The global food service equipment Sales are valued to reach USD 45,449.7 million by 2024 and USD 82,099.3 million by 2034. The sales are expected to surge at a CAGR of 5.6% over the assessment period.
Increase adoption of multi-functional equipment, due to space restrictions, many restaurants prefer to use equipment that can perform various activities while saving space in the kitchen are in more demand
Manufacturers are being directed to make food services equipment that has more digital components and is interactive to cater to well-aware consumers, especially millennials. A trend of equipment that helps to reduce waste has been observed. This consists of refrigeration equipment that helps to increase the shelf life of perishable items.
By providing such innovative products manufacturers can create differentiation in the market and attract customers who are looking for eco-friendly alternatives a shift in the sales has been observed that corresponds to the changing requirements of consumers for kitchen furnishings which are more automated.
| Attributes | Key Insights |
|---|---|
| Estimated Global Food Service Equipment Market Size (2024E) | USD 45,449.7 million |
| Projected Food Service Equipment Market Value (2034F) | USD 82,099.3 million |
| Value-based CAGR (2024 to 2034) | 5.6% |
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| Particular | Value CAGR |
|---|---|
| H1 | 4.9% (2023 to 2033) |
| H2 | 4.5% (2023 to 2033) |
| H1 | 5.1% (2024 to 2034) |
| H2 | 5.3% (2024 to 2034) |
The compounded annual growth rate (CAGR) for equipment has shown a steady growth, reflecting an optimistic market trajectory. The CAGR for H1 was 4.9% for the period of 2023 to 2033, which has increased to 5.1% for the period of 2024 to 2034.
Similarly, H2 saw an increase from 4.5% (2023 to 2033) to 5.3% (2024 to 2034). Growing demand for convenience and Implementation of the automated technologies is more preferred. Continuous product innovation is expected to play a key role in fostering market development.
Increasing Preference for Visually Appealing and Multi-Functional Cooking Equipment
The trend for natural food products and clean meals continues to rise, kitchens are increasingly adopting open layouts and front-of-house preparation. Customers now desire to see where their food comes from and want to feel involved in the process, driving restaurants to invest in modern cooking equipment that meets these demands.
To maximize kitchen space, restaurant owners are increasingly turning to multi-functional equipment capable of performing multiple tasks. Combination and fast-cook ovens, which offer various cooking processes for preparing a diverse range of dishes, have become especially popular.
For instance, TurboChef Double Batch, a ventless impingement oven featuring two independently controlled high-speed ovens that significantly boost food production speed, thanks to its oscillating rack. Despite its compact 27-inch width, this oven is energy-efficient and allows chefs to control each oven separately using a split-screen, Wi-Fi-connected touch controller.
Ghost Kitchens Are Expanding Their Reach
Since the pandemic, there has been a significant shift towards off-premise dining, leading to the emergence of new businesses catering to this growing demand. Without the need for dine-in facilities, ghost kitchens can reduce their operational space by 75-80% compared to traditional premium restaurants. This also results in lower front-of-house costs for cloud kitchens, as they are not limited by seating capacity and do not need to turn away customers due to overcrowding.
These kitchens, also known as ghost kitchens, shared kitchens, or virtual kitchens, operate delivery-only food brands referred to as virtual restaurants. For years, Chinese restaurants have capitalized on delivery services, and the pizza industry has built its entire business model around optimizing delivery.
As these concepts expand, there will be an increasing demand for innovative foodservice equipment such as tabletop batch freezers, single countertop machines, meat-aging refrigerators, ozone sanitization systems, and dough sheeters.
Growing Demand for New Ventless Hood Systems
New ventless hood systems are becoming increasingly popular for maintaining kitchen air quality and preventing grease buildup. Unlike traditional vent hood systems, which are connected to the existing air duct system, ventless hoods filter air using mesh or carbon filters and recirculate clean air back into the kitchen. This makes them easier and more economical to install, especially in kitchens without existing ventilation systems.
These systems are an excellent choice for locations where traditional vented hoods are not feasible and are essential for compact, mobile kitchens or those in older buildings.
Principal Consultant
The global food service equipment sales grew at a CAGR of 4.2% from 2019 to 2023. By 2034, the market for food service equipment is forecast to progress at a 5.6% CAGR.
Industrialization and machination in food processing industry got popular in the year 2020. Steam power and electric gear transformed the major processes like baking, canning, and milling. Ready-to-eat meals have become very popular because of the changed lifestyles of consumers and the rise in the number of households with dual incomes.
Technology has also aided this change in lifestyle by evolving food preparation processes and making them satisfy the demand for quick and easy meals. Sustainability has become an important thing in the 21st century food processing industry.
The food preparation industry has witnessed changes to accommodate the plant-based food components as alternative to meat products in food, this changes has been led by rising demand for plant-based diets.
Over next decade trends that forecast the outlook are new ventless hood systems for air quality of the kitchen and to prevent grease accumulation, machine intelligence, robotics, and cloud connectivity for restaurant businesses to construct efficient smart kitchens, Space savers with multi-function modular and countertop-sized devices that fill in the gaps, Color coding tools are used to expand the color palette beyond basic equipment, improve kitchen health and safety, and make life easier for everyone from your chefs to your cleaning crew.
As the world's population grows, so does the demand for food, which is propelling the food service equipment business forward. Furthermore, in the Asian market, robots are beginning to enter the food service sector. Several Chinese restaurants are testing the use of robots in the preparation and delivery of food will be the worth keeping eye on.
Rational AG, ITW Food Equipment Group, Middleby Corporation, Welbilt, Ali Group S.r.l, AB Electrolux, Hoshizaki Electric Co., Ltd, Haier Group, and other are the leaders in foodservice equipment market which account for 25% to 30% of the global market.
Tier-2 manufacturers account for around 30% to 35% of the overall market. These players mainly have strong regional presence. The target revenue of Tier-2 manufacturers is between 100 Million to 500 Million, Examples : Fujimark Corporation, Panasonic Corporation, SMEG S.p.A. and other.
Tier-III and Other Market Players accounts for minimal share of 35% to 40% of total market share, Libbey Inc, Cambro Manufacturing Company Inc., Hatco Corporation and others are the prominent players in the Tier-III and Others market players these players have market share of around 0.5% and so on.
The integration of smart technology, including artificial intelligence (AI) and the Internet of Things (IoT), is becoming increasingly common in food service equipment, enhancing automation, efficiency, and monitoring capabilities.There is a growing demand for modular and adaptable equipment that can meet the specific needs of various food service businesses, making kitchen operations and layouts more flexible.
Rising environmental awareness is driving the need for sustainable and eco-friendly equipment. Manufacturers are focusing on creating products with a reduced environmental impact and using recyclable materials. The demand for equipment with enhanced sanitary features and easy-to-clean designs is on the rise, driven by the increasing emphasis on health and safety worldwide.
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The table below shows the estimated growth rates of the top five countries. China, India, and Australia are set to record high CAGRs of 6.5%, 7.4%, and 5.8%, respectively, through 2034.
| Countries | Market Value Share in Globe (2024) |
|---|---|
| United States | 4.3% |
| United Kingdom | 2.5% |
| China | 6.5% |
| India | 7.4% |
| Australia | 5.8% |
The United States food service equipment Sales are projected to have a CAGR of 4.3% by 2034, driven by several key factors. As more restaurants and food establishments are looking to modernize and expand their operations. There is a growing trend towards eco-friendly equipment and utensils, reflecting the increasing consumer preference for sustainability.
According to the Green Restaurant Association, a number of restaurants in the USA are already adopting environmentally friendly packaging and practices, further fueling demand for sustainable food service equipment.
Moreover, government initiatives affecting the tourism and immigration sectors are expected to stimulate the hotel industry, which in turn will drive higher adoption rates of advanced food service equipment across the country.
Another contributing factor to the industry's growth is the rising popularity of off-premise or home delivery services, which necessitates specialized equipment to handle the increased volume and efficiency required for such operations. Together, these factors are set to propel significant growth in the USA food service equipment market over the coming years.
The UK's Grab 'n Go market is experiencing rapid growth, driven by demand for fast, trendy, ready-to-eat food across high streets, airports, malls, and more. Companies has responding to this grab and go trend by developing specialized food service equipment which meets the unique needs of this sector.
Essential tools like fryers, convection ovens, and high-speed ovens are crucial for these fast-paced environments. Modern trends are pushing towards energy-efficient, easy-to-operate equipment that enhances kitchen capabilities. With a focus on flexibility, reliability, and performance, Company like Falcon’s has designed its product portfolio to support the evolving demands of Grab 'n Go operations.
China's food service equipment market is expected to surge at a CAGR of 6.5% by 2034. In China, the food service industry is increasingly embracing compact and efficient kitchen solutions as urbanization leads to smaller spaces and rising costs.
Ventless cooking equipments are becoming a key growth driver as they are offering flexibility in kitchen design and allowing operators to maximize space in tight environments. This equipment can be installed outside traditional kitchen hoods, enabling businesses to reduce costs associated with building, rent, and overhead while improving efficiency and workflow.
The adaptability for the ventless solutions aligns well with the needs of China's rapidly evolving food service sector.
The below section shows the cooking equipment segment dominated by equipment type. It is predicted to hold a market share of 43.3% in 2024. Based on the end-use industry, the hotel segment is anticipated to generate a dominant share through 2024. It is set to hold a share of 20.3% in 2024.
| Segment | Market Share (2024) |
|---|---|
| Cooking Equipment (Equipment Type) | 43.3% |
| Hotels (End-use Industry) | 20.3% |
Based on equipment type, demand for cooking equipment during the assessment period is expected to remain high. With a market share of 43.3%, the cooking equipment segment is projected to reach a valuation of USD 19,500.1 million in 2034. The increasing demand for versatile and efficient cooking equipment is a key driver of growth in the food service equipment market.
Combination ovens, capable of baking, steaming, and grilling within a single unit, are becoming essential for modern kitchens due to their ability to streamline operations and maximize space. Induction cooking equipment is also gaining popularity for its precision, speed, and energy efficiency, offering quick heating and cooling, precise temperature control, and a safer cooking environment.
With space constraints prevalent in many commercial kitchens, there is a growing preference for compact, space-saving cooking equipment that does not compromise functionality. Manufacturers are focusing on delivering appliances like grills, pressure fryers, combi-speed ovens, and convection ovens that are not only efficient but also fit within limited kitchen spaces.
These innovations cater to the need for versatile, high-performance equipment, driving the market forward as businesses seek to optimize their kitchen layouts and operations.
The hotel segment is anticipated to thrive at a 6.9% CAGR during the projection period. The emergence of digital dining trends is expected to drive the hotel segment in the market. Sales of food service equipment in hotels are expected to remain robust, driven by the continuous demand for high-quality, efficient kitchen solutions in the hospitality industry.
Hotels require a diverse range of cooking equipment to meet the needs of various dining services, from room service to large-scale banquets. The Focus on providing top-tier dining experiences necessitates the use of advanced equipment like combination ovens, high-speed ovens, and induction cooktops that offer precision, speed, and energy efficiency.
The growing trend of in-house dining and the need that accommodate diverse culinary preferences are pushing hotels to invest in versatile and durable kitchen equipment. This ensures if they can deliver consistent, high-quality meals while optimizing kitchen operations.
As a result, hotels continue to be a significant market for food service equipment, with sustained high sales reflecting the sector’s commitment to enhancing guest experiences through superior culinary offerings.
The competitive landscape of the food service equipment market is marked by the presence of both established global players and innovative regional companies. Key players like Electrolux Professional, Middleby Corporation, and Dover Corporation continue to dominate the market by expanding their product portfolios and integrating advanced technologies such as IoT and AI into their offerings.
Companies are increasingly focusing on sustainability, introducing eco-friendly and energy-efficient equipment to meet rising consumer demands. Strategic partnerships, mergers, and acquisitions are common as firms seek to strengthen their market position and broaden their global reach. Regional manufacturers are also gaining traction by catering to specific local needs and offering customized solutions.
For instance
The market is set to reach USD 45,449.7 million in 2024.
Demand for food service equipment is slated to expand at a 5.6% CAGR by 2034.
The market is set to reach USD 82,099.3 million in 2034.
Rational AG, LG Electronics, and Robert Bosch are the key players.
The hotel segment is estimated to hold a market share of 20.3% in 2024.
1. Executive Summary 2. Industry Introduction, Including Taxonomy and Market Definition 3. Market Trends and Success Factors, Including Macro-Economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034 6.1. Equipment Type 6.2. End Use Industry 6.3. Sales Channel 6.4. Region 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Equipment Type 7.1. Food Preparation Equipment 7.1.1. Slicers and Peelers 7.1.2. Mixers and Grinders 7.1.3. Food Blenders 7.1.4. Chopper (Fry Cutters, Specialty Choppers) 7.1.5. Dough Sheeters 7.1.6. Bread Slicers 7.1.7. Food Grater 7.1.8. Dryers/Dehydrators 7.2. Drink Preparation Equipment 7.2.1. Drink Blenders 7.2.2. Juicers 7.2.3. Ice Crushers 7.2.4. Ice Maker 7.2.5. Carbonator 7.3. Cooking Equipment 7.3.1. Grills 7.3.2. Fryers 7.3.3. Ovens 7.3.4. Toasters 7.3.5. Others 7.4. Heating and Holding Equipment/ Buffet Service Equipment 7.4.1. Warmers 7.4.2. Merchandisers 7.4.3. Sauce Dispensers 7.4.4. Trays 7.5. Table Tops 7.6. Food Safety and Sanitation Equipment 7.7. Dishwashers 7.8. Refrigerators and Chillers 7.9. Baking Equipment 7.10. Storage and Shelving Equipment 7.11. Food Packaging and Wrapping Equipment 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by End Use Industry 8.1. Hotels 8.2. Fine Dine Restaurants 8.3. Casual Dining Restaurants 8.4. Fast Food and Quick Service Restaurants 8.5. Cafeteria 8.6. Institutional Canteens and Catering 8.7. Bakery 8.8. Commercial Kitchens 8.9. Travel Retail Services (Airways, Ships, Railways) 9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Sales Channel 9.1. Online 9.2. Offline 9.2.1. Hypermarket / Supermarket 9.2.2. Multi-brand Outlets 9.2.3. Specialty / Company Outlets 10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Region 10.1. North America 10.2. Latin America 10.3. Western Europe 10.4. Eastern Europe 10.5. East Asia 10.6. South Asia and Pacific 10.7. Middle East and Africa 11. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 12. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 13. Western Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 14. Eastern Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 15. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 16. South Asia & Pacific Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 17. Middle East and Africa Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries 18. Sales Forecast 2024 to 2034 by Sales Channel, Equipment Type, and Micronutrient for 30 Countries 19. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 20. Company Profile 20.1. Dover Corporation 20.2. Middleby Corporation 20.3. Duke Manufactures 20.4. Meiko 20.5. Tupperware Hobart Corporation 20.6. Ali Group SpA 20.7. Panasonic Corporation 20.8. Welbit 20.9. 3M 20.10. Rational AG 20.11. LG Electronics 20.12. Robert Bosch 20.13. Samsung Electronics 20.14. ACP Solution Inc. 20.15. Philips Electronics 20.16. Selecta 20.17. Haier Inc. 20.18. Illinois Tool Works 20.19. Electrolux Professional
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Food Service Equipment Market
