“Asia-Pacific
Food Service Equipment Market: Asia Pacific Demand Analysis & Opportunity
Outlook 2023”
Asia Pacific food service equipment
market is segmented into product such as food preparation equipment, drink
preparation equipment, cooking equipment, refrigerators & chillers and wash
ware. Among these segments, cooking equipment segment is expected to occupy top
position in overall food service equipment market during the forecast period. Growing
number of restaurants in Asia Pacific are expected to drive the growth of the cooking
equipment market. Moreover, wide range and development of advanced cooking
equipment is expected to trigger the growth of the cooking equipment market
over the forecast period.
Asia Pacific food service equipment
market is expected to flourish at a significant CAGR of 6.8% during the
forecast period. Factors such as availability of low cost and diverse food
service equipment are anticipated to impel the growth of the Asia Pacific food
service equipment market. Further, evolving trend of increasing consumer
spending on eating out is strengthening the restaurant market which further is
anticipated to drive the growth of the Asia Pacific food service equipment
market. Moreover, the Asia Pacific food service equipment market is expected to
garner noteworthy revenue by the end of 2021.
China dominated the overall Asia
Pacific food service equipment market in 2015. Factors such
as increasing disposable income, rising demand for foreign foodstuffs and
urbanization are some of the factors which are bolstering the growth of the
food service equipment market in China. Moreover, expansion of fast food restaurants
such as Burger King, KFC and others in China is expected to drive the growth of
China food service equipment market during the forecast period. On August 8,
2017, McDonalds announced that the company will be expanding its presence in
China by increasing their number of restaurants to 4500 by the end of 2022.
This factor is envisioned to bolster the growth of the Asia Pacific food
service equipment market.
Growth
of Food Industry
Growth in global trade and
adoption of western cultures has also impacted the eating patterns of the
people and driving the growth of the fast food industries in the region.
Moreover, the number of fast food restaurants has significantly grown in China,
reaching to about 4260 locations in China. Further, number of fast food and
other restaurants is anticipated to increase in Asia Pacific which is
anticipated to provide robust growth to the food service equipment market
during the forecast period.
Advancements
in Food Service Equipment
Technological advancement in
food service equipment such as high efficiency is fuelling the growth of the
food service equipment market. Moreover, advancement in technology is also
lowering the price of food service equipment which further is expected to boost
the demand for food service equipment.
However, high availability of
low quality food service equipment by local vendors and high capital
requirement are some of the factors which are anticipated to inhibit the growth
of the Asia Pacific food service equipment market.
The report titled “Food Service Equipment Market: Asia
Pacific Demand Analysis & Opportunity Outlook 2021” delivers detailed overview of
the Asia Pacific food service equipment market in terms of market segmentation by
product, by end user and by region.
Further, for the in-depth
analysis, the report encompasses the industry growth drivers, restraints,
supply and demand risk, market attractiveness, BPS analysis and Porter’s five
force model.
This report also provides the
existing competitive scenario of some of the key players of the Asia Pacific food
service equipment market which includes company profiling of AB Electrolux, Hobart
Corporation, Manitowac Company Inc., Fujimak Corporation, Duke Manufacturing
Co. Inc., Rational AG, Sia Haut, Town Food Service Equipment Co. Inc., New Asia
FSE Inc. and Franke Foodservice Systems. The profiling enfolds key information of the companies which
encompasses business overview, products and services, key financials and recent
news and developments. On the whole, the report depicts detailed overview of
the Asia Pacific food service equipment market that will help industry
consultants, equipment manufacturers, existing players searching for expansion
opportunities, new players searching possibilities and other stakeholders to
align their market centric strategies according to the ongoing and expected
trends in the future.
About Research
Nester
Research
Nester is a leading service provider for strategic market research and
consulting. We aim to provide unbiased, unparalleled market insights and
industry analysis to help industries, conglomerates and executives to take wise
decisions for their future marketing strategy, expansion and investment etc. We
believe every business can expand to its new horizon, provided a right guidance
at a right time is available through strategic minds. Our out of box thinking
helps our clients to take wise decision so as to avoid future uncertainties.
Read more Information: https://www.researchnester.com/reports/asia-pacific-food-service-equipment-market-global-demand-analysis-opportunity-outlook-2023/245
Contact for more
Info:
Ajay
Daniel
U.S.
+1 646 586 9123
U.K.
+44 203 608 5919
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