Food Service Equipment Market Size To Hold USD 76.1 Bn By 2030

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Table of Content

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 Highlights

• A growing number of food tour firms have sprung up as a result of food tourism, a recent worldwide trend that is particularly popular among millennials. For safe food handling and hygiene, this rise will continue to drive up demand for professional food service equipment.
• Food service technology that is automatic, wireless, and aesthetically pleasing, fits in smaller floor spaces, and complies with regulations imposed by regulatory agencies like the NSF, will become increasingly important.
• In the near future, equipment with multipurpose capabilities will significantly outweigh conventional ones.
• Restaurants and hotels are modernising and replacing outdated food service equipment with useful digital touch control food service equipment in an effort to outperform the competition and boost efficiency.
• By ceasing to use natural resources, major businesses are concentrating on developing new machinery with energy-saving characteristics, resulting in faster cooking and manufacturing.
• Due to the increasing need for upgrades, replacements, aftermarket parts, and services, particularly in the US, North America is expected to be a significant regional market for food service equipment.

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

• Alto-Shaam released the most recent model of its Vector® F Series of Multi-Cook Ovens in September 2020. It has a cutting-edge user-friendly interface, an innovative design, and the ability to stack with a Combitherm® oven to provide the greatest benefit from a single, vertical cooking area. The unique Vector F model is especially designed for foodservice operations where large-volume and consistently high-quality meals are required. It is capable of producing a phenomenally wide variety of food at an exceptionally high level.
• Alto-Shaam unveiled a gas-powered variant of its lauded Vector F Series Multi-Cook Ovens in November 2021. The full-size Vector F models are especially designed for foodservice operations where a great volume of consistently high-quality food is required. They are capable of cooking a wide variety of dishes to an exceptionally high level.

Major Key Players

• Alto-Shaam, Inc.
• Cambro Manufacturing Co. Inc.
• Castle Stove
• Duke Manufacturing Co. Inc.
• Dover Corporation
• Electrolux Professional
• Illinois Tool Works Inc.
• Ali Group
• Middleby Corporation
• Welbilt, Inc.

Market Segmentation

By Product

• Kitchen Purpose Equipment
  • Cooking Equipment
  • Food & Beverage Preparation Equipment
• Refrigeration Equipment
• Ware Washing Equipment
• Food Holding & Storing Equipment
• Others

By End Use

• Full-service Restaurants & Hotels
• Quick-service Restaurants & Pubs
• Catering
• Others

By Distribution Channel

• Online
• Offline 

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