Food Service Equipment Market: Transforming Commercial Kitchens

Projected to reach $44.8 billion by 2027, driven by innovations catering to evolving culinary demands and health standards.

WILMINGTON,NEW CASTLE, DELAWARE, UNITED STATES, April 21, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled “Food Service Equipment Market by Product Type and End Use: Opportunity Analysis and Industry Forecast, 2021–2027,” the global food service equipment market was valued at $34,252.0 million in 2019 and is projected to reach $44,810.8 million by 2027, registering a CAGR of 5.7% from 2021 to 2027.

𝐀𝐯𝐚𝐢𝐥𝐚𝐛𝐥𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐆𝐫𝐚𝐩𝐡𝐬 𝐚𝐧𝐝 𝐅𝐢𝐠𝐮𝐫𝐞𝐬 @ https://www.alliedmarketresearch.com/request-sample/1597

Food service equipment provides ease of food preparation in addition to food safety in commercial kitchens. Products such as refrigerators & freezers, display cabinets, cutlery, and bakery ovens are offered by prime companies, ensuring premium quality and low maintenance costs. Moreover, this equipment is necessary for providing food & beverage services in commercial kitchens, including restaurants, hotels, and quick-service restaurants. This in turn has fueled the food service equipment market demand in terms of value sales.

The outbreak of COVID-19 has severely hampered the growth of the food service equipment market. This is attributed to the fact that the food service equipment industry is heavily dependent on the hospitality sector for its revenue generation. The recent declaration regarding the shutdown of a notable proportion of the hospitality industry, including full-service restaurants, pubs & bars, and quick-service restaurants, has dramatically hampered the sale of foodservice equipment.

The development of the hospitality industry is anticipated to drive the growth of the food service equipment market. Moreover, a rise in business-related travel, a surge in urban population, and a rise in the number of food joints such as hotels and restaurants fuel the growth of the hospitality industry, thereby driving the growth of the food service equipment market. Changes in food habits and the busy lifestyles of consumers have led to an increase in demand for ready-to-eat meals. Rapid changes in supporting factors such as disposable income, consumer preferences, an increase in the working women population, and digitization have resulted in a rise in the number of quick-service, pop-up & shop, and other types of restaurants.

Moreover, changes in trends in food consumption and the growing need to reduce food waste have led to the development of innovative kitchen equipment. These factors are anticipated to drive food service equipment market growth during the food service equipment forecast period.

Furthermore, continuous developments in cooling technologies and favorable government regulations to promote the production of eco-friendly refrigerators & ovens are expected to open new avenues for food service equipment manufacturers. However, higher installation costs are anticipated to restrain their adoption, particularly in developing regions. In addition, the rise in demand for visually appealing food service equipment among restaurants and hotels fuels the growth of the food service equipment market.

Additionally, new equipment featuring brighter colors, sleek designs, and shiny touch screens are some of the food service equipment market trends. Another trend in food service equipment is multi-functional equipment. Due to space constraints, many restaurateurs tend to utilize equipment that could provide multiple functions and save kitchen space.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐃𝐚𝐭𝐚 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 @ https://www.alliedmarketresearch.com/purchase-enquiry/1597

Moreover, food service equipment like rapid-cooker ovens that feature several cooking methods for preparing a variety of foods is in trend. For example, the double batch ventless impingement oven from TurboChef consists of two independently controlled high-speed ovens with oscillating racks, which reduces cooking time and facilitates the preparation of more food. Moreover, each oven can be controlled with a split-screen, Wi-Fi-connected touch controller. Thus, this IOT multi-functional equipment is popular in the food service industry.

Furthermore, the demand for food service equipment such as automated cooking & beverage systems, touchless pick-up & delivery equipment, cloud-based IoT solutions, and other equipment addressing the evolving foodservice environment is increasing significantly, which, in turn, is anticipated to drive the growth of the market.

The global food service equipment market segments are categorized into product type, end use, and region. By product type, it is classified into cooking equipment, storage & handling equipment, ware washing equipment, and serving equipment. By end use, it is divided into full-service restaurants and hotels, quick-service restaurants, and catering. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and the rest of Europe), Asia-Pacific (China, India, Australia, Japan, and the rest of Asia-Pacific), and LAMEA (Brazil, UAE, South Africa, and the rest of LAMEA).

Key findings of the study

By product type, the cooking equipment segment accounted for the highest food service equipment market share in 2019, growing at a CAGR of 5.3% from 2021 to 2027.

By end use, the full-service restaurants and hotels segment occupied the maximum share of the market in 2019 and is expected to dominate the market during the forecast period.

Region-wise, North America accounted for the highest share in 2019 and is expected to grow at a CAGR of 4.0% during the forecast period.

𝐆𝐞𝐭 𝐘𝐨𝐮𝐫 𝐑𝐞𝐩𝐨𝐫𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 @ https://www.alliedmarketresearch.com/request-for-customization/1597

The key players operating in the global food service equipment market focus on prominent strategies including product launch, collaboration, acquisition, business expansion, and partnership to overcome competition and maintain as well as improve their share worldwide. Some of the major players in the global food service equipment industry analyzed in this report include Duke Manufacturing Co., Inc., Electrolux, Dover Corporation, Illinois Tool Works (ITW), Inc., Ali Group S.r.l., Socio Unico, Welbilt, Inc., Middleby Corporation, Alto-Shaam, Inc., Comstock-Castle Stove Co., Inc., and Cambro Manufacturing Co., Inc.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view of providing business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domain.

We have professional corporate relations with various companies and this helps us dig out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high-quality of data and help clients in every way possible to achieve success. Each and every piece of data presented in the reports published by us is extracted through primary interviews with top officials from leading companies in domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Allied Market Research
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