Key Drivers of the Used Restaurant Equipment Industry: A Comprehensive Overview

The target audience for the used restaurant equipment market would certainly be the SMEs. On that note, it has been observed that the SME’s that are mainly into cookie production, and those dealing with popcorn manufacturing are making use of the used kitchen equipment.

The used restaurant equipment market is valued at US$ 6664.2 million as on 2023. The market is projected to expand at a CAGR of 7.2% during the forecast period, and is expected to reach a valuation of US$ 13356.6 million by 2033.The market had a valuation of US$ 6234.1 million in 2022.

Apart from that, the street food vendors are also making use of the used restaurant equipment and the used catering equipment because of the ease of use coupled with the affordability factor that is associated with the used restaurant equipment.

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Key Drivers

Rising Demand for High-Tech Equipment Spurs Market Growth

The surge in demand for cutting-edge food service equipment is poised to drive significant expansion in the market. With increasing concerns regarding food safety and the growing popularity of smart kitchen gadgets, there is a heightened interest in advanced machinery. The advent of technologies such as the Internet of Things (IoT), Big Data, and Industry 4.0 has catalyzed the emergence of smart food businesses, fostering the development of technologically advanced equipment. These innovations enable the attainment of higher food safety standards, reduced food waste, improved traceability, cost optimization, and mitigation of risks associated with alternative food service methods.

Integration of Automated Technologies Fuels Market Expansion

Manufacturers of restaurant equipment are focused on enhancing food quality while maintaining affordability, driving the incorporation of automated technologies. Remote maintenance and self-diagnosis features have been introduced to facilitate connected and smart operations of used kitchen equipment. Ensuring food safety requires proper sterilization, temperature control, and regular cleaning of utensils. To meet consumer demands, companies are innovating with AI and IoT-enabled offerings, such as Samsung’s IoT-enabled refrigerator with voice control.

Challenges in Market Expansion Due to High Costs of Cutting-Edge Equipment

Despite the potential for growth, the exorbitant prices of cutting-edge equipment present a barrier to market expansion. The implementation of automated food service devices necessitates skilled workers and infrastructure, leading to higher setup and maintenance costs. This elevated cost of entry complicates the adoption of advanced machinery and hampers market accessibility for new entrants. Consequently, efforts to streamline costs and enhance affordability are essential to drive broader adoption of high-tech equipment in the used restaurant equipment market.

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Key Companies Profiled

  • Machineseeker Group GmbH
  • ca
  • Bid on Equipment
  • Texas Restaurant Supply
  • Lauro Restaurant Equipment
  • Gillette Restaurant Equipment
  • Alternative Sales Corp
  • SilverChef
  • March Quality
  • Central Products LLC
  • Rose’s Equipment

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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About the Author

Ronak Shah

Associate Vice President at Future Market Insights is deeply committed to uncovering actionable insights for consumer and food and beverage players. She brings a unique blend of analysis, industry trends, and consumer behavior to put data into perspective.

What she makes out of data becomes a delight to read. She has authored many opinions, including for publications like Process Industry Informer and Spinal Surgery News, as she understands the market pulse and consumers' shifting preferences.

She likes to bring experts to a roundtable to weigh the impact of a trend on an industry. Catch up with her discussion on the impact of AI in packaging.

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