Global Food Service Equipment Market 2023-2027
The food service equipment market is forecasted to grow by USD 12,347.24 million during 2022-2027, accelerating at a CAGR of 6.09% during the forecast period. The report on the food service equipment market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the shift toward energy-efficient food service equipment, growth in the food service industry, and high demand for mechanical equipment.
Technavio's food service equipment market is segmented as below:
- By Distribution Channel
- Offline
- Online
- By Product
- Cooking and preparation equipment
- Refrigeration equipment
- Ware washing equipment
- Storage and handling equipment
- Others
- By Geographical Landscape
- APAC
- North America
- Europe
- South America
- Middle East and Africa
This study identifies the increasing focus on proper food storage as one of the prime reasons driving the food service equipment market growth during the next few years. Also, robust demand for automatic food service equipment and energy-efficient equipment gaining traction will lead to sizable demand in the market.
The report on the food service equipment market covers the following areas:
- Food service equipment market sizing
- Food service equipment market forecast
- Food service equipment market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading food service equipment market vendors that include 3M Co., Ali Group Srl, Cambro Manufacturing Co., Duke Manufacturing, Electrolux Professional AB, Haier Smart Home Co. Ltd., Illinois Tool Works Inc., Koninklijke Philips NV, LG Electronics Inc., MEIKO Maschinenbau GmbH and Co. KG, Panasonic Holdings Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Selecta Group BV, The Middleby Corp., and RATIONAL Group. Also, the food service equipment market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market through study, synthesis, and summation of data from multiple sources by analyzing key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.