Food Service Equipment Market Company Revenue Share, Key Driver, Industry Trends, Highest Revenue Growth, Development Factors

Global Food Service Equipment Market Overview

Food service equipment refers to a diverse range of appliances, machinery, and tools used in commercial food establishments to prepare, cook, serve, and store food. These equipment are essential for ensuring the smooth operation and efficiency of restaurants, hotels, cafeterias, catering businesses, and other foodservice establishments.

Moreover, increasing application areas of foodservice equipment across the food & beverage industry escalate the market growth to furthered height. In its foodservice equipment report, Market Research Future (MRFR) asserts that the market is expected to reach 32,014.0 million in 2022 to USD 45,046.9 million by 2030. MRFR, in its recent COVID 19 analysis on the global food service equipment market, also states that the market would register approximately 5.0% CAGR during the period (2022 -2030).

Besides, the rapidly growing food industry, including bakery & confectionaries, fosters the growth of the market. Increasing demand for energy-efficient products from quick-service restaurants and the quadrupling chain restaurants provide impetus to the market growth. Augmented uptake and demand for foodservice equipments worldwide encourage food service equipment manufacturers to bring more novelty in quality products.

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Major Players:

Players leading the food service equipment market include

• Duke Manufacturing Co. Inc. (US)
• Meiko (Germany)
• Tupperware Hobart Corporation (US)
• Manitowoc Company Inc. (US)
• Ali Group SpA (Italy)
• Hoshizaki Electric Co., Ltd (Japan)
• Dover Corporation (US)
• Fujimak Corporation (Japan)
• Electrolux AB (Sweden)
• Brands Corporation (US)

Global Food Service Equipment Market Segmentation

The report is segmented into three dynamics;

• By Product: Cooking Equipment, Storage & Handling Equipment, and others.
• By Application: Full-Service Restaurants, Quick Service Restaurants, Caterers, Hotels & Clubs, and others.
• By Regions: Europe, North America, APAC, and Rest-of-the-World.

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Regional Analysis

The study offers market insights for food service equipment across different regions: North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific food service equipment market had a value of USD 13,384.9 million in 2021 and is projected to experience substantial growth with a significant Compound Annual Growth Rate (CAGR) throughout the study period. This growth is primarily attributed to the rising demand for food service equipment in the Asia-Pacific region, driven by the rapid westernization of dining habits and the expansion of the tourism industry, particularly in countries like Singapore, Malaysia, Indonesia, and Australia. As more customers in the region explore new culinary experiences and develop a palate for diverse cuisines, restaurants are adapting by incorporating a variety of cuisines into their menus.

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