Commercial Foodservice Equipment Market Size, Share, Growth, And Industry Analysis, By Type (Baking Equipment, Cooking Equipment, Ware Washing Equipment, Preparation Equipment, Holding & Storing Equipment, Beverage Equipment, Ice and Refrigeration), By Application (Full-Service Restaurant (FSR) and Quick Service Restaurant (QSR)), and Regional Forecast By 2032

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Commercial Foodservice Equipment Market Report Overview

The global commercial foodservice equipment market size was USD 35.08 billion in 2023 & the market is expected to reach USD 55.79 billion in 2032, exhibiting a CAGR of 5.29% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the commercial foodservice equipment market experiencing lower than anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Commercial foodservice equipment refers to specialized appliances and tools used in professional kitchens and foodservice establishments. It includes cooking equipment like ovens, grills, and fryers, as well as refrigeration equipment such as walk-in coolers and freezers. Other types of equipment include dishwashers, food preparation tools like mixers and slicers, beverage equipment, storage and shelving units, ventilation systems, and specialty equipment for specific culinary needs. Commercial foodservice equipment is designed to handle high-volume cooking, ensure food safety, and maintain efficiency in professional kitchen operations.

COVID-19 Impact: Reduced Demand and Business Closures Hamper the Market Growth

The COVID-19 pandemic had a significant impact on the commercial foodservice equipment industry. The widespread closures of restaurants, hotels, and other foodservice establishments during lockdowns resulted in a sharp decline in demand for commercial foodservice equipment. Many businesses faced financial difficulties and had to postpone or cancel equipment purchases, leading to decreased sales for equipment manufacturers.

Latest Trends

"Advances in Smart Technology Integration Will Boost Market Growth"

Energy efficiency has become a significant focus in the industry. Equipment manufacturers are developing energy-efficient appliances, including ovens, refrigerators, and dishwashers, to help foodservice establishments reduce their energy consumption and operational costs. The integration of smart technology is gaining momentum in commercial foodservice equipment. Connected appliances and IoT-enabled devices allow for remote monitoring, data analysis, and control of equipment performance. This technology enables improved efficiency, predictive maintenance, and real-time insights for businesses.

Commercial Foodservice Equipment Market Segmentation

• By Type Analysis

According to type, the commercial foodservice equipment market can be segmented into baking equipment, cooking equipment, ware washing equipment, preparation, equipment, holding & storing equipment,beverage equipment, ice, and refrigeration.

In terms of type, beverage equipment is anticipated to be the largest segment during the forecast period.

• By Application Analysis

Based on application, thecommercial foodservice equipment market can be divided into full-service restaurant (FSR) andquick service restaurant (QSR).

In terms of application, the quick service restaurant (QSR) market is projected to hold a commercial foodservice equipment market share through 2031.

Driving Factors

"Growth in the Foodservice Sector Will Drive Market Growth "

The overall growth of the foodservice industry, including restaurants, hotels, catering services, and institutional dining, drives the demand for commercial foodservice equipment. As the number of foodservice establishments increases, there is a corresponding need for efficient and reliable equipment to support their operations. Shifting consumer preferences and demands impact the types of equipment required in foodservice establishments. As consumers seek out new dining experiences, healthier options, and diverse culinary offerings, foodservice operators need to invest in equipment that can accommodate these preferences and prepare a wide range of dishes.

"Technological Advancements and Food SafetyWill Propel Market Growth "

Advancements in technology, including automation, connectivity, and smart features, drive innovation in commercial foodservice equipment. These advancements improve efficiency, enhance productivity, and provide data-driven insights for optimizing operations. The integration of technology in equipment helps streamline processes, reduce labor requirements, and improve overall performance. Stringent food safety regulations and standards require foodservice establishments to adhere to strict guidelines. Commercial foodservice equipment plays a crucial role in ensuring compliance with these regulations. Equipment with enhanced safety features, sanitation capabilities, and temperature control mechanisms helps maintain food safety standards and minimize health risks.

Restraining Factors

"Economic Conditions and Cost and Affordability Will Limit Market Growth "

Economic downturns or recessions can have a significant impact on the foodservice industry as a whole. During periods of economic instability, businesses may face financial constraints, leading to reduced capital expenditure and delayed equipment purchases. Uncertain market conditions and lower consumer spending can result in decreased demand for commercial foodservice equipment. Commercial foodservice equipment can be expensive, especially for small or independent foodservice operators with limited budgets. The high upfront costs of equipment, along with ongoing maintenance and operating expenses, can be a barrier to entry or expansion for some businesses. Affordability concerns may lead operators to choose lower-cost alternatives or delay equipment upgrades.

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Commercial Foodservice Equipment Market Regional Insights

"The North America Region will Dominate Market Due to Strong Demand of Energy Efficiency and Sustainability"

North America is dominating the commercial foodservice equipment market. The commercial foodservice equipment market in North America is well-developed and highly competitive.Energy efficiency and sustainability are important considerations for operators, with a focus on energy-saving equipment and eco-friendly practices. The demand for versatile and space-saving equipment is increasing as smaller establishments and food trucks gain popularity. Also, Automation and smart technology integration, such as touch-screen controls and IoT-enabled devices, are gaining traction.

The European market emphasizes energy efficiency and sustainability, with strict regulations promoting environmentally friendly equipment. The rise of fast-casual dining and quick-service restaurants has driven the demand for high-speed cooking and food preparation equipment. Open kitchens and interactive food displays are popular, leading to a demand for attractive and functional display cases, ovens, and food warming equipment. The focus on food quality and preservation has led to increased demand for precision temperature control equipment and vacuum packaging machines.

Key Industry Players

"Adoption Recycling Services by Key Players Influencing Market Development"

The top key players in the commercial foodservice equipment market areDover Corporation, San Jamar, ITW Food Equipment Group, Duke Manufacturing, The Vollrath Company, Ali Group. Most of the top players hold the commercial foodservice equipment market share. In addition, the strategies to develop new technologies, capital investment in R&D, improve product quality, acquisitions, mergers, and compete for the commercial foodservice equipment market growth in the competition help them to perpetuate their position and value in the market. Besides, collaboration with other companies & extensive possession of market shares by the key players stimulates the commercial foodservice equipment market.

LIST OF TOP COMMERCIAL FOODSERVICE EQUIPMENT COMPANIES

• Dover Corporation (U.S.)
• San Jamar (U.S.)
• ITW Food Equipment Group (U.S.)
• Duke Manufacturing (Italy)
• The Vollrath Company (U.S.)
• Ali Group (Italy)
• Cambro Manufacturing (U.S.)
• Electrolux (Sweden)
• Hatco (U.S.)
• fujimak corporation (Japan)
• Henny Penny (U.S.)
• Alto-Shaam (U.S.)
• Welbilt (U.S.)
• Waring (U.S.)
• Middleby (U.S.)

Report Coverage

This report examines an understanding of the commercial foodservice equipment market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.