Global Food Service Equipment Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Food Service Equipment Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by Trusted Business Insights. The global food service equipment market report has been segmented on the basis of product, end user, and region. s

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Global Food Service Equipment Market: Overview

Food service equipment is majorly used for preparation, handling, processing, and storage of food products especially in full-service restaurants. Food service equipment is used across food service industries such as hotels, restaurants, and any commercial kitchens. It includes various types of products such as display cabinets, cutlery, refrigerators & freezers, bakery oven, etc.

Global Food Service Equipment Market: Dynamics

Rising demand for energy-efficient and ready-to-eat food products and increasing number of quick-service restaurants across various countries is a key factor expected to drive growth of the global market over the forecast period.

In addition, rapidly growing hotel industry coupled with increasing tourism across the globe is another factor expected to further fuel growth of the target market over the forecast period.

Moreover, increasing number of working women population, changing consumer preference towards digitization, and increasing disposable income are some factors expected to boost growth of the target market over the forecast period.

Furthermore, developing hospitality industry and increasing adoption of temperature-controlled storage equipment for processed foods which in turn is expected to increase demand for technologically advanced food service equipment.

However, high capital investment is a key factor expected to restrain growth of the global market over the forecast period.

Ongoing trend observed in the target market is changing individual’s food consumption habits and increasing need for controlling food wastage across the globe are some factors expected to support development of innovative kitchen appliances or equipment’s. This trend is expected to propel growth of the target market over the forecast period.

Increasing developments in cooling technologies and increasing government regulations in order to encourage the production of various eco-friendly products such as refrigerators, ovens, etc., are expected to crate lucrative opportunities for players operating in the target market over the forecast period.

Global Food Service Equipment Market: Segment Analysis

Among the product segments, cooking equipment segment is expected to register significant growth in terms of revenue over the forecast period, owing to rising consumer preference towards creative cooking and baking.

Among the end user segments, the full-service restaurants & hotels segment is expected to register significant growth in terms of revenue over the forecast period, owing to rising consumer inclination towards new cuisines at a reasonable cost and rising adoption of new food service equipment technologies in order to store, prepare, and serve foods.

Global Food Service Equipment Market: Regional Analysis

The market in North America is expected to dominate in the global market and is expected to continue its dominance over the forecast period, owing to early adoption of technologically advanced products, increasing demand for fast food, and rising working population across various countries in this region.

The market in Asia Pacific is expected to register significant growth in terms of revenue over the forecast period, owing to rapidly growing hotel and food industry coupled with increasing number of hotels and restaurants and rising number of nuclear families across various countries in this region over the forecast period.

Global Food Service Equipment Market Segmentation:

Segmentation by product:

Cooking Equipment
Storage & Handling Equipment
Warewashing Equipment
Food & Beverage Preparation Equipment
Serving Equipment

Segmentation by end user:

Full-service Restaurants & Hotels
Quick-service Restaurants & Pubs
Caterings
Others (Hotels & Clubs, Supermarkets and Chain Stores)