The market for food service equipment will be driven by an increasing working population in the forecast period 2022-2027
30 NORTH GLOUD STREET, SHERIDAN, WYOMING, USA, September 9, 2022 /EINPresswire.com/ — The new report from Expert Market Research titled ‘Global Food Service Equipment Market Size, Report and Forecast 2022-2027’, provides an in-depth analysis of the Food Service Equipment market, assessment of the market supported the segments like product type, application, end user and major regions.
The report tracks the latest trends within the industry and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, along with an analysis of the market based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2017-2027)
Historic Market Size: USD 30.4 billion
Forecast CAGR (2022-2027): 5.7%
Projected market size: USD 42.4 billion
Various input factors, such as the growing hospitality industry, changing eating patterns and increased demand for takeaway, are driving the market forward. Furthermore, factors such as the need for sustainable and environmentally friendly tools, as well as strict standards for end-user safety and extended digitalisation, are expected to provide significant growth prospects in the food industry in the near future.
In response to changing end-user expectations for kitchen layouts, the market has grown rapidly. A burgeoning end-use equipment market has emerged as a result of changing socio-political contexts and technological advancements.
Industry definition and main segments
Food service equipment is a type of storage and preparation equipment used in the food and beverage sector. They are common in restaurants and commercial kitchens, and they are also common in home kitchens. These devices help in efficient cooking, storage and handling of food items, as well as increase user productivity.
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The food service equipment industry can be segmented on the basis of product and end use.
On the basis of the product:
Kitchenware and baked goods