Food Service Equipment Market Forecasts to 2028 – Global Analysis By Equipment Type (Refrigeration Equipment, Ware Washing Equipment, Cooking & Preparation Equipment and Other Equipments), By End User (Full-service Restaurants, Quick-service Restaurants,

Best Price Guarantee	Length	Publisher	Published Date	SKU
from $4,150	175 Pages	Stratistics Market Research Consulting	December, 2022	SMR17627146

Best Price Guarantee
Price	from $4,150
Length	175 Pages
Publisher	Stratistics Market Research Consulting
Published Date	December, 2022
SKU	SMR17627146

Food Service Equipment Market Forecasts to 2028 – Global Analysis By Equipment Type (Refrigeration Equipment, Ware Washing Equipment, Cooking & Preparation Equipment and Other Equipments), By End User (Full-service Restaurants, Quick-service Restaurants, Hotels & Clubs and Other End Users) and Geography

According to Stratistics MRC, the Global Food Service Equipment Market is accounted for $37.38 billion in 2022 and is expected to reach $60.65 billion by 2028 growing at a CAGR of 8.4% during the forecast period. Cooking equipment, storage and handling equipment, ware washing equipment, food and beverage preparation equipment, and serving equipment comprise the food service equipment market. As the demand for technologically advanced kitchen equipment grows, manufacturers of foodservice equipment have significantly improved their product offerings. People's living standards in developing countries have given rise to restaurants and cafes, which has contributed to investments in the food industry.

According to a Google and Boston Consulting Group (BCG) report, the Indian online food industry is expected to reach $8 billion by the end of 2022, with a 25-30% growth rate. As a result, the growing online foodservice sector will propel the foodservice equipment market forward.

Market Dynamics:

Driver:

Integration of Automated Technologies

The equipment manufacturers intend to concentrate on the low-cost services that can be provided to improve food quality. In today's market, it has become mandatory to monitor and cater the quality services of any equipment. For interconnected and smart operations, remote maintenance and self-diagnosis features are implemented, recognising the operation of food service machinery. This equipment aids in the preservation of hygiene, accurate temperature, and sterilisation of utensils used in food preparation, thereby ensuring consumer food safety. Companies in the industry are creating products based on AI and IoT technology to improve the user experience which is fueling the market growth.

Restraint:

High Cost of Advanced Machinery

Food safety is the primary goal of any food equipment manufacturer, and the production of these machines necessitates skilled labourers who can operate both traditional and automated machines. The integration of automated food service machines is more expensive and comes with a demand for trained labourers as well as other automated facilities. This raises the overall setup and maintenance costs of the machines, impeding market growth.

Opportunity:

Rising demand for ready-to-eat meals

Consumers' shifting eating habits and increasingly hectic lifestyles have increased demand for ready-to-eat meals in recent years. Rapid shifts in supporting factors such as disposable income, consumer preferences, an increase in the working female population, and digitization have resulted in an increase in the number of restaurants offering quick service, pop & shop, and other types of dining options. Furthermore, an increase in the demand for processed foods increases the number of grocery stores, hypermarkets, and retail shops, which increases the demand for refrigeration and storage products, which is contributing to market growth.

Threat:

An Increase in Food Safety Concerns

According to the Centers for Disease Control and Prevention (CDC), one out of every six Americans becomes ill as a result of contaminated food or beverages, and 3,000 people die as a result. Furthermore, the United States Department of Agriculture (USDA) estimates that foodborne illnesses cost the country more than $15.6 billion per year. The rapid rise in food safety concerns is increasing the adoption of advanced food service storage and handling equipment, which is one of the major factors said to be restricting the growth of the Food Service Equipment Market Share.

Covid-19 Impact

Due to stringent social distancing and shelter-in-place norms imposed by governments worldwide, the COVID-19 pandemic resulted in the temporary shutdown of food service operations. Nonetheless, as governments ease lockdowns and the first vaccines arrive, the food service industry is expected to recover during the forecast period. While dine-in restaurant traffic is expected to take longer to recover, end customers are expected to recover via off-premise, takeaways, and online delivery services. The struggling market is expected to thrive in the coming years as a result of the subsequent increase in footfall in food service restaurants and institutional kitchens.

The Cooking & Preparation Equipment segment is expected to be the largest during the forecast period

Cooking and preparation equipment is expected to be the largest segment during the forecast period due to increased demand in general and convenience stores, full-service restaurants, and quick-service restaurants. Moreover, the growing demand for advanced kitchen equipment and the increased adoption of grill equipment in developed countries are the major factors driving the growth of the market. Additionally, to meet the growing demand for fried foods among the young population, key players around the world are focusing on developing advanced fryer equipment, which is also fueling the market.

The Quick Service Restaurants segment is expected to have the highest CAGR during the forecast period

The quick-service restaurants segment is expected to grow at the highest CAGR during the forecast period due to rapid changes in supporting factors such as consumer preferences for fast food, increase in working women population, rise in disposable income, and rapid urbanisation, which has resulted in an increase in the number of quick-service restaurants & pubs, thereby driving market growth.

Region with largest share:

Due to the emerging hospitality industry in India, China, and Japan, Asia Pacific holds the largest food service equipment market share over the forecast period. According to National Restaurant Association of India (NRAI) statistics, the country's food service industry is expected to reach around USD 843 billion providing opportunities for market growth. Furthermore, rising demand for frozen food products in China and Japan, rising travel, tourism, and hospitality will fuel market growth in this region.

Region with highest CAGR:

The North America region is expected to grow at the fastest CAGR during the forecast period, rising number of food joints in the region. Restaurants across the United States and Canada are making significant investments to improve their customer service. As a result, using various food service equipment such as cooking equipment, refrigerators, and ware-washing equipment, among other things, will assist restaurants in improving their food services. According to the National Restaurant Association of the United States, the country has over one million restaurants, providing ample opportunities for market growth. Furthermore, the growing demand for technologically advanced equipment in the food industry in the United States will drive market growth in the coming years.

Key players in the market

Some of the key players profiled in the Food Service Equipment Market include Meiko, Welbilt, Haier Inc, ITW Food Equipment Group, Standex International Corporation, Duke Manufacturing Co. Inc., Hoshizaki Electric Co. Ltd, The Middleby Corporation, Fujimak Corporation, Tupperware Hobart Corporation, Dover Corporation, Brands Corporation, Electrolux AB, Ali Group SpA and Manitowoc Company Inc.

Key Developments:

In September 2021, Duke Manufacturing launched Readyflex holding units in the UK market. These units are designed to offer operators many advantages and make their working lives easier. Moreover, these units seamlessly interact with the third-party cloud and on-site solutions.

In August 2021, Electrolux has launched its TrinityPro range of tabletop food preparation equipment. This equipment is composed of a cutter mixer, vegetable slicer and an all-in-one combined cutter-slicer. This equipment has been designed to provide optimum results across a range of applications.

Equipment Types Covered:
• Refrigeration Equipment
• Ware Washing Equipment
• Cooking & Preparation Equipment
• Storage & Handling Equipment
• Food Holding & Storing Equipment
• Other Equipment Types

End Users Covered:
• Full-service Restaurants
• Quick-service Restaurants
• Hotels & Clubs
• Catering
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

1 Executive Summary
2 Preface: 2.1 Abstract; 2.2 Stake Holders; 2.3 Research Scope; 2.4 Research Methodology; 2.4.1 Data Mining; 2.4.2 Data Analysis; 2.4.3 Data Validation; 2.4.4 Research Approach; 2.5 Research Sources; 2.5.1 Primary Research Sources; 2.5.2 Secondary Research Sources; 2.5.3 Assumptions
3 Market Trend Analysis: 3.1 Introduction; 3.2 Drivers; 3.3 Restraints; 3.4 Opportunities; 3.5 Threats; 3.6 End User Analysis; 3.7 Emerging Markets; 3.8 Impact of Covid-19
4 Porters Five Force Analysis: 4.1 Bargaining power of suppliers; 4.2 Bargaining power of buyers; 4.3 Threat of substitutes; 4.4 Threat of new entrants; 4.5 Competitive rivalry
5 Global Food Service Equipment Market, By Equipment Type: 5.1 Introduction; 5.2 Refrigeration Equipment; 5.3 Ware Washing Equipment; 5.4 Cooking & Preparation Equipment; 5.5 Storage & Handling Equipment; 5.6 Food Holding & Storing Equipment; 5.7 Other Equipment Types
6 Global Food Service Equipment Market, By End User: 6.1 Introduction; 6.2 Full-service Restaurants; 6.3 Quick-service Restaurants; 6.4 Hotels & Clubs; 6.5 Catering; 6.6 Other End Users
7 Global Food Service Equipment Market, By Geography: 7.1 Introduction; 7.2 North America; 7.2.1 US; 7.2.2 Canada; 7.2.3 Mexico; 7.3 Europe; 7.3.1 Germany; 7.3.2 UK; 7.3.3 Italy; 7.3.4 France; 7.3.5 Spain; 7.3.6 Rest of Europe; 7.4 Asia Pacific; 7.4.1 Japan; 7.4.2 China; 7.4.3 India; 7.4.4 Australia; 7.4.5 New Zealand; 7.4.6 South Korea; 7.4.7 Rest of Asia Pacific; 7.5 South America; 7.5.1 Argentina; 7.5.2 Brazil; 7.5.3 Chile; 7.5.4 Rest of South America; 7.6 Middle East & Africa; 7.6.1 Saudi Arabia; 7.6.2 UAE; 7.6.3 Qatar; 7.6.4 South Africa; 7.6.5 Rest of Middle East & Africa
8 Key Developments: 8.1 Agreements, Partnerships, Collaborations and Joint Ventures; 8.2 Acquisitions & Mergers; 8.3 New Product Launch; 8.4 Expansions; 8.5 Other Key Strategies
9 Company Profiling: 9.1 Meiko; 9.2 Welbilt; 9.3 Haier Inc; 9.4 ITW Food Equipment Group; 9.5 Standex International Corporation; 9.6 Duke Manufacturing Co. Inc.; 9.7 Hoshizaki Electric Co. Ltd; 9.8 The Middleby Corporation; 9.9 Fujimak Corporation; 9.10 Tupperware Hobart Corporation; 9.11 Dover Corporation; 9.12 Brands Corporation; 9.13 Electrolux AB; 9.14 Ali Group SpA; 9.15 Manitowoc Company Inc.
List of Tables: Table 1 Global Food Service Equipment Market Outlook, By Region (2020-2028) ($MN); Table 2 Global Food Service Equipment Market Outlook, By Equipment Type (2020-2028) ($MN); Table 3 Global Food Service Equipment Market Outlook, By Refrigeration Equipment (2020-2028) ($MN); Table 4 Global Food Service Equipment Market Outlook, By Ware Washing Equipment (2020-2028) ($MN); Table 5 Global Food Service Equipment Market Outlook, By Cooking & Preparation Equipment (2020-2028) ($MN); Table 6 Global Food Service Equipment Market Outlook, By Storage & Handling Equipment (2020-2028) ($MN); Table 7 Global Food Service Equipment Market Outlook, By Food Holding & Storing Equipment (2020-2028) ($MN); Table 8 Global Food Service Equipment Market Outlook, By Other Equipment Types (2020-2028) ($MN); Table 9 Global Food Service Equipment Market Outlook, By End User (2020-2028) ($MN); Table 10 Global Food Service Equipment Market Outlook, By Full-service Restaurants (2020-2028) ($MN); Table 11 Global Food Service Equipment Market Outlook, By Quick-service Restaurants (2020-2028) ($MN); Table 12 Global Food Service Equipment Market Outlook, By Hotels & Clubs (2020-2028) ($MN); Table 13 Global Food Service Equipment Market Outlook, By Catering (2020-2028) ($MN); Table 14 Global Food Service Equipment Market Outlook, By Other End Users (2020-2028) ($MN); Table 15 North America Food Service Equipment Market Outlook, By Country (2020-2028) ($MN); Table 16 North America Food Service Equipment Market Outlook, By Equipment Type (2020-2028) ($MN); Table 17 North America Food Service Equipment Market Outlook, By Refrigeration Equipment (2020-2028) ($MN); Table 18 North America Food Service Equipment Market Outlook, By Ware Washing Equipment (2020-2028) ($MN); Table 19 North America Food Service Equipment Market Outlook, By Cooking & Preparation Equipment (2020-2028) ($MN); Table 20 North America Food Service Equipment Market Outlook, By Storage & Handling Equipment (2020-2028) ($MN); Table 21 North America Food Service Equipment Market Outlook, By Food Holding & Storing Equipment (2020-2028) ($MN); Table 22 North America Food Service Equipment Market Outlook, By Other Equipment Types (2020-2028) ($MN); Table 23 North America Food Service Equipment Market Outlook, By End User (2020-2028) ($MN); Table 24 North America Food Service Equipment Market Outlook, By Full-service Restaurants (2020-2028) ($MN); Table 25 North America Food Service Equipment Market Outlook, By Quick-service Restaurants (2020-2028) ($MN); Table 26 North America Food Service Equipment Market Outlook, By Hotels & Clubs (2020-2028) ($MN); Table 27 North America Food Service Equipment Market Outlook, By Catering (2020-2028) ($MN); Table 28 North America Food Service Equipment Market Outlook, By Other End Users (2020-2028) ($MN); Table 29 Europe Food Service Equipment Market Outlook, By Country (2020-2028) ($MN); Table 30 Europe Food Service Equipment Market Outlook, By Equipment Type (2020-2028) ($MN); Table 31 Europe Food Service Equipment Market Outlook, By Refrigeration Equipment (2020-2028) ($MN); Table 32 Europe Food Service Equipment Market Outlook, By Ware Washing Equipment (2020-2028) ($MN); Table 33 Europe Food Service Equipment Market Outlook, By Cooking & Preparation Equipment (2020-2028) ($MN); Table 34 Europe Food Service Equipment Market Outlook, By Storage & Handling Equipment (2020-2028) ($MN); Table 35 Europe Food Service Equipment Market Outlook, By Food Holding & Storing Equipment (2020-2028) ($MN); Table 36 Europe Food Service Equipment Market Outlook, By Other Equipment Types (2020-2028) ($MN); Table 37 Europe Food Service Equipment Market Outlook, By End User (2020-2028) ($MN); Table 38 Europe Food Service Equipment Market Outlook, By Full-service Restaurants (2020-2028) ($MN); Table 39 Europe Food Service Equipment Market Outlook, By Quick-service Restaurants (2020-2028) ($MN); Table 40 Europe Food Service Equipment Market Outlook, By Hotels & Clubs (2020-2028) ($MN); Table 41 Europe Food Service Equipment Market Outlook, By Catering (2020-2028) ($MN); Table 42 Europe Food Service Equipment Market Outlook, By Other End Users (2020-2028) ($MN); Table 43 Asia Pacific Food Service Equipment Market Outlook, By Country (2020-2028) ($MN); Table 44 Asia Pacific Food Service Equipment Market Outlook, By Equipment Type (2020-2028) ($MN); Table 45 Asia Pacific Food Service Equipment Market Outlook, By Refrigeration Equipment (2020-2028) ($MN); Table 46 Asia Pacific Food Service Equipment Market Outlook, By Ware Washing Equipment (2020-2028) ($MN); Table 47 Asia Pacific Food Service Equipment Market Outlook, By Cooking & Preparation Equipment (2020-2028) ($MN); Table 48 Asia Pacific Food Service Equipment Market Outlook, By Storage & Handling Equipment (2020-2028) ($MN); Table 49 Asia Pacific Food Service Equipment Market Outlook, By Food Holding & Storing Equipment (2020-2028) ($MN); Table 50 Asia Pacific Food Service Equipment Market Outlook, By Other Equipment Types (2020-2028) ($MN); Table 51 Asia Pacific Food Service Equipment Market Outlook, By End User (2020-2028) ($MN); Table 52 Asia Pacific Food Service Equipment Market Outlook, By Full-service Restaurants (2020-2028) ($MN); Table 53 Asia Pacific Food Service Equipment Market Outlook, By Quick-service Restaurants (2020-2028) ($MN); Table 54 Asia Pacific Food Service Equipment Market Outlook, By Hotels & Clubs (2020-2028) ($MN); Table 55 Asia Pacific Food Service Equipment Market Outlook, By Catering (2020-2028) ($MN); Table 56 Asia Pacific Food Service Equipment Market Outlook, By Other End Users (2020-2028) ($MN); Table 57 South America Food Service Equipment Market Outlook, By Country (2020-2028) ($MN); Table 58 South America Food Service Equipment Market Outlook, By Equipment Type (2020-2028) ($MN); Table 59 South America Food Service Equipment Market Outlook, By Refrigeration Equipment (2020-2028) ($MN); Table 60 South America Food Service Equipment Market Outlook, By Ware Washing Equipment (2020-2028) ($MN); Table 61 South America Food Service Equipment Market Outlook, By Cooking & Preparation Equipment (2020-2028) ($MN); Table 62 South America Food Service Equipment Market Outlook, By Storage & Handling Equipment (2020-2028) ($MN); Table 63 South America Food Service Equipment Market Outlook, By Food Holding & Storing Equipment (2020-2028) ($MN); Table 64 South America Food Service Equipment Market Outlook, By Other Equipment Types (2020-2028) ($MN); Table 65 South America Food Service Equipment Market Outlook, By End User (2020-2028) ($MN); Table 66 South America Food Service Equipment Market Outlook, By Full-service Restaurants (2020-2028) ($MN); Table 67 South America Food Service Equipment Market Outlook, By Quick-service Restaurants (2020-2028) ($MN); Table 68 South America Food Service Equipment Market Outlook, By Hotels & Clubs (2020-2028) ($MN); Table 69 South America Food Service Equipment Market Outlook, By Catering (2020-2028) ($MN); Table 70 South America Food Service Equipment Market Outlook, By Other End Users (2020-2028) ($MN); Table 71 Middle East & Africa Food Service Equipment Market Outlook, By Country (2020-2028) ($MN); Table 72 Middle East & Africa Food Service Equipment Market Outlook, By Equipment Type (2020-2028) ($MN); Table 73 Middle East & Africa Food Service Equipment Market Outlook, By Refrigeration Equipment (2020-2028) ($MN); Table 74 Middle East & Africa Food Service Equipment Market Outlook, By Ware Washing Equipment (2020-2028) ($MN); Table 75 Middle East & Africa Food Service Equipment Market Outlook, By Cooking & Preparation Equipment (2020-2028) ($MN); Table 76 Middle East & Africa Food Service Equipment Market Outlook, By Storage & Handling Equipment (2020-2028) ($MN); Table 77 Middle East & Africa Food Service Equipment Market Outlook, By Food Holding & Storing Equipment (2020-2028) ($MN); Table 78 Middle East & Africa Food Service Equipment Market Outlook, By Other Equipment Types (2020-2028) ($MN); Table 79 Middle East & Africa Food Service Equipment Market Outlook, By End User (2020-2028) ($MN); Table 80 Middle East & Africa Food Service Equipment Market Outlook, By Full-service Restaurants (2020-2028) ($MN); Table 81 Middle East & Africa Food Service Equipment Market Outlook, By Quick-service Restaurants (2020-2028) ($MN); Table 82 Middle East & Africa Food Service Equipment Market Outlook, By Hotels & Clubs (2020-2028) ($MN); Table 83 Middle East & Africa Food Service Equipment Market Outlook, By Catering (2020-2028) ($MN); Table 84 Middle East & Africa Food Service Equipment Market Outlook, By Other End Users (2020-2028) ($MN)