Food Service Equipment Market to reach $63.2 billion by 2024 with the CAGR of 5.6%

Food Service Equipment Market is estimated to reach $63.2 billion by 2024 with the CAGR of 5.6% between 2016 and 2024. Food service equipment is mainly designed for the commercial food and beverages industry. People are now day becoming foodie and prefer clean, hygienic and nutritious food. This has led to a great transformation in the foodservice equipment industry. Restaurant owners are trying to incorporate innovative equipment to meet the ever growing demand for food. Moreover, increasing menu diversity has also led to redesign of equipment that make smaller-batch food. Space saving equipment designed especially for the food trucks in on rise. As display cooking in on popularity, more compact, smartphone or ipad based apps to control equipment is also on rise.

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Growing digitalization and development of advanced products with internet connectivity is expected to drive the food service equipment market. Moreover, increasing hotels, restaurants, food joints and increasing awareness of energy consumption is also expected to boost the growth of the market. However, high cost of equipment and high maintenance cost may hinder the growth of the market. Untapped markets in emerging economies could provide opportunity in upcoming years.

The food service equipment market is segmented based on the type, washware equipment and geography. By type is further segmented into kitchen purpose, refrigerator, storage, ware washing, food holding & serving and others. Furthermore, washware equipment is segmented into booster heaters, dish washers, disposers, utensil washer and others.

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By geography the market is segmented into North America, Europe, Asia-Pacific and rest of the world (RoW). The U.S., Mexico and Canada are covered under North America wherein Europe covers United Kingdom, Germany, Russia and others. Asia-Pacific covers China, India, Japan, and others. Rest of the world (RoW) covers South America, Middle East and Africa.

Key market players include Tupperware Brands Corporation, Dover Corporation, Welbilt Inc., Ali S.p.A, Middleby Corporation, Hoshizaki Electric Co. Ltd., Middleby Corporation, Libbey Inc., Ali Group and Cambro Manufacturing Company, Inc.

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The key takeaways from the report
The report will provide detailed analysis of Food Service Equipment Market with respect to major segments such as type and washware equipment of the market.
The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024.
Comprehensive analysis of market dynamics including factors and opportunities.
An exhaustive regional analysis of Food Service Equipment market.
Profile of key players of the Food Service Equipment market, which include key financials, product & services and new developments.

Scope of Food Service Equipment Market
Type Segments
Kitchen Purpose
Refrigerator
Storage
Ware Washing
Food Holding & Serving
Others

Washware Equipment Segments
Booster Heaters
Dish Washers
Disposers
Utensil Washer

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