Food & Beverage Market Research News

The global food service equipment market is expected to expand at a CAGR of 6.8% according to new research report

Food & Beverage Market Research

Food service equipment are used for handling and processing food by various processes such as grinding, peeling, cooling, roasting, etc. for commercial purposes in hospitality sector. China and Hong Kong food service equipment market is expected to witness a significant growth in near future owing to rising hospitality sectors in the region and growing trend of consuming ready to eat and process food among the population. Presently, China, expanding at 6.8% compound annual growth rate (CAGR) is the biggest market for food service equipment in Asia-Pacific and is projected to have a lion share in near future. In, addition to this, adoption of energy efficient food service equipment is carried out in hospitality sector in order to serve better quality of food to consumers has allowed the food service equipment market to reach new heights in the country.

Market Size & Forecast

The food service equipment market of China is expected to reach USD 4,181 Million by 2023 from USD 2,854 Million and would be the biggest market in near future. However, the Hong Kong market of food service equipment is predicted to be the fastest growing market in coming years.

Cooking Equipment segment is expected to be the most profitable market in China & Hong Kong during the forecast period owing to growing need of energy efficient cooking equipment in restaurants. Restaurants and hotels are now more focused on customers need and services in order to increase profitability.

Adoption of energy efficient and time saving food service equipment in quick service restaurants enables to operate efficiently to provide quality services to the customers. By Product segment, Refrigerators and food cooking equipments hold the >65% revenue of the overall food service equipment market.

Report: www.researchnester.com/sample-request/2/rep-id-184

The less time-consuming process characteristics and increase in shelf-life of equipment are further predicted to gain traction of food service equipment in China and Hong Kong market. Advance technology in food service equipment such as automatic ovens, cooking line, 5-sense automatic fryers, compact food preparation equipment.

are further projected to help the demand to expand.   Growing culture of fast food in urban regions and rapid expansion of food industries across the globe are the prime growth drivers for the market of food service equipment.

Market Segmentation

Demand & Opportunity Analysis By Product

Deep dive study has been carried out on following product segments:-

Food Preparation Equipment

Slicers and Peelers

Mixers and Grinders

Hand Held Food Blenders

Food Processors

Others

Drink Preparation Equipment

Drink Blenders

Juicers

Ice Crushers

Cooking Equipment

Grills

Fryers

Ovens

Toasters

Refrigerators and Chillers

Blast Freezers

Ice Machines

Soft Serve Ice Cream Machines

Glass Door Merchandisers

Ice Cream Cabinets

Wash ware Equipments

Booster Heaters

Dish Washers

Disposers

Utensils Washers

Others

Demand & Opportunity Analysis By End Users

On the basis of end user, the market can be segmented into following categories:-

Full Service Restaurants

Quick Service Restaurants

Caterers

Hotel and Club Restaurants

Others

Growth Drivers and Challenges

Rising hospitality infrastructure along with the rapid urbanization has led to establishment of new restaurant in China and Hong Kong market. This will further create a huge demand of food service equipments in the region.

Owing to the increasing penetration of international restaurants and food chains across the globe, key players of the market are establishing their food stores in robust economies such as China & Hong Kong. Increasing investment by foreign restaurant brand in China and Hong Kong will further showcase a green growth of food service equipment market in China and Hong Kong.

Manufacturing of newly designed equipment equipped with latest & user-friendly interfaces and introduction of cost-effective food service equipment such as hand held blenders are some of the major growth driving factors for the food service equipment market.

Report: - www.researchnester.com/toc-request/1/rep-id-184

High cost and regular maintenance associated with the equipments along with the presence of stringent regulation from food regulatory authorities are major challenges for food service equipment market.

Key Players

Hobart Corporation

Dover Corporation.

Fujimak Corporation

Duke Manufacturing Co. Inc.

Rational AG

Illinois Tool Works Inc.

Carlisle Companies Incorporated

John Bean Technologies Corporation

Manitowoc Food Service, Inc.

The Middleby Corporation

Standex International Corporation

AB Electrolux

Scope and Context

Overview of the Parent Market

Analyst View

Segmentation

By Equipment Type Market Size & Y-O-Y Growth Analysis

By Application Market Size & Y-O-Y Growth Analysis

By Component Market Size & Y-O-Y Growth Analysis

Market Dynamics

Supply & Demand Risk

Competitive Landscape

Porter’s Five Force Model

Geographical Economic Activity

Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

Recent Trends and Developments

Industry Growth Drivers and Challenges

Key Information for Players to establish themselves in current dynamic environment

News From

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