PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1741142
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1741142
Food Service Equipment Market is estimated to be valued at USD 40.04 Bn in 2025 and is expected to reach USD 59.02 Bn by 2032, growing at a compound annual growth rate (CAGR) of 5.7% from 2025 to 2032.
Report Coverage | Report Details | ||
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Base Year: | 2024 | Market Size in 2025: | USD 40.04 Bn |
Historical Data for: | 2020 To 2024 | Forecast Period: | 2025 To 2032 |
Forecast Period 2025 to 2032 CAGR: | 5.70% | 2032 Value Projection: | USD 59.02 Bn |
Food service equipment includes all tools, utensils, crockery and cutlery that are needed for the preparation, cooking, holding, serving and washing of foods. This type of equipment should be designed, constructed and finished in such a way that it can be cleaned and disinfected safely without the use of any special tools. Cooking equipment, storage and handling equipment, ware washing equipment and food holding and serving equipment are the key product that make up food service equipment.
The food service equipment industry includes cooking equipment, refrigeration and storage systems, food preparation appliances, and cleaning and sanitizing appliances. The demand for these appliances is growing due to the increasing adoption of advanced kitchen technologies in commercial food services establishments. Key players are focusing on developing energy efficient and space saving products with high performance capabilities. Moreover, they are also incorporating robotics, machine intelligence, and cloud connectivity to help restaurant businesses construct efficient smart kitchens. The emergence of quick-service restaurants among the millennial and Gen Z population is fueling the growth of this market. This is due to the growing preference for processed and easy-to-prepare foods that offer convenience as well as nutrition and quality. As a result, the food service equipment market is expanding at an accelerated pace as consumers favor products with high ROI and lower maintenance costs.
However, high investment cost of equipment is expected to restrict the market growth.