Global Food Service Equipment Market – Industry Analysis and Forecast (2019-2026), By Product, End use, and Region.
One of the most popular trends in the food service industry nowadays is grab-and-go or takeaway food. Consumers are progressively preferring food service equipment to add suitability to manage with a fast-paced lifestyle. This alternative over conventional restaurants offers a higher and faster food convenience level.
Global Food Service Equipment Market was valued US$ 32.85 Bn in 2018 and is expected to reach US$ 52.87 Bn by 2026, at a CAGR of around 6.13 % during a forecast period.
One of the most popular trends in the food service industry nowadays is grab-and-go or takeaway food. Consumers are progressively preferring food service equipment to add suitability to manage with a fast-paced lifestyle. This alternative over conventional restaurants offers a higher and faster food convenience level. A rising trend of takeaway food among consumers in developed as well as developing countries is predicted to strengthen the food service equipment market in fast-casual restaurant settings.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis
Furthermore, free Wi-Fi, online food ordering facility, digital menu boards and tables, and many more technological additions are being incorporated in the food service equipment market. Serving the generation Z consumers is the new challenge for the food service equipment industry, using customized food service equipment is a rising trend in the food service equipment market. However, high capital investment is the major restraint that could hamper the growth of the market.
According to the end-user, Full service restaurant is projected to be the largest revenue generating segment over the forecast period. However, the market for the quick service is anticipated to expand at the highest CAGR of % from 2018 to 2026. In modern quick service restaurants, fast food is prepared with greatly processed methods in bulk with standardized cooking procedures. This factor is predicted to drive the demand for cooking equipment in fast food services.
Globally, North America accounted for the biggest share in 2016. Factors such as the wide adoption of technologically advanced products and high penetration of products have improved the growth in the region. It is followed by Asia-Pacific, which is anticipated to be the fastest growing region throughout the forecast period. The thriving tourism industry and huge dining out options for consumers are projected to propel the market growth in the region.
The report for global food service equipment market includes of wide primary research together with the detailed analysis of qualitative as well as quantitative aspects by several industry experts, main opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear image of current market scenario which contains historical and projected market size in terms of value, technological advancement, macro economical and governing factors in the market. The report delivers details information and strategies of the top key players in the industry. The report also gives a comprehensive study of the different market segments and regions.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global food service equipment market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in global food service equipment market.
Scope of Global Food Service Equipment Market
Global Food Service Equipment Market, By Product
• Cooking Equipment
• Storage & Handling Equipment
• Warewashing Equipment
• Food & Beverage Preparation Equipment
• Serving Equipment
Global Food Service Equipment Market, By End use
• Full-service Restaurants & Hotels
• Quick-service Restaurants & Pubs
Global Food Service Equipment Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating in Global Food Service Equipment Market
• Alto-Shaam, Inc.
• Cambro Manufacturing Co. Inc.
• Castle Stove
• Duke Manufacturing Co. Inc.
• Dover Corporation
• Illinois Tool Works Inc.
• Ali S.p.A
• Middleby Corporation
• Welbilt, Inc.
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