2025-2034 Food Service Equipment Market Evolution: Disruptions, Innovations, and Untapped Opportunities

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What Is the Expected CAGR for the Food Service Equipment Market Through 2025?
In the past few years, there has been a robust expansion in the food service equipment market size. The market is projected to escalate from $38.98 billion in 2024 to $40.98 billion in 2025, marking a compound annual growth rate (CAGR) of 5.1%. The historical growth period witnessed this expansion on account of factors such as the burgeoning foodservice and hospitality industry, the rise of quick service and fast casual eateries, the increasing demand for commercial kitchen efficiency, a surge in customer inclination towards dining out and takeout options, and the emphasis on sustainability and energy efficiency within commercial kitchen scopes.

What's the Projected Size of the Global Food Service Equipment Market by 2029?
The market size of the food service equipment is forecasted to experience significant growth in the upcoming years. It is projected to expand to $51.85 billion by 2029, with a compound annual growth rate (CAGR) of 6.1%. Several factors fueling this growth in the projected period include the uptake of smart and Internet of Things (IoT) integrated kitchen appliances, uniquely tailored equipment for distinct gastronomic ideas, inclusion of touchless and contactless technology in food service, preference for miniaturized and space-friendly kitchen equipment, and investment in R&D for the future of food service equipment. Key trends that will be seen during the forecast period incorporate adaptable and customizable kitchen solutions, power conserving and environmentally friendly appliances, progressive cooking techniques and sous vide apparatus, rapid speed cooking and oven technology, smart kitchen administration systems, and the use of augmented reality (AR) and virtual reality (VR) in culinary education.

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Top Growth Drivers in the Food Service Equipment Industry: What's Accelerating the Market?
The expansion of the food service equipment market is being significantly propelled by the rise in the online food service industry. The online food service sector is seeing growth due to factors such as ease of use, accessibility to everyone, increasing choices, affordable pricing, and more. More specifically, during the COVID-19 outbreak, as individuals were required to adhere to social distancing and safety measures, there was an increase in online ordering to minimize physical contact. This consequently led to a greater need for food service equipment to meet market demand, driving up demand for such equipment. According to a study by the esteemed management consulting firm Deloitte, we can anticipate the online food delivery industry to increase by more than 10% annually, reaching roughly $25 billion across Europe by 2023, primarily because of faster, handier alternatives linked to increasing incomes. Similarly, a joint study by Google and the Boston Consulting Group (BCG), predicts that by the end of 2022, the worth of the Indian online food market will hit $8 billion receiving an approximate annual growth of 25-30%. Therefore, with the expansion of the online foodservice industry, the market for food service equipment is set to rise.

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What Are the Key Trends Driving Food Service Equipment Market Growth?
The progression in technology is a primary trend gaining traction in the market for food service equipment. The market is noticing the application of cutting-edge technologies such as automation, virtual control systems, sensory systems, robots, fusion tech machinery and more to aid in the effective functioning of food service equipment. Companies dominating the foodservice equipment market are placing emphasis on delivering high-tech equipment to fortify their market stance. For instance, in August 2024, Shin Star Presents, a fledgling company based in US's Bay Area that's centered on avant-garde food technology, unveiled the first of its kind robotic mobile kitchen. This kitchen, which operates unmanned, is capable of cooking an entire meal while in transit for delivery. Just like a factory machine, the kitchen autonomously cooks and prepares food during delivery. It uses a robotic cooking system called 'auto-woks' which stir-fry fresh ingredients prepped off-site each day. Additionally, it is linked with an application called Ohlso, which allows users to initiate cooking and supervise the preparation process remotely.

What Are the Main Segments in the Food Service Equipment Market?
The food service equipmentmarket covered in this report is segmented -

1) By Equipment: Food Preparation Equipment, Drink Preparation Equipment, Heating And Holding Equipment, Cooking Equipment, Refrigerators And Chillers, Baking Equipment, Merchandisers, Ware Washing Equipment, Other F&B Service Equipment
2) By Distribution Channel: Online, Offline
3) By End-User: Full Service Restaurant, Quick Service Restaurant, Institutional, Other End-Users

Subsegments:
1) By Food Preparation Equipment: Food Processors, Mixers, Slicers And Cutters, Grinders
2) By Drink Preparation Equipment: Blenders, Coffee Makers, Juicers, Beverage Dispenser
3) By Heating and Holding Equipment: Warmers, Hot Holding Cabinets, Food Heat Lamps
4) By Cooking Equipment: Ovens, Grills and Griddles, Fryers, Steamers
5) By Refrigerators and Chillers: Walk-In Coolers, Display Refrigerators, Under-Counter Refrigerators
6) By Baking Equipment: Commercial Ovens, Proofing Cabinets, Dough Mixers
7) By Merchandisers: Display Cases, Salad Bars, Hot Food Merchandisers
8) By Ware Washing Equipment: Dishwashers, Glass Washers, Pot And Pan Washers
9) By Other F&B Service Equipment: Food Trucks, Trolleys And Carts, Catering Equipment

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Which Top Companies are Driving Growth in the Food Service Equipment Market?
Major companies operating in the food service equipment market include AB Electrolux, Ali Group Srl a Socio Unico, Dover Corporation, Duke Manufacturing, Haier Group Corporation, Smeg S.p.A., The Middleby Corporation, Meiko Maschinenbau GmbH & Co. KG, Hoshizaki Electric Co. Ltd., Fujimak Corporation, Tupperware Brands Corporation, Hobart Corporation, Manitowoc Company Inc., Alto-Shaam Inc., Cambro Manufacturing Co. Inc., Comstock-Castle Stove Co. Inc., Welbilt Inc., ITW Food Equipment Group, Standex International Corporation, The Vollrath Company LLC, The Vollrath Company, Rational AG, Hatco Corporation, Ice-O-Matic, Bunn-O-Matic Corporation, Grindmaster-Cecilware, Waring Commercial Inc., Robot Coupe USA Inc.

Which Regions Will Dominate the Food Service Equipment Market Through 2029?
Asia-Pacific was the largest region in the food service equipment market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the food service equipment market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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