Loading...

Food Service Equipment Market Expected to Reach $50,039 Million, Globally, by 2025

 
 

quote Development of the hospitality industry is anticipated to drive the food service equipment market. In addition, rise in business-related travel, increase in urban population, and rise in number of food joints such as hotels & restaurants fuel the growth of hospitality industry, thereby driving the growth of the food service equipment market quote

Shankar Bhandalkar
Sr. Research Analyst, Foods & Beverages at AMR

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a new report published by Allied Market Research, titled, Food Service Equipment Market by Product and End Use: Global Opportunity Analysis and Industry Forecast, 2018-2025 the global food service equipment market was valued at $31,088 million in 2017, and is projected to reach $50,039 million by 2025, registering a CAGR of 6.4% from 2018 to 2025. In 2017, the storage & handling equipment segment accounted for approximately two-sevenths share in the food service equipment market, and is projected to grow at the highest CAGR of 7.5%.

Food service equipment provides ease in food preparation in addition to food safety in commercial kitchens. Such equipment are needed to prepare, cook, and store food items. Products such as refrigerators & freezers, display cabinets, cutlery, and bakery oven are offered by prime companies, ensuring premium quality and low maintenance cost. The food service equipment market is segmented based on product and end use.

Change in food habits and busy lifestyle of consumers have led to increase in demand for ready-to-eat meals. Rapid changes in the supporting factors such as disposable income, consumer preferences, increase in working women population, and digitization have resulted in rise in number of quick-service, pop & shop, and other types of restaurants. Moreover, changes in trends of food consumption and growth in need to reduce food wastage have led to the development of innovative kitchen equipment. These factors are anticipated to drive the growth of food service equipment market during the forecast period. Furthermore, continuous developments in cooling technologies and favorable government regulations to promote the production of eco-friendly refrigerators & ovens are expected to open new avenues for the food service equipment manufacturers. However, higher installation cost of equipment is anticipated to act as a restraining factor for their adoption, particularly in the developing regions.

Based on product, the market is segmented into cooking equipment, storage & handling equipment, warewashing equipment, and serving equipment. Cooking equipment generated the highest revenue in 2017, and is expected to dominate the market in the near future. Based on end use, the market is segregated into full-service restaurants & hotels, quick-service restaurants, and catering. Full-service restaurant & hotels held the maximum share in 2017, owing to the fact that they ensure premium quality food with high hygienic ambience and fuller table services. In addition, high disposable income results in increased dining out with entertainment options. These factors drive the growth of full-service restaurants & hotels.

By region, the food service equipment market is segmented across North America, Europe, Asia-Pacific, and LAMEA. In 2017, North America dominated the overall market, in terms of revenue, owing to high adoption of advanced technology and rise in demand for processed food in the market. The region is expected to maintain its dominant position throughout the analysis period, registering a CAGR of 4.7% from 2018 to 2025. However, Asia-Pacific food service equipment market is anticipated to grow at the highest CAGR of 8.4%.

Key Findings of the Food Service Equipment Market:

  • In 2017, North America accounted for the highest market share growing at a CAGR of 4.7% from 2018 to 2025.
  • In 2017, cooking equipment accounted for the highest market share, and is expected to growth at the highest CAGR of 6.0%.
  • Quick-service restaurants & pubs is projected to grow at the highest CAGR of 8.5%.
  • In 2017, the U.S. accounted for the highest market share, and is anticipated to grow at a CAGR of 4.8%.
  • Asia-Pacific is anticipated to grow at the highest CAGR of 8.4% from 2018 to 2025.

In terms of value, Asia-Pacific and LAMEA collectively accounted for more than one-third of the share in the food service equipment market in 2017.

The major players profiled in this report include Alto-Shaam, Inc., Cambro Manufacturing Co. Inc., Castle Stove, Duke Manufacturing Co. Inc., Dover Corporation, Electrolux, Illinois Tool Works Inc., Ali S.p.A, Middleby Corporation, and Welbilt, Inc.

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Shaun Godinho
Communications Officer
Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

 
 

First time buyer?
Check offers and discount on this report
To get this report

 
Click Here
 
 

quote Food Service Equipment Market by Product (Cooking Equipment, Storage & Handling Equipment, Warewashing Equipment, Food & Beverage Preparation Equipment, and Serving Equipment) and End Use (Full-service Restaurants & Hotels, Quick-service Restaurants & Pubs, and Caterings) - Global Opportunity Analysis and Industry Forecast, 2018-2025 quote

View Report
 
 

Why Allied Market Research?

 

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of scope of the report to exactly meet your needs

Targeted Market View

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
 

Get Fresh content delivered

Get insights on topics that matter to your business. Stay updated on the area that interests you.

 
Get Industry Data Alerts
 

Buy Full Version
"Food Service Equipment Market"
Purchase Enquiry