Global Food Service Equipment Market size is projected to be valued $63 Billion by 2024; with a CAGR of 5.5% from 2017 to 2025. People are now day becoming foodie and prefer clean, hygienic and nutritious food. The need for technologically advanced products, and Internet-enabled equipment is increasing amongst individuals. This has led to a great transformation in the food service equipment industry. The increasing traction for smart kitchen and connected equipment has fueled the demand for food service equipment.
Growing digitalization and development of advanced products with internet connectivity is expected to drive the food service equipment market. Moreover, increasing hotels, restaurants, food joints and increasing awareness of energy consumption is also expected to boost the growth of the market. However, high cost of equipment and high maintenance cost may hinder the growth of the market. Untapped markets in emerging economies could provide growth opportunities in upcoming years.
The food service equipment market is segmented based on the type, washware equipment and geography. By type is further segmented into kitchen purpose, refrigerator, storage, ware washing, food holding & serving and others. Furthermore, washware equipment is segmented into booster heaters, dish washers, disposers, utensil washer and others.
By geography the market is segmented into North America, Europe, Asia-Pacific and rest of the world (RoW). The U.S., Mexico and Canada are covered under North America wherein Europe covers United Kingdom, Germany, Russia and others. Asia-Pacific covers China, India, Japan, and others. Rest of the world (RoW) covers South America, Middle East and Africa.
Key market players include Hoshizaki Electric Co. Ltd., Libbey Inc., Tupperware Brands Corporation, Dover Corporation, Welbilt Inc., Ali S.p.A, Middleby Corporation, Ali Group and Cambro Manufacturing Company, Inc., among others.
The report covers
Scope of the Global Food Service Equipment Market
Washware Equipment Segments