At 4.1% CAGR, Food Service Equipment Market Size Worth $45.2 Billion by 2027: IndustryARC

September 06 11:10 2022
At 4.1% CAGR, Food Service Equipment Market Size Worth $45.2 Billion by 2027: IndustryARC
Market Research Reports, Business Consulting Services & Analytics
Food Service Equipment Market Size is estimated to reach $45.2 billion by 2027 and is poised to grow at a CAGR of 4.1% over the forecast period of 2022-2027. Rise in the demand for advanced food service equipment and technological advancements in restaurants & the catering industry are contributing to the growth of the Food Service Equipment Industry during the forecast period 2022-2027.

IndustryARC, in its latest report, predicts that Food Service Equipment Market Size is estimated to reach $45.2 billion by 2027 and is poised to grow at a CAGR of 4.1% over the forecast period of 2022-2027. Food Service equipment is used for the preparation and storage of food products for commercial use. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

 

Key takeaways:

This IndustryARC report on the cobalt Food Service Equipment Market highlights the following areas –

1. Geographically, North America held a dominant market share in the year 2021, owing to the presence of key players in the region. In addition, the companies are developing innovative Food Service Equipment for various applications. A robust economy and a growing trend in full-service restaurants are driving demand for Food Service Equipment Industry in this region.

2. The technological advancements in the restaurant and catering industry are driving the growth of the Food Service Equipment Market Size. However, the rise in food safety issues is expected to hinder the growth of the target market to a certain extent.

3. A detailed analysis of strengths, weaknesses, opportunities and threats would be provided in the Food Service Equipment Market Report.

 

Interested in knowing more relevant information? Click here:

https://www.industryarc.com/pdfdownload.php?id=504564

 

Segmental Analysis:

1. The Storage and Handling Equipment segment is estimated to be the fastest-growing, with a CAGR of 5.2% over the forecast period of 2022-2027. Companies are inclining toward optimum food safety and regularly clean & sanitize temperature-controlled food holding equipment.

2. Quick Service Restaurants (QSR) is estimated to be the fastest-growing, with a CAGR of 6.0% over the forecast period of 2022-2027. Continuous product advancements in the food service equipment sector have been recognized as an additional stimulus, allowing time-pressed consumers to have faster access to high-quality cooked foods.

3. The Food Service Equipment Market, based on Geography, can be further segmented into North America, Europe, Asia-Pacific, South America and the Rest of the World. North America held a dominant market share of 42% in 2021.

 

Competitive Landscape:

The top 5 players in the Food Service Equipment industry are –

1. Dover Corporation

2. Ali S.p.A

3. Illinois Tool Works Inc.

4. Middleby Corporation

5. Welbilt, Inc.

 

Click on the following link to buy the Food Service Equipment Market Report:

https://www.industryarc.com/reports/request-quote?id=504564

 

Why Choose IndustryARC?

IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports.

Email: [email protected]

USA: (+1) 614-588-8538, (+1) 815-656-4596

 

Similar Reports:

A. Food Processing Machinery Market

https://www.industryarc.com/Report/16692/food-processing-machinery-market.html

B. Prepared Food Equipment Market

https://www.industryarc.com/Research/Prepared-Food-Equipment-Market-Research-504452

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