“According to a market report by Lucintel, the future of the global food service equipment market looks promising with opportunities in the full service restaurant, quick service restaurant, and institutional markets. The global food service equipment market is expected to reach an estimated $71.7 billion by 2030 with a CAGR of 6.0% from 2024 to 2030. The major drivers for this market are significantly growing hospitality sevtor, changing food consumption patterns, and rising demand for takeways across the globe.
A more than 150 – page report is developed to understand Trends, opportunity and forecast in food service equipment to 2030 by product (kitchen purpose equipment, refrigeration equipment, ware washing equipment, food holding & storing equipment, and others), end use industry (full service restaurant, quick service restaurant, institutional, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)In this market, kitchen purpose equipment, refrigeration equipment, ware washing equipment, and food holding & storing equipment are the major segments of food service equipment market by product. Lucintel forecast that kitchen purpose equipment will remain the largest segment over the forecast period due to growing demand of preparing meals appliances in the open food service kitchens.
Within this market, fullfull-service service restaurant will remain the largest segment due to the subsequent change in the dining habits for both formal events and social events during travel and tourism activities has resulted in an increase in the number of people visiting full service restaurants in recent years..
Europe is expected to witness highest growth over the forecast period due to growing trend of automation in restaurants and increasing acceptance of technology-based food service equipments in the region.
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 the major suppliers in the food service equipment market.
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