Foodservice Equipment Market size was valued at USD 47.9 Billion in 2024 and is projected to reach USD 74.7 Billion by 2033, exhibiting a CAGR of 5.5% from 2026 to 2033.
The global foodservice equipment market was valued at USD 42.6 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 6.4% from 2023 to 2030. The market is driven by the increasing demand for advanced kitchen appliances, such as commercial cooking equipment, refrigeration systems, and dishwashing equipment. Growing investments in foodservice industries, particularly in quick service restaurants (QSRs), is further propelling the demand for foodservice equipment. In terms of regional markets, North America accounted for the largest share of the foodservice equipment market in 2022, valued at approximately USD 17.2 billion. This is due to the rising number of foodservice establishments and technological advancements in kitchen equipment in the region. The Asia Pacific region is expected to witness the highest growth during the forecast period, with an anticipated CAGR of 7.2%, owing to the increasing adoption of western dining trends and rapid urbanization in countries like China and India.
Europe held a significant market share of about USD 11.5 billion in 2022 and is projected to maintain steady growth driven by demand for energy efficient and eco friendly kitchen solutions. Latin America and the Middle East & Africa are also witnessing growing adoption of foodservice equipment due to the expansion of the hospitality sector and the increasing demand for restaurant chains. Latin America’s market is expected to grow at a CAGR of 5.9%, whereas the Middle East & Africa market is anticipated to expand at a CAGR of 6.7% during the forecast period. Key opportunities lie in the growing trend of automation, digitalization in the kitchen, and the rising focus on sustainability, which will open new avenues for the foodservice equipment market across regions.
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Haier
Midea
Fotile
Joyoung
ROBAM
SUPOR
Vatti
Electrolux
HIONE
BSH
Illinois Tool Works
Bear
Welbilt
Middleby Corporation
Gree
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Foodservice Equipment Market
Cooking Equipment
Storage & Handling Equipment
Food Preparation Equipment
Cleaning & Sanitation Equipment
Foodservice Furniture
Serving Equipment
Refrigeration Equipment
Restaurants
Hotels
Caterers
Institutional Kitchens
Quick Service Restaurants (QSR)
Retail Stores
Automated Equipment
Manual Equipment
Semi-Automated Equipment
Heavy Duty Equipment
Light Duty Equipment
Modular Equipment
Customized Equipment
Electric Equipment
Gas Equipment
Hybrid Equipment
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Foodservice Equipment Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Foodservice Equipment Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Foodservice Equipment Market, By Type
6. Global Foodservice Equipment Market, By Application
7. Global Foodservice Equipment Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Foodservice Equipment Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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