Dublin, April 04, 2024 (GLOBE NEWSWIRE) -- The "Food Service Equipment - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Food Service Equipment Market to Reach $49.2 Billion by 2030
The global market for Food Service Equipment estimated at US$32 Billion in the year 2023, is projected to reach a revised size of US$49.2 Billion by 2030, growing at a CAGR of 5.5% over the analysis period 2023-2030.
The report provides an overview and outlook of the Food Service Equipment market, detailing its segmentation by product segment and end-use. It highlights the rapid growth expected in Quick Service Restaurants & Pubs as an end-use segment.
Cooking Equipment, one of the segments analyzed in the report, is projected to record 5.7% CAGR and reach US$15.9 Billion by the end of the analysis period. Growth in the Storage & Handling Equipment segment is estimated at 6.1% CAGR for the next 8-year period.
The U.S. Market is Estimated at $9.6 Billion, While China is Forecast to Grow at 7.3% CAGR
Regional analysis reveals the United States as the largest region in the market, with developed and developing regions accounting for significant revenues. The report ranks geographic regions by Compound Annual Growth Rate (CAGR) from 2020 to 2027, with China leading the growth trajectory. Additionally, the competitive scenario, recent market activity, advancements by innovators, and key global brands are discussed, along with the global key competitors' percentage market share in 2023 and their respective market presence categories.
The Food Service Equipment market in the U.S. is estimated at US$9.6 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$8.4 Billion by the year 2030 trailing a CAGR of 7.3% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.9% and 4.9% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 4.3% CAGR.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 395 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $32 Billion |
| Forecasted Market Value (USD) by 2030 | $49.2 Billion |
| Compound Annual Growth Rate | 6.3% |
| Regions Covered | Global |
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Food Service Equipment: An Overview and Outlook
- World Food Service Equipment Market by Product Segment (2020 & 2027): Percentage Breakdown of Revenues for Cooking Equipment, Storage & Handling Equipment, Warewashing Equipment, Food & Beverage Preparation Equipment, and Other Products
- Analysis by End-Use: Quick Service Restaurants & Pubs to Exhibit Fastest Growth
- World Food Service Equipment Market by End-Use (2020 & 2027): Percentage Breakdown of Revenues for Full-Service Restaurants & Hotels, Quick-Service Restaurants & Pubs, and Other End-Uses
- Regional Analysis: United States Represents the Largest Region
- World Food Service Equipment Market by Region (2020 & 2027): Percentage Breakdown of Revenues for Developed and Developing Regions
- World Food Service Equipment Market - Geographic Regions Ranked by CAGR (Revenues) for 2020-2027: China, Asia-Pacific, Latin America, Middle East, Africa, USA, Canada, Europe, and Japan
- Competitive Scenario
- Recent Market Activity
- Select Advancements by Innovators
- Select Global Brands
- Food Service Equipment - Global Key Competitors Percentage Market Share in 2023 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
MARKET TRENDS & DRIVERS
- Foodservice Industry Trends with Potential Influence on Equipment Market
- Compact & Customizable Equipment in Demand
- Energy Efficiency & Sustainability Become More Relevant
- Equipment with Training Features
- Emergence of Single-Service Coffee Brewers & Display Cases
- Innovative Touchless Options
- Growth of Quick Service Restaurants Drives Demand
- Global Fast Food & Quick Service Restaurant Market Size (in US$ Billion) for 2019, 2022 & 2025
- Dynamics of Foodservice Outlets and Restaurants Augment Market Prospects
- Changing Food Habits and Trend towards Eat-Out Bodes Well
- World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
- Healthy Gains in Third Party Online Food Delivery Services & Mobile Apps Drive the Demand
- Global Online Food Delivery Services Market Size (in US$ Billion) for 2019, 2021, 2023 & 2025
- Global Online Food Delivery Market Breakdown by Platform-to-Consumer Delivery and Restaurant-to-Consumer Delivery for 2017 and 2020
- The Online Food Delivery Edge
- Smartphone Penetration & Internet Connectivity Fuel Online Food Delivery Services
- Management Systems for Food Safety Gain Traction
- Automated & Robotic Equipment to Foray into Food Service Sector
- IoT Seeks Role in Food Service Industry
- Kitchen Display Systems Come to the Fore
- Smart Ovens and Cook & Hold Ovens to Make Gains
- Common Problems Associated with Food Grade Equipment
FOCUS ON SELECT PLAYERS (Total 739 Featured)
- AB Electrolux
- Dover Corporation
- Duke Manufacturing Co.
- Fagor Industrial, S.Coop.
- Hubert Company, LLC
- Hoshizaki Corp.
- Kiremko BV
- Marel
- The Middleby Corporation
- Smeg S.p.A.
For more information about this report visit https://www.researchandmarkets.com/r/e99k5m
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