Food Service Equipment Market Size | Trends & Forecast 2031

Q: What is the current and projected market size of the food service equipment market from 2024 to 2031?

The market is valued at USD 36.2 billion in 2024 and is projected to reach USD 58.9 billion by 2031.

Q: What is the expected CAGR of the food service equipment industry between 2024 and 2031?

The food service equipment market is expected to grow at a CAGR of 7.2% during this period.

Q: Which key trends are shaping the future of the food service equipment market?

Trends such as smart equipment, energy efficiency, and compact modular designs are driving market evolution.

Q: What are the main growth drivers of the food service equipment industry?

Key drivers include QSR expansion, rising demand for efficient appliances, and technological innovations.

Q: How does 6W market outlook report help businesses in making decisions?

6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

Q: Do you also provide customisation in the market study?

Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com

Code: MTA4425

Publication Date: Jun 2025

What is the Food service equipment Market Size?

According to 6Wresearch internal database and industry insights, the Global Food Service Equipment Market was valued at USD 36.2 billion in 2024 and is anticipated to exceed USD 58.9 billion by 2031, registering a steady at a CAGR of 7.2% during the forecast period.

The food service equipment market is experiencing substantial growth due to the growing demand for commercial kitchens among the various hospitality segments. Urbanization, foodservice-industry growth, and advancements in kitchen equipment technology drives the market expansion. Sustainability and energy-efficiency concerns also impact purchasing behaviours, and preferences in developed regions.

Major Growth Factors of the Food service equipment Industry

Expansion of quick service restaurants (QSRs)
Rising demand for energy-efficient equipment
Growth in tourism and hospitality sectors
Increasing preference for ready-to-eat meals
Technological advancements in foodservice appliances
Government support for food safety and hygiene standards

Food service equipment Market Trends

Market changes are leaning towards modular and multifunctional products and systems. This trend can serve to make processes more efficient. Additionally, some manufacturers are developing smart kitchen appliances with high automation capabilities and remote monitoring features. Demand for energy-efficient and low emission systems may continue to increase as long as the sustainability trend and regulations still influence the marketing processes and framework.

Emerging Developments in the Food service equipment Industry

Manufacturers are constantly using IoT and AI technologies in equipment to provide superior efficiency, improved productivity, and a better experience for users. The growth of smaller, customizable units to fit tight spaces is trending. There is also a focus on equipment that uses touchless technologies for cleanliness and waste reduction.