Food Service Equipment Market Size

Food Service Equipment Market Insights

Global Food Service Equipment Market size was valued at USD 35.97 billion in 2023 and is poised to grow from USD 38.52 billion in 2024 to USD 66.69 billion by 2032, growing at a CAGR of 7.1% during the forecast period (2025-2032).

The emerging segment within the global hospitality industry is facilitating the growth of this market. Another reason for the increasing need for such equipment is the rapid growth of the food service industry especially in the European and Asian countries. Hotels, catering companies, and restaurants have to incorporate advanced and energy-efficient service equipment for efficient functioning of the kitchen. The industry is expanding due to the enhanced lifestyle brought forth by increased consumer disposable income. The COVID-19 pandemic has put the entire planet in danger, and physical separation is becoming increasingly important to reduce the disease's spread.

In the coming years, there will be a high need for advanced food service equipment owing to an increase in knowledge about food safety as well as the rise of intelligent kitchen devices. Therefore, in response to the aforementioned changes, the Industrial Revolution 4.0, Big Data and IoT have led to the proliferation of smart food businesses manufacturing technology advanced machines. This helps restaurants meet the strictest standards for food safety, minimise waste, enhance traceability, minimise expenses, and lower the risks related to different food serving methods that are quickly emerging as major market trends. The goal of equipment producers is to concentrate on the reasonably priced services that may be offered to raise the standard of food.

US Food Service Equipment Market is poised to grow at a sustainable CAGR for the next forecast year.

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Food Service Equipment Market size was valued at USD 35.97 Billion in 2023 and is poised to grow from USD 38.52 Billion in 2024 to USD 62.27 Billion by 2032, growing at a CAGR of 7.1% during the forecast period (2025-2032).

Key vendors in Food Service Equipment Market are: 'AB Electrolux (Sweden) ', 'Ali Group S.r.l. (Italy) ', 'Dover Corporation (US) ', 'Duke Manufacturing (US) ', 'Haier Group (China) ', 'SMEG S.p.A. (Italy) ', 'The Middleby Corporation (US) ', 'Welbilt (US) ', 'Standex International Corporation (US) ', 'Hoshizaki America, Inc. (US) ', 'FUJIMAK CORPORATION (Japan) ', 'ITW FOOD EQUIPMENT GROUP (US) ', 'The Vollrath Company, LLC (US) ', 'Rational AG (Germany) ', 'LG Electronics (South Korea) ', 'Robert Bosch (Germany) ', 'Samsung Electronics (South Korea) ', 'ACP Solution Inc. (US) ', 'Philips Electronics (Netherlands) ', 'Selecta (Switzerland)'

The increasing consumer demand for convenience significantly drives the global food service equipment market. As lifestyles become busier, customers prefer quick-service and ready-to-eat meals, prompting restaurants and food establishments to invest in efficient cooking and storage equipment. This trend enhances operational efficiency, enabling businesses to meet evolving consumer expectations.

Increasing Demand for Sustainable Equipment: Sustainability and energy efficient supplies is an important trend in the global food service equipment market. Stressed with the need to conserve energy and reduce waste, operators are opting for green equipment. This is in response to the world’s global sustainability efforts and the dining market’s shift towards more responsible and eco-friendly equipment resulting in better efficiency.

North America dominates the global food service equipment market due to a combination of robust consumer spending, a diverse food service industry, and high demand for innovative technology solutions. Carrying capacity is the most important factor in assessing the dynamics of survival. All these factors motivate investments in hotels, restaurants, and catering services. Also, another aspect of improvement in the gastronomy business is the food delivery and take-away service. The use of sophisticated equipment for cooking and food storage cannot be exempted in this case. Moreover, food quality and environmental sustainability are among the top priorities for North American consumers, hence the need for s cooking and refrigeration. In addition, most of the food service equipment manufacturers in the country are based here, which bolsters this region's dominance.