What is Global Food Service Equipment Market?
The Global Food Service Equipment Market is a vast and dynamic sector that encompasses a wide range of products and services. These are primarily used in the food and beverage industry to prepare, cook, store, and serve food and drinks. The market is driven by the increasing demand for fast food and take-out services, coupled with the growing trend of dining out. The equipment used in this market includes cooking appliances, refrigeration units, dishwashers, cutlery, and other related items. These are essential tools in the food service industry, enabling businesses to operate efficiently and provide high-quality service to their customers. The market's value was estimated at US$ 47160 million in 2022, and it is projected to reach US$ 62840 million by 2029, growing at a Compound Annual Growth Rate (CAGR) of 4.9% from 2023 to 2029.
Food & Drink Preparation Equipment, Cooking Equipment, Heating and Holding Equipment, Storage & Handling Equipment, Warewashing Equipment, Others in the Global Food Service Equipment Market:
The Global Food Service Equipment Market is segmented into various categories based on the type of equipment. These include Food & Drink Preparation Equipment, Cooking Equipment, Heating and Holding Equipment, Storage & Handling Equipment, Warewashing Equipment, and others. Each of these categories plays a crucial role in the food service industry. Food & Drink Preparation Equipment is used to prepare food and beverages before cooking. This includes mixers, blenders, slicers, and other similar appliances. Cooking Equipment, on the other hand, is used to cook the food. This includes ovens, stoves, grills, and other cooking appliances. Heating and Holding Equipment is used to keep the food warm and ready to serve. This includes food warmers, hot food displays, and other similar appliances. Storage & Handling Equipment is used to store and handle food and beverages. This includes refrigerators, freezers, and other storage appliances. Warewashing Equipment is used to clean and sanitize dishes, utensils, and other kitchenware. This includes dishwashers, glass washers, and other cleaning appliances. The other category includes various other types of equipment used in the food service industry.
Household, Commercial, Institutional in the Global Food Service Equipment Market:
The Global Food Service Equipment Market caters to various sectors, including Household, Commercial, and Institutional. In the Household sector, the equipment is used to prepare, cook, store, and serve food and beverages at home. This includes kitchen appliances like ovens, stoves, refrigerators, dishwashers, and other similar appliances. In the Commercial sector, the equipment is used in restaurants, cafes, bakeries, and other food service businesses. This includes commercial-grade cooking appliances, refrigeration units, dishwashers, and other similar appliances. In the Institutional sector, the equipment is used in schools, hospitals, prisons, and other institutions. This includes large-scale cooking appliances, refrigeration units, dishwashers, and other similar appliances. Each of these sectors has unique needs and requirements, and the Global Food Service Equipment Market caters to these through a wide range of products and services.
Global Food Service Equipment Market Outlook:
The Global Food Service Equipment Market is a rapidly growing sector, with a promising future. The market was valued at US$ 47160 million in 2022, and it is expected to reach US$ 62840 million by 2029, growing at a CAGR of 4.9% during the forecast period 2023-2029. This growth is driven by the increasing demand for fast food and take-out services, coupled with the growing trend of dining out. The market is dominated by a few key players, including Haier, Electrolux, Illinois Tool Works, and Hoshizaki Corporation, which collectively hold about 58% of the global market share. These companies have a strong presence in the market, offering a wide range of products and services to cater to the diverse needs of the food service industry.
| Report Metric | Details |
| Report Name | Food Service Equipment Market |
| Accounted market size in 2022 | US$ 47160 in million |
| Forecasted market size in 2029 | US$ 62840 million |
| CAGR | 4.9% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| By Region |
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| By Company | Haier, AB Electrolux, Illinois Tool Works, Hoshizaki Corporation, Ali S.p.A, Welbilt, Dover Corporation, Middleby Corporation, Rational AG, Standex International Corporation, Fujimak Corporation, The Vollrath Company, Duke Manufacturing, Alto-Shaam, Boelter |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
