Food Service Equipment Market Size Scope and Comprehensive Analysis by 2030
Market overview
Food
Service Equipment Market size is estimated to reach around USD 45
Billion by the end of the Food Service Equipment Market Analysis, registering a
CAGR of 5% during the forecast period.
The foodservice equipment is used to store food products and
preparation. The equipment includes other things such as ware washing
equipment, food and beverage preparation equipment, storage and handling
equipment. This equipment is used in several food services like hotels,
restaurants, and other commercial kitchens. The growth of the hospitality and
tourism industry and the temperature-controlled storage equipment for processed
food items are driving the Food Service Equipment Market in
the commercial food services industry.
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The demand for the foodservice industry and efficient,
multi-functional, time-saving, and reduced labour boost the market. The Food
Service Equipment Market is solely dependent on the hospitality and
tourism industry, which decreased due to the effect of the COVID 19 as the
flights and closed with that all the restaurants, hotels and quick food
services are were ordered for the shutdown which hampers the size of the Food
Service Equipment Market.
the addition of newer technologies by the Food Service
Equipment manufacturers infused with new features will open up several new
opportunities for the recent players. The consumption of food, urbanization,
changing adults' food habits, and advanced kitchen equipment are prominent
factors for the market growth. Less cost-effectiveness and less skilled people
for operation are restraining factors for the market. A growing number of wi-fi
and IoT devices and a growing trend for smart kitchens are forming growth
opportunities for the market growth.
Top Growing Key Players -
- Meiko
(Germany)
- Duke
Manufacturing Co. Inc. (US)
- Hoshizaki
Electric Co., Ltd (Japan)
- Fujimak
Corporation (Japan)
- Tupperware
Hobart Corporation (US)
- Dover
Corporation (US)
- Brands
Corporation (US)
- Electrolux
AB (Sweden)
- Ali
Group SpA (Italy)
- Manitowoc
Company Inc.
Industry news
The hospice kitchen requires powerful kitchen equipment to
meet patients' complex range of dietary requirements and provide food for
patients with difficulties in swallowing.
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Market segmentation
The Food Service Equipment Market is
segmented by product and application. The segment application includes
Full-Service Restaurants, Quick Service Restaurants, Caterers, Hotels &
Clubs, and Others. The quick segment is expected to showcase a high growth rate
due to the increasing collaboration of quick food delivery companies such as
Zomatao and food panda. Many newer quick food deliveries are also adding up day
by day, growing the Food Service Equipment Market.
the market is bifurcated into Cooking Equipment, Storage
& Handling Equipment, Ware Washing Equipment, Food Holding & Serving
Equipment, and Others of the segment product. The growing demand for cooking
and beverage making in the residential and commercial sectors increases the
cooking equipment segment and is expected to grow during the forecast period.
Regional analysis
According to geography, the Food Service Equipment
Market is studied in North America, Asia Pacific, Europe and other
parts. In the Asia Pacific region, the food services centres are growing. The
rise in the number of nuclear families and changing lifestyles in India and
China are expected to help the market grow in the Asia Pacific region.
The adaptation of technologically advanced products is
propelling the market value. The varieties of dining options and the
growing tourism industry in the European region boost the market in the region.
Due to the continuous urbanization and increases of food services equipment
industry in the middle east and Africa region acting as a growth factor for the
region.
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