Food Service Equipment Market Analysis, Size, Growth, Share, Trend, Outlook & Forecast 2022 -
2030
Food Service Equipment Market Growth & Trends
The global food service equipment market size is estimated to reach USD 57.31 billion by 2030, registering an estimated CAGR of 6.4% from 2022 to 2030, according to a new report by Grand View Research, Inc. The increasing trade activities in the food & beverage industry, upsurge in travel & tourism activities, changing food consumption habits, and rise in disposable incomes are some of the key factors driving the growth of this market.
Equipment manufacturers are focusing on mergers & acquisitions to introduce state of the art product offerings for attaining a competitive edge in the market. For instance, in 2019, SMEG S.p.A collaborated with Dolce & Gabbana S.r.l. for special styling of Fab28 SMEG refrigerator, which was encouraged by old Sicilian art. This collaboration was aimed at developing products in captivating designs consumers would like to incorporate in their modular, open commercial kitchen spaces.
The pressing need to conserve energy has compelled manufacturers to focus on the development of energy efficient appliances for commercial kitchens. Appliances are being integrated with bidirectional Internet of Things (IoT) connectivity. These connected appliances can automatically alert kitchen staff to increase preparation uptime. Additionally, the increasing number of restaurants across the globe is also driving the market. As per the National Restaurant Association, the U.S region itself accounts for more than 1 million restaurants of different kinds and sizes.
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Food Service Equipment Market Report Highlights
The Asia Pacific region is estimated to emerge as the fastest growing regional market with a CAGR of close to 7.9% from 2022 to 2030
In terms of product, the kitchen purpose equipment segment dominated the market with a revenue share of over 38.3% of the overall market in 2021
Expanding at a CAGR of around 5.5% from 2022 to 2030, the Full Service Restaurant (FSR) end user segment is estimated to dominate the food service equipment industry over the forecast period
Food Service Equipment Market Segmentation
GrandViewResearchhassegmentedtheglobalfoodserviceequipmentmarketbasedon product,end user,andregion:
Food Service Equipment Product Outlook (Revenue, USD Billion, 2017 2030)
KitchenPurposeEquipment
o CookingEquipment
o Food&BeveragePreparationEquipment
RefrigerationEquipment
WareWashingEquipment
FoodHolding&StoringEquipment
Others
Food Service Equipment End-user Outlook (Revenue, USD Billion, 2017 - 2030)
FullServiceRestaurant(FSR)
QuickServiceRestaurant(QSR)
Institutional
Others
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Food Service Equipment Regional Outlook (Revenue, USD Billion, 2017 2030)
NorthAmerica
o U.S.
o Canada
Europe
o U.K.
o Germany
Asia Pacific
o China
o India o Japan
LatinAmerica
o Brazil
o Mexico
MiddleEast&Africa(MEA)
List of Key Players in the Food Service Equipment Market
ABElectrolux
AliGroupS.r.l.aSocioUnico
DoverCorporation
DukeManufacturing
HaierGroup
SMEGS.p.A.
TheMiddlebyCorporation
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Why Purchase this Report?
A strong research methodology was followed to collect data for the report. The data collected in this way are subjected to several quality checks to provide the best quality.
The report provides a holistic view of the competitive scenario Food Service Equipment Market.
The latest product launches, along with technological changes and developments, are included in the report.
The data analysis in the report will help you understand the Food Service Equipment Market dynamics projected from 2022 2030
The Report has a vast data store, so it can accommodate your custom needs as well.
Highlights Points of the Market:
The latest information on how the market is evolving to formulate their sales and marketing strategies. This Market report has been created to provide its readers with up to date information and analysis to uncover emerging opportunities for growth.
The market report covers the key challenges, competitive landscape, and demographic analysis that can help companies get insight into the country specific variations.
The analysts also emphasize on the key trends and the future opportunities that can be explored in the region than can help companies in revenue expansion.
To gain competitive intelligence about leading companies with information about their market share and growth rates.
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About Grand View Research
Grand View Research is a full time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as
Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.