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Food Service Equipment Market: Current Analysis and Forecast (2021-2027)

Region:Global

Author(s):

Product Code:UMCG21260

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Published on

June 2021

Total pages

131

Table of Content

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About the Report

About the Report

EQUIPMENT SUCH AS COOKING, WASHING, STORAGE AND HANDLING EQUIPMENT ARE USED IN FOODSERVICE INDUSTRY FOR PREPARATION AND STORAGE OF FOOD PRODUCTS FOR COMMERCIAL PURPOSES. OWING TO THE SIGNIFICANT GROWTH IN THE HOSPITALITY INDUSTRY AND INCREASED USE TEMPERATURE-OPTIMIZED STORAGE EQUIPMENT FOR PERISHABLE FOOD HAVE INCREASED THE OVERALL DEMAND FOR FOODSERVICE EQUIPMENT WORLDWIDE. MOREOVER, THE INCREASING DEMAND FOR TIME EFFICIENT, AFFORDABLE, REDUCED LABOUR FOR FOOD PREPARATION IS PROVIDING AMPLE GROWTH OPPORTUNITY FOR THE FOOD SERVICE EQUIPMENT SUPPLIER. AS PER A TOP CONSULTING FIRM, THE US RESTAURANT AND FOOD SERVICE INDUSTRY WAS VALUED AT USD 899 BILLION IN 2019. THE INDUSTRY INCLUDES RESTAURANTS, CARRYOUT OPERATIONS, CAFETERIAS, UNIVERSITY DINING HALLS, CATERING AND VENDING COMPANIES, HOTELS AND INNS, AND REHAB AND RETIREMENT CENTRES.

RAPID URBANIZATION AND INCREASE IN THE DISPOSABLE INCOME HAVE BEEN BOOSTING THE FOODSERVICE EQUIPMENT INDUSTRY. FURTHERMORE, THE RISING AWARENESS REGARDING THE USE OF ECO-FRIENDLY, ENERGY EFFICIENT EQUIPMENT HAS BEEN ENCOURAGING THE FOODSERVICE INDUSTRIES FOR ADOPTION OF SMART AND EFFICIENT EQUIPMENT. TO ADD ON, TO ENHANCE THE CUSTOMER EXPERIENCE, MARKET PLAYERS ARE WORKING ON INCORPORATING ARTIFICIAL INTELLIGENCE IN FOODSERVICE EQUIPMENT. FOR INSTANCE, IN 2018, SAMSUNG LAUNCHED A REFRIGERATOR WITH IOT FEATURE ALONG WITH 21-INCH DISPLAY AND BIXBY VISION. HOWEVER, SOME OF THE RESTRAINTS IN THE MARKET INCLUDES THE LACK OF SKILLED LABOURS TO OPERATE THE AUTOMATED MACHINES. FURTHERMORE, HIGH COST OF INSTALLATION OF THE AUTOMATED MACHINES AND REQUIREMENT OF OTHER AUTOMATED SERVICES TO SET UP AND SERVICE CHARGES OF EQUIPMENT.

BASED ON EQUIPMENT TYPE, THE MARKET IS FRAGMENTED INTO COOKING & PREPARATION EQUIPMENT, REFRIGERATION EQUIPMENT, WARE WASHING EQUIPMENT, STORAGE & HANDLING EQUIPMENT, AND OTHERS. COOKING & PREPARATION SEGMENT GENERATED REVENUE OF USD XX MILLION IN 2020 DUE TO ITS SIGNIFICANT DEMAND IN ALL TYPES OF RESTAURANTS, HOTELS; ETC. OWING TO THIS THE MARKET IS EXPECTED TO GROW AT A CAGR OF XX% DURING THE FORECAST PERIOD TO REACH A MARKET VALUATION OF USD XX MILLION BY 2027F. HOWEVER, THE STORAGE AND HANDLING SEGMENT IS EXPECTED TO GROW AT A HIGHEST CAGR DURING THE FORECAST PERIOD OWING TO THE HIGH DEMAND OF STORAGE EQUIPMENT FOR PERISHABLE AND PROCESSED FOOD. BASED ON THE SALES CHANNEL, THE MARKET IS FRAGMENTED INTO ONLINE AND OFFLINE. THROUGH OFFLINE PURCHASE, END-USERS ARE BENEFITTED WITH OFFERS LIKE FREE SERVICING. OWING TO THIS OFFLINE SEGMENT GENERATED REVENUE OF USD XX MILLION IN 2020 AND IS EXPECTED TO DOMINATE THE MARKET IN THE FORECAST PERIOD.

BASED ON THE END-USERS, THE MARKET IS BIFURCATED INTO FULL-SERVICE RESTAURANT, QUICK SERVICE RESTAURANT, HOTELS & PUB BAR CLUBS, AND OTHERS. OWING TO THE INCREASING DEMAND OF READY TO EAT FOOD, GROWING TREND OF DINE OUT DURING TRAVEL TIME AND INCREASE IN ONLINE FOOD DELIVERY SYSTEM, THE FULL-SERVICE RESTAURANT IS EXPECTED TO GROW AT A CAGR OF XX% DURING THE FORECAST PERIOD TO REACH A MARKET VALUATION OF USD XX MILLION BY 2027F.

FOR A BETTER UNDERSTANDING OF THE MARKET FOR FOODSERVICE EQUIPMENT, THE REPORT PROVIDES A DETAILED ANALYSIS FOR MAJOR REGION INCLUDING NORTH AMERICA (US, CANADA, AND REST OF NORTH AMERICA), EUROPE (GERMANY, FRANCE, ITALY, SPAIN, UK, AND REST OF EUROPE), ASIA-PACIFIC (CHINA, JAPAN, INDIA, AUSTRALIA, AND REST OF APAC), AND REST OF WORLD. NORTH AMERICA CONSTITUTES A MAJOR MARKET FOR THE FOODSERVICE EQUIPMENT INDUSTRY AND GENERATED REVENUE OF USD XX MILLION IN 2020 OWING TO THE INCREASED ADOPTION OF THE TECHNOLOGICALLY ADVANCED EQUIPMENT IN THE FOOD SERVICE INDUSTRY. HOWEVER, THE ASIA PACIFIC REGION WOULD GROW AT THE HIGHEST CAGR DURING THE FORECAST PERIOD DUE TO CHANGE IN CONSUMER LIFESTYLES IN COUNTRIES LIKE CHINA & INDIA AND INCREASING FOODSERVICE CENTRE IN THESE COUNTRIES.

SOME OF THE MAJOR PLAYERS OPERATING IN THE MARKET INCLUDE WELBILT, THE MIDDLEBY CORPORATION, STANDEX INTERNATIONAL CORPORATION, ITW FOOD EQUIPMENT GROUP, DOVER CORPORATION, HAIER INC., AB ELECTROLUX, THE MANITOWOC COMPANY, INC., ALI GROUP S.R.L, DUKE MANUFACTURING, ETC. SEVERAL M&A'S ALONG WITH PARTNERSHIPS HAVE BEEN UNDERTAKEN BY THESE PLAYERS TO BOOST THEIR PRESENCE IN DIFFERENT REGIONS.

Products


Companies

WELBILT

THE MIDDLEBY CORPORATION

STANDEX INTERNATIONAL CORPORATION

ITW FOOD EQUIPMENT GROUP

DOVER CORPORATION

HAIER INC.

AB ELECTROLUX

THE MANITOWOC COMPANY

INC.

ALI GROUP S.R.L

AND DUKE MANUFACTURING

Table of Contents

Table of Contents

1 MARKET INTRODUCTION

1.1 MARKET DEFINITIONS

1.2 OBJECTIVE OF THE STUDY

1.3 LIMITATION

1.4 STAKE HOLDERS

1.5 CURRENCY USED IN REPORT

1.6 SCOPE OF THE GLOBAL FOODSERVICE EQUIPMENT MARKET STUDY

2 RESEARCH METHODOLOGY OR ASSUMPTION

2.1 RESEARCH METHODOLOGY FOR THE GLOBAL FOODSERVICE EQUIPMENT MARKET

2.1.1 MAIN OBJECTIVE OF THE GLOBAL FOODSERVICE EQUIPMENT MARKET

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 TOP START-UPS UNDER FOODSERVICE EQUIPMENT SECTOR

6 FOODSERVICE EQUIPMENT AMID COVID-19

7 GLOBAL FOODSERVICE EQUIPMENT MARKET REVENUE (USD BN), 2019-2027F

8 MARKET INSIGHTS BY EQUIPMENT TYPE

8.1 COOKING & PREPARATION EQUIPMENT

8.2 REFRIGERATION EQUIPMENT

8.3 WARE WASHING EQUIPMENT

8.4 STORAGE & HANDLING EQUIPMENT

8.5 OTHERS

9 MARKET INSIGHTS BY SALES CHANNEL

9.1 ONLINE

9.2 OFFLINE

10 MARKET INSIGHTS BY END-USER

10.1 FULL-SERVICE RESTAURANT

10.2 QUICK SERVICE RESTAURANT

10.3 HOTELS & PUB BAR CLUBS

10.4 OTHERS

11 MARKET INSIGHTS BY REGION

11.1 NORTH AMERICA FOOD SERVICE EQUIPMENT MARKET

11.1.1 UNITED STATES

11.1.2 CANADA

11.1.3 REST OF NORTH AMERICA

11.2 EUROPE FOOD SERVICE EQUIPMENT MARKET

11.2.1 GERMANY

11.2.2 FRANCE

11.2.3 UNITED KINGDOM

11.2.4 ITALY

11.2.5 SPAIN

11.2.6 REST OF EUROPE

11.3 ASIA-PACIFIC FOOD SERVICE EQUIPMENT MARKET

11.3.1 CHINA

11.3.2 JAPAN

11.3.3 INDIA

11.3.4 AUSTRALIA

11.3.5 REST OF ASIA PACIFIC

11.4 REST OF WORLD FOOD SERVICE EQUIPMENT MARKET

12 FOODSERVICE EQUIPMENT MARKET DYNAMICS

12.1 MARKET DRIVERS

12.2 MARKET CHALLENGES

12.3 IMPACT ANALYSIS

13 FOODSERVICE EQUIPMENT MARKET OPPORTUNITIES

14 FOODSERVICE EQUIPMENT MARKET TRENDS

15 LEGAL & REGULATORY FRAMEWORK

16 DEMAND AND SUPPLY SIDE ANALYSIS

16.1 DEMAND SIDE ANALYSIS

16.2 SUPPLY SIDE ANALYSIS

16.2.1 TOP PRODUCT LAUNCHES

16.2.2 TOP BUSINESS PARTNERSHIPS

16.2.3 TOP BUSINESS EXPANSIONS, INVESTMENTS AND DIVESTITURES

16.2.4 TOP MERGER AND ACQUISITIONS

17 VALUE CHAIN ANALYSIS

18 COMPETITIVE SCENARIO

18.1 PORTER'S FIVE FORCES ANALYSIS

18.1.1 BARGAINING POWER OF SUPPLIER

18.1.2 BARGAINING POWER OF BUYER

18.1.3 INDUSTRY RIVALRY

18.1.4 AVAILABILITY OF SUBSTITUTE

18.1.5 THREAT OF NEW ENTRANTS

18.2 COMPETITIVE LANDSCAPE

18.2.1 COMPANY SHARES, 2020

19 COMPANY PROFILED

19.1 WELBILT

19.2 THE MIDDLEBY CORPORATION

19.3 STANDEX INTERNATIONAL CORPORATION

19.4 ITW FOOD EQUIPMENT GROUP

19.5 DOVER CORPORATION

19.6 HAIER INC

19.7 AB ELECTROLUX

19.8 THE MANITOWOC COMPANY, INC

19.9 ALI GROUP SRL

19.10 DUKE MANUFACTURING

20 DISCLAIMER

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