Food Serving Equipment Market

Food Serving Equipment Market Outlook (2023 to 2033)

During the projected period (2023 to 2033), the global food-serving equipment market is expected to grow at a CAGR of 6.2%. The food serving equipment market size is projected to reach a valuation of USD 3,800 million in 2023 and USD 6,934.7 million by the end of 2033.

The rapidly expanding hotel sector throughout the world is fueling the food-serving equipment market. The exponentially increasing number of food service enterprises, especially in European and Asian nations, can also be attributed to the rising need for this type of equipment.

Modern, energy-efficient service equipment is necessary for restaurants, hotels, and catering businesses to maintain continuous operations in the kitchen. Additionally, the increased standard of living brought on by growing consumer disposable income is fueling the food serving equipment market expansion.

Over the past two decades, the restaurant industry has continually grown, thereby creating new opportunities for key players in the commercial food warming & serving equipment market. The presence of a large number of fast-food restaurants in both developed and developing countries is another crucial factor that is projected to boost the global food-serving equipment market in the next ten years.

Moreover, the rapid expansion of the hospitality sector, rising demand for takeaways, and changing food consumption patterns are expected to augur well for the global market. Stringent consumer safety norms, the urgent need for eco-friendly & sustainable equipment, and ongoing digitization are some of the other key factors pushing the global food serving equipment market.

In August 2022, for instance, Hamilton Beach, a leading kitchen appliance brand based in the US, announced its plans to introduce its premium range of panini makers and air fryers in India after the launch of its professional juicer mixer grinder. The company values the Indian market and is looking forward to solving complex kitchen challenges. It wants its products to be embraced by both home chefs and professionals. Thus, the launch of similar food serving equipment is projected to drive the global market in the evaluation period.

The market is likely to evolve at a rapid pace with changing needs of customers for outfitting their kitchen spaces. Ongoing technological progressions and changing social customs are anticipated to create a dynamic marketplace for the equipment and tools utilized in the end-use industry.

Attribute	Key Insights
Global Food Serving Equipment Market Estimated Size (2023E)	USD 3,800 Million
Projected Market Valuation (2033F)	USD 6,934.7 Million
Value-based CAGR (2023 to 2033)	6.2%

2018 to 2022 Global Food Serving Equipment Market Outlook Compared to 2023 to 2033 Demand Forecast

During the historical period from 2018 to 2022, the global food-serving equipment market exhibited steady growth at a CAGR of 4.6%. This growth is attributed to the emergence of custom food service appliances to cook a wide range of cuisines. Besides, the invention of advanced equipment and machinery for storing and preparing food such as electric refrigerators, ranges, and cooking stoves is another vital factor that pushed growth in the global food serving equipment market during the historical period.

Ongoing technological advancements with the help of continuous research and development (R&D) activities are likely to help appliance companies to deliver highly efficient products to their clients. Demand for unique food serving equipment is also expected to surge in the evaluation period with the emergence of multiple casual restaurant chains across Europe, Asia Pacific, North America, and Latin America.

Companies in these regions are nowadays mandated to sell tested and certified commercial kitchen appliances as per the safety rules implemented by government bodies across the globe. For instance, the National Sanitation Foundation (NSF), which is an American product certification, inspection, and testing non-profit organization, announced the development of new equipment safety standards to ensure food sanitation protocols and safety requirements are maintained by end-use industries. Owing to the aforementioned factors, the global food serving equipment market is estimated to showcase a CAGR of 6.2% in the forecast period (2023 to 2033).

Country-wise Insights

How are USA-based Food Serving Equipment Companies Faring?

Rising Number of Fast Food Chains in the USA to Spur Sales of Electric Serving Warmers

As per FMI, the food serving equipment market in the USA is estimated to be worth about USD 875.5 million by the end of 2033. The country is anticipated to generate nearly 72% of the North American market share during the assessment period. A rising number of fast food chains and restaurants across the US is projected to drive the market in the next decade. Also, the urgent need to extend the shelf life of food items and maintain their optimum temperature is likely to bolster the market.

Why is the Demand for Food Serving Equipment Surging Rapidly in the UK?

Expansion of Tourism in the UK to Boost the Demand for Food Serving Supplies

In the next ten years, the UK is estimated to account for around 23% of the share in the Europe food serving equipment market. The country is projected to create an absolute dollar opportunity of nearly USD 332 Million by the end of 2033. Ongoing advancements in the food processing sector is one of the major factor contributing to growth in the UK market.

Besides, the presence of well-established brands such as Fryer's, Chicken Cottage, Leon Restaurants, Krispy Kreme UK, Ed's Easy Diner, Sam's Chicken, and Morley's in the country is anticipated to foster sales. Government initiatives to expand the tourism sector and immigration in the country are also set to uplift the restaurant industry, thereby fueling sales of food-serving equipment across the UK.

How Will International Food Serving Equipment Firms Enter the Emerging Country of China?

Westernizing Dining Customs in China to Push Sales of Commercial Kitchen Equipment

According to FMI, the China food serving equipment market is set to be worth over USD 255.4 Million, accounting for 32% of the Asia Pacific market share during the forecast period. This growth is attributed to the rising population in the country with a wide range of socioeconomic and cultural characteristics.

Furthermore, as western countries have increased their investments in the country to develop its food industry, demand for food serving equipment has surged. It has led to the advancement of production levels and the reduction of processing times.

Apart from that, the expansion of the tourism sector and rapidly westernizing dining customs in China are expected to bolster the market. A rising number of customers experimenting with new foods and developing a taste for different cuisines are compelling restaurants in the country to incorporate various cuisines into their menus. Coupled with this, the high demand for processed food and beverages in China is projected to drive the market.

Category-wise Insights

Who is the Leading End User of Food Serving Equipment?

Quick Service Restaurants to Look for Advanced Electric Hot Food Serving Counters

Based on end users, the quick-service restaurant segment is expected to remain at the forefront in the global food-serving equipment market in the next ten years. Quick-service restaurants have recently evolved as a significant providers of mass-produced food, which has been attracting a rising number of consumers towards enjoying and experiencing their services. Economical, good taste and convenience in terms of both money and time are some of the vital factors supporting the segment’s growth.

Competitive Landscape

The global food serving equipment market is highly fragmented with the presence of a large number of key players. The rising deployment of sustainable technology in modern equipment has encouraged key companies to focus more on mergers & acquisitions and partnerships that would benefit their business. Meanwhile, a few other international companies are joining hands with sustainability to develop customer-centric equipment, thereby addressing food wastage problems.

For instance,

• EvoWash and EvoRinse, two new integrated rinse pumps, were introduced in June 2021 by Hydro Solutions, a brand of ware washing technology owned by PSG Dover. For both commercial and non-commercial food service companies, this equipment has an inbuilt powdered or solid detergent dissolver that is optional.
• Welbilt, a major supplier of food service equipment, said in January 2022 that it has signed a deal with Cleveland and Delfield's NexGen Procurement Group. Under NexGen Procurement Group, these businesses became the major provider of refrigeration, steam, and serving systems.

Scope of the Food Serving Equipment Market Report

Attribute	Details
Estimated Market Size (2023)	USD 3,800 Million
Projected Market Valuation (2033)	USD 6,934.7 Million
Value-based CAGR (2023 to 2033)	6.2%
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 US, 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	AB Electrolux; Ali Group S.r.l. a Socio Unico; Dover Corporation; Duke Manufacturing; 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; Conagra Brands; Greencore Group; Nestlé S.A; Olam 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

Food Serving Equipment Market Outlook by Category

By Product Type:

• Kitchen Purpose Equipment
• Refrigeration Equipment
• Ware Washing Equipment
• Food Holding & Storing Equipment

By End User:

• Full-Service Restaurants
• Quick Service Restaurants
• Hotels
• Airports
• Railways
• Hospitals
• Schools
• Supermarkets & Delis

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East & Africa (MEA)

Frequently Asked Questions

How big is the food serving equipment market?

The food serving equipment market size is expected to reach USD 3,800 Million by the end of 2023.

At what rate is the global food serving equipment market expected to rise?

The food serving equipment market is expected to rise at a CAGR of 6.2% during the forecast period from 2023 to 2033.

Which are the major countries driving demand in the food serving equipment market?

The US, China, the UK, Germany, and Mexico are the major countries driving demand in the food serving equipment market.

Which are the top 5 players operating in the food serving equipment market?

AB Electrolux, Ali Group S.r.l. a Socio Unico, Dover Corporation, Duke Manufacturing, Haier Group, SMEG S.p.A., and The Middleby Corporation are expected to be the top players driving the food serving equipment market.

What is the demand outlook forecast for the food serving equipment market?

The global food serving equipment market is estimated to surpass USD 6,934.7 Million by the end of 2033.