The global food service equipment market size was estimated to be US$ 33.5 billion in 2020 and is expected to reach US$ 58.3 billion by 2031 at a CAGR of 5.1%.
The food service equipment is primarily used to add on to the aesthetic effect to the food joint's ambience and to lift the visitor experience.
This equipment can be sorted into various groups, for example, equipment utilized for kitchen faculty, cooking, product washing, food storage and disposal, and discrete other kinds of equipment. Crystal made equipment, including glass and drink ware, are typically utilized for drinking purposes. Different kinds of silverware and ceramic ware cutlery are regularly utilized for serving meals.
Food service equipment fluctuate in size and reach, contingent upon the sort of cordiality required by the organizations and their individual requirements. The stationing of proper kitchen apparatuses is an unquestionable requirement while setting up business or restoring a current spot to guarantee smooth activities. Changing way of life with more cooperation of ladies in the working class has created more interest for different kitchen machines for simple and fast readiness of food.
The equipment that is utilized to execute diverse food service activity range are seen to be rising in demand since past few decades. Also, the quick digitization and the rising appropriation of mechanically progressed items will supplement the developing interest of the worldwide food service equipment market during the speculation time frame.
Changing social traditions, combined with mechanical betterment, have made a powerful commercial center for the equipment utilized in the end-use area. From the variety of equipment for making and disposing away food, like cooking ovens, ranges, and electrical coolers, to the accessibility of custom food service apparatuses to cook various foods, the scope of mechanically progressed and creative component parts has entered the market over the course of the years, is likewise expected to support the market development in the more extended run.
In 2020, Duke Assembling reported a concurrence with the Compass Group North America. Through this understanding, Duke Assembling will turn into an endorsed food service equipment provider specially of Compass Gathering.
The rising requirement for electrical amenities and the huge change in the purchaser's inclination towards automation like kitchen are the two significant drivers boosting the demand of this segment. While the eat in café crowd is relied upon to take more time to reach normalcy, end-clients are postulated to recuperate through off-premises, takeaways, and online conveyance services. Latin America is expected to observe huge development during the surmisal period, attributable to the rising demand for take away or home food items delivery services.
Global Food Service Equipment Market Value Share Analysis, by Geography (2022)
The report titled “Global Food Service Equipment Market - Global Market Share, Trends, Analysis and Forecasts, 2023-2033”, wherein 2021 is the historic period, 2022 is the base year, and 2023 to 2032 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the Global Food Service Equipment Market.
Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market.
The global Food Service Equipment market is segmented based on Product, end use, and region. Based on Product, the Food Service Equipment market is segmented into Kitchen Purpose Equipment, Cooking Equipment, Food & Beverage Preparation Equipment, Refrigeration Equipment, Ware Washing Equipment, Food Holding & Storing Equipment, others. Based on End use, the Food Service Equipment market is segmented into Full-Service Restaurant (FSR), Quick Service Restaurant (QSR), Institutional, others.
Based on geography, the Global Food Service Equipment Market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is sub-segmented into the United States, Canada, and Rest of North America. Europe is sub-segmented into Germany, United Kingdom, Italy, France, Spain, and Rest of Europe. Asia Pacific is sub-segmented into China, Japan, India, Australia, and Rest of Asia Pacific. Middle East & Africa is sub-segmented into Saudi Arabia, UAE, South Africa, and Rest of Middle East & Africa. South America is sub-segmented into Brazil and Rest of South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment and would identify the segment of the company focusing on Global Food Service Equipment Market. Further, market share of prominent companies in the Global Food Service Equipment Market would also be estimated.
The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, swot analysis, and research and development focus of all the Food Service Equipment companies. The Global Food Service Equipment Market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution.
Product portfolio would focus on all the products under the Food Service Equipment business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the Global Food Service Equipment Market.
The key players of the Global Food Service Equipment Market are AB Electrolux, the Middleby Corporation, Dover Corporation, Duke Manufacturing, Ali Group S.r.l. Socio Unico, Haier Group, SMEG S.p.A., and others.
Global Food Service Equipment Market Key Segments:
Based on Product
Based on End user
By Region
The global Food Service Equipment market was worth US$ 33.5 billion in 2020.
The global Food Service Equipment market is expected to register a CAGR of 5.1% by 2031.
AB Electrolux, the Middleby Corporation, Dover Corporation, Duke Manufacturing, Ali Group S.r.l. Socio Unico, Haier Group, SMEG S.p.A. are few prominent players active in the market.
Asia Pacific is the principal contributor to the global Food Service Equipment market.
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