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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Food Service Equipment Market Size
The global food service equipment market reached USD 35.90 billion in 2023. The market is expected to grow at a CAGR of 5.7% between 2024 and 2032, reaching almost USD 59.13 million by 2032.
Key Takeaways:
- The National Restaurant Association forecasts the US food service sector to reach $1 trillion in sales by 2024, leading to increased global food service equipment market growth.
- Eurostat's 2020 report stated that 2,91,000 EU businesses processed food, employing 4.6 million, adding €227 billion, enhancing the global food service equipment market.
- Food service equipment includes diverse tools for storing, cooking, and serving food in commercial settings, including tableware and essential appliances.
Food service equipment encompasses a wide array of tools and machinery utilized for storing, preparing, and serving food in commercial establishments. This includes tableware like plates, cups, bowls, and cutlery, essential for presenting dishes. Additionally, it consists of various appliances such as microwaves, fryers, stoves, ovens, mixers, blenders, and steamers, each crucial for cooking at precise temperatures.
Cleaning setups such as dishwashers and garbage disposal units are also part of this equipment, ensuring cleanliness and waste management. Moreover, large storage units with efficient temperature controls help store perishable items, while maintaining proper airflow and cleanliness in the kitchen.
According to the National Restaurant Association in the USA, the food service industry is forecasted to reach $1 trillion in sales by 2024. Restaurants are actively hiring, with an expected rise of 200,000 jobs, increasing total industry employment to 15.7 million by the end of 2024. 45% of operators are looking to hire more staff to meet customer needs, thus contributing to the global food service equipment market growth.
Food Service Equipment Market Report Snapshots
Food Service Equipment Market Size
Food Service Equipment Market Trends
Food Service Equipment Market Regional Analysis
Food Service Equipment Companies
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market was valued at USD 35.90 billion in 2023.
The market is projected to grow at a CAGR of 5.7% between 2024 and 2032.
The revenue generated from the food service equipment market is expected to reach USD 59.13 billion in 2032.
The food service equipment market grows with energy-efficient electronics, the food and beverage sector, technological advancements, and time-saving features.
The food service equipment market is categorised according to its product, which includes cooking equipment, storage, and handling equipment, warewashing equipment, food and beverage preparation equipment and serving equipment.
The major players in the market are Ali Group S.R.L, Alto-Shaam, Inc, Cambro Manufacturing, Duke Manufacturing, Comstock-Castle Stove Co. Inc., Falcon Food Service Equipment (AFE Group Ltd), Bartscher GmbH, Sammic S.L., Fagor Industrial, S.Coop, and Irinox S.p.A among others.
Based on the end use, the food service equipment market is divided into full-service restaurants and hotels, quick-service restaurants and pub and catering.
The major areas include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124