Description :
Foodservice equipment are used for food cooking , preparation , and storage for commercial purposes . Foodservice equipment market comprises cookware , wash-ware , preparation , storage , and serving equipment . These equipment play vital role in hotels , restaurants , commercial institutes and budgetary hotels among others for food cooking and preparation purposes . Increase in global working population has fueled the demand for food service equipment in the recent years .
Increasing demand for refrigerated food products and growing inclination towards junk food has fueled the adoption of food service equipment , worldwide . In addition , improvement in hygiene standards and growth in awareness regarding energy scarcity has encouraged customers to adopt energy-efficient products . Shift to modular kitchens with advanced features has boosted the demand for kitchen food service equipment .
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2022 .
Rise in number of small cafes and restaurants , developments in urban infrastructure in both developed & developing countries , and the increase in disposable income are factors contributing to the gradual growth of the foodservice equipment market .
The stringent government regulations regarding refrigerant leakages and emission in the last few years has driven the market towards replacement products as the companies need to replace their existing equipment with new energy-efficient devices . However , high capital investment and complexities associated with the usage of equipment restrict the market growth .
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The foodservice equipment market is segmented based on product type , end user , and geography . Based on product type , the market is divided into cooking equipment , warewashing equipment , storage & holding equipment , food & beverage preparation equipment , and serving equipment . Cooking equipment , such as fryers , grills , ovens , and others , have been discussed in the report . Cooking equipment and storage & handling equipment together accounted for more than 58 % market share in 2015 . Increasing investments in hotel and restaurant industry , demand for ready-made food , and vast varieties in food products offered by these hotels have contributed to the significant growth of these equipment in North America . Globally , the storage & handling equipment segment is expected to grow at a fastest CAGR of 6.7 %. Cooking equipment accounted for the maximum revenue share in 2015 and is anticipated to maintain its position during the forecast period , owing to its vast usage in commercial kitchens . Serving equipment includes utensils and equipment for serving purposes . These equipment are not high in cost and normally , bulk purchases are not required ; thus , the market is growing at a slow pace .
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