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The Asia Pacific Food Service Equipment Market Size is anticipated to experience a growth of 6.8% CAGR during the forecast period (2016 - 2022).
Food service equipment market consists of cooking equipment, storage & handling, ware washing, food & beverage preparation equipment, and serving equipment. Companies into manufacturing of foodservice equipment have considerably improvised the product offerings, as the demand for technologically advanced kitchen equipment is growing steadily.
Living standards of people in the developing regions have given rise to restaurants and cafes, which has contributed to the investments in the food industry. With stringent government regulations about energy consumption and gas emission, the demand for energy efficient products would witness significant growth. High Quality food & services, with better food costing, and management systems have gathered consumer attention. Various types of restaurants like all day dining restaurants, fine dining restaurants, specialty restaurants have witnessed prominent growth in the market.
In Addition to this, increase in the number of lounges, bars, room dining, conference halls, ball rooms, and others like food courts have also contributed in the growth of hospitality industry. Additionally, growth in tourism industry in different countries all over the world would also help in the growth of food service equipment market. The report segments the Asia-Pacific food service equipment market based on product type, end users, and Country.
Based on product types, the market is segmented into cooking equipment, warewashing equipment, storage & holding equipment, food & beverage preparation equipment, and serving equipment. The Asia-Pacific food service equipment market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia-Pacific. Asia-Pacific is anticipated to be the fastest growing market growing at a CAGR of 7.3%.
Based on end users, the market is segmented into full-service restaurants & hotels, quick-service restaurants & pubs, and caterers. The major players profiled in this report include Haier Group Corporation, AB Electrolux, Duke Manufacturing Co. Inc., Dover Corporation, Illinois Tool Works (ITW) Inc., The Manitowoc Company, Inc., The Middleby Corporation, and Fujimak Corporation.