Albany, NY -- (SBWire) -- 07/16/2019 --The Food Service Equipment market has seen new avenues from changing consumer preferences and taste especially in developing and developed regions. Advances in processing technologies are offering an increasing impetus to product developments. Companies in the Food Service Equipment market are vigilant of new regulations in emerging markets and accordingly recalibrating their strategies. Growing array of research has helped them differentiate their portfolio and gain competitive edge in developed markets. In both regions, prominent players are focusing on expanding their distribution capacity with an aim to consolidate their geographic reach. Growing numbers of players will likely reap revenue gains from constant advancement in packaging used for Food Service Equipment. Further, several of them seek new fortification technologies to bring innovations in the market.
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A comprehensive research report created through extensive primary research (inputs from industry experts, companies, stakeholders) and secondary research, the report aims to present the analysis of global food Service Equipment market on the basis of By Product Cooking, Refrigeration & Ice Machine, Storage & Handling, Warewashing & Sanitation, Serving, Food Preparation; By End User Full Service Restaurants, Limited Service Restaurants and Others; By Region (North America, Europe, APAC and ROW), and By Country (US, Canada, Mexico, UK, Germany, Japan, China, India, Brazil and South Africa).
Global Food Service Equipment Market is forecasted to grow at a CAGR of 4.55% during 2016 2021. The strong growth in food Service Equipment market is driven by rise in per capita disposable consumer income, lower unemployment rate, need to replace or upgrade existing equipment and growing concern towards food safety and health.
Refrigeration & Ice Machine Equipment hold the major percentage share in the total market and is also the fastest growing segment. Among the regions, North America holds the largest market share mainly due to well established foodservice industry and restaurants there demanding more energy efficient and technologically advanced equipment. However, APAC is expected to grow at a faster pace during forecasted period.
According to Azoth Analytics research report, Global Food Service Equipment Market By Product Type, By End User, By Region, By Country (2016-2021), Global Food Service Equipment Market is projected to exhibit a CAGR of over ~4.55% during 2016 - 2021. Global food Service Equipment market has been segmented on the basis of Product Cooking, Refrigeration & Ice Machine, Storage & Handling, Warewashing & Sanitation, Serving, Food Preparation; By End User Full Service Restaurants, Limited Service Restaurants; Region (North America, Europe, APAC and ROW), Country(US, Canada, Mexico, UK, Germany, Japan, China, India, Brazil and South Africa).
Scope of the Report
The report provides coverage by Type, Mode of Application and End User:
By Product Type
Cooking Equipment
Refrigeration & Ice Machine Equipment
Storage & Handling Equipment
Warewashing & Sanitation Equipment
Serving Equipment
Food Preparation Equipment
By End User
Full Service Restaurants
Limited Service Restaurants
Others
By Region
Europe
North America
APAC
ROW
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By Country
US
Canada
Mexico
UK
Germany
Japan
China
India
Brazil
South Africa
Report Highlights:
Primary Research: Interviews conducted with key management people to gain quality responses and deeper insights.
Secondary Research: Data and insights from industry associations, annual reports, company presentations, premium journals and internal database.
Actual Period: Historical and current market sizing (2012-2015)
Forecast Period: Projected market sizing (2016E-2021F)
Companies Covered: Manitowoc Foodservice, ITW Food Equipment Group, The Middleby Corporation, Ali Group, Standex International, Vollrath Company, LLC, IMI Cornelius, Rational AG, Dover Corporation, Hoshizaki Corp
Strategic Recommendations
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How Food Service Equipment Market Growing Rapidly? Global Players - Manitowoc Foodservice, ITW Food Equipment Group, the Middleby, Ali Group, Dover, Hoshizaki