Rising Demand for Efficient and Reliable Food Service Equipment Globally

0
145

The global food service equipment market size is expected to reach USD 56.90 billion by 2030, registering a CAGR of 7.1% during the forecast period, according to a new report by Grand View Research, Inc. The increasing trade activities in the food & beverage industry, upsurge in travel & tourism activities, changing food consumption habits, and rise in disposable incomes are some of the key factors driving the growth of this market.

Equipment manufacturers are focusing on mergers & acquisitions to introduce state-of-the-art product offerings for attaining a competitive edge in the market. For instance, in 2019, SMEG S.p.A collaborated with Dolce & Gabbana S.r.l. for special styling of Fab28 SMEG refrigerator, which was encouraged by old Sicilian art. This collaboration was aimed at developing products in captivating designs consumers would like to incorporate in their modular, open commercial kitchen spaces.

 

Access the Food Service Equipment Market Size, Share & Trends Analysis Report 2024-2030, published by Grand View Research

 

The pressing need to conserve energy has compelled manufacturers to focus on the development of energy-efficient appliances for commercial kitchens. Appliances are being integrated with bidirectional Internet of Things (IoT) connectivity. These connected appliances can automatically alert kitchen staff to increase preparation uptime. Additionally, the increasing number of restaurants across the globe is also driving the market. As per the National Restaurant Association, the U.S region itself accounts for more than 1 million restaurants of different kinds and sizes.

 

The COVID-19 pandemic and the subsequent lockdowns imposed by governments worldwide to minimize its communal spread at the beginning of 2020 had a substantial negative impact on the market. Various industries such as food & beverage, travel & tourism, and hospitality have been severely impacted by the temporary shutdown of manufacturing units, transportation, and logistic operations. Relaxations announced by several governments in the mid of 2020 led to the gradual increase in the online delivery business and take away from restaurants & hotels, resulting in some recovery of the food & beverage industry.

 

 

Food Service Equipment Market Report Highlights

·        The Asia Pacific market accounted for the highest revenue share of close to 36% in 2023 and is expected to retain its dominance in the market over the forecast period.

 

·        In terms of product, the kitchen purpose equipment segment dominated the market with a revenue share of over 35% of the overall market in 2023

 

·        The Full Service Restaurant (FSR) end-user segment is estimated to dominate the food service equipment industry over the forecast period.

 

Order Your Sample Copy of the Food Service Equipment Market Size, Share & Trends Analysis Report By Product (Kitchen Purpose Equipment), By End-use (Full Service Restaurant), By Sales Channel (Online, Offline), And Segment Forecasts, 2024 - 2030

 

Recent Developments

·        In July 2023, Hoshizaki America announced the expansion of its sales team in the country with three new manufacturers’ representative groups to represent their refrigeration lines. Gabriel Group, Preferred Source, and Elevate Foodservice Group would act as agents in the Midwest, the Northern Texas, and the Northeast territories respectively

 

·        In February 2023, The Middleby Corporation announced the acquisition of Marco Beverage Systems, a Dublin, Ireland-based designer and manufacturer of energy-efficient beverage dispensing solutions. The acquisition would help expand Middleby’s offerings in cold brew dispense and coffee brewers, along with various types of hot, cold, and sparkling water dispensers

 

·        In February 2023, Vollrath Company announced the revamping of its countertop equipment line, aimed at improving the performance, functionality, and ease of use for customers. New features or updates have been added to hot food merchandizers; fryers; gas equipment such as charbroilers, hot plates, and griddles; and half-size long warmers. Additionally, the company has also updated the visual design of their models

 

·        In January 2023, Rancilio Group announced that the Rancilio Specialty RS1 had obtained the Premium Certification from the Italian Espresso Institute (IEI), making it one of the first espresso machines to attain this certification. The RS1 features a multi-boiler system and Advanced Temperature Profiling technology and was tested on the constancy of the extraction temperature, pre-infusion, and steam production

 

 

Explore Horizon, the world's most expansive market research database

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

Follow Us: LinkedIn | Twitter

 

Search
Categories
Read More
Other
A Complete guide on Anaplan
What is Anaplan  Anaplan is a cloud-based platform that offers businesses the ability to...
By Sesame Technologies 2023-05-14 16:56:57 0 889
Health
Botanical Farms CBD Gummies Reviews (Scam or Legit) Is It Worth the Money! Read The Real Fact Before Buy?
Botanical Farms CBD Gummies ➢Product Name —Botanical Farms CBD Gummies Reviews ➢Main...
By Dnna Mayugh 2021-12-08 11:08:50 0 598
Health
CONSISTENCY IS ANOTHER KEY PART OF KEILINI HEATE
  Keilini Heater has high potential. It emits ZERO noise during operation. companies are...
By Brandon Froberts 2022-10-14 07:26:37 0 1K
Other
علاجات التحكم في الشحوم
علاجات التحكم في الشحوم افضل فني شركة تسليك تنظيف مجاري الكويتيذيب هذا المنتج الشعر والصابون...
By Norhaan Noor 2021-12-12 23:32:41 0 1K
Other
Why 24/7 Emergency Vet Services Are Essential
When our pets face emergencies, having access to veterinary care at any hour is crucial. 24/7...
By Abbotsford Valley Emergency Clinic 2024-07-17 10:40:29 0 144