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Global Catering Equipment Market to Grow at a CAGR of 5.40% During 2022-2027, Aided by Expansion of Hotels and Restaurant Chains Worldwide

According to a new report by EMR titled, ‘Global Catering Equipment Market Report and Forecast 2022- 2027’, the market witnessed a moderate growth in 2021. It is expected to further grow at a CAGR of 5.40% in the forecast period of 2022-2027.

The expansion of hotels, restaurants, and others, owing to the growing consumer interest in dining-out is driving the growth of the global catering equipment industry. In addition to this, the increasing investments by restaurant and hotel owners to enhance the dining experience of consumers are anticipated to propel the demand for high end and innovative catering equipment in the forecast period. Meanwhile, the rising number of catering business start-ups in emerging economies are expected to further support the growth of the market. The popular fast food chains like Domino's Pizza, Inc. (NYSE: DPZ), McDonald's (NYSE: MCD), and others are looking to expand their consumer base in emerging nations like India to enhance their business and geographical reach.

Further, the increasing inclination towards online purchasing owing to the comfort of door-step delivery is leading to the expansion of online channels. The easy availability of modern, durable, and premium products such as dining sets, barware, and others, through these channels is enhancing their popularity among end users, which, in turn, is expected to aid the market. In terms of region, North America is likely to account for a significant share in the market and is anticipated to witness a steady growth in the forecast period. The high consumer purchasing power and improved standards of living are projected to provide impetus to the market in the region.

Market Breakup by Type, End Use, Distribution Channel, and Region:

  • The market is segmented based on type into food handling equipment, cleaning equipment, and catering accessories, among others. Among these, the food handling equipment segment is further divided into food containers, food conveyors, cabinets, and trolleys, among others.
  • Based on end use, the market is divided into full-service restaurants and hotels, quick-service restaurants, and caterers, among others.
  • On the basis of distribution channel, the industry can be segmented into offline and online.
  • Region-wise, the global market for catering equipment can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for catering equipment is being driven by the growth of the hospitality sector and rising consumer interest in dining-out.
  • The proliferation of restaurants, hotels, and others is propelling the demand for catering equipment.
  • The rising investments by the leading fast-food chains in emerging countries to expand their businesses are expected to provide an impetus to the market growth.
  • The market is estimated to be further aided by the growing demand for high-quality and premium catering accessories.

Key Offerings of the Report:

  • The EMR report gives an overview of the global catering equipment market for the periods (2017-2021) and (2022-2027).
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the types, end uses, distribution channels, and major regions of catering equipment.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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