Food Service Equipment Market Size Set to Reach USD 74.4 Billion by 2035 | Driving Growth with a 6.3% CAGR

WILMINGTON, DE, UNITED STATES, March 11, 2025 /EINPresswire.com/ -- According to the report, the "food service equipment market" was valued at $35.8 billion in 2023, and is estimated to reach $74.4 billion by 2035, growing at a CAGR of 6.3% from 2024 to 2035.

Food service equipment market is driven by growth in food service industry, rise in expansion of quick-service restaurant, changing consumer preference, and surge in urbanization and population growth. Moreover, the rapid technological advancement in the food industry has led to a change in dynamics and made it easier for both customers and organizers to organize the market smoothly.

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Food service equipment encompasses a wide range of appliances, tools, machinery, and devices specifically designed for use in the food service industry. These essential tools facilitate various operations related to food, including preparation, cooking, storage, transportation, serving, and cleaning. The category includes items such as commercial ovens, refrigerators, freezers, grills, fryers, dishwashers, food processors, slicers, mixers, and serving carts.

Designed to endure the rigors of high-volume use, food service equipment is vital in settings like commercial kitchens, catering services, restaurants, cafeterias, hotels, and other food service venues. These appliances are engineered to comply with strict health, safety, and sanitation regulations, ensuring efficient and hygienic food handling.

The global market for food service equipment is segmented by product type, end use, and region. By product type, it includes categories like cooking equipment, storage and handling equipment, food and beverage preparation equipment, warewashing equipment, and serving equipment. In 2023, cooking equipment held the largest market share and is expected to continue leading throughout the forecast period. Utilizing food service equipment helps reduce labor costs, enhance food safety, and lower operational expenses. The rising trend of dining out, influenced by external food options and changing lifestyles, is making restaurants increasingly popular.

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Furthermore, the demand for dining options has surged due to a growing interest in creative cooking and baking among consumers. To provide the best service to their customers, restaurants are investing in various types of cooking equipment, which contributes to market growth. Additionally, fast-food chains are increasingly adopting larger, open kitchen designs that allow patrons to see the food preparation process and the equipment used. It is expected that increased investments in Europe and the Asia-Pacific region for replacing cooking equipment will further drive the growth of the food service equipment market.

Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and Latin America & MEA. In recent years, the food service business has experienced notable advancements in terms of product affordability and technology. Restaurants, bars, and other commercial eateries favor the use of automated equipment, according to food service equipment market trend. To help the industry produce donuts and bread rolls, Belshaw Adamatic Bakery Group (a division of Ali Group North America) produced makeup lines, donut systems, and divider rounders. To meet the expanding demands of their clientele and automate their operations, industry participants have made significant investments in food equipment solutions. The fast food chain and restaurant sector leads the North American food service market in terms of growth, which has incresed the food service equipment market growth.

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According to food service equipment market analysis, early automation adoption in commercial kitchens is the primary driver of the food service equipment market's growth in North America. The food service equipment industry's accessibility to reasonably priced, safe, and well-made equipment enables small businesses to experiment with and adopt kitchen solutions for a range of uses. Additionally, businesses embrace food service equipment due to the rising cost of professional labor.

The major players profiled in the food service equipment market report include Duke Manufacturing Co. Inc., Electrolux, Dover Corporation, Illinois Tool Works (ITW), Inc., Ali Group S.r.l. a Socio Unico, Welbilt, Inc., Middleby Corporation, Alto-Shaam, Inc., Comstock-Castle Stove Co., Inc., and Cambro Manufacturing Co. Inc.

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