Food Service Equipment Market Report by Product Type (Cooking Equipment, Storage and Handling Equipment, Warewashing Equipment, Food and Beverage Preparation Equipment, Serving Equipment), Distribution Channel (Online, Offline), End Use (Full-service Rest

Food Service Equipment Market Report by Product Type (Cooking Equipment, Storage and Handling Equipment, Warewashing Equipment, Food and Beverage Preparation Equipment, Serving Equipment), Distribution Channel (Online, Offline), End Use (Full-service Restaurants and Hotels, Quick-service Restaurants and Pubs, Catering), and Region 2024-2032

The global food service equipment market size reached US$ 38.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 58.4 Billion by 2032, exhibiting a growth rate (CAGR) of 4.6% during 2024-2032. The market is driven by the rising demand for energy efficiency, enhanced consumer preferences for gourmet and healthy food options, growing focus on sustainability and waste reduction, heightened utilization of automation to address labor shortages, and significant expansion in tourism across the globe.

Food Service Equipment Market Analysis:

• Major Market Drivers: The market is being influenced by a growing emphasis on energy efficiency and sustainability as regulatory authorities set higher environmental criteria. The expansion of the food service sector, particularly in emerging markets, is also driving the demand for new and innovative equipment. Moreover, the rise in dining out culture and the proliferation of quick-service restaurants (QSRs) amplify the need for efficient and high-quality equipment.
• Key Market Trends: The key trends for the market include the utilization of artificial intelligence (AI) and the Internet of Things (IoT) in kitchen equipment to reduce staff shortages and improve operational efficiency. In addition, smart and connected kitchen technology is being adopted to provide real-time monitoring and control, improving food safety and operational efficiency.
• Geographical Trends: North America currently dominates the market due to its established food service industry and quick adoption of technological innovations. Other regions are also experiencing rapid growth, driven by rising disposable incomes, urbanization, stringent food safety regulations, and sustainability initiatives that encourage the adoption of advanced, eco-friendly food service equipment.
• Competitive Landscape: Some of the major market players in the food service equipment industry include AB Electrolux, Ali group s.r.l. a socio unico, Alto-Shaam Inc., Cambro Manufacturing, Comstock-Castle Stove Co. Inc, Dover Corporation, Duke Manufacturing, Illinois Tool Works Inc., The Middleby Corporation, and Welbilt, among many others.
• Challenges and Opportunities: The rising cost of innovative equipment can be a substantial obstacle for small to medium-sized organizations. Older establishments may also struggle to upgrade existing systems due to the complexity of integrating new technology. However, the development of cost-effective solutions for small enterprises is expanding the market growth. Moreover, the development of products that fulfill the demands of rapidly emerging fast-casual and quick-service restaurant segments is strengthening the market expansion.

Food Service Equipment Market Trends:

Increasing Emphasis on Energy Efficiency and Sustainability

The rising focus on sustainability has majorly impacted the market growth. The awareness about energy consumption and eco-friendly initiatives encourages consumers to adopt energy-efficient appliances, thereby boosting the food service equipment demand. Energy consumption regulations and norms across the globe that emphasize reducing greenhouse gas (GHG) emissions to lower the increased impact of climate change are expanding the market growth. End customers increasingly prefer appliances that hold the ENERGY STAR symbol, which is a mark of the energy efficiency of the equipment, to help restaurants, institutional kitchens, and cafes save energy while reducing maintenance and utility costs. As per a report in 2018 by the Energy Star program of the U.S. Environmental Protection Agency (EPA), food service equipment with the ENERGY STAR symbol helps end-use operators save USD 5,300 or around 340 MMBTU per year.

Expansion of the Food Service Sector

The increasing consumer spending on dining out and the burgeoning popularity of quick-service restaurants (QSRs), is a significant driver for the food service equipment market growth. In France, for example, nearly 10 billion meals consumed in 2018 were from out-of-home (OOH) outlets. In Spain, over a third, accounting for 34% of expenditure on food, was in the OOH sector. As the number of eateries, cafes, and restaurants grows, the demand for new and replacement equipment also surges. Growth in the food service industry, which is rising at a rate of 3.3% annually, is contributing to the increased use of food service equipment.

Rising Consumer Preferences for Healthier and Gourmet Food Options

There is a rising consumer demand for healthier, high-quality, and gourmet food options. This trend is driving the need for specialized food service equipment that is capable of handling complex and delicate cooking processes while preserving the nutritional value of the ingredients. The use of equipment such as high-precision sous-vide machines, advanced juicers, and blenders that can process whole fruits and vegetables are becoming staples in modern kitchens. Furthermore, the popularity of organic and farm-to-table concepts requires equipment that can maintain the integrity and flavor of fresh and locally sourced ingredients. The market for organic food is rapidly rising, with a yearly pace of 10.97%. It is also expected to touch US$ 528.9 billion by 2032. This data has hiked the importance of food service equipment in this sector for producing quality products.

Food Service Equipment Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on product type, distribution channel, and end use.

Breakup by Product Type:

• Cooking Equipment
• Storage and Handling Equipment
• Warewashing Equipment
• Food and Beverage Preparation Equipment
• Serving Equipment

Cooking equipment accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the product type. This includes cooking equipment, storage and handling equipment, warewashing equipment, food and beverage preparation equipment, and serving equipment. According to the report, cooking equipment represented the largest segment.

As per the food service equipment market analysis and outlook, cooking equipment constituted the largest segment. It includes several products, such as ovens, ranges, fryers, grills, and cooktops, that are essential for the preparation of various dishes. Moreover, the critical nature of cooking processes in food service operations, that require efficiency, reliability, and food safety standards is fueling the market growth. Besides this, the surge in demand for specialized equipment designed for ethnic cuisines and gourmet cooking, reflecting broader consumer taste preferences and dietary trends, is positively impacting the food service equipment market revenue.

Breakup by Distribution Channel:

• Online
• Offline

Offline holds the largest share of the industry

A detailed breakup and analysis of the market based on the distribution channel have also been provided in the report. This includes online and offline. According to the report, offline accounted for the largest market share.

Based on the food service equipment market forecast and trends, offline channels accounted for the largest market share. They include brick-and-mortar stores such as specialized commercial kitchen equipment shops, wholesale distributors, and direct sales from manufacturers. The high value and complex nature of the equipment, prompting customers to physically inspect products and engage in face-to-face consultations to ensure compatibility with their specific operational needs, is bolstering the market growth. Moreover, retailers and distributors offer additional services such as installation, maintenance, and after-sales support, which are critical for the effective operation of the equipment.

Breakup by End Use:

• Full-service Restaurants and Hotels
• Quick-service Restaurants and Pubs
• Catering

Full-service restaurants and hotels represent the leading market segment

The report has provided a detailed breakup and analysis of the market based on the end use. This includes full-service restaurants and hotels, quick-service restaurants and pubs, and catering. According to the report, full-service restaurants and hotels represented the largest segment.

According to the food service equipment market overview and report, full-service restaurants and hotels emerged as the largest segment. The extensive and diverse requirements for high-quality and durable food service equipment in these establishments that handle a wide range of culinary demands and high-volume operations are fueling the market growth. Full-service restaurants and hotels need a comprehensive array of equipment, such as advanced cooking appliances, refrigeration units, specialized serving, and warewashing equipment, to ensure operational efficiency and customer satisfaction is catalyzing the market growth. Moreover, the competitive nature of the hospitality industry, driving continuous upgrades and technological enhancements in equipment to improve service delivery, enhance food quality, and optimize operational costs, is fueling the food service equipment market share.

Breakup by Region:

• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Others
• Latin America
• Brazil
• Mexico
• Others
• Middle East and Africa

North America leads the market, accounting for the largest food service equipment market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America represents the largest regional market for food service equipment.

Based on the food service equipment market research report and segmentation, North America accounted for the largest market share, driven by a well-established food service industry characterized by high standards of quality, safety, and efficiency. Moreover, the presence of numerous leading equipment manufacturers, a strong culture of dining out, and the rapid adoption of technological innovations in kitchen appliances and operations are boosting the market growth. Additionally, the continuous demand for new and upgraded equipment to cater to evolving consumer preferences, such as healthier eating options and gourmet cuisine, is enhancing the market growth. Furthermore, the imposition of stringent food safety regulations, necessitating the use of advanced equipment that can comply with these standards, is positively impacting the food service equipment market's recent opportunities and developments.

Competitive Landscape:

• The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the major market players in the food service equipment industry include AB Electrolux, Ali group s.r.l. a socio unico, Alto-Shaam Inc., Cambro Manufacturing, Comstock-Castle Stove Co. Inc, Dover Corporation, Duke Manufacturing, Illinois Tool Works Inc., The Middleby Corporation, Welbilt, etc.

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

The top food service equipment companies are engaged in research and development (R&D) to introduce more innovative, energy-efficient, and technologically advanced products. These efforts are aimed at addressing the growing demands for automation, enhanced food safety, and operational efficiency within the food service industry. Moreover, major companies are expanding their geographic footprint and strengthening their distribution networks to enter emerging markets where the food service sector is experiencing rapid growth. Besides this, they are forming strategic mergers and acquisitions to broaden their product portfolios and incorporate advanced technologies, such as the Internet of Things (IoT) connectivity and artificial intelligence (AI)-driven automation, into their offerings.

Food Service Equipment Market News:

• n July 2022, The Middleby Corporation announced the acquisition of Colussi Ermes, a leading worldwide manufacturer of automated washing solutions for the food processing industry. Colussi Ermes is located in Pordenone, Italy and has approximately $50 million in annual revenues. This acquisition will provide a significant opportunity for collaboration with brands to deliver best-in-class and full-line solutions to customers.
• n February 2022, Alto-Shaam expanded its range of heated shelf merchandisers (HSM) with two additional new model widths featuring top heat. The company updated its countertop and floor-standing 36-inch models in 2021 and made its 24-inch and 48-inch models available with top heat in 2022. The new layer of top heat paired with Halo Heat technology provides the highest quality extended holding of the most delicate food items, such as burritos, sandwiches and pastries without compromising food quality.

Key Questions Answered in This Report

1. What was the size of the global food service equipment market in 2023?

2. What is the expected growth rate of the global food service equipment market during 2024-2032?

3. What are the key factors driving the global food service equipment market?

4. What has been the impact of COVID-19 on the global food service equipment market?

5. What is the breakup of the global food service equipment market based on the product type?

6. What is the breakup of the global food service equipment market based on the distribution channel?

7. What is the breakup of the global food service equipment market based on end use?

8. What are the key regions in the global food service equipment market?

9. Who are the key players/companies in the global food service equipment market?