Food Service Equipment Global Market is Projected to Reach $49.2 Billion by 2030: Growth of Quick Service Restaurants Drives Demand

DUBLIN, June 19, 2023 /PRNewswire/ -- The "Food Service Equipment: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global market for Food Service Equipment estimated at US$30.4 Billion in the year 2022, is projected to reach a revised size of US$49.2 Billion by 2030, growing at a CAGR of 6.2% over the analysis period 2022-2030.

Cooking Equipment, one of the segments analyzed in the report, is projected to record a 6.5% CAGR and reach US$15.9 Billion by the end of the analysis period.

Taking into account the ongoing post pandemic recovery, growth in the Storage & Handling Equipment segment is readjusted to a revised 6.9% CAGR for the next 8-year period.

The U.S. Market is Estimated at $9.1 Billion, While China is Forecast to Grow at 8.2% CAGR

The Food Service Equipment market in the U.S. is estimated at US$9.1 Billion in the year 2022. 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 8.2% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.4% and 5.6% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.8% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$6 Billion by the year 2030.

Select Competitors (Total 739 Featured) -

• Ali Group S.r.l.
• Alto-Shaam Inc.
• Cambro Manufacturing Co. Inc.
• Comstock-Castle Stove Co., Inc.
• Dover Corporation
• Duke Manufacturing Co.
• Electrolux Professional, Inc.
• Fujimak Corporation
• Hoshizaki Corporation
• Hubert Company, LLC
• Illinois Tool Works Inc.
• Middleby Corporation
• Smeg S.p.A.
• The Vollrath Company, LLC
• Welbilt Corporation

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Influencer Market Insights
• World Market Trajectories
• Impact of Covid-19 and a Looming Global Recession
• World Economic Growth Projections (Real GDP, Annual % Change) for 2019, 2020 & 2021
• Impact on Food Service Industry
• Food Service Industry Hit Hard by the COVID-19 Pandemic: YoY Change (in %) in Number of Daily Seated Diners at Restaurant due to Outbreak during February-July 2020
• Pandemic Brings About Massive Changes in Consumers' Dine Out Preferences
• Food Service Operators Adapting to Changing Consumers' Behaviors
• 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
• COVID-19 Affects Demand for Food Service Equipment
• 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 2022 (E)
• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

• Food service 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 Food service 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
• Global Market for Smartphones in Billions (2016-2021)
• Number of Internet Users (in Billion) and Internet Penetration Rate (in %) for the Years 2015 through 2019
• 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

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/u23o4i

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets