What Has Been the Progress and Growth of the Restaurant Equipment Market in Recent Years?
The restaurant equipment market has seen considerable growth due to a variety of factors.
• The restaurant equipment market has experienced strong growth in recent years. It will increase from $3.88 billion in 2024 to $4.2 billion in 2025, at a compound annual growth rate (CAGR) of 8.3%.
The market’s growth is attributed to the demand for specialized equipment, shifts toward healthier eating habits, diverse cuisines, a growing preference for quicker service, investments in restaurant infrastructure, and equipment upgrades.
How Does the Forecast Look for the Restaurant Equipment Market?
The restaurant equipment market is expected to maintain its strong growth trajectory in upcoming years.
• The restaurant equipment market is projected to grow to $5.72 billion by 2029 at a CAGR of 8.0%.
This growth is driven by food safety and hygiene standards, energy efficiency regulations, urbanization, the influence of international cuisines, and university dining services. Key trends include the increasing adoption of smart kitchen appliances, automation and robotics in kitchens, equipment for online and mobile ordering, demand for modular and customizable solutions, and the integration of data analytics and IoT.
What Are The Leading Drivers Of Growth In The Restaurant Equipment Market?
The rising preference for prepared meals is anticipated to spur the expansion of the restaurant equipment market in the future. These ready-to-eat meals are entirely cooked, processed, and packaged in such a way that they can simply be eaten without further cooking or preparation. The surge in demand for these meals can be attributed to several factors such as convenience, hectic lifestyles, time efficiency, and urbanization. Restaurant equipment plays a crucial role in the efficient preparation, cooking, and packaging of these meals, ensuring top-notch, handy food products. For instance, the Bank of Ayudhya Public Company Limited, a renowned commercial banking company in Thailand reported in March 2024, that Thailand's domestic market for ready-to-eat food is projected to rise 3.0-4.0% yearly from 2024 to 2026. Furthermore, in 2022, the ready-to-eat food sector had total domestic and export sales volume standing at 482.4 thousand tons, valued at USD 2.0 billion. Consequently, the escalating demand for prepared meals is fuelling the progress of the restaurant equipment market.
How Are The Segments Defined Within The Global 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 Emerging Market Trends Are Altering The Restaurant Equipment Industry?
Firms that dominate the restaurant equipment market are prioritizing the creation of innovative items like state-of-the-art combi ovens to improve cooking efficacy and adaptability. These next-gen combi ovens are high-tech kitchen tools that integrate steam and conventional cooking techniques for increased precision, versatility, and efficiency. For example, UNOX Inc., a United States-based manufacturer of food machinery, introduced its X-Generation of cutting-edge combi ovens in November 2023, focusing on transforming the food service sector. These ovens incorporate the latest technology to boost cooking speed, consistency, and energy efficiency, along with intelligent climate management and adaptability to the amount of food loaded. The design of the X-Generation ovens is contemporary and sleek with an emphasis on verticality and symmetry, and they are made from robust, high-quality materials. Moreover, the ovens come with a new Digital.ID operating system for effortless interaction and control.
Who Are the Key Players In The Restaurant Equipment Market?
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
What Is The Most Dominant Region In 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.
