November 27, 2022

According to the latest report, titled “Food Service Equipment Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast’ the India facility management market is expected to exhibit a Huge CAGR during the Forecast Period. The global food service equipment market size was USD 33.85 billion in 2019 and is projected to reach USD 46.38 billion by 2027, exhibiting a CAGR of 4.1% during the forecast period.

This COVID-19 analysis of the report includes COVID-19 IMPACT on the production and, demand, supply chain. This report provides a detailed historical analysis of the global Food Service Equipment Market by region/country and subsectors. The report covers the revenue, sales volume, price, historical growth, and future perspectives in the Food Service Equipment Market.

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A few top players in the industry are

  • Welbilt (New Port Richey, Florida)
  • The Middleby Corporation (Elgin, Illinois)
  • Ali Group S.r.l. (Milan, Italy)
  • Standex International Corporation (Salem, New Hampshire)
  • Hoshizaki America, Inc. (Peachtree City, Georgia)
  • FUJIMAK CORPORATION (Shinbashi, Tokyo)
  • ITW FOOD EQUIPMENT GROUP (Troy, Ohio)
  • Dover Corporation (Downers Grove, Illinois)
  • Duke Manufacturing (‎St. Louis, Missouri‎)
  • The Vollrath Company, LLC (Sheboygan, Wisconsin)
  • Haier Inc. (Qingdao, China)
  • Smeg S.p.A. (Guastalla, Italy)

The report gives a precise view of the future perspective and present market demands. The report also includes facts and statistics, tables & figures referred to in this report for strategic planning which leads to the success of the organizations. In this market report, the market share that various manufacturers hold in the global Food Service Equipment Market and the market concentration is described in the report.

Regional Analysis:

On the basis of Geography, the Global Food Service Equipment Market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America is expected to hold a considerable share in the global Food Service Equipment Market. Due to increasing investment for research and development process and adoption of solutions in the region whereas Asia-Pacific is expected to grow at a faster pace during the forecasted period.

The growing number of Food Service Equipment Market players across regions is expected to drive market growth further. Moreover, increasing investments by prominent vendors in product capabilities and business expansion is expected to fuel the market during the study period. Many market players are finding lucrative opportunities in emerging economies like China and India, where the large populations are coupled with new innovations in numerous industries.

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Increasing Number of Restaurants to Bolster Growth

According to a report by the IBISWorld, it is estimated that there are over 102, 389 restaurant chains across the U.S. in 2020. It is expected to rise exponentially in the forthcoming years. The growing urbanization and the increasing high disposable income among the working population are leading to the trend of eating food across hotels and restaurants. Additionally, changing taste preferences and the availability of different world cuisines is anticipated to drive the demand for this equipment across the globe. The increasing adoption of advanced food service machinery is further expected to bode well for the growth of the global food service machine market during the forecast period.

An overview of the Food Service Equipment Market’s regional outlook:

The market is divided into five regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa (MEA). North America is further subdivided into countries such as the United States and Canada. The Europe region is further divided into the United Kingdom, France, Germany, Italy, Spain, Russia, and the Rest of Europe. China, Japan, South Korea, India, Australia, South East Asia, and the rest of Asia Pacific are subdivided into Asia Pacific. The Latin America region is separated into Brazil, Mexico, and the rest of Latin America, whereas the MEA region is divided into GCC, Turkey, South Africa, and the rest of MEA.

SEGMENTATION:

Cooking & Preparation Equipment Segment Held 28.9% Market Share in 2019

The cooking & preparation equipment segment, based on by equipment, is expected to gain momentum owing to the increasing demand for the food service equipment across general and convenience stores. The segment held 28.9% market share in 2019.

FAQs:

  1. What is the driving factor for the growth of the Food Service Equipment Market?
  2. How will the COVID-19 pandemic impact the demand and consumption of the Food Service Equipment Market?
  3. What is the major application area of the Food Service Equipment Market?
  4. Who are the Food Service Equipment Market manufacturers across the globe?
  5. Which geographical location is dominant in the Food Service Equipment Market?
  6. Which are the top industry players in the Food Service Equipment Market?

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