Food

New Analysis From Global Industry Analysts Reveals Steady Growth For Foodservice Equipment, With Market Expected To Reach $38.6 Billion Globally By 2026

New Analysis From Global Industry Analysts Reveals Steady Growth For Foodservice Equipment, With Market Expected To Reach $38.6 Billion Globally By 2026

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Editing: ten; Published: February 2022

Executive Pool: 7182
Companies: 739 – Players covered include Ali Group Srl; Alto-Shaam Inc.; Cambro Manufacturing Co. Inc.; Comstock-Castle Stove Co., Inc.; Dover Corporation; Duke Manufacturing Co.; Electrolux Professional, Inc.; Fujimak Company; Hoshizaki Company; Hubert Company, LLC; Illinois Tool Works Inc.; Middleby Company; Smeg SpA; Vollrath, LLC; Welbilt Corporation and others.
Blanket: All major geographies and key segments
segments: Product (kitchen equipment, storage and handling equipment, dishwashing equipment, food and beverage preparation equipment, other products); End use (full service restaurants and hotels, quick service restaurants and pubs, other end uses)
Geographies: World; United States; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia Pacific; Australia; India; South Korea; Rest of Asia Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UNITED ARAB EMIRATES; Rest of Middle East; Africa.

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ABSTRACT-

Global catering equipment market to reach $38.6 billion by 2026
Catering equipment refers to a plethora of equipment used in catering outlets to meet the needs of their customers, and ranges from kitchen equipment, to customer-facing equipment, to serving equipment, including crockery such as cutlery, crockery, glassware and linen. While kitchen equipment serves to improve kitchen efficiency, customer-oriented equipment enhances the ambiance of the restaurant. Cooking is the primary function of a catering outlet and therefore cooking equipment accounts for the largest share of catering equipment. On the other hand, the emphasis on the proper storage of ingredients as well as the development of cold chain supplies, proper storage is gaining more and more attention. Additionally, regulatory mandates for food safety are also increasing investments in storage equipment. Rapid urbanization and changing consumer preferences are driving the proliferation of catering businesses, thereby driving the catering equipment market. In addition to new establishment equipment demand, replacement demand also accounts for a significant portion of the restaurant equipment market.

Amid COVID-19 crisis, Global Catering Equipment Market Estimated at US$30.4 billion in 2022, is expected to reach a revised size of US$38.6 billion by 2026, growing at a CAGR of 5.4% over the analysis period. Kitchen equipment, one of the segments analyzed in the report, is expected to register a CAGR of 5.7% and reach US$13.1 billion at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the storage and material handling equipment segment is readjusted at a revised CAGR of 6% for the next 7-year period.

The US market is estimated at $9.1 billion in 2022, when China is expected to reach $6.2 billion by 2026
The catering equipment market in the United States is estimated at US$9.1 billion in the year 2022. Chinathe second largest economy in the world, is expected to reach a projected market size of US$6.2 billion by 2026 with a CAGR of 7.4% over the analysis period. Other notable geographic markets include Japan and Canada, each predicting growth of 3.8% and 5% respectively over the analysis period. In Europe, Germany is expected to grow at around 4.2% CAGR. By region, North America accounts for the largest share of the catering equipment market. The United States alone is home to more than 100,000 restaurant chains, most of which have adopted modern kitchens or are required by regulation to adopt modern restaurant equipment. Additionally, the United States is one of the largest markets for processed foods and has strict food service regulations, requiring the adoption of modern equipment. Growing economic power coupled with rapid urbanization in emerging markets is driving the catering industry, which in turn propels the catering equipment market. Asia Pacific (including China) is expected to provide the highest growth opportunities for catering equipment due to the large population and growing economic weight of China and India.

Dishwashing Equipment Segment To Be Achieved US$6.6 billion by 2026
In the global warewashing equipment segment, United States, Canada, Japan, China and Europe will drive the CAGR of 4.9% estimated for this segment. These regional markets representing a combined market size of 4 billion US dollars will reach a projected size of US$5.5 billion at the end of the analysis period. China will remain among the most dynamic in this group of regional markets. Continued

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SOURCE Global Industry Analysts, Inc.