Food Service Equipment Market Share, Size, Trends, Industry Analysis Report, By Equipment (Food Preparation Equipment, Drink Preparation Equipment, Cooking Equipment, Warming & Holding Equipment, Refrigerators, Dishwashers), By Sales Channel, By End User, By Region, Segments & Forecast, 2024 – 2032
- Published Date:Jan-2024
- Pages: 116
- Format: PDF
- Report ID: PM1418
- Base Year: 2023
- Historical Data: 2019-2021
Report Outlook
The global food service equipment market was valued at USD 40.90 Billion in 2023 and is expected to grow at a CAGR of 5.30 % in the forecast period. The rising adoption of automation and efficiency in the food service sector, along with a focus on food safety and hygiene, is the major contributor to the demand for food service equipment in the forecast period. As the quick service becomes popular, various equipment such as ice cream makers, mixers, blenders, dishwashers, ovens, and slicers are increasingly being adopted.
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Food service equipment refers to the tools, devices, and machines used in commercial kitchens and other establishments to prepare, cook, and serve food. These range from small appliances like blenders and toasters to large commercial-grade equipment like ovens, fryers, and refrigerators.
The equipments is essential for any food-related business, such as restaurants, cafes, hotels, and catering companies. High-quality equipment can help improve the efficiency and productivity of a kitchen, reduce food waste, ensure food safety, and enhance the overall dining experience for customers. The most commonly used food service equipment includes cooking, refrigeration, food preparation, dishwashing, serving, storage, and beverage equipment.
Data from the National Restaurant Association in the US showed that the number of fast-food restaurants has been steadily increasing over the past decade, reaching over 200,000 in 2020. Similarly, the number of quick-service restaurants has also increased, with over 300,000 establishments in the US as of 2020. As the number of fast-food chains and quick-service restaurants continues to grow, the demand for the equipment is also expected to rise.
Moreover, with the COVID-19 pandemic, the demand for food service equipment has increased due to the need for more contactless and hygienic equipment to ensure food safety. It increased demand for touchless dispensers, mobile handwashing stations, and UV sterilizers. The equipment is a critical component of the food industry and is crucial in ensuring food is prepared, cooked, and served safely and efficiently. As the food industry grows and evolves, the demand for high-quality and innovative food service equipment will only continue to increase.
One of the restricting factors for the food service equipment market is the high equipment cost. Food service equipment can be expensive, especially for small and independent businesses, which may need more financial resources to invest in the latest and most advanced equipment. It leads to a disadvantage in efficiency and quality compared to larger competitors who can afford to invest in top-of-the-line equipment.
Furthermore, this market is highly competitive, with many players vying for market share. It is making difficulties for new entrants to gain a foothold in the market, especially if they do not have a unique value proposition or competitive advantage.
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Industry Dynamics
Growth Drivers
The rising adoption of automation and efficiency in the food service sector is a significant growth factor in the food service equipment market. With the increasing demand for quick and efficient food service, restaurants and providers are turning towards automated equipment to streamline operations and improve service quality.
Automated equipment such as self-serve kiosks, automated cooking equipment, and dishwashers with automatic cleaning cycles are becoming increasingly popular in the food service industry. These machines help reduce wait times, increase accuracy and consistency, and reduce labor costs. Additionally, automated equipment can operate 24/7, allowing businesses to maximize their efficiency and profitability.
Furthermore, using automation in food service equipment positively impacts food safety and hygiene. Automated equipment reduces the risk of cross-contamination and ensures that food is cooked and stored at the correct temperatures, minimizing the risk of foodborne illnesses.
Focus on food safety and hygiene is a significant growth factor in the market. For instance, equipment, such as food processors, blenders, and mixers, is designed to maintain strict hygiene standards and ensure food is free from contaminants. These machines have features such as easy-to-clean surfaces made from materials that can withstand high-temperature cleaning.
Report Segmentation
The market is primarily segmented based on equipment, sales channel, end user and region
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By Equipment |
By Sales Channel |
By End User |
By Region |
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The food preparation equipment segment is anticipated to witness the fastest CAGR in the forecast period.
One of the major drivers of growth of the segment is the increasing demand for convenience and ready-to-eat food products, which has led to a rise in the adoption of food preparation equipment in commercial kitchens. This equipment helps reduce the preparation time and increase food service operations' efficiency. Additionally, the growing trend of healthy eating and raising awareness about the nutritional value of food has led to a surge in demand for food processors, juicers, and blenders, which can help prepare healthy meals.
Moreover, the rise in the number of restaurants, cafes, and food service chains has also contributed to the growth of the food preparation equipment segment. These businesses require high-quality and reliable equipment to meet the increasing demand for food products. Furthermore, the expanding use of advanced technology in food preparation equipment, such as automation and IoT, has also led to widespread adoption in the food service industry.
The offline segment is anticipated to dominate the market in the forecast period.
In the food service equipment market, the offline distribution channel dominates, particularly commercial kitchen equipment. This is because many customers prefer to see and touch the equipment before purchasing it, and they often require installation and training services that are best provided in person.
Additionally, commercial kitchen equipment is often large and heavy, making shipping costs prohibitive for online sales. The channels allow customers to see the equipment and get advice from knowledgeable sales staff. Many equipment manufacturers have partnered with dealerships and showrooms to increase their presence in local markets.
Despite online sales growth, the offline segment is expected to remain dominant in the market for the foreseeable future. This is particularly true for high-end equipment and customized solutions, where customers will likely want a more personalized purchasing experience.
The quick Service Restaurants (QSR) segment is projected to witness the fastest growth rate in the forecast period.
One of the key growth factors for the QSR segment is the increasing demand for healthier food options. Consumers are becoming more health-conscious, and QSRs are responding by offering healthier menu options. It increased demand for food service equipment to accommodate these menu items, such as cooking vegetables and grilling.
Another growth factor for the QSR segment is the rising trend of customization. Consumers are increasingly looking for personalized experiences, including in their food choices. QSRs are responding by offering customizable menu items requiring specialized food service equipment to accommodate various food preferences and dietary restrictions.
The use of technology in QSRs is also driving growth in the food service equipment market. Many QSRs implement digital ordering systems and other technological innovations to improve the ordering process and customer experience. It increased demand for digital menu boards, self-service kiosks, and mobile ordering systems.
Finally, the increasing popularity of delivery and takeout options drives growth in the market. As more consumers opt for these options, QSRs must invest in equipment to accommodate the increased demand for food preparation and storage.
Asia Pacific region is projected to dominate the market in the forecast period.
The growth in this region can be attributed to various factors, such as the increasing adoption of Western-style fast food and the expanding hospitality sector. In countries like China and India, the demand for food service equipment is driven by the growing number of quick-service restaurants, cafes, and bars. The rise of urbanization and disposable incomes has also led to a change in consumer preferences toward modern food service equipment.
Moreover, the growing tourism industry in the Asia Pacific region has created a huge demand for food service equipment in the hospitality sector. The increase in hotels, resorts, and other accommodations has increased demand for commercial kitchen equipment and other food service appliances.
Another key driver for the market in the Asia Pacific region is the growing focus on food safety and hygiene. With the increasing number of food-borne illnesses and diseases, there is a need for advanced equipment that can ensure food safety and hygiene in the kitchen.
Furthermore, the increasing adoption of automation and technological advancements in the food service sector also drives the demand for food service equipment in the Asia Pacific region. The use of smart kitchen appliances and equipment that can enhance the cooking process and reduce cooking time is becoming increasingly popular among food service providers.
Competitive Insight
Some of the prominent key players operating in the marketspace includes Welbilt, The Middleby Corporation, Standex International Corporation, Dover Corporation, FUJIMAK CORPORATION, The Vollrath Company, LLC, Haier Inc., Ali Group S.r.l, LG Electronics, Robert Bosch, Panasonic Corporation, Samsung Electronics, Panasonic Electronics, Duke Manufacturers, ACP Solution Inc.
Recent Developments
- August 2022: Samsung Electronics has launched Bespoke AI Oven in the European market, designed with various intelligent features that make cooking a healthful experience.
- April 2022: LG Electronics has introduced a new lineup of home appliances backed by AI technology, such as Frost-Free Refrigerators, UV+UF Water Purifiers, Charcoal Microwaves, and AI Direct Drive Washing Machines for Indian consumers.
Food Service Equipment Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 42.65% Billion |
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Revenue forecast in 2032 |
USD 64.53 Billion |
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CAGR |
5.30% from 2024 - 2032 |
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Base year |
2023 |
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Historical data |
2019 - 2022 |
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Forecast period |
2024 - 2032 |
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Quantitative units |
Revenue in USD Billion and CAGR from 2024 to 2032 |
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Segments covered |
By Equipment, By Sales Channel, By End User, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Key companies |
Welbilt, The Middleby Corporation, Standex International Corporation, Dover Corporation, FUJIMAK CORPORATION, The Vollrath Company, LLC, Haier Inc., Ali Group S.r.l, LG Electronics, Robert Bosch, Panasonic Corporation, Samsung Electronics, Panasonic Electronics, Duke Manufacturers, ACP Solution Inc. |
FAQ's
key companies in food service equipment market are Welbilt, The Middleby Corporation, Standex International Corporation, Dover Corporation, FUJIMAK CORPORATION, The Vollrath Company, LLC
The global food service equipment market expected to grow at a CAGR of 5.20% in the forecast period.
The food service equipment market report covering key segments are equipment, sales channel, end user and region
key driving factors in food service equipment market rise in preference for quick-service restaurants.
The global food service equipment market size is expected to reach USD 64.53 Billion by 2032.
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