During the projected period (2023-2033), the global food holding equipment market is expected to grow at a CAGR of 4.1%. The food holding equipment market is projected to reach a valuation of USD 5,679.2 million by the end of 2033 from USD 3,800 million in 2023.
A commercial kitchen's performance is based on a large number of variables, but keeping advanced food equipment is paramount. Commercial holding equipment is used in full-service and quick-service restaurants to keep food at the ideal serving temperature and preserve its freshness. Over the past two decades, the restaurant industry has continually grown, thereby creating new opportunities for leading players in the commercial food holding equipment market.
Expanding restaurant industry and the rising number of supermarkets & delis around the world are projected to boost the global food holding equipment market in the next ten years. Digital innovations are expected to be a significant revenue and consumer retention driver in the assessment period.
Moreover, customer loyalty programs launched by restaurants would allow them to enhance and personalize their interactions with customers. They can easily gain access to the information by utilizing point-of-sale orders, as well as online and mobile ordering. Integration of this crucial data would further help cafes & restaurants to generate customized rewards based on their ordering habits in addition to promotions and discounts.
The rising number of independent quick-service restaurants in both developed and developing countries is also expected to push the global food holding equipment market during the assessment period. The growing trend of delivering sophisticated facilities, dining out, and less spending of time by consumers on cooking at home are anticipated to augur well for the global market.
In December 2021, for instance, FMCG major CavinKare announced its entry into the quick service restaurant (QSR) segment as part of its innovative retail expansion plans. The company introduced Jango’z, its new brand at Perambur in Chennai.
It is aiming to set up more than 100 outlets across various strategic locations in India by 2026. Thus, similar restaurant launches by key companies in various parts of the globe are anticipated to bode well for the global food holding equipment market in the next ten years.
| Attributes | Key Insights |
|---|---|
| Global Food Holding Equipment Market Estimated Size (2023E) | USD 3,800 Million |
| Projected Market Valuation (2033F) | USD 5,679.2 Million |
| Value-based CAGR (2023 to 2033) | 4.1% |
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During the historical period from 2018 to 2022, the global food holding equipment market witnessed steady growth at a CAGR of 3.2%. Numerous end users of commercial food warming & holding equipment are consistently focusing on enhancing the safety of large quantities of cooked food items.
Warming equipment has emerged as one of the most effective tools to ensure protection from harmful bacteria and pathogens. Pathogens are set to multiply in numbers between 5 ºC and 63 ºC and therefore, demand for warming equipment is poised to grow at a rapid pace during the forecast period.
The Food Safety Regulations 1995 and similar other regulations have been implemented by government agencies to ensure the safety of consumers. Foodservice participants are also continually putting efforts to ensure that the cooked food is free from harmful bacteria and remains at the desired temperature level, which is set to push the use of food holding and warming equipment. Owing to the aforementioned factors, the global food holding equipment market is anticipated to exhibit a CAGR of 4.1% from 2023 to 2033.
A number of influential factors have been identified to play a significant role in the food-holding equipment market. Analysts at FMI have also analyzed the restraining factors, lucrative opportunities, and upcoming threats that can pose a challenge to the progression of the food-holding equipment market.
The drivers, restraints, opportunities, and threats (DROTs) identified are as follows:
DRIVERS
RESTRAINTS
OPPORTUNITIES
THREATS
Principal Consultant
Fast Food Outlets in the USA to Look for Advanced Food Preparation Equipment
As per FMI, the food holding equipment market in the United States is estimated to be worth about USD 681.0 million by 2032 and account for nearly 56% of the North American market during the evaluation period. An increasing number of fast food chains and restaurants across the US is set to push the food industry in the country.
Also, the rising supermarket culture in the USA would help fuel sales of food-holding equipment in the next ten years. The ability of food-holding equipment to extend the shelf life of food and maintain its optimum temperature is another crucial factor that is projected to aid growth.
UK-based Companies to Look for Food Equipment to Maintain Overall Temperature
In the next ten years, it is expected that the UK will experience rapid growth. The food-holding equipment market in the country is anticipated to grow as more people are becoming aware of the advantages of holding food products. They are striving to maintain the overall temperature to preserve numerous food items.
Furthermore, advancements in the food holding sector such as merging all process equipment into one to save human labor and increase sanitation standards, are projected to propel the UK food holding equipment market. The UK is expected to be valued at nearly USD 491.0 million and accounts for 34% of the Europe food holding equipment market share in the forecast period.
Rising Demand for Poultry Products in China to Spur Sales of Food Warming Tables
According to FMI, China is set to be worth over USD 313,5 million and account for 33% of the Asia Pacific food holding equipment market share in the assessment period. Growth is attributed to the ever-increasing population with a wide range of socioeconomic and cultural characteristics. Furthermore, as Western countries have increased their investments in China to develop their food industry, demand for food holding equipment has increased, production levels have advanced, and processing times have decreased.
In addition, market expansion has been aided by population growth and rising awareness about the benefits of consuming high-quality food products. The strong presence of various producers, particularly in China is another crucial factor that would drive the market. Due to the rising consumption of poultry products in urban areas and the urgent need for processed food products, demand for food holding equipment is surging across China.
Quick Service Restaurants to Demand Kitchen Holding Equipment by the End of 2033
By end user, the quick service restaurants segment is expected to remain at the forefront in the global food holding equipment market in the next ten years. Changing lifestyle of millennials and the rising shift towards convenience food are two of the major factors pushing the segment. Besides, the rising penetration of e-commerce channels, as well as the emergence of various smartphone applications providing home delivery and other quick assistance to enhance user experience to suit the ongoing modernization would bode well for the segment in the global food holding equipment market.
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The global food holding equipment market is estimated to be highly fragmented with the presence of a large number of small- and large-scale companies. They are mainly focusing on new product launches to expand their portfolios and cater to a wide range of end-use industries. A few other key players are engaging in mergers and acquisitions, as well as partnerships with leading companies to co-develop novel products.
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| Attribute | Details |
|---|---|
| Estimated Market Size (2023) | USD 3,800 Million |
| Projected Market Valuation (2033) | USD 5,679.2 Million |
| Value-based CAGR (2023 to 2033) | 4.1% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | Value (USD Million) |
| Key Regions Covered |
North America; Latin America; Europe; Asia Pacific; Oceania; Middle East & Africa (MEA) |
| Key Countries Covered |
The USA, Canada, Mexico, Germany, The UK, France, Italy, Spain, China, Japan, India, South Korea, Australia, Brazil, Argentina, South Africa, UAE |
| Key Segments Covered |
Product TypeType, End User, Region |
| Key Companies Profiled |
Dover Corporation; Welbilt Inc. (Manitowoc Foodservice, Inc.); Illinois Tool Works Inc.; Hatco Corporation; Ali Group S.r.l.; MKN Maschinenfabrik Kurt Neubauer GmbH & Co KG; Al-Halabi Refrigeration & Steel LLC; Fujimak Corporation; Duke Manufacturing; Conagra Brands; Greencore Group; Nestlé S.AOlam International; The Kraft Heinz Company; PepsiCo Inc.; AGRANA Group; Bonduelle; Dole Food; SVZ International B.V.; Sahyadri Farms; Diana Group S.A.S.; RAJE AGRO FOODS PRIVET LIMITED |
| Report Coverage | Market Forecast, Company Share Analysis, Competitive Landscape, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The global food holding equipment market size is expected to be USD 3,800 Million by the end of 2023.
The food holding equipment market is expected to rise at a CAGR of 4.1% in the forecast period.
The USA, China, the UK, Germany, and Mexico are the major countries driving demand in the food holding equipment market.
Dover Corporation, Welbilt Inc. (Manitowoc Foodservice, Inc.), Illinois Tool Works Inc., and Hatco Corporation Victor Manufacturing Ltd. are expected to be the top players driving the food-holding equipment market.
The global food holding equipment market is estimated to surpass USD 5,679.2 Million by the end of 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Holding Cabinets 5.2. Proofing Cabinets 5.3. Refrigerators and Chillers 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User Type 6.1. Full-Service Restaurants 6.2. Quick Service Restaurants 6.3. Hotels 6.4. Airports 6.5. Railways 6.6. Hospitals 6.7. Schools 6.8. Supermarkets 6.9. Delis 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. East Asia 7.5. South Asia 7.6. Oceania 7.7. Middle East & Africa (MEA) 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Dover Corporation 17.2. Welbilt Inc. (Manitowoc Foodservice, Inc.) 17.3. Illinois Tool Works Inc. 17.4. Hatco Corporation 17.5. Victor Manufacturing Ltd. 17.6. Ali Group S.r.l. 17.7. MKN Maschinenfabrik Kurt Neubauer GmbH & Co KG 17.8. Al-Halabi Refrigeration & Steel LLC 17.9. Fujimak Corporation 17.10. Duke Manufacturing 17.11. Conagra Brands 17.12. Greencore Group 17.13. Nestlé S.A 17.14. Others (on demand) 18. Assumptions & Acronyms Used 19. Research Methodology
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Food Holding Equipment Market
