Restaurant Equipment Market Set to Reach $5.72 Billion by 2029 with 8% Yearly Growth

What Is the Estimated Market Size and Growth Rate for the Restaurant Equipment Market?
The size of the restaurant equipment market has seen significant expansion in recent years. The market is projected to increase from a worth of $3.88 billion in 2024 to $4.2 billion in 2025, reflecting a compound annual growth rate (CAGR) of 8.3%. The historical growth can be traced back to increasing demands for specialized equipment, a shift towards healthier eating habits, a variety of cuisines, quick service requirements, investments in restaurant infrastructures, and equipment modernizations.

In the coming years, the market size for restaurant equipment is anticipated to witness robust growth. The market is projected to escalate to $5.72 billion in 2029, recording a compound annual growth rate (CAGR) of 8.0%. This predicted growth within the forecast period is linked to the standards of food safety and hygiene, regulations related to energy efficiency, urbanization, the impact of international cuisines, and university dining services. Key trends forecasted for this period involve rising adoption of interconnected smart kitchen appliances, usage of robotics and automation in kitchens, designs of equipment compatible with online and mobile orders, demand for customizable and modular equipment, as well as the incorporation of IoT (internet of things) and data analytics.

What Factors Are Propelling the Expansion of the Restaurant Equipment Market?
The escalating need for convenience foods is projected to fuel the expansion of the restaurant equipment market. Convenience foods are fully prepared, cooked, and packed, enabling them to be eaten without additional cooking or preparatory work. Their growing popularity stems from numerous factors like convenience, fast-paced lifestyles, time efficacy, and urbanization. Restaurant equipment plays a critical role in the efficient creation, cooking, and packing of convenience foods to deliver top-notch, easy-to-consume food items. For example, the Bank of Ayudhya Public Company Limited, a commercial banking company based in Thailand, reported in March 2024 that the domestic Thai convenience food market will likely expand by 3.0-4.0% annually from 2024 to 2026. Additionally, the convenience food industry in 2022 recorded total domestic and export sales of 482.4 thousand tons, equating to a value of USD 2.0 billion. Consequently, the rising appetite for convenience foods is propelling the restaurant equipment market's growth.

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Who Are the Dominant Companies Influencing Restaurant Equipment Market Trends?
Major companies operating in the restaurant equipment market are Libbey Incorporated, Cambro Manufacturing Co, The Vollrath Company, Hobart Food Equipment, Provisur Technologies Inc., Broaster Company, Blodgett Oven Company, Falcon Foodservice Equipment ltd, Victory Refrigeration, AMTek Microwaves, Adexa Direct, Riddhi Display Equipments Pvt Ltd, TAG Catering Equipment UK Ltd, Bakers Pride, Roundstone Catering Equipment Ltd, Cater-kwik Ltd, Target Catering Equipment, Canadian Restaurant Supply, Permul Ltd, Babak Food Equipment, Empura Equipment, Thomasnet, Apollo Kitchen Equipments and Services Pvt Ltd

How Is the Restaurant Equipment Market Evolving?
Top-tier companies within the restaurant equipment sector are shifting their focus towards creating novel products like the latest version of combi ovens in order to improve cooking capability and diversity. These high-tech combi ovens symbolize an upgrade in kitchen gear that utilizes both steam and convection cooking approaches for superior efficiency, precision, and adaptability. For instance, UNOX Inc., an American company specializing in the production of food machinery, introduced its ground-breaking X-Generation combi ovens in November 2023 with the ambition of transforming the food service sector. These ovens leverage cutting-edge technology to boost cooking pace, evenness, and energy efficiency, and are equipped with features like food-load sensitivity and smart climate management. The X-Generation ovens showcase a sleek, contemporary design themed on verticality and symmetry, and are built using sturdy, premium materials. Moreover, these ovens come with a novel Digital.ID operating system, facilitating effortless interaction and command.

What Are the Different Segmentations in the Restaurant Equipment Market?
The restaurant equipment market covered in this report is segmented -

1) By Type: Cooking Equipment, Restaurant Work Table, Food Holding And Warming, Food Preparation Equipment
2) By Distribution Channel: Online, Offline
3) By Application: Hotel, Fast Food Chain, Food Truck, Cart Or Stand, Cafe, Other Applications

Subsegments:
1) By Cooking Equipment: Ovens, Ranges and Cooktops, Grills, Fryers, Steamers
2) By Restaurant Work Table: Stainless Steel Work Tables, Prep Tables with Undershelves, Butcher Block Tables, Mobile Work Tables
3) By Food Holding and Warming: Heat Lamps, Warming Drawers, Steam Tables, Insulated Holding Cabinets
4) By Food Preparation Equipment: Mixers, Food Processors, Slicers, Dough Rollers and Sheeters

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Which Region Is at the Forefront of the Restaurant Equipment Market?
North America was the largest region in the restaurant equipment market in 2023. The regions covered in the restaurant equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is Covered In The Restaurant Equipment Global Market Report?

- Market Size Analysis: Analyze the Restaurant Equipment Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Restaurant Equipment Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Restaurant Equipment Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Restaurant Equipment Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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