Consumers across the globe are adjusting to the new normal and there is a noteworthy discrepancy in consumer behavior. Consumer's purchasing habits, behavior, and attitudes have changed in light of COVID-19. People are shopping very consciously and are majorly centered on basic needs and are buying locally. Consumers are using digital commerce to play, learn, and connect to manage isolation and follow social distancing policy. The covid-19 has consistently impacted the shopping behavior of 9 in 10 consumers. Nearly 30-50 percent of the consumers have shifted towards online shopping from March 2020 to December 2020.
Food Service Equipment Market Overview
The continuous expansion in the food service industry is driven by the increasing demand for food and the growing population across the world. This prime factor boosting the demand of the global food service equipment market. In addition, the changing lifestyle of the working-class population led to increasing the demand for packaged and ready-to-cook products to save time. Also, the rising global demand for fast food varieties is expected to expand the market growth. Also, increasing participation of women in the workforce has created more demand for many kitchen appliances for easy and fast, food preparation. This equipment is used for cutting, cooking, baking, and others. They are essential for making the bulk of food for a large number of customers. This factor is also contributing towards the market’s growth.
Moreover, the hospitality sector around the world has seen incredible developments over the years. A large number of participants in the food industry through hotels, fine restaurants, catering, and fast-food joints. They required various techniques and fine equipment to offer excellent services. Food service equipment is one of them. Hence, All These crucial factors will provide lucrative growth opportunities for the food service equipment market over the next few years.
However, the high costs of food service equipment could hamper the growth of the market.
Food Service Equipment Market Segment Overview
The Walk-ins and Blast Freezers segment holds the largest share of the market. This is because of the huge growth in the numbers of fine restaurants and hotels in developed as well as developing countries across the world. Additionally, the quick service restaurant segment is fasted growing segment in the market due to the increase in food delivery service. For instance, Dominos, KFC, McDonald's, Subway, and many more are the global franchise of quick-service restaurants that provide takeaway food facilities to their customer.
Food Service Equipment Market Regional Overview
North America commanded a major share of the market and is predictable to maintain its supremacy over the forecast period. The presence of a strong hospitality sector and the high adoption of technically improved products in the food service industry will boost the market growth in the region. Furthermore, Asia Pacific is estimated to be one of the quickest developing zonal markets in the forthcoming year. This is attributed to the growth in consumption of outside food and the booming hospitality industry in this regoin.
Food Service Equipment Market Competitor overview
· In December 2019, Hydro Systems, part of PSG® and Dover, launched EvoWash, a powder/solid detergent dissolver with an optional, integrated rinse pump and EvoRinse, a solid rinse dissolver to be used in conjunction with EvoWash. This equipment is ideal for commercial and non-commercial food service operations.
· In May 2018, - Welbilt, Inc., a leading global provider of commercial foodservice equipment, announced the agreement with NexGen Procurement Group for Cleveland™ and Delfield® to become the primary suppliers in the categories of steam, refrigeration, and serving systems.
Food Service Equipment Market, Key Players
· Meiko
· Ali Group
· Duke Manufacturing Co. Inc.
· Manitowoc Company Inc.
· Hoshizaki Electric Co., Ltd.
· Libbey Inc.
· Dover Corporation
· Middleby Corporation
· Electrolux AB
· Rational AG
· Hobart Corporation
· Vollrath Co.
· Tupperware Brands Corporation
· Fujimak Corporation
Food Service Equipment Market Segmentation
Food Service Equipment Market, By Product Type
· Refrigerated Vending Machines
· Glass Door Merchandisers (GDMs)
· Beverage Dispensers
· Ice Cream Machines
· Commercial Fridges/Freezers
· Ice Cream Cabinets
· Ice Machines
· Walk-ins and Blast Freezers
Food Service Equipment Market, By End-User
· Full-Service Restaurant
· Quick Service Restaurant
· Hotels
· Others
Food Service Equipment market, By Region
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East and Africa
- GCC
- South Africa
- Rest of Middle East and Africa
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Food Service Equipment Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Product Type
- 5.2.1. Refrigerated Vending Machines
- 5.2.2. Glass Door Merchandisers (GDMs)
- 5.2.3. Beverage Dispensers
- 5.2.4. Ice Cream Machines
- 5.2.5. Commercial Fridges/Freezers
- 5.2.6. Ice Cream Cabinets
- 5.2.7. Ice Machines
- 5.2.8. Walk-I-ins and Blast Freezers
- 5.3. Market Analysis, Insights and Forecast – By End-User
- 5.3.1. Full-Service Restaurant
- 5.3.2. Quick Service Restaurant
- 5.3.3. Hotels
- 5.3.4. Others
- 5.4. Market Analysis, Insights and Forecast – By Region
- 5.4.1. North America
- 5.4.2. Latin America
- 5.4.3. Europe
- 5.4.4. Asia Pacific
- 5.4.5. Middle East and Africa
6. North America Food Service Equipment Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Product Type
- 6.2.1. Refrigerated Vending Machines
- 6.2.2. Glass Door Merchandisers (GDMs)
- 6.2.3. Beverage Dispensers
- 6.2.4. Ice Cream Machines
- 6.2.5. Commercial Fridges/Freezers
- 6.2.6. Ice Cream Cabinets
- 6.2.7. Ice Machines
- 6.2.8. Walk-I-ins and Blast Freezers
- 6.3. Market Analysis, Insights and Forecast – By End-User
- 6.3.1. Full-Service Restaurant
- 6.3.2. Quick Service Restaurant
- 6.3.3. Hotels
- 6.3.4. Others
- 6.4. Market Analysis, Insights and Forecast – By Country
- 6.4.1. U.S.
- 6.4.2. Canada
7. Latin America Food Service Equipment Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Product Type
- 7.2.1. Refrigerated Vending Machines
- 7.2.2. Glass Door Merchandisers (GDMs)
- 7.2.3. Beverage Dispensers
- 7.2.4. Ice Cream Machines
- 7.2.5. Commercial Fridges/Freezers
- 7.2.6. Ice Cream Cabinets
- 7.2.7. Ice Machines
- 7.2.8. Walk-I-ins and Blast Freezers
- 7.3. Market Analysis, Insights and Forecast – By End-User
- 7.3.1. Full-Service Restaurant
- 7.3.2. Quick Service Restaurant
- 7.3.3. Hotels
- 7.3.4. Others
- 7.4. Market Analysis, Insights and Forecast – By Country
- 7.4.1. Brazil
- 7.4.2. Mexico
- 7.4.3. Rest of Latin America
8. Europe Food Service Equipment Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Product Type
- 8.2.1. Refrigerated Vending Machines
- 8.2.2. Glass Door Merchandisers (GDMs)
- 8.2.3. Beverage Dispensers
- 8.2.4. Ice Cream Machines
- 8.2.5. Commercial Fridges/Freezers
- 8.2.6. Ice Cream Cabinets
- 8.2.7. Ice Machines
- 8.2.8. Walk-I-ins and Blast Freezers
- 8.3. Market Analysis, Insights and Forecast – By End-User
- 8.3.1. Full-Service Restaurant
- 8.3.2. Quick Service Restaurant
- 8.3.3. Hotels
- 8.3.4. Others
- 8.4. Market Analysis, Insights and Forecast – By Country
- 8.4.1. UK
- 8.4.2. Germany
- 8.4.3. France
- 8.4.4. Italy
- 8.4.5. Spain
- 8.4.6. Russia
- 8.4.7. Rest of Europe
9. Asia Pacific Food Service Equipment Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Product Type
- 9.2.1. Refrigerated Vending Machines
- 9.2.2. Glass Door Merchandisers (GDMs)
- 9.2.3. Beverage Dispensers
- 9.2.4. Ice Cream Machines
- 9.2.5. Commercial Fridges/Freezers
- 9.2.6. Ice Cream Cabinets
- 9.2.7. Ice Machines
- 9.2.8. Walk-I-ins and Blast Freezers
- 9.3. Market Analysis, Insights and Forecast – By End-User
- 9.3.1. Full-Service Restaurant
- 9.3.2. Quick Service Restaurant
- 9.3.3. Hotels
- 9.3.4. Others
- 9.4. Market Analysis, Insights and Forecast – By Country
- 9.4.1. China
- 9.4.2. India
- 9.4.3. Japan
- 9.4.4. Australia
- 9.4.5. South East Asia
- 9.4.6. Rest of Asia Pacific
10. Middle East & Africa Food Service Equipment Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 10.1. Key Findings / Summary
- 10.2. Market Analysis, Insights and Forecast – By Product Type
- 10.2.1. Refrigerated Vending Machines
- 10.2.2. Glass Door Merchandisers (GDMs)
- 10.2.3. Beverage Dispensers
- 10.2.4. Ice Cream Machines
- 10.2.5. Commercial Fridges/Freezers
- 10.2.6. Ice Cream Cabinets
- 10.2.7. Ice Machines
- 10.2.8. Walk-I-ins and Blast Freezers
- 10.3. Market Analysis, Insights and Forecast – By End-User
- 10.3.1. Full-Service Restaurant
- 10.3.2. Quick Service Restaurant
- 10.3.3. Hotels
- 10.3.4. Others
- 10.4. Market Analysis, Insights and Forecast – By Country
- 10.4.1. GCC
- 10.4.2. South Africa
- 10.4.3. Rest of Middle East & Africa
11. Competitive Analysis
- 11.1. Company Market Share Analysis, 2018
- 11.2. Key Industry Developments
- 11.3. Company Profile
- 11.4. Meiko
- 11.4.1. Business Overview
- 11.4.2. Segment 1 & Service Offering
- 11.4.3. Overall Revenue
- 11.4.4. Geographic Presence
- 11.4.5. Recent Development
- 11.5. Ali Group
- 11.6. Duke Manufacturing Co. Inc.
- 11.7. Manitowoc Company Inc.
- 11.8. Hoshizaki Electric Co., Ltd.
- 11.9. Libbey Inc.
- 11.10. Dover Corporation
- 11.11. Middleby Corporation
- 11.12. Electrolux AB
- 11.13. Rational AG
- 11.14. Hobart Corporation
- 11.15. Vollrath Co.
- 11.16. Tupperware Brands Corporation
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
