Commercial Foodservice Equipment Market Report 2024

The commercial foodservice equipment market size has grown strongly in recent years. It will grow from $31.25 billion in 2023 to $33.28 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to the rising demand for quick-service restaurants, expansion in the food and beverage industry, growing interest in healthier and gourmet food options, evolving regulatory standards, and increased need for equipment that supports food packaging and transportation.

The commercial foodservice equipment market size is expected to see strong growth in the next few years. It will grow to $42.95 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to rising urban populations, heightened awareness of food safety and hygiene, the expansion of global food chains, increasing popularity of delivery and takeout services, and growing investment in culinary education and training facilities. Major trends expected during this period include the adoption of advanced technologies, integration of digital ordering and payment systems, remote monitoring and management, compact and space-saving designs, and the use of robotic and automated solutions.

The growth of quick-service and fast-casual restaurants is expected to boost the commercial foodservice equipment market. Quick-service restaurants (QSRs) offer fast food with minimal table service, while fast-casual restaurants provide higher-quality food and a more relaxed dining experience without full table service. The expansion of these restaurant types is driven by increasing consumer demand for convenient, high-quality, and affordable dining options. Commercial foodservice equipment in these establishments helps streamline food preparation, improve efficiency, and ensure high standards of food quality and safety. For example, a June 2023 report by Aviko, a Netherlands-based food company, indicated that the UK fast food industry grew from $26.57 million (£20.61 billion) in 2022 to $28.41 million (£22.04 billion) in 2023. By mid-2023, 45% of UK consumers were dining at fast food establishments, and 13% purchased takeaway food weekly. Therefore, the growth of quick-service and fast-casual restaurants is driving the expansion of the commercial foodservice equipment market.

Leading companies in the commercial foodservice equipment market are focusing on developing innovative products, such as combi ovens, to improve cooking efficiency and versatility. Combi ovens are advanced kitchen appliances that combine steam and convection cooking methods for enhanced efficiency, precision, and versatility. For example, in November 2023, UNOX Inc., a US-based food machinery manufacturer, introduced two new advanced ovens, the CHEFTOP-X and BAKERTOP-X. These ovens are designed to revolutionize performance and user interaction with fast, intuitive, and customizable interfaces, featuring hyper-connectivity functions enhanced by AI. The CHEFTOP-X is intended for gastronomy applications, while the BAKERTOP-X is suited for bakeries and pastry shops. Both ovens include advanced technology, such as voice operation through HEY.Unox and the new OPTIC Cooking accessory, which simplifies cooking by allowing the oven to visually recognize food and start the appropriate program automatically.

In April 2024, Joe Warren & Sons Co. Inc., a US-based food equipment service company, acquired Able Restaurant Equipment Service Inc. for an undisclosed amount. This acquisition represents a strategic move for Joe Warren & Sons to expand its market presence and enhance its service offerings, strengthening its position as a leading provider of food equipment services in the region. Able Restaurant Equipment Service Inc., based in the UK, offers services and parts for commercial food service equipment.

Major companies operating in the commercial foodservice equipment market are Libbey Inc., Cambro Manufacturing Co, The Vollrath Company LLC, Tundra Restaurant Supply, Provisur Technologies Inc., Broaster Company, Blodgett Oven Company, Hatco Corporation, Falcon Foodservice Equipment ltd, Chefs'Toys, Victory Refrigeration, Energy Star, AMTek Microwaves, Adexa Direct, Riddhi Display Equipments Pvt Ltd, TAG Catering Equipment UK Ltd, Bakers Pride, Kitchenrama, Hobart Food Equipment, Roundstone Catering Equipment Ltd, Cater-kwik Ltd, Target Catering Equipment, Canadian Restaurant Supply, Permul Ltd.

North America was the largest region in the commercial foodservice equipment market in 2023. The regions covered in the commercial foodservice equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the commercial foodservice equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Commercial foodservice equipment includes machinery and tools used in professional kitchens and food preparation areas, designed to handle high volumes of food efficiently while ensuring food safety and quality. This category encompasses both heavy-duty equipment and smaller, specialized tools tailored for restaurants, hotels, and catering services.

The main types of commercial foodservice equipment are baking equipment, cooking equipment, ware washing equipment, preparation equipment, holding and storing equipment, beverage equipment, ice equipment, and refrigeration equipment. Baking equipment comprises tools, appliances, and devices used for preparing and baking items such as bread, pastries, and cakes. These products are distributed through both offline and online channels and are utilized by food production facilities and foodservice outlets.

The commercial foodservice equipment market research report is one of a series of new reports that provides commercial foodservice equipment market statistics, including the commercial foodservice equipment industry's global market size, regional shares, competitors with a commercial foodservice equipment market share, detailed commercial foodservice equipment market segments, market trends and opportunities, and any further data you may need to thrive in the commercial foodservice equipment industry. This commercial foodservice equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The commercial foodservice equipment market consists of sales of ovens, food warmers, blenders and mixers, and prep tables. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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