Food Service Equipment Market - Global Industry Analysis

Food Service Equipment Market

Food Service Equipment Market Share, Size, Industry Share & Trends 2030

Category: Food & Beverage Report Format : PDF Pages: 110 Report Code: ZMR-3945 Published Date: Mar-2019 Status : Published

Food service equipment market in Europe expected to generate around USD 11,552 million by 2024, at a CAGR of around 3.4% between 2019 and 2024.

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Food service equipment is used for handling or processing food, right from cooling to roasting and from peeling to grinding, for different commercial purposes. The equipment is used majorly in the food service industry by restaurants, hotels, and other commercial kitchens. The Europe food service equipment market consists of a wide array of players including manufacturers, service providers, distributors, etc. The equipment manufacturers seek to maintain their products’ quality while keeping in mind the different products the equipment surface will be in contact with. Some key characteristics of food service equipment include good mechanical strength, easy assemblage, and corrosion-resistant. With digitalization, food service equipment has also evolved to include automated tools. Different equipment available in the market today has automated temperature controllers and remote access, which help the manufacturers diversify their offerings and cater to a wide range of requirements for specific end-users. These features additionally help in reducing the energy cost of the equipment in use.

The food service equipment market is likely to grow majorly over the estimated timeframe due to the development made in the hospitality industry resulting in the rising number of hotels and restaurants globally. Moreover, the increased demand for refrigerated food products, changing lifestyles of people, growing import-export of various foods and beverages, and altering food consumption trends are projected to contributing toward the food service equipment market growth over the forecast time period. However, high capital investments and growing need for a skilled workforce to operate the equipment may hamper the Europe food service equipment market in the upcoming years.

Global Food Service Equipment Market1

On the basis of product, the food service equipment market is segmented into refrigeration, kitchen purposes, storage, food holding and serving, ware washing, and others. Based on end-user, the food service equipment market is segmented into quick-service restaurants and pubs, full-service restaurants and hotels, supermarkets and chain stores, and caterings.

The country-wise segment of this market includes for France, UK, Germany, Poland, Russia, Spain, Italy, and Rest of Europe. The Europe food service equipment market is majorly dominated by France. France held the major market share in 2018 and is expected to continue its dominance in the upcoming years as well. This growth can be attributed to the presence of a large number of fast food giants, such as Subway, McDonald's, Burger King, and KFC, among others, and various types of restaurants across the country.

Some major players operating in the food service equipment market are Electrolux, Libbey Inc., Tupperware Brands Corporation, Duke Manufacturing Co. Inc., Cambro Manufacturing Company, Inc., Hoshizaki Electric Co., Ltd., Dover Corporation, Rational AG, Manitowoc Foodservice Inc., Middleby Corporation, Ali Group, Coreco, Liebherr, Infrico, Bizerba, Micro Matic, Sirman, and Hobart Corporation, among others.

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