Food service equipment is utilized to store and prepare food items for commercial means. This equipment comprise storage & handling equipment, cooking equipment, food & beverage preparation equipment, ware washing equipment, and serving equipment. They are utilized in the food service industry like hotels, restaurants, and other commercial kitchens.
During the forecast period, the growth of the global food service equipment market is projected to be mainly driven by the rising stipulation for cost-effective & energy-efficient products, mounting food demand & growing rate of population, the altering lifestyle, and snowballing need for ready-to-eat foods. Further, growth of the hospitality industry along with rising usage of temperature-controlled storage equipment for processed and perishable food items will also surge the market expansion during upcoming period. In addition, flourishing food service industry and the rising demand for efficient, multi-functional, time & space saving, and decreased labor will boost the expansion of the global food service equipment market.
The global food service equipment market can be bifurcated into end use, product type, and geography. The market, by end use, is classified into quick service restaurants & pubs, full-service restaurants & hotels, and catering. The market, by product type, is divided into ware washing equipment, storage & handling equipment, cooking equipment, serving equipment, and food & beverage preparation equipment.
Regionally, the global food service equipment market is projected to be governed by Asia Pacific during the forecast period owing to the rising espousal of modern lifestyle, particularly in budding nations like India, Japan, and China together with the growing count of nuclear families. North America also is projected to witness considerable growth rate during the forecast period on account of the rising requirement to implement the newest technology and the mounting working population & fast food demand in this region.
Some of the leading companies actively participating within the global food service equipment market include Ali Group S.r.l. a Socio Unico; Electrolux; Duke Manufacturing, Dover Corporation; Haier lnc., FUJIMAK CORPORATION., The Middleby Corporation, ITW FOOD EQUIPMENT GROUP, Smeg, Manitowoc Foodservice, Buildit, The Vollrath Company, LLC., Parth Kitchen Equipments, Kitchenrama, Shreemanek, Berjaya Steel Product Sdn. Bhd, Bharti Refrigeration Works, Vulcan, and MJD Industries Inc.
To set a strong foothold in the market, key players are implementing several approaches like expansions, new product launches, joint ventures, agreements, acquisitions, partnerships. To cite, in May 2019, procurement of Myers Restaurant Supply was announced by Edward Don & Company. This purchase will assist the firm to improve their supply & equipment business and also aid them to grow them in California market.