New York, Sept. 12, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the “Food Service Equipment Global Market Report 2022” – https://www.reportlinker.com/p06319250/?utm_source=GNW
These are available in several modes such as manual, semi-automatic and fully automatic.
These aim to deliver the right amount of served food at an optimum temperature, ensuring higher levels of productivity for the end user.
The major types of equipment in the catering equipment market are food preparation equipment, beverage preparation equipment, heating and holding equipment, cooking equipment, refrigerators and coolers, baking, merchandisers, dishwashing equipment, other F&B service equipment. Food preparation equipment refers to equipment used to efficiently process many foods.
Food preparation equipment includes kitchen utensils, blenders, processors, slicers and peelers, blenders and grinders, etc. Catering equipment is distributed online and offline.
Foodservice equipment is used by full service restaurants, quick service restaurants, institutions and others.
The Foodservice Equipment Market research report is part of a series of new reports that provide Foodservice Equipment market statistics, including the global Foodservice Equipment market size. Catering Equipment, Regional Shares, Competitors Holding Catering Equipment Market Share, Detailed Catering Equipment Market Segments. , market trends and opportunities, and any other data you may need to thrive in the Foodservice Equipment industry. This Foodservice Equipment Market research report offers a comprehensive perspective of everything you need, with an in-depth analysis of current and future industry scenarios.
The global catering equipment market is expected to grow from $30.85 billion in 2021 to $31.83 billion in 2022 at a compound annual growth rate (CAGR) of 3.20%. The foodservice equipment market is expected to reach $39.16 billion in 2026 at a compound annual growth rate (CAGR) of 5.31%.
The growing online catering industry is contributing significantly to the growth of the catering equipment market. Online dining is growing due to the convenience offered, accessibility to everyone, expanded choices, reasonable prices, and more.
Specifically, during the COVID 19 pandemic, when people were required to maintain social distancing and follow safety guidelines, customers began ordering online more frequently to reduce physical interaction between customer and host. This growth of the online catering industry has necessitated more catering equipment to be deployed to meet the market demand, resulting in a large demand for catering equipment.
For example, according to a report by one of the Big Four management consultancies Deloitte, the online food delivery industry is expected to grow more than 10% annually to reach around $25 billion in Europe by 2023. This growth is the result of more practical options associated with rising revenues.
Moreover, according to a report by Google and the Boston Consulting Group (BCG), the Indian online food industry is expected to reach $8 billion by the end of 2022, growing by 25-30%. Thus, the growing online catering sector will drive the growth of the catering equipment market.
Technological advancement is a key trend gaining popularity in the catering equipment market. The market is witnessing the implementation of advanced technologies such as automation, virtual control systems, sensory systems, robots, fusion technology machines and others to enable more efficient food operations. service equipment.
Major companies operating in the catering equipment market are focusing on providing state-of-the-art equipment to strengthen their position in the market. For example, in March 2021, an American cooking technology company TurboChef Technologies LLC and Middleby Corporation, a and a residential kitchen equipment company introduced PLEXOR, a next-generation ventless automated oven.
It is a flexible multi-technology cooking platform that allows automated operation of different oven modules with a single user interface and a single plug. This technology benefits the business by simplifying customer preferences, optimizing work and increasing service speed without compromising product/service quality standards.
In December 2021, Ali Group, an Italy-based catering equipment company, acquired The Montague Company for an undisclosed amount. This acquisition strengthens the Ali Group as a leader in the global commercial catering equipment market and expands growth opportunities to provide a brand-new dimension in serving the catering equipment industry.
The Montague Company is an American manufacturer of commercial cooking equipment.
The major players in the catering equipment market are AB Electrolux, Ali Group Srl a Socio Unico, Dover Corporation, Duke Manufacturing, Haier Group, SMEG SpA, The Middleby Corporation, Illinois Tool Works Inc, Welbilt Inc, Comstock-Castle Stove Co Inc , Cambro Manufacturing Co Inc, Hoshizaki Electric Co Ltd, Fujimak Corporation, Electrolux Professional, Alto-Shaam Inc, Standex International Corporation, The Vollrath Company LLC, ITW Food Equipment Group, Meiko, Tupperware and Hobart Corporation.
Asia-Pacific was the largest region in the catering equipment market in 2021. North America is expected to be the fastest growing region during the forecast period.
Regions covered in the Foodservice Equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle -East and Africa.
The countries covered in the Foodservice Equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the United Kingdom and the United States.
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