Global Food Service Equipment Market: Increasing Number of Restaurants, Hotels, and Food Joints Noti
Added: (Wed Feb 07 2018)
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According to the latest report published by Variant Market Research, the global food service equipment market size is projected to reach $63 billion by 2024 from $41 billion in 2016. In this report, food service equipment market forecast says that the global market is growing at 5.6% CAGR from 2017 to 2025.
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Growing awareness of energy consumption to drive the global market
The global food service equipment market trend includes increasing digitalization & development of innovative products with internet connectivity, increasing restaurants, hotels, food joints, and growing awareness of energy consumption. Though, high cost may hinder the food service equipment market growth. Moreover, untapped markets in developing economies would provide an opportunity for players of food service equipment industry.
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The global food service equipment market is classified into type, washware equipment, and geography. Type segment includes kitchen purpose, ware washing, storage, food holding & serving refrigerator, and other types. Further, the market is classified on basis of washware equipment into booster heaters, utensil washer, dish washers, disposers, and other washware equipments. North America (United States, Mexico, and Canada), Europe (Germany, Russia, UK, and Rest of Europe), Asia-Pacific (Japan, China, India, and Rest of Asia-Pacific) and RoW (Middle East, South America, and Africa) are the key geographical regions included in this market.
kitchen purposes, by type dominated the global market in 2017
kitchen purposes held for the highest market share in 2017, and expected to continue its dominance over the forecast period, 2017– 2025. The growth is attributed to growing need for modern kitchen facilities and inclination towards modular kitchen.
dish washers, by washware equipment dominated the global market in 2017
dish washers held for the highest market share in 2017, and expected to continue its dominance over the forecast period, 2017– 2025. Growing demand for automatic dishwashers in hotels and food chains is the driving factor for the growth of segment.
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Asia-Pacific is estimated to witness fastest CAGR from 2017 to 2025
Asia-Pacific is predicted to grow at a fastest CAGR of over the forecast period 2017 to 2025. The growth is attributed to to rapidly growing urbanization and rising trend for consumption of ready to eat as well as processed food in the region (including Philippines, Nepal, among others).
Key players are offering innovative products and services to increase their food service equipment market share. Major players of the market are Tupperware Brands Corporation, Welbilt Inc., Dover Corporation, Ali S.p.A, Middleby Corporation, Hoshizaki Electric Co. Ltd., Libbey Inc., Ali Group and Cambro Manufacturing Company, Inc., among others.
Scope of Food Service Equipment Market
• Kitchen Purpose
• Ware Washing
• Food Holding & Serving
Washware Equipment Segments
• Booster Heaters
• Dish Washers
• Utensil Washer
• North America
o United Kingdom
o South America
o Middle East
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About Variant Market Research
Variant Market Research offers syndicated and customized reports to fulfill clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.
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