The commercial foodservice equipment market has seen strong growth, increasing from $31.25 billion in 2023 to $33.28 billion in 2024, with a compound annual growth rate (CAGR) of 6.5%. This growth is attributed to the rising demand for quick-service restaurants, expansion in the food and beverage industry, increased interest in healthier and gourmet food options, regulatory standards, and the need for equipment that supports food packaging and transportation. The market is expected to continue its strong growth, reaching $42.95 billion by 2028, with a CAGR of 6.6%. Growth drivers include increasing urban populations, heightened awareness of food safety and hygiene, expansion of global food chains, growing popularity of delivery and takeout services, and rising investment in culinary education and training facilities. Major trends anticipated include the adoption of advanced technologies, integration of digital ordering and payment systems, remote monitoring and management, compact and space-saving designs, and robotic and automated solutions.
Global Commercial Foodservice Equipment Market Key Driver
The ongoing expansion of quick-service and fast-casual restaurants is expected to propel the growth of the commercial foodservice equipment market going forward. Quick-service restaurants (QSRs) and fast-casual restaurants are experiencing growth due to increasing consumer demand for convenient, high-quality, and affordable dining options. Commercial foodservice equipment in these establishments is essential for efficient food preparation, enhanced operational efficiency, and maintaining high standards of food quality and safety. According to a report published by Aviko in June 2023, the fast food industry in the UK grew from $26.57 million (£20.61 billion) in 2022 to $28.41 million (£22.04 billion) in 2023, with 45% of UK consumers dining at fast food establishments by mid-2023. Therefore, the expansion of quick-service and fast-casual restaurants is driving the growth of the commercial foodservice equipment market.
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Global Commercial Foodservice Equipment Market Segments
The commercial foodservice equipment market covered in this report is segmented –
1) By Type: Baking Equipment, Cooking Equipment, Ware Washing Equipment, Preparation Equipment, Holding And Storing Equipment, Beverage Equipment, Ice, Refrigeration
2) By Distribution: Offline, Online
3) By End-User: Food Production Facilities, Foodservice Outlets
By Geography:The regions covered in the commercial foodservice equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the commercial foodservice equipment market in 2023.
Major Commercial Foodservice Equipment Industry Players
Libbey Inc., Cambro Manufacturing Co, The Vollrath Company LLC, Tundra Restaurant Supply, Provisur Technologies Inc., Broaster Company, Blodgett Oven Company, Hatco Corporation, Falcon Foodservice Equipment ltd, Chefs'Toys, Victory Refrigeration, Energy Star, AMTek Microwaves, Adexa Direct, Riddhi Display Equipments Pvt Ltd, TAG Catering Equipment UK Ltd, Bakers Pride, Kitchenrama, Hobart Food Equipment, Roundstone Catering Equipment Ltd, Cater-kwik Ltd, Target Catering Equipment, Canadian Restaurant Supply, Permul Ltd
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Commercial Foodservice Equipment Market Overview
Commercial foodservice equipment encompasses the machinery and tools used in professional kitchens and food preparation areas. These items are designed to handle high volumes of food efficiently and ensure food safety and quality. It includes both heavy-duty equipment and smaller, specialized tools tailored to the needs of restaurants, hotels, and catering services.
Commercial Foodservice Equipment Global Market Report 2023 provides data on the global commercial foodservice equipment market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The commercial foodservice equipment market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
