Expert Market Research’s new report titled ‘Global Foodservice Equipment Market Report and Forecast 2022-2027’, gives an in-depth analysis of the Foodservice Equipment market, assessing the market supported by its segments such as Type of product, application, end-users and major regions. The report tracks the latest industry trends and studies their impact on the market in general. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2017-2027)
- Historical market size: $30.4 billion
- Expected CAGR (2022-2027): 5.7%
- Expected market size: $42.4 billion
Various entry factors, such as growth in the hospitality industry, changing eating habits, and rising demand for takeout, are propelling the market forward. Furthermore, factors such as the need for durable and eco-friendly utensils, along with stringent standards governing end-user safety and expanding digitalization, are expected to provide significant growth prospects in the industry. catering equipment in the near future.
In response to changing end-user expectations for kitchen installation, the market has grown rapidly. A booming market for end-use equipment has emerged due to changing socio-political contexts and technological advancements.
Industry definition and major segments
Catering equipment is a type of storage and preparation equipment used in the food and beverage industry. They are common in restaurants and commercial kitchens, and they are also common in home kitchens. These appliances contribute to the efficient cooking, storage and handling of food, as well as increasing user productivity.
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The catering equipment industry can be segmented based on product and end use.
Based on the product:
- kitchen equipment
- Kitchen and bakery utensils
- Storage and handling equipment
- Food bags and containers
- Food warmers
- dishwashing equipment
- Utensil washer
- Auxiliary heaters
- Food and Beverage Preparation Equipment
- Mixers, blenders and grinders
- Food processors and juicers
- food preparation tools
- Serving equipment
Based on end use:
- Full service restaurant and hotel
- Quick Service Restaurant and Pub
Based on regional markets, the Foodservice Equipment industry segmentation includes North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.
Due to the integration of technologies such as machine learning and artificial intelligence (AI) in catering equipment to develop intelligent equipment that can reduce labor and food waste and optimize kitchen storage, catering equipment industry is expected to witness strong growth during the forecast period. . Additionally, the increasing use of the Internet of Things (IoT) in food service equipment such as refrigerators, freezers, ovens and cooktops with built-in sensors to monitor temperature, humidity and voltage in restaurants and full-service hotels is expected to drive industry growth. Also, widespread IoT applications in ventilation systems to monitor fire threats and deep fryers that can change their own oil are expected to help drive the market growth.
With booming industrial growth, the income levels of the working population are rising along with their spending capacity, leading to increased dining in hotels, full-service restaurants and pubs, among other places, boosting the catering equipment industry. Additionally, people’s growing willingness to spend on household kitchen equipment such as fryers, ovens, and dishwashers, which save time and manual labor, is fueling the growth of the industry. Additionally, the rise of casual dining in quick service restaurants is driving the growth of the market, especially among teenagers and young people.
Main market players
The major market players are Ali Group SRL a Socio Unico, Alto-Shaam, Inc, Cambro Manufacturing Company Inc, Duke Manufacturing Co., Comstock-Castle Stove Co. Inc and others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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