IMARC Group, a leading market research company, has recently releases report titled “Food Service Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global food service equipment market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the food service equipment market?
The global food service equipment market size reached US$ 36.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 49.7 Billion by 2028, exhibiting a growth rate (CAGR) of 5.2% during 2023-2028.
What is food service equipment?
Food service equipment includes the tools, utensils, crockery, and cutlery that help in preparing, storing, and serving food. It is usually available in numerous types according to food service areas. For instance, storage racks, trolleys, measuring cups, etc., are used for food storage. Food service equipment also includes modular gas, fryers, wet grinders, molding machines, etc., which are utilized to prepare and cook food items. Presently, automated multi-use equipment finds extensive applications for making food at home or restaurants while reducing human efforts and time.
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What are the growth prospects and trends in the food service equipment industry?
The increasing consumption of fast food, the elevating levels of urbanization, and the inflating disposable income levels of consumers are primarily driving the food service equipment market. Furthermore, the rising health consciousness among consumers, in addition to the growing focus on enhancing food safety by cafes and restaurants, is propelling the product demand. Apart from this, various government bodies of several countries are implementing stringent food control standards to ensure and safeguard public health and hygiene, which is further catalyzing the market growth. Moreover, the accelerating popularity of food tourism and luxury hotels is also augmenting the global market. In the coming years, the escalating adoption of smart equipment that aids restaurants in cutting down wastage, improving traceability, reducing costs, etc., is expected to fuel the food service equipment market.
What is included in market segmentation?
The report has segmented the market into the following categories:
Product Type Insights:
- Cooking Equipment
- Storage and Handling Equipment
- Warewashing Equipment
- Food and Beverage Preparation Equipment
- Serving Equipment
Distribution Channel Insights:
- Online
- Offline
End Use Insights:
- Full-service Restaurants and Hotels
- Quick-service Restaurants and Pubs
- Catering
Breakup by Region:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- AB Electrolux
- Ali group s.r.l. a socio unico
- Alto-Shaam Inc.
- Cambro Manufacturing
- Comstock-Castle Stove Co. Inc
- Dover Corporation
- Duke Manufacturing
- Illinois Tool Works Inc.
- The Middleby Corporation
- Welbilt
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