The global Food Service Equipment Market is estimated to reach US$ 45,449.7 million by 2024 and US$ 82,099.3 million by 2034. The market is expected to surge at a CAGR of 5.6% by 2034.
The growing popularity of convenience and ready-to-eat foods among customers in emerging nations is driving up demand for food service equipment. Due to shifting consumer lifestyles, more disposable income, increased brand awareness, and growing worries about the quality of food products, this potential is soaring. It is anticipated that a number of growing economies will open up new markets for the food service equipment sector.
Innovative and technologically sophisticated items are flooding the market, ranging from food preparation and storage research to programmable food service appliances that can prepare a variety of dishes. In the long run, it is projected that these items would assist market expansion.
The food service equipment industry’s key driving factor is the hotel sector. Food that is high-quality, nutritious, and requires less time and effort to make is preferred by busy consumers. This leads to a strong inclination toward quick-service eateries as well.
Request Exclusive Sample Report: Food Service Equipment Industry Strategic Insights, https://www.futuremarketinsights.com/reports/sample/rep-gb-1578
Key Takeaways from the Food Service Equipment Market Study:
The global market is expected to rise at a CAGR of 5.6% by 2034.The United States is projected to surge at a CAGR of 4.3% by 2034.Based on equipment type, the cooking equipment segment is expected to hold a market share of 43.3% in 2024.By end-use, the hotel segment is projected to account for 20.3% market share in 2024.The global market is expected to reach US$ 82,099.3 million by 2034.“Food service equipment, including mixers, blenders, ice-cream machines, dishwashers, ovens, grills, and slicers, are being used more frequently as quick-service restaurants gain popularity. Integrating IoT and data analytics with food service equipment, including smart inventory management systems, touchscreen kiosks, integrated cooking equipment, and smart kitchens, contributes to waste reduction and increased restaurant efficiency,” says Nandini Roy Choudhury, Client Partner at Future Market Insights
Competitive Landscape
Leading companies in the market are Electrolux Professional, Dover Corporation, Middleby Corporation, Duke Manufactures, and Tupperware Hobart Corporation. The increasing use of environmentally friendly technology equipment is directing key players to concentrate on business plans that benefit their companies, such as joint ventures, mergers, and acquisitions.
Manufacturers are working with solution providers to offer equipment that is focused on the client’s needs and addresses food waste by supermarkets, hypermarkets, and grocery shops. Furthermore, technical developments and the Internet of Things specifications define the food service equipment industry.
Key Companies Profiled
Rational AGLG ElectronicsRobert BoschSamsung ElectronicsACP Solution Inc.Philips ElectronicsSelectaHaier Inc.Illinois Tool WorksElectrolux ProfessionalDover CorporationMiddleby CorporationDuke ManufacturesMeikoTupperware Hobart CorporationAli Group SpAPanasonic CorporationWelbitFor instance,
In 2020, Middleby Corporation acquired Zhuhai Guangdong, a China-based United Food Service Equipment Group.In May 2022, Welbilt, Inc. launched the Smart Restaurant Ecosystem.Food Service Equipment Market Segmentation
By Equipment:
Food Preparation EquipmentDrink Preparation EquipmentCooking EquipmentHeating and Holding Equipment/ Buffet Service EquipmentTable TopsFood Safety and Sanitation EquipmentSmall Wares (1 Unit = 6 Pieces)DishwashersBar Supplies (Set)Refrigerators and ChillersBaking EquipmentStorage and Shelving EquipmentFood Packaging and Wrapping EquipmentDinnerware (Set)Glassware (1 Unit = 6 Pieces)By End-use Industry:
HotelsFine Dine RestaurantsCasual Dining RestaurantsFast Food and Quick Service RestaurantsCafeteriaInstitutional Canteens and CateringBakeryCommercial KitchensTravel Retail Services (Airways, Ships, Railways)HouseholdBy Sales Channel:
OnlineOfflineBy Region:
North AmericaLatin AmericaEuropeEast AsiaSouth AsiaOceaniaMiddle East & Africa
Sign in to leave a comment.