The commercial foodservice equipment global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Commercial Foodservice Equipment Market, 2024 report by The Business Research Company
offers comprehensive insights into the current state of the market and
highlights future growth opportunities.
Market Size -
The commercial foodservice equipment market size has grown strongly in recent
years. It will grow from $31.25 billion in 2023 to $33.28 billion in 2024 at a
compound annual growth rate (CAGR) of 6.5%. The growth in the historic period
can be attributed to increasing demand for quick service restaurants, growth in
the food and beverage industry, increasing interest in healthier and gourmet
food options, regulatory standards, and increasing demand for equipment that
supports food packaging and transportation.
The commercial foodservice equipment market size is expected to see strong
growth in the next few years. It will grow to $42.95 billion in 2028 at a
compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period
can be attributed to increasing urban populations, increased awareness about
food safety and hygiene, the expansion of global food chains, the growing
popularity of delivery and takeout services, and growing investment in culinary
education and training facilities. Major trends in the forecast period include
the increasing adoption of advanced technologies, integration of digital
ordering and payment systems, remote monitoring and management, compact and
space-saving designs, and robotic and automated solutions.
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Scope Of Commercial Foodservice Equipment Market
The Business Research Company's reports encompass a wide range of information,
including:
1. Market Size (Historic and Forecast): Analysis of the market's historical
performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market
landscape.
4. Key Segments: Breakdown of the market into its primary segments and their
respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and
geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting
the market.
Commercial Foodservice Equipment Market Overview
Market Drivers -
The ongoing expansion of quick service and fast casual restaurants is expected
to propel the growth of the commercial foodservice equipment market going
forward. Quick-service restaurants (QSRs) are establishments offering fast food
with minimal table service, while fast casual restaurants provide
higher-quality food and a more relaxed dining experience without full table
service. The expansion of quick service and fast casual restaurants is driven
by growing consumer demand for convenient, high-quality, and affordable dining
options. Commercial foodservice equipment in quick service and fast casual
restaurants is utilized to streamline food preparation, enhance efficiency, and
maintain high standards of food quality and safety. For instance, in June 2023,
according to a report published by Aviko, the Netherlands-based food company,
in the UK, the fast food industry grew from $26.57 million (£20.61 billion) in
2022 to $28.41 million (£22.04 billion) in 2023. By mid-2023, 45% of UK
consumers were dining at fast food establishments. Additionally, 13% of the
British population purchased takeaway food once a week during the same year.
Therefore, the ongoing expansion of quick service and fast casual restaurants
is driving the growth of the commercial foodservice equipment market.
Market Trends -
Major companies operating in the commercial foodservice equipment market are
focusing on developing innovative products, such as combi ovens, to enhance
cooking efficiency and versatility. Combi ovens refer to advanced kitchen
appliances that combine steam and convection cooking methods for greater
efficiency, precision, and versatility. For instance, in November 2023, UNOX
Inc., a US-based manufacturer of food machinery products, launched two new
advanced ovens, CHEFTOP-X and BAKERTOP-X. These ovens are set to revolutionize
performance and user-machine interaction with fast, intuitive, and customizable
interfaces featuring hyper-connectivity functions enhanced by AI. The CHEFTOP-X
is tailored for gastronomy applications, while the BAKERTOP-X is designed for
bakeries and pastry shops, adapting to their specific requirements. Both ovens
are equipped with state-of-the-art technology, including voice operation
through HEY.Unox and the brand-new OPTIC Cooking accessory, which simplifies
the cooking process by allowing operators to insert food and let the oven
visually recognize it and start the correct program automatically.
The commercial foodservice equipment market covered in this report is segmented
–
1) By Type: Baking Equipment, Cooking Equipment, Ware Washing Equipment,
Preparation Equipment, Holding And Storing Equipment, Beverage Equipment, Ice,
Refrigeration
2) By Distribution: Offline, Online
3) By End-User: Food Production Facilities, Foodservice Outlets
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Regional Insights -
North America was the largest region in the commercial foodservice equipment
market in 2023. The regions covered in the commercial foodservice equipment
market report are Asia-Pacific, Western Europe, Eastern Europe, North America,
South America, Middle East, Africa.
Key Companies -
Major companies operating in the commercial foodservice equipment market are
Libbey Inc., Cambro Manufacturing Co, The Vollrath Company LLC, Tundra
Restaurant Supply, Provisur Technologies Inc., Broaster Company, Blodgett Oven
Company, Hatco Corporation, Falcon Foodservice Equipment ltd, Chefs'Toys,
Victory Refrigeration, Energy Star, AMTek Microwaves, Adexa Direct, Riddhi
Display Equipments Pvt Ltd, TAG Catering Equipment UK Ltd, Bakers Pride,
Kitchenrama, Hobart Food Equipment, Roundstone Catering Equipment Ltd,
Cater-kwik Ltd, Target Catering Equipment, Canadian Restaurant Supply, Permul
Ltd
Table of Contents
1. Executive Summary
2. Commercial Foodservice Equipment Market Report Structure
3. Commercial Foodservice Equipment Market Trends And Strategies
4. Commercial Foodservice Equipment Market – Macro Economic Scenario
5. Commercial Foodservice Equipment Market Size And Growth
…..
27. Commercial Foodservice Equipment Market Competitor Landscape And Company
Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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