Latest News- Food Service Equipment Market: Offline is expected to lead the Distribution Channel segment during 2024-2028

The Food Service Equipment Market is being driven by Shift toward energy-efficient food service equipment

The Food Service Equipment Market is expected to grow at a CAGR of 5.99% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 12747.6 million. In the highly regulated food service industry, adherence to food storage and safety standards, as set by the US Food and Drug Administration (FDA), is paramount. This regulatory environment has fostered continuous innovation in food service equipment, particularly in food storage solutions. Brands are vying for market share as end-users increasingly prioritize equipment that preserves food freshness. Manufacturers are responding with advanced features, such as enhanced odor control systems, designed to eliminate unpleasant odors and ensure optimal food preservation. These innovations not only meet regulatory requirements but also cater to the evolving needs of food service providers. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Distribution Channel
  • Offline
  • Online
• Product
  • Cooking and preparation equipment
  • Refrigeration equipment
  • Ware washing equipment
  • Storage and handling equipment
  • Others
• Geography
  • APAC
    • China
    • Japan
  • North America
    • US
  • Europe
    • Germany
    • UK
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Shift toward energy-efficient food service equipment
• Growth in food service industry
• IoT integration with food services equipment

However, the market also witnesses some limitations, which are as follows:

• High installation and operational costs of food service equipment
• Concerns related to food safety
• Shortage of labor and need for trained staff

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Market Scope in Food Service Equipment Market Research Report

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Research Analysis Overview

The Food Service Equipment Market in the hospitality sector is witnessing significant digitalization, with a focus on eco-friendly equipment that adheres to consumer safety norms. Technological progressions have led to advanced cooking stoves, electrical refrigerators, and ware washing equipment. Kitchen spaces are being equipped with tools, utensils, storage units, and tableware made from sustainable materials. Cutlery items, plates, cups, bowls, colanders, glasses, and woks are being redesigned to meet modern culinary needs while prioritizing energy efficiency and durability.

Market Research Overview

In the dynamic and evolving hospitality sector, the Food Service Equipment Market plays a pivotal role, contributing significantly to the global business landscape. This market encompasses revenue generated from the manufacturing and supply of eco-friendly and energy-efficient equipment, such as cooking stoves, electrical refrigerators, and innovative products adhering to consumer safety norms. The digitalization of kitchen spaces has led to technological progressions, including equipment architecture, energy consumption optimization, and semiconductor integration. Compliance with safety rules is paramount, ensuring the well-being of staff and patrons. As sustainability becomes a priority, eco-friendly initiatives and energy-efficient appliances are increasingly adopted to reduce environmental impact. The Food Service Equipment Market is an integral segment of the broader household appliances industry, which is categorized into major household appliances, small household appliances, hand tools, power tools, and garden improvement tools, excluding televisions, personal computers, machine tools, and agriculture equipment.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/