Commercial Catering Equipment Market Report 2024

The commercial catering equipment market size has grown strongly in recent years. It will grow from $11.37 billion in 2023 to $12.03 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth during the historic period can be attributed to several factors such as increasing disposable income, expansion of the global hospitality and tourism sector, migration of populations to urban areas leading to higher demand for food services, a growing need for commercial catering equipment in restaurants and other food services, and a rising number of restaurants, cafes, and quick-service establishments.

The commercial catering equipment market size is expected to see strong growth in the next few years. It will grow to $15.32 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The projected growth during the forecast period can be attributed to several factors such as a growing emphasis on sustainability, increasing demand for equipment that enhances cleanliness and food safety, the rising popularity of cloud kitchens, ongoing urbanization, and rising energy costs. Key trends expected to shape this growth include the integration of the Internet of Things (IoT) in commercial kitchen equipment, innovations in energy-efficient equipment, advanced sanitization features, the adoption of new technologies such as molecular gastronomy, and the development of smart kitchen solutions.

The growing number of restaurants is expected to drive the expansion of the commercial catering equipment market. Restaurants, which are establishments that prepare and serve meals and beverages to customers for payment, are increasing in number due to rising demand for dining out, evolving consumer preferences, and changing lifestyles. Commercial catering equipment is crucial for restaurants to operate efficiently, maintain high food quality, ensure safety, and manage costs. For example, the National Restaurant Association, a US-based government organization, reported a substantial increase in the number of restaurants in 2023, reaching a total of 749,404 establishments - an increase of approximately 625,081 restaurants over two years. Thus, the growing number of restaurants is driving the commercial catering equipment market.

Leading companies in the commercial catering equipment market are focusing on innovative solutions such as hot holding cabinets to meet the evolving needs of the food service industry. A hot holding cabinet, also known as a warming cabinet or hot box, is used in commercial kitchens to keep prepared food at a safe, hot temperature until it is served. For instance, in September 2021, Duke Manufacturing Company, a US-based manufacturer of commercial foodservice equipment, introduced the ReadyFlex hot holding unit in the UK market. This new product accommodates various pan configurations, features multiple heat zones per shelf, and includes built-in connectivity. This connectivity enables seamless interaction with third-party cloud and on-site solutions via Duke’s connected equipment platform (DCEP) and Bluetooth capabilities, facilitating remote recipe management ideal for multi-site operators. Additionally, the enhanced touchscreen interface is designed for greater intuitiveness. The ReadyFlex holding units were featured in the Commercial Kitchen show’s Innovation Challenge, where visitors had the opportunity to experience their capabilities before voting.

In July 2022, Ali Holding S.r.l., an Italy-based food equipment company, acquired Welbilt Inc. for approximately $3.5 billion. This acquisition aimed to strengthen Ali Group's market position, broaden its product offerings, and drive growth through increased scale and efficiency. Welbilt Inc., a US-based company, designs and manufactures food products, machinery, and catering equipment.

Major companies operating in the commercial catering equipment market are Middleby Corporation, Franke Holding AG, Hoshizaki Corporation, Welbilt Inc., Electrolux Professional AB, Rational AG, Bizerba SE & Co. KG, ITW Food Equipment Group, Henny Penny Corporation, Fagor Industrial, Hatco Corporation, Alto-Shaam Inc., Lincat Limited, Imperial Commercial Cooking Equipment, Turbo Air Inc., MKN Maschinenfabrik Kurt Neubauer GmbH & Co KG, Robot Coupe, Waring Commercial, Kent Catering Equipment, Koolmax Group Ltd.

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

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

Commercial catering equipment consists of specialized appliances, tools, and machines designed for use in professional kitchens to efficiently prepare food for large-scale serving. This equipment is built to handle high-volume food preparation, cooking, storage, and serving to meet the demands of commercial kitchens.

The main categories of commercial catering equipment include food handling equipment, refrigeration equipment, food preparation equipment, and other related tools. Food handling equipment specifically refers to tools and machinery used in the preparation, processing, and storage of food to ensure safety and prevent contamination. This equipment is available through various sales channels, including offline and online platforms, and is utilized in multiple settings such as restaurants, hotels, and other commercial foodservice establishments.

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

The commercial catering equipment market consists of sales of refrigeration and storage equipment, food preparation equipment, cooking equipment, and heating equipment. 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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