Press release
Accelerating Global Food Service Equipment Market: Key Players, Trends & Growth Forecast (CAGR 7.3%) till 2029
Food Service Equipment Market
What Is The Projected Market Size Of The Global Food Service Equipment Market And Its Growth Rate?
o Strong market growth has been experienced, surging from $38.98 billion in 2024 to $41.45 billion in 2025 at a CAGR of 6.3%, primarily due to expansion in the foodservice industry, growing popularity of dining out and increased demand for energy efficiency.
o The market is anticipated to continue this strong growth trajectory towards $54.92 billion in 2029 at a CAGR of 7.3% fueled by adoption of smart kitchen appliances, unique culinary concepts and advanced culinary techniques.
What Is Driving The Growth In The Food Service Equipment Market?
The dramatic growth of the online food service sector is a considerable driver for the food service equipment market. With the pandemic pushing more people towards online ordering, there's been a surge in demand for food service equipment. Reports from firms like Deloitte and Google/ BCG indicate a robust growth forecast for the sector, thereby driving the need for more food service equipment.
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Who Are the Key Players Driving Food Service Equipment Market Growth?
Major players in the food service equipment market encompass:
o AB Electrolux
o Ali Group Srl a Socio Unico
o Dover Corporation
o Duke Manufacturing
o Haier Group Corporation
o Smeg S.p.A.
o The Middleby Corporation
What Are The Key Trends In The Food Service Equipment Market?
The food service equipment market is being transformed by:
o Modular and customizable kitchen solutions
o Energy-efficient and eco-friendly appliances
o Advanced cooking techniques
o High-speed cooking and oven technologies
o Smart kitchen management systems
What Are The Segments Of The Global Food Service Equipment Market?
o Equipment: Food Preparation Equipment, Drink Preparation Equipment, Heating And Holding Equipment
o Distribution Channel: Online, Offline
o End-User: Full Service Restaurant, Quick Service Restaurant, Institutional
Which Region Leads The Food Service Equipment Market?
Asia-Pacific dominated the food service equipment market in 2024, with North America expected to register the fastest growth during the forecast period. Other important regions include Western Europe, Eastern Europe, South America, Middle East and Africa.
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What Is Covered In The Food Service Equipment Market Global Market Report?
- Market Size Analysis
- Market Segmentation Analysis
- Key Player Focus
- Growth Trends Analysis
- Market Contribution
- Growth Drivers
- Industry Challenges
- Competitive Developments
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