Study Pegs Global Foodservice Equipment And Supplies Market At US$35 Billion

A recently released study from the U.S.-based research firm Transparency Market Research estimates the global market for foodservice equipment and supplies was US$35 billion in 2013. The firm forecasts that increasing demand for E&S in Asia and other developing markets will drive a cumulative average annual growth rate of 4.5% between now and 2020, pushing the total global market to nearly $48 billion. They estimate market growth was 5.3% in 2014. (Foodservice Equipment Reports currently estimates E&S growth in the U.S. and Canada at 4.4% for 2014.)

On a geographic basis, TMR estimates North America has the largest share of E&S sales, followed by Europe, Asia/Pacific and the rest of the world (RoW). Growth in North America and Europe, in spite of more mature foodservice infrastructures, is being driven by technological innovation and increasing food-safety and energy-reduction standards. Asia/Pacific and RoW are the fastest-growing regions, as the markets race to build out commercial units and institutional facilities.

The analysis posits that the manufacturer base for E&S is globally quite consolidated, with big American, European and Japanese companies dominating global sales.

The study breaks down the market in terms of product categories and geographies, analyzes drivers, opportunities, restraints and the value chains.

Information on the study and samples, are available here.

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