The global food service equipment market size was valued at USD 34.68 billion in 2020. It is expected to expand at a compound annual growth rate (CAGR) of 5.5% from 2021 to 2028. Changing food consumption patterns, increased demand for takeaways, and the expanding hospitality sector are some of the key factors driving the market. Furthermore, factors such as increasing digitalization, the need for sustainable and eco-friendly equipment, and stringent consumer safety norms are expected to create promising growth opportunities for the market in near future.
The demand has significantly increased in response to the emergence of several casual restaurant chains in North America and Europe. Companies are mandated to sell certified and tested commercial kitchen appliances according to the safety rules laid by several regulatory bodies worldwide. These safety standards aim to create a guarded environment for both the restaurant operators and consumers. National Sanitation Foundation (NSF), an American product testing, inspection and certification non-profit organization, has developed several equipment safety standards to ensure food safety requirements and sanitation protocols to be maintained by the end-use sector. With food safety being the utmost priority, standards have been set for the material used, design, and equipment architecture.
Top Key Players studied in Food Service Equipment Market:
· AB Electrolux
· Ali Group S.r.l. a Socio Unico
· Dover Corporation
· Duke Manufacturing
· Haier Group
· SMEG S.p.A.
· The Middleby Corporation
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Global Food Service Equipment Market Segmented by Product:
· Kitchen Purpose Equipment
· Refrigeration Equipment
· Ware Washing Equipment
· Food Holding & Storing Equipment
· Others
Global Food Service Equipment Market Segmented by Region:
North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain etc.), Asia-Pacific (China; India; Japan; Southeast Asia etc.), South America (Brazil; Argentina etc.), Middle East & Africa (Saudi Arabia; South Africa etc.)
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The rising deployment of sustainable technology equipment has compelled key players to focus on business strategies such as collaborations, mergers, and acquisitions beneficial for their businesses. Key manufacturers are collaborating with solution providers to build customer-centric equipment addressing food wastage by grocery stores, hypermarkets, and supermarkets. For instance, in 2018, AB Electrolux collaborated with Karmalicious AB, a Sweden-based startup that builds food rescue applications. This collaboration was aimed at introducing a new technologically-advanced refrigerator for grocery stores to minimize food wastage. In 2019, Daikin Industries, Ltd.
Research Objectives:
• To study and analyze the Food Service Equipment Market size by product type, application and key regions/countries history data from 2016 to 2020, and forecast to 2028.
• To understand the structure of the Food Service Equipment Market by identifying its various sub-segments.
• Focuses on the Food Service Equipment Market players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
• To analyze the Food Service Equipment Market with respect to individual growth trends, future prospects, and their contribution to the total market.
• To share detailed information about the key factors influencing the growth of the market.
• To project the size of Food Service Equipment Market, with respect to key regions.
• To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
Good Reasons to Buy a Global Food Service Equipment Market Report:
- Offers detailed market breakdown and data triangulation that will help guide the market trends.
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· Pinpoints the most valued region and how the market can be expanded in the industry to generate more revenue with all the important government guidelines and environmental policies.
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They are very important part of the food industry as they help them to prepare different food items.
They are widely used in hotels, restaurants, caterers among others.Global food service equipment market is set to witness a substantial CAGR of 5.7% in the forecast period of 2019- 2026.
Growing demand for energy-efficient and cost-effective products and increasing demand for ready to eat foods are the factor for the market growth Get Sample Report at : https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-food-service-equipment-marketCompetitive Analysis: Global Food Service Equipment MarketFew of the major competitors currently working in the global food service equipment market are Electrolux; Ali Group S.r.l.
a Socio Unico; Dover Corporation; Duke Manufacturing, FUJIMAK CORPORATION., Haier lnc., ITW FOOD EQUIPMENT GROUP, The Middleby Corporation, Manitowoc Foodservice, Smeg, The Vollrath Company, LLC., Buildit, Kitchenrama, Parth Kitchen Equipments, Berjaya Steel Product Sdn.
Bhd, Shreemanek, Vulcan, Bharti Refrigeration Works, MJD Industries Inc among others.
Key Pointers Covered in the Global Food Service Equipment Market Trends and Forecast to 2026Global Food Service Equipment Market New Sales VolumesGlobal Food Service Equipment Market Replacement Sales VolumesGlobal Food Service Equipment Market Installed BaseGlobal Food Service Equipment Market By BrandsGlobal Food Service Equipment Market SizeGlobal Food Service Equipment Market Procedure VolumesGlobal Food Service Equipment Market Product Price AnalysisGlobal Food Service Equipment Market Healthcare OutcomesGlobal Food Service Equipment Market Cost of Care AnalysisGlobal Food Service Equipment Market Regulatory Framework and ChangesGlobal Food Service Equipment Market Prices and Reimbursement AnalysisGlobal Food Service Equipment Market Shares in Different RegionsRecent Developments for Global Food Service Equipment Market CompetitorsGlobal Food Service Equipment Market Upcoming ApplicationsGlobal Food Service Equipment Market Innovators StudyGet Detailed TOC:https://www.databridgemarketresearch.com/toc/?dbmr=global-food-service-equipment-market Key Developments in the Market:In May 2019, Edward Don & Company announced the acquisition of Myers Restaurant Supply.
