The restaurant equipment market has also shown considerable growth in recent years, expected to grow from $3.59 billion in 2023 to $3.88 billion in 2024, at a CAGR of 8.0%. This historic growth is attributed to a rising demand for specialized equipment, a shift towards healthier eating habits, diverse cuisines, quicker service, and investments in restaurant infrastructure. Over the next few years, this market is projected to reach $5.30 billion by 2028, growing at a CAGR of 8.1%. Factors contributing to this growth include increased food safety and hygiene standards, energy efficiency regulations, urbanization, the influence of international cuisines, and the expansion of university dining facilities. Key trends expected to impact the forecast period include a growing adoption of smart and connected kitchen appliances, the deployment of automation and robotics, demand for equipment that supports online and mobile ordering, and the integration of data analytics and the Internet of Things (IoT).
Global Restaurant Equipment Market Key Driver
The rising demand for ready-to-eat meals is expected to enhance the growth of the restaurant equipment market in the upcoming years. Ready-to-eat meals are fully cooked, prepared, and packaged food products that can be consumed without any further cooking or preparation. This demand is increasing for several reasons, including convenience, busy lifestyles, time efficiency, and urbanization. Restaurant equipment is essential for efficiently preparing, cooking, and packaging ready-to-eat meals, ensuring the delivery of high-quality, convenient food products. For instance, in March 2024, the Bank of Ayudhya Public Company Limited, a Thailand-based commercial banking institution, forecasted that the domestic market for Thai-made ready-to-eat food would grow by 3.0% to 4.0% annually from 2024 to 2026. Additionally, in 2022, the ready-to-eat food industry recorded a total domestic and export sales volume of 482.4 thousand tons, valued at USD 2.0 billion. Therefore, the increasing demand for ready-to-eat meals is driving the growth of the restaurant equipment market.
Get A Free Sample Of The Restaurant Equipment Market Report
Global Restaurant Equipment Market Segments
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
By Geography:The regions covered in the restaurant 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 restaurant equipment market in 2023.
Major Restaurant Equipment Industry Players
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
Purchase The Global Restaurant Equipment Market Report Directly And Get A Swift Delivery
Restaurant Equipment Market Overview
Restaurant equipment refers to the specialized tools, appliances, and machinery used in commercial kitchens and dining establishments to prepare, cook, store, and serve food and beverages to customers. These tools are essential for maintaining efficiency, consistency, and quality in food service operations.
Restaurant Equipment Global Market Report 2023 provides data on the global restaurant equipment market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The restaurant equipment market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
