Global Food Service Equipment Market was valued US$ 32.85 Bn in 2019 and is expected to reach US$ 52.87 Bn by 2027, at a CAGR of around 6.13 % during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
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Global Food Service Equipment Market Dynamics:
One of the most popular trends in the food service industry nowadays is grab-and-go or takeaway food. Consumers are progressively preferring food service equipment to add suitability to manage with a fast-paced lifestyle. This alternative over conventional restaurants offers a higher and faster food convenience level. A rising trend of takeaway food among consumers in developed as well as developing countries is predicted to strengthen the food service equipment market in fast-casual restaurant settings.
Furthermore, free Wi-Fi, online food ordering facility, digital menu boards and tables, and many more technological additions are being incorporated in the food service equipment market. Serving the generation Z consumers is the new challenge for the food service equipment industry, using customized food service equipment is a rising trend in the food service equipment market. However, high capital investment is the major restraint that could hamper the growth of the market.
According to the end-user, Full-service restaurant is projected to be the largest revenue generating segment over the forecast period. However, the market for the quick service is anticipated to expand at the highest CAGR of XX % from 2019 to 2027. In modern quick service restaurants, fast food is prepared with greatly processed methods in bulk with standardized cooking procedures. This factor is predicted to drive the demand for cooking equipment in fast food services.
Global Food Service Equipment Market Regional Analysis:
Globally, North America accounted for the biggest share in 2019. Factors such as the wide adoption of technologically advanced products and high penetration of products have improved the growth in the region. It is followed by Asia-Pacific, which is anticipated to be the fastest growing region throughout the forecast period. The thriving tourism industry and huge dining out options for consumers are projected to propel the market growth in the region.
The report for global food service equipment market includes of wide primary research together with the detailed analysis of qualitative as well as quantitative aspects by several industry experts, main opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear image of current market scenario which contains historical and projected market size in terms of value, technological advancement, macro economical and governing factors in the market. The report delivers details information and strategies of the top key players in the industry. The report also gives a comprehensive study of the different market segments and regions.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global food service equipment market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in global food service equipment market.
Global Food Service Equipment Market, Key Highlights:
• Global Food Service Equipment Market analysis and forecast, in terms of value.
• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Food Service Equipment Market
• Global Food Service Equipment Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
• Global Food Service Equipment Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.
• Global Food Service Equipment Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Food Service Equipment Market are also profiled.
The report has considered the base year of 2019 and past four years trend. 2020 figures are at actuals, however due to different dynamics of year 2020, market forecast is not only dependent upon 2020, but on the basis of 2016-2020.
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Scope of Global Food Service Equipment Market: Inquire before buying
Global Food Service Equipment Market, by Product
• Cooking Equipment
• Storage & Handling Equipment
• Warewashing Equipment
• Food & Beverage Preparation Equipment
• Serving Equipment
Global Food Service Equipment Market, by End use
• Full-service Restaurants & Hotels
• Quick-service Restaurants & Pubs
• Caterings
Global Food Service Equipment Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Global Food Service Equipment Market, Key Players
• Alto-Shaam, Inc.
• Cambro Manufacturing Co. Inc.
• Castle Stove
• Duke Manufacturing Co. Inc.
• Dover Corporation
• Electrolux
• Illinois Tool Works Inc.
• Ali S.p.A
• Middleby Corporation
• Welbilt, Inc.
• Standex International Corporation
• Hoshizaki America, Inc.
• FUJIMAK CORPORATION
• ITW FOOD EQUIPMENT
• The Vollrath Company, LLC
• Haier Inc.
• Smeg S.p.A.
• AB Electrolux
• Comstock-Castle Stove Co., Inc.
• Manitowoc Foodservice
• Parth Kitchen Equipments
• Berjaya Steel Product Sdn. Bhd
• Shreemanek
• Bharti Refrigeration Works
• MJD Industries Inc
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