The global food service equipment market size was worth around USD 35.59 billion in 2023 and is predicted to grow to around USD 65.43 billion by 2032 with a compound annual growth rate (CAGR) of roughly 7% between 2024 and 2032.
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Market overview of food service equipment
For many business reasons, food service equipment handles or processes food, from refrigeration to roasting and from peeling to grinding. Restaurants, hotels, and other commercial kitchens make most use of the machinery in the food service sector. Manufacturers, service providers, distributors, etc. make up the varied spectrum of players in the Europe food service equipment market. While considering the several products the equipment surface would come into touch with, the equipment producers want to keep the quality of their products. Good mechanical strength, simple assembling, and corrosion-resistant materials define some of the main features of food service equipment. Food service equipment has also developed to include automated tools in line with digitalisation.
Modern equipment on the market features automatic temperature controllers and remote access, which enable producers to vary their products and meet a wide spectrum of needs for certain end-users. These characteristics also help to lower the running cost of the equipment now in use.
The expansion in the hotel sector leading to the increasing number of hotels and restaurants worldwide is probably going to cause the food service equipment market to rise mostly throughout the projected period.
Furthermore expected to be driving the expansion of the food service equipment market over the forecast time period are the rising need for chilled food products, changing lifestyles of people, growing import-export of many foods and drinks, and changing food consumption habits. On the other hand, hefty capital expenditures and increasing demand for a qualified personnel to run the machinery can limit the Europe food service equipment market in the next years.
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The Global Food Service Equipment Market is segmented based on product, application and region
Global Food Service Equipment Market: Product Segment Analysis
● Kitchen Purposes
● Refrigeration
● Storage
● Ware Washing
● Food Holding and Serving
● Others
Global Food Service Equipment Market: Application Segment Analysis
● Full-Service Restaurants and Hotels
● Quick-Service Restaurants and Pubs
● Caterings
● Supermarkets and Chain Stores
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The Global Food Service Equipment market profiles key players such as:
● Electrolux
● Libbey Inc.
● Tupperware Brands Corporation
● Duke Manufacturing Co. Inc.
● Cambro Manufacturing Company Inc.
● Hoshizaki Electric Co. Ltd.
● Dover Corporation
● Rational AG
● Manitowoc Foodservice Inc.
● Middleby Corporation
● Ali Group
● Coreco
● Liebherr
● Infrico
Market Analysis of Food Service Equipment Regional Development
France, UK, Germany, Poland, Russia, Spain, Italy, and Rest of Europe constitute the country-wise component of this market. France dominates the Europe food service equipment market mostly. Having the largest market share in 2023, France is likely to keep its supremacy in the next years as well. This expansion can be ascribed to the abundance of fast food behemoths including Subway, McDonald’s, Burger King, and KFC as well as different kinds of restaurants all throughout the nation.
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