Global Foodservice Equipment Market to Record Robust Compound Annual Growth Rate Post-COVID-19

XploreMR Report examines, global foodservice equipment market for the forecast period 2016–2024. The prime purpose of the report is to find opportunities and trends in the market and provide insights pertaining to segments of the global foodservice equipment market.

To understand the opportunities and trends in this market, the report is categorically divided into three sections namely on the basis of product type, end user, and region. The report analyzes global foodservice equipment in terms of value (US$) and volume (‘000 units).

Foodservice equipment (FSE) are equipment used for handling or processing food right from peeling to grinding, cooling to roasting, among others, for commercial purpose. Various types of foodservice equipment are used in foodservice industry such as food preparation equipment, drink preparations equipment, cooking equipment, heating and holding equipment, refrigerators and chillers.

Global foodservice equipment market is anticipated to witness significant revenue       growth over the forecast period. Rapid changes in lifestyle has led to shift in consumer preference from full service restaurants to quick service restaurants. As a result, domestic and international companies are making major investments in quick service restaurants. Sales of food service equipment is expected to increase at a rapid pace owing to high expenditure on food and related items. However, high cost price of food service equipment is a prime challenge for foodservice operators, as these account for major share of total capital cost for new food service outlets. Foodservice equipment need to be tailored according to requirements and available space in food retail stores. This in turn, significantly increases costs associated with foodservice equipment.

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Report starts with market overview and provides market definition and analysis about drivers, restraints, and key trends. The section that follows includes analysis of global foodservice equipment market by product type, end use, and region. The three sections evaluate the global foodservice equipment market on the basis of various factors covering present scenario and future prospectus. The report also provides region-wise data of local and international companies, new install base of FSE equipment.

The global foodservice equipment market is segmented as follows:

• By Product Type
• By End User
• By Region

   On the basis of product type the market is segmented into the following:

• Food Preparation Equipment
  • Slicers & Peelers
  • Mixers & Grinders
  • Food Blenders
  • Processors
  • Others
• Drink Preparation Equipment
  • Drink Blenders
  • Juicers
  • Ice Crushers
  • Others
• Cooking Equipment
  • Grills
  • Fryers
  • Ovens
  • Toasters
  • Others
• Heating & Holding Equipment
  • Warmers
  • Merchandisers
  • Sauce Dispensers
  • Others
• Refrigerators & Chillers
• Baking Equipment
• Merchandisers
• Dishwashers
• Other F&B Service Equipment

Cooking equipment accounts for one-third of total foodservice equipment market. However, food preparation equipment market is expected to expand at a CAGR of 6.1% over the forecast period.

On the basis of end user, the market is segmented as follows:

• Full Service Restaurants
• Quick Service Restaurants
• Caterers
• Hotels & Club Restaurants

Full service restaurants are expected to dominate foodservice equipment market over the forecast period. However, rapidly growing number of quick service restaurants are creating high growth opportunities for foodservice equipment market.

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Regions covered in the report are as follows:

• Asia Pacific
• North America
• Europe
• Latin America
• Middle East & Africa

Some of the key players included in this study on the global laboratory casework market are AB Electrolux, Ali S.p.A, Hobart Corporation, Manitowoc Foodservices Inc., Fujimak Corporation, Hoshizaki Electrical Co. Ltd, Rational AG, Dover Corporation, Tupperware Brands Corporation ,Duke Manufacturing Co. Inc., Libbey Inc., Vollrath Co., Midddleby Corporation, Cambro Manufacturing Co. Inc.,