Food Service Equipment Market by Product Type (Cooking Equipment, Storage & Handling Equipment, Ware Washing Equipment, Serving Equipment), by End User (Full-Service Restaurants & Hotels, Quick Service Restaurants & Pubs, Catering), and by Region (North America, Europe, Asia Pacific, Latin America, MEA), - Global Forecasts 2017 to 2027

Date : Jul 2021

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Report ID : 91

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Category : F&B equipment

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Report Format:  PDF EXCEL PPT WORD

The global food service equipment market was valued US$ 35.40 Bn in 2020 is expected to reach US$ 46.38 Bn by 2027, with a growing CAGR of 4.1% during the forecast period (2021-2027).

Food service equipment is utilized for the preparation and storage of food items for commercial purposes. This equipment incorporates cooking equipment, storage & handling equipment, ware washing equipment, food & beverage preparation equipment, and serving equipment. This equipment are majorly applied across various applications in the food service industry such as in restaurants, hotels, and other commercial kitchens.

Food Service Equipment Market

Advancements in automated technologies is the key driver that has accelerated the growth of food service equipment market. The manufactures focus on the cost-effective services that can be provided to improve the food quality. In the present situation, it has become compulsory to monitor and cater the qualitative services of any equipment. Remote maintenance and self-diagnosis features are executed for interconnected and savvy activities, in this way perceiving the working of food service machinery. These equipment help to maintain hygiene, accurate temperature, and sterilizations of utensils that are used for food preparation and services. Companies operating in the industry are developing product based on artificial intelligence (AI) and IoT technology to enhance the user experience. For instance, In July 2020, In India, Samsung, expanded its Internet of Things (IoT) with the launch of the connected SpaceMax Family HubRefrigerator. The SpaceMax Family HubRefrigerator comes with features that automates meal planning, lets you see inside the refrigerator from anywhere, and connect with other smart appliances like smartphones and others, letting you watch your favorite TV show on the refrigerator’s massive entertainment screen while working in the kitchen.

In addition, the increasing awareness about energy consumption and eco-friendly initiatives facilitates consumers to adopt energy-efficient appliances. Energy consumption norms across the world emphasize reducing the Green House Gas (GHG) emissions to mitigate the rising impact of global climate change. Customers are increasingly choosing appliances holding the ENERGY STAR symbol, a mark of energy-efficiency of the equipment, which helps restaurants, institutional kitchens, and cafes save energy while also reducing maintenance and utility costs. For instance, according to the report published by the Energy Star program of U.S, Environmental Protection Agency (EPA), in 2018, food service equipment with the ENERGY STAR symbol helps the end-use operators to save USD 5,300 or around 340 MMBTU per year.

The Global Food Service Equipment Industry Segmentation:

  • By Product Type
    • Cooking Equipment
    • Storage & Handling Equipment
    • Ware Washing Equipment
    • Serving Equipment
  • By End User
    • Full-Service Restaurants & Hotels
    • Quick Service Restaurants & Pubs
    • Catering
  • By Region
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa

Company Profiles and Competitive Intelligence

The key players operating in the market are:

  • Duke Manufacturing
  • Electrolux
  • Dover Corporation
  • Illinois Tool Works Inc.
  • Ali Group S.r.l. a Socio Unico
  • Welbilt
  • The Middleby Corporation
  • Alto-Shaam, Inc.
  • Comstock-Castle Stove Co., Inc.
  • Cambro
  • Haier Group
  • SMEG S.p.A.
  • AMTek Microwaves
  • AMERICAN RANGE
  • APW Wyott
  • Dragon Food Equipment Inc.
  • F&H
  • Food Processing Equipment
  •  Frymaster
  • Henny Penny
  • Hobart
  • Hoshizaki America, Inc.
  • KitchenAid
  • RISCO S.p.A.
  • RMF
  • R.M Kitchen Equipments Pvt. Ltd.
  • Somerset Industries, Inc.
  • The Vollrath Company, LLC
  • VR Food Equipment

The unique insights provided by this report also includes the following:

  1. In-depth value chain analysis
  2. Opportunity mapping
  3. Sector snapshot
  4. Key Players Positioning Matrix
  5. Regulatory scenario
  6. Strategies Adopted-Benchmarking Heat Map
  7. Market trends
  8. Covid-19 impact analysis
  9. Product comparison
  10. Pre & Post COVID 19 impact on food service equipment market
  11. Competitive Landscape

Based on product type, the cooking equipment segment is expanding at a growth rate of 5.4% during the period 2021-2027.

The cooking equipment segment is anticipated to grow at the highest CAGR during the forecast period. This growth can be attributed to the rise in popularity of creative cooking and baking methods that has resulted in variety of dine out options for consumers. Thus, to offer best services to customers, restaurants invest in different types of cooking equipment, which accelerated the demand for food service equipment products. Storage & handling equipment is the second highest revenue contributor in the food service equipment market as there is always demand for temperature-controlled storage equipment for perishable and processed food items.

Based on the end-user, the full-service restaurants & hotels accounted for a 40% share in the overall food service equipment market size, followed by the quick service restaurants & pubs and catering.

The full-service restaurants & hotels are expected to hold the largest revenue share throughout the period. The growth in this segment is attributed to the advent of digital dining trends, which has forced food service operators to deploy modern equipment to speed up the preparation process and reduce delivery uptime. The subsequent shift in the dine-out culture for formal events as well as informal gatherings during travel & tourism activities has increased the footfall in full-service restaurants over the past few years.

Further, the quick-service restaurants (QSRs) segment is expected to grow at a substantial growth rate during the forecast period. The growth in this segment is attributed to the increase in the working population, rising disposable incomes, and globalization of the prominent restaurant chains by establishing franchisee joints. Moreover, rising demand for ready-to-cook food to save the time of consumers will create the ample demand for quick-service restaurants.

Based on regions, the market for food service equipment in Asia-Pacific accounted for the largest revenue share in 2020, followed by North America and Europe.

Asia-Pacific accounted for the highest revenue share of near to 35.0% in 2020 and is predicted to maintain its dominance within the market throughout the forecast period. Rapidly westernizing dining customs and expansion of the tourism sector, particularly in Singapore, Malaysia, Indonesia, and Australia, are accelerating the demand for food service equipment within the region. Furthermore, restaurants are including multiple cuisines in their menus due to an increasing number of consumers experimenting with new foods and developing a taste for various cuisines. Additionally, the increasing consumption of processed foods is projected to make an attractive demand for these appliances within the region.

North America is anticipated the grow at the second-highest CAGR in the food service equipment market during the forecast period owing to the presence of well-established brands such as McDonald's, Burger King Corporation, KFC Corporation, and Starbucks Coffee Company. Moreover, government dynamism to influence the tourism sector and immigration in the country are expected to elevate the restaurant industry in the near future, which, in turn, create the lucrative opportunity for the deployment of this equipment within the region.

The report also provides an in-depth analysis of food service equipment market dynamics such as drivers, restraints opportunities, and challenges

Drivers

  • Increasing demand of food coupled with rising population
  • Rising demand for ready-to-cook food
  • Growing awareness about energy-efficient equipment
  • Adoption of automated technology

Restraints

  • High cost of advanced machinery
  • Rising food safety concerns due to COVID-19

Opportunities

  • Demand for Energy Efficient and IoT-Based Solutions

COVID-19 Impact on the Food Service Equipment Market Analysis

The impact of COVID-19 has greatly affected the market of the food service equipment industry. The momentum dropped globally, both from usage frequency and stimulation of new and replacement demand. The stringent policies and regulations from the local and national governments greatly restricted the movement of goods and distribution of equipment, including food service equipment where the situation was highly challenging for the vendors in the industry. Sustaining in such uncertain economic conditions acted as an opportunity for the vendors to strategize for the upcoming market threats and hazards.

The report also provides an in-depth analysis of key trends in the food service equipment market

Sr. No. Trends Impact
1 Automated technology is the key trend in the food service industry. People expect fast service, personalization, and convenience in all aspects of their lives, and that includes a more convenient and customized dining experience. Positive
2 On-site composting and recycling bins are the key trends in the food service industry that require specialized equipment to reduce food waste. Positive
3 The concepts of visually appealing and multi-functional cooking equipment are the major trends among the customers. Positive

The report also provides an in-depth analysis of recent news developments and investments

  1. In May 2021, Welbilt, Inc., a leading global provider of commercial foodservice equipment partnered with Nuovair, a specialist in the field of high-quality blast chillers. This partnership assisted the company to provide the supply of powerful blast chillers in North America.
  2. In April 2021, The MiddlebyCorporation, a global leader in the foodservice equipment industry acquired Welbilt, a leading global provider of commercial foodservice equipment. This acquisition created a broad commercial foodservice equipment platform with enhanced ability to serve customers through a combination of distinct but complementary portfolios with leading brands and a broad geographic footprint.

 


Frequently Asked Questions (FAQs)

How big the global food service equipment market?

The global food service equipment market was valued at US$ 35.40 in 2020 and is anticipated to reach US$ 46.38 Mn by 2027

What is the estimated market growth rate of food service equipment industry?

The food service equipment market is estimated to grow at a compound annual growth rate (CAGR) of 4.1% during 2020-2027

What is the share of Asia Pacific in food service equipment market?

In the base year 2020, Asia Pacific accounted for 35.0% share in the food service equipment market

Who are the key players in the food service equipment industry?

A few key players include, but not limited to: Duke Manufacturing, Electrolux, Dover Corporation, Illinois Tool Works Inc., Ali Group S.r.l. a Socio Unico, Welbilt, The Middleby Corporation, Alto-Shaam, Inc., Comstock-Castle Stove Co., Inc., Cambro.

Author Credentials

Priyanka has been writing chemicals & material market research reports for the last 12 years. A post-graduate, her specialization is in the chemicals sector. Preparing end-to-end reports covering minute details for market insights, competitive intelligence and trend analysis in the CMFE sector.

  1. Market Introduction
    1. Definition
    2. Scope Of The Study
    3. List Of Assumptions
    4. Market Structure
    5. Scope of the Study: Segmentation 
    6. Timeframe, Currency and Limitations
  2. Research Methodology
    1. 3P Research Approach
    2. Market Sizing Approach
    3. Data Sources
    4. Primary Research Coverage
  3. Executive Summary
    1. Market Summary
    2. Market Snapshot
    3. Regional Snapshot
    4. Country Snapshot
  4. Premium Insights
    1. Key Trend Analysis
    2. New revenue Pockets
    3. Pain Point Analysis
    4. Company Market Share Analysis, by Region
    5. Strategies Adopted-Benchmarking Heat Map
    6. Regulatory Landscape
    7. PESTEL Analysis
    8. Regional Lifecycle
    9. Competitive Benchmarking
  5. Market Overview & Competitive Landscape
    1. Competitive Landscape
    2. Investment Scenario by key Players
    3. Key Player Overview
    4. Product comparison
    5. Player Wise Geographic Presence
    6. Player Wise Target Customer Segment
    7. Recent News
      1. Product Launches & upgrades
      1. R&D / Innovation
      2. Merger & Acquisition
      3. JV & Partnership
      4. Recognition and others
  1. Market Segmentation (Market Size and Share Analysis)
    1. Global Market Size & Historic Growth
    2. Market Size by Product Type
      1. Cooking Equipment
      1. Storage & Handling Equipment
      2. Ware Washing Equipment
      3. Serving Equipment
    1. Market Size by End User
      1. Full-Service Restaurants & Hotels
      1. Quick Service Restaurants & Pubs
      2. Catering
  1. Market Dynamics
    1. Market Drivers
    2. Opportunities
    3. Value Chain Analysis
    4. Pricing Analysis
  2. COVID – 19 Opportunity Mapping
    1. Key Drivers & Anticipated Revival Period
    2. Key Trends Analysis
    3. Impact on End user Industry
    4. Opportunity Analysis
  3. Regional Market Analysis
    1. North America
      1. US
      1. Canada
    1. Europe
      1. UK
      1. Germany
      2. France
      3. Italy
      4. Spain
      5. Rest of Europe
    1. APAC
      1. China
      1. India
      2. Japan
      3. South Korea
      4. Rest of APAC
    1. Latin America
      1. Mexico
      1. Brazil
      2. Argentina
      3. Rest of LATAM
    1. Middle East & Africa
      1. GCC
      1. Rest of MEA
  1. Company Profiles
    1. Duke Manufacturing
      1. Company Fundamentals
      1. Financial Analysis (Subject to Availability)
      2. Product Portfolio
      3. SWOT Analysis
    1. Electrolux
    2. Dover Corporation
    3. Illinois Tool Works Inc.
    4. Ali Group S.r.l. a Socio Unico
    5. Welbilt
    6. The Middleby Corporation
    7. Alto-Shaam, Inc.
    8. Comstock-Castle Stove Co., Inc.
    9. Cambro
    10. Other Notable Players
      1. Haier Group
      1. SMEG S.p.A.
      2. AMTek Microwaves
      3. AMERICAN RANGE
      4. APW Wyott
      5. Dragon Food Equipment Inc.
      6. F&H
      7. Food Processing Equipment
      8.  Frymaster
      9. Henny Penny
      10. Hobart
      11. Hoshizaki America, Inc.
      12. KitchenAid
      13. RISCO S.p.A.
      14. RMF
      15. R.M Kitchen Equipments Pvt. Ltd.
      16. Somerset Industries, Inc.
      17. The Vollrath Company, LLC
      18. VR Food Equipment
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