Global Food Service Equipment Market, By Product Type (Cooking Equipment, Storage and Handling Equipment, Ware washing Equipment, Food and Beverage Preparation Equipment, Serving Equipment, Others), End User (Full Service Restaurant, Quick Service Restaurant, Institutional, Hotels and Clubs, Caterers, Other), Distribution Channel (Online, Offline) – Industry Trends and Forecast to 2030.
Food Service Equipment Market Analysis and Size
The food service equipment market is experiencing substantial growth due to the expansion of the food and beverage industry, increasing demand for energy-efficient and cost-effective equipment, and heightened consumer awareness of high-quality food products. The surge in ready-to-eat food consumption, along with rising disposable incomes, further fuels this growth. However, challenges arise from the complexity of using certain equipment, high associated costs, increased energy consumption, and a shortage of skilled operators, potentially limiting the market's scope and pace of development.
Data Bridge Market Research analyses the global food service equipment market which was USD 36.88 billion in 2022, is expected to reach USD 47.49 billion by 2030, and is growing at a CAGR of 3.21% in the forecasted period of 2023 to 2030. "Cooking Equipment" dominates the product type segment of the global food service equipment market due to the continuous demand for cooking appliances in restaurants and commercial kitchens, driven by the need to prepare a wide variety of dishes efficiently. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Billion, Pricing in USD
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Segments Covered
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Product Type (Cooking Equipment, Storage and Handling Equipment, Ware washing Equipment, Food and Beverage Preparation Equipment, Serving Equipment, Others), End User (Full Service Restaurant, Quick Service Restaurant, Institutional, Hotels and Clubs, Caterers, Other), Distribution Channel (Online, Offline)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, and Rest of Middle East and Africa
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Market Players Covered
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Hobart Corporation (U.S.), Manitowoc Foodservice (U.S.), Ali Group (Italy), Middleby Corporation (U.S.), ITW Food Equipment Group (U.S.), Hoshizaki Corporation (Japan), FWE - Food Warming Equipment Co., Inc. (U.S.), Standex International Corporation (U.S.), Fagor Industrial (Spain), Dover Corporation (U.S.), Rational AG (Germany), and Alto-Shaam, Inc. (U.S.)
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Market Opportunities
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Market Definition.
Food service equipment refers to a diverse range of specialized tools, appliances, machinery, and utensils used in the preparation, cooking, storage, serving, and handling of food in the food and beverage industry. This category includes cooking equipment such as stoves and ovens, storage and handling equipment such as refrigerators and food storage containers, warewashing equipment for dishwashing, food and beverage preparation equipment such as blenders and mixers, serving equipment including buffet stations and trays, and various other devices essential for commercial food service operations. These items are designed to meet industry standards for efficiency, safety, and food quality.
Global Food Service Equipment Market Dynamics
Drivers
- Growth in the Food and Beverage Industry
The flourishing food and beverage industry, marked by the rising number of restaurants, fast-food chains, and cafes, fuels the demand for food service equipment. Commercial kitchens and food preparation establishments require specialized equipment to meet customer demands efficiently.
- Demand for Energy-Efficient Equipment
Escalating environmental concerns and the need for energy conservation drive the adoption of energy-efficient food service equipment. Manufacturers are increasingly focusing on creating appliances that not only reduce operational costs but also have a smaller ecological footprint, aligning with sustainability trends.
Opportunities
- Rising Demand for Advanced Refrigeration
Advanced refrigeration technology is increasingly sought after as food safety and preservation gain importance. The market has an opportunity to cater to the growing need for modern refrigeration solutions that meet stringent regulatory requirements.
- Innovation and Quality Focus
Manufacturers emphasizing innovation and quality enhancement can position themselves advantageously. Meeting changing consumer preferences, such as increased demand for eco-friendly appliances and appliances that offer greater efficiency, presents a lucrative opportunity.
Restraints/Challenges
- High Equipment Costs
The food service equipment market is limited by the significant costs associated with advanced appliances. These high prices can be a deterrent for smaller businesses and start-ups looking to invest in the latest equipment, potentially restraining market expansion.
- Complex Application
Certain food service equipment can be intricate to operate effectively, requiring skilled personnel. This complexity poses a challenge, as it necessitates specialized training and expertise for seamless operation, which may not always be readily available.
Recent Developments
- In August 2023, The Middleby Corporation has acquired Trade-Wind Manufacturing LLC, known for its innovative residential ventilation solutions. This strategic addition complements Middleby's residential cooking brands, fostering synergy and growth opportunities
- In May 2022, ITW Food Equipment Group is presented its latest kitchen equipment innovations at the National Restaurant Show in Chicago, featuring brands such as Hobart, Vulcan, and more, with a focus on high performance and energy efficiency
Global Food Service Equipment Market Scope
The global food service equipment market is segmented on the product type, end user and distribution channel. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Cooking Equipment
- Storage and Handling Equipment
- Ware Washing Equipment
- Food and Beverage Preparation Equipment
- Serving Equipment
- Others
End User
- Full Service Restaurant
- Quick Service Restaurant
- Institutional
- Hotels and Clubs
- Caterers
- Other
Distribution Channel
- Online
- Offline
Global Food Service Equipment Market regional analysis/insights
The global food service equipment market is analyzed and market size insights and trends are provided by country, product type, end user and distribution channel as referenced above.
The countries covered in the global food service equipment market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates and the global food service equipment market due to the rapid growth of the food and beverage industry, urbanization, and changing consumer preferences in the region.
North America region is expected to witness significant growth during the forecast period of 2022 to 2030 due to the high demand for innovative and energy-efficient equipment, a well-established food industry, and evolving consumer tastes.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Food Service Equipment Market Share Analysis
The global food service equipment market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to global food service equipment market.
Some of the major players operating in the global food service equipment market are:
- Hobart Corporation (U.S.)
- Manitowoc Foodservice (U.S.)
- Ali Group (Italy)
- Middleby Corporation (U.S.)
- ITW Food Equipment Group (U.S.)
- Hoshizaki Corporation (Japan)
- FWE - Food Warming Equipment Co., Inc. (U.S.)
- Standex International Corporation (U.S.)
- Fagor Industrial (Spain)
- Dover Corporation (U.S.)
- Rational AG (Germany)
- Alto-Shaam, Inc. (U.S.)
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