Pune, India -- (SBWIRE) -- 02/01/2018 -- Market Research Future published a research report on "Food Service Equipment Market Research Report- Forecast 2023" – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Market Synopsis of Global Food Service Equipment

Food service equipment are widely used for food handling and processing applications, and are popular in full-service restaurants. The equipment plays a vital role in food service industry for preparing and serving a variety of food items.

The growth of global food service equipment market can majorly be attributed to growth of hospitality, industry resulting in rising number of hotels and restaurants. Increasing demand for energy-efficient products and growing demand for quick service restaurants is also expected to boost the market growth. Moreover, the rising number of hotel industry is also augmented by increasing tourism. However, high capital investment is the major restraint that could hinder the growth of the market.

The global food service equipment market is expected to grow at a CAGR of around 5.16% during the period.

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Regional Analysis of Global Food Service Equipment Market

North America accounted for the largest share in 2016. Factors such as the wide adoption of technologically advanced products and high penetration of products have boosted the growth in the region. It is followed by Asia-Pacific, which is expected to be the fastest growing region during the forecast period. The booming tourism industry and vast dining out options for consumers are expected to propel the market growth in the region.

Key Players

Meiko (Germany), Hobart Corporation (U.S.), Ali Group S.p.A (Italy), Fujimak Corporation (Japan), Manitowoc Company Inc. (U.S.), Hoshizaki Electric Co., Ltd. (Japan), Dover Corporation (U.S.), Duke Manufacturing Co. Inc. (U.S.), Tupperware Brands Corporation (U.S.) and Electrolux AB (Sweden) are some of the leading players operating in the global food service equipment market.

Target Audience

- Manufactures
- Raw Materials Suppliers
- Aftermarket suppliers
- Research Institute / Education Institute
- Potential Investors
- Key executive (CEO and COO) and strategy growth manager

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Scope of the Report

This study provides an overview of the global food service equipment market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for Asia-Pacific, North America, Europe and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global food service equipment market by its product, by end-user and regions.

By Product
- Cooking Equipment
- Storage & Handling Equipment
- Warewashing Equipment
- Food Holding & Serving Equipment
- Others

By End-User
- Full Service Restaurants
- Quick Service Restaurants
- Caterers
- Hotels & Clubs
- Others

By Region
- Asia Pacific
- North America
- Europe
- Rest of World

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