Fraud Detection & Prevention Mark Skim Market Food Service MetEquipment Market Market 256 Pages Report
Global Opportunity Opportunity Analysis Global Opportunity Opportunity Analysis Global Opportunity Global Opportunity Global Opportunity Global Opportunity Global & Opportunity Analysis Industry and Industry Forecast, Analysis and Industry and Industry Forecast, Analysis and Industry Analysis Analysis and and Industry Industry Analysis and Industry Forecast, 2014-2022 2014 - 2022 Forecast, 2014-2022 Forecast 2025 2014-2022 Forecast 2030 Forecast, 2014-2022 Forecast, 2014 - 2022 Forecast, 2017-2023
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Food Service Equipment Market “Development of the hospitality industry is anticipated to drive the food service equipment market. In addition, rise in business-related travel, increase in urban population, and rise in number of food joints such as hotels & restaurants fuel the growth of hospitality industry, thereby driving the growth of the food service equipment market.�
Shankar Bhandalkar Sr. Research Analyst, Foods & Beverages at AMR
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Food Service Equipment Market
According to a new report published by Allied Market Research, titled, Food Service Equipment Market by Product and End Use: Global Opportunity Analysis and Industry Forecast, 2018-2025 the global food service equipment market was valued at $31,088 million in 2017, and is projected to reach $50,039 million by 2025, registering a CAGR of 6.4% from 2018 to 2025. In 2017, the storage & handling equipment segment accounted for approximately two-sevenths share in the food service equipment market, and is projected to grow at the highest CAGR of 7.5%. Food service equipment provides ease in food preparation in addition to food safety in commercial kitchens. Such equipment are needed to prepare, cook, and store food items. Products such as refrigerators & freezers, display cabinets, cutlery, and bakery oven are offered by prime companies, ensuring premium quality and low maintenance cost. The food service equipment market is segmented based on product and end use.
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Food Service Equipment Market
Change in food habits and busy lifestyle of consumers have led to increase in demand for ready-to-eat meals. Rapid changes in the supporting factors such as disposable income, consumer preferences, increase in working women population, and digitization have resulted in rise in number of quick-service, pop & shop, and other types of restaurants. Moreover, changes in trends of food consumption and growth in need to reduce food wastage have led to the development of innovative kitchen equipment. These factors are anticipated to drive the growth of food service equipment market during the forecast period. Furthermore, continuous developments in cooling technologies and favorable government regulations to promote the production of eco-friendly refrigerators & ovens are expected to open new avenues for the food service equipment manufacturers. Download Request Sample: https://www.alliedmarketresearch.com/request-sample/1597
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Food Service Equipment Market
However, higher installation cost of equipment is anticipated to act as a restraining factor for their adoption, particularly in the developing regions. Based on product, the market is segmented into cooking equipment, storage & handling equipment, warewashing equipment, and serving equipment. Cooking equipment generated the highest revenue in 2017, and is expected to dominate the market in the near future. Based on end use, the market is segregated into full-service restaurants & hotels, quick-service restaurants, and catering. Full-service restaurant & hotels held the maximum share in 2017, owing to the fact that they ensure premium quality food with high hygienic ambience and fuller table services. In addition, high disposable income results in increased dining out with entertainment options. These factors drive the growth of full-service restaurants & hotels.
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Food Service Equipment Market
Major Companies: Alto-Shaam Inc. Cambro Manufacturing Co. Inc. Castle Stove Duke Manufacturing Co. Inc. Dover Corporation Electrolux Illinois Tool Works Inc. Ali S.p.A Middleby Corporation Welbilt Inc.
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Food Service Equipment Market
Key Findings of the Food Service Equipment Market: In 2017, North America accounted for the highest market share growing at a CAGR of 4.7% from 2018 to 2025. In 2017, cooking equipment accounted for the highest market share, and is expected to growth at the highest CAGR of 6.0%. Quick-service restaurants & pubs is projected to grow at the highest CAGR of 8.5%. In 2017, the U.S. accounted for the highest market share, and is anticipated to grow at a CAGR of 4.8%. Asia-Pacific is anticipated to grow at the highest CAGR of 8.4% from 2018 to 2025.
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Food Service Equipment Market
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