The global food service equipment market size was evaluated at USD 47.61 billion in 2022 and it is projected to hold around USD 76.1 billion by 2030, growing at a CAGR of 6.04% from 2022 to 2030.
the establishment and storage of food items for commercial use, food service equipment is used. This equipment includes cooking equipment, catering equipment, storage and handling equipment, equipment for cleaning dishes, equipment for preparing food and beverages, and equipment for serving. The appliances seen in a restaurant kitchen are significantly different from those seen in private residences.
It is necessary to purchase commercial-grade stoves, fryers, mixers, blenders, steamers, slicers, dishwashers, coffee makers, beverage dispensers, and other kitchen appliances for a restaurant. Equipment for commercial kitchens is needed to produce meals for a big number of customers. It must be robust, long-lasting, and simple to use.
The machinery must use less power, increase the efficiency of food manufacturing processes, and be environmentally benign. Catering services are defined as those that provide meal services. Another service that provides a welcome variation from home-cooked cuisine is catering. People like to eat, snack, or drink anything that has been prepared and delivered in a unique and enjoyable setting.
A component of the catering industry is providing plates, glasses, and silverware for visitors. From large supermarket managing inventory to cafe serving trolleys to workplace water cooler bag trucks and everything in between, such as sandwich trolleys and water bottle sack trucks for six bottles, foodservice handling equipment is available for use in a variety of settings. The market for food service equipment is expected to be driven by changes in food consumption habits, a rise in takeout orders, and a large hotel industry that uses kitchen equipment.
Food Service Equipment Market Report Scope
| Report Coverage | Details |
| Market Size in 2023 | USD 50.49 Billion |
| Market Size in 2030 | USD 76.1 Billion |
| Growth Rate | CAGR of 6.04% |
| Service Segment Revenue Share In 2021 | 42.00% |
| Largest Market | Asia Pacific |
| Base Year | 2022 |
| Forecast Period | 2022 To 2030 |
| Segments Covered | By Product, By End Use and By Distribution Channel |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America and Middle East & Africa |
Report Highlights
Regional Snapshots
During the projected period of 2021–2027, Asia Pacific will continue to dominate the global market for food service equipment. In 2020, Asia Pacific accounted for 35.0% of the worldwide market for food service equipment, which was the biggest proportion. The increase in tourism, notably in Singapore, Malaysia, Indonesia, and Australia, as well as the quick modernization of eating customs, have driven the regional need for food service equipment.
The restaurant's menu has grown to include a range of cuisines as more customers explore new foods and develop tastes for various types of food. Additionally, there may be a significant increase in this equipment due to the growing demand for processed commodities in the Asia-Pacific area.
Additionally, North America had the second-largest market share (21%) in the worldwide market for food service equipment in 2020. The US is regarded as the largest market for food service equipment because of the presence of well-known brands like McDonald's, Burger King Corporation, KFC Corporation, and Starbucks Coffee Company. Additionally, it is anticipated that government initiatives to support the nation's tourism and immigration sectors would strengthen the restaurant sector in the coming years, which might help the rate of equipment installation in the area.
Market Dynamics
Drivers
The market for commercial kitchen appliances is anticipated to grow quickly throughout the anticipated period. Some of the key aspects that may contribute to the fast food equipment growing market during in the food service equipment market research include expanding tourism, expansion in the hospitality industry, and the exponential development in the number of food service facilities throughout the world.
Examples of food service equipment include refrigerators, ovens, cooking tools, and culinary utensils used in commercial establishments. In restaurants, hotels, and clubs, food service equipment is used for cooking, cleaning, and storing. Customers are patronising restaurants more frequently as a consequence of shifting lifestyles, an increase in the working population, and a rise in the demand for eating out, which is driving up the market share and trends for food service equipment.
The need for rapid service restaurants, a rise in processed food consumption, the global expansion of the internet food service industry, and enhanced cooking equipment are the primary market drivers for food service equipment. The industry has also witnessed an increase in the demand for food products that can be stored without spoiling, which has led to a growth in the use of aseptic packaging and forming machinery. Tray forming, bottle capping, and form-fill-seal machines are just a few of the industries that have experienced rapid expansion.
The market is being driven ahead by a number of input variables, including the expanding hotel sector, shifting eating habits, and rising takeaway demand. In addition, the need for ecologically friendly and sustainable utensils, as well as stringent regulations controlling end-user safety and growing digitalization, are anticipated to soon provide the food service equipment market with attractive potential possibilities.
Restraints
Food safety is one of the most important challenges facing the food service sector. This is quite alarming since any form of abuse, infection, or food-borne illness is guaranteed to be a major Public Relations (PR) disaster. The crucial obligation of the food sector to customers in terms of public security and health. Food security specialists should be ready to respond to current consumer food trends that are fast becoming popular (due in part to the Internet and social media).
These trends have turned into a fertile ground for concerns related to food safety. In order to effectively guide food entrepreneurs in implementing safety policies and protecting their brands, consultants must always be alert for emerging food trends. In order to foresee the need to review and update the food code in order to ensure public health and security, those in charge of regulating must keep a close eye on food fads, trends, and changes in consumer behaviour. Thus, the expansion of the market for food service equipment is being constrained by concerns about food safety.
Opportunities
Consumer adoption of energy-efficient appliances is made easier by rising consumer awareness of energy use and environmentally friendly activities, which benefits this industry. Global standards for energy usage place a strong emphasis on lowering Green House Gas (GHG) emissions in order to lessen the growing effects of climate change. End users increasingly favour appliances with the ENERGY STAR label, which denotes the equipment's high energy efficiency and lowers operating and maintenance expenses in cafés, restaurants, and institutional kitchens.
According to data released in 2018 by the Energy Star programme of the United States Environmental Protection Agency (EPA), end-user operators may save $5,300, or around 340 MMBTU, annually by using food service equipment marked with the ENERGY STAR designation. Due to the incorporation of technologies like machine learning and artificial intelligence (AI) in food service equipment to create smart equipment that can reduce labour and food waste and optimise kitchen storage, the food service equipment industry is anticipated to experience robust growth during the forecast period.
Additionally, it is predicted that widespread IoT applications in fryers that can replace their own oil and ventilation systems that monitor fire dangers would support market expansion. Furthermore, it is projected that the market would see development due to the adoption of the newest technology in refrigerators and ovens.
The market is also expected to benefit from the emerging technology improvements that are predicted to be integrated with different kitchen appliances, such as dishwashers. Therefore, it is projected that the use of technology in food service equipment would propel industry expansion in the years to come.
Key Market Developments
Major Key Players
Market Segmentation
By Product
By End Use
By Distribution Channel
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