Food Service Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020
LONDON, June 11, 2015 /PRNEWSWIRE/ -- Food service equipment play a vital role in preparing, serving and storage of food in hotels, restaurants, fast food joints, hospitals, nursing homes and educational institutes among others. The global food service equipment market is expected to witness substantial growth during the forecast period. This is due to the increasing number of hotels, restaurants, fast food joints, hospitals and nursing homes among others. The increase in demand can also be attributed to the rules and regulations set by the food regulatory bodies. These factors are expected to spur the market throughout the forecast period. The global food service equipment market has been segmented by product types, washware equipment and by geography.
Based on the product type, the market is segmented into six types: kitchen purposes, refrigeration, storage, warewashing, food holding & serving and others. Due to advancements in technology, the different food service equipment help prepare food more effectively and efficiently. These equipment help meet the hygiene and sanitation standards set by different food regulatory bodies. The modern food service equipment is not only eco-friendly and efficient but also help reduce expenses, which is helping boost their demand globally.
Based on washware equipment, the market is segmented into five types: booster heater, dishwasher, disposers, utensil washers and others. They form an integral part of the kitchen as they are required for washing the equipment and maintaining sanitation standards. Different washware equipment are used depending on the type of dishes and utensils.
By geography, the market has been segmented into North America, Europe, Asia Pacific, and RoW. The present market size and forecast until 2020 have been provided in the report along with the detailed analysis and opportunities in these regions.
North America held the largest share in the global food service equipment market in 2013. Growing demand for hygienic, nature friendly and cost effective devices are the major factors spurring growth of food service equipment in the region. North America is expected to maintain its leading position throughout the forecast period. Following North America, Europe was the second largest regional market for the food service equipment in 2013. Both Asia Pacific and RoW are expected to witness robust growth for food service equipment in different application sectors such as hotels, food processing and food service, healthcare and educational institutes among others.
The study includes food service equipment market in terms of revenue (USD Billion) by product type, washware equipment and geography. To have a full competitive advantage, the study also provides drivers, restraints and opportunities and their impact followed by three parameters such as low, medium and high for the short, medium and long term.
The study also provides market attractiveness analysis by end users. In order to ascertain market dynamics, Porter's five force analysis framework which identifies as well as analyzes five competitive forces that shape every industry, such as bargaining power of suppliers and buyers followed by the threat of substitutes and new entrant's and degree of competition is also provided.
This report has been segmented by product type, washware equipment and geography. The study also includes the drivers, restraints, and opportunities (DROs), and value chain of the food service equipment market. In addition, the forecast from 2014 to 2020 has been covered with current and future trends that are expected to impact demand.
The report also analyzes macro economic factors influencing and inhibiting the growth of the market. Porter's five forces analysis offers insights on market competition throughout its value chain. In addition, the market attractiveness analysis provided in the report highlights key investing areas in this industry. The report will help manufacturers, suppliers, and distributors to understand the present and future trends in this market and formulate their strategies accordingly.
The global food service equipment market is segmented as below:
By product type
Kitchen purposes
Refrigeration
Storage
Warewashing
Food holding & serving
Others
By washware equipment
Booster heater
Dishwasher
Disposers
Utensil washer
Others
By geography
North America
Europe
Asia Pacific
Rest of the World (RoW)
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