Hong Kong Food Service Equipment Market

: Demand, Growth Analysis & Opportunity Outlook 2023

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Report ID: 241 | Published On: Feb 13, 2023
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Hong Kong Food Service Equipment Market Segmentation

Our in-depth analysis segmented the Hong Kong food service equipment market in the following segments:

By Product:

Food Preparation Equipment

  • Slicers & Peelers
  • Mixers & Grinders
  • Food Blenders
  • Food Processors
  • Others

Drink Preparation Equipment

  • Drink Blenders
  • Juicers
  • Ice Crushers
  • Others

Cooking Equipment

  • Grills
  • Fryers
  • Ovens
  • Toasters

Refrigerators & Chillers

  • Blast freezers
  • Ice machines
  • Ice cream machines
  • Ice cream cabinets
  • Glass Door Merchandisers

Wash ware Equipment

  • Booster Heaters
  • Dish Washers
  • Disposers
  • Utensils Washers
  • Others

By End-User

  • Full Service Restaurants
  • Quick Service Restaurants
  • Caterers
  • Hotels & Club Restaurants

The study further analysis the Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).

Hong Kong Food Service Equipment Market Size
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Market size and forecast

Food service equipment market of in the country has significantly grown in the past few years and had touched USD 694 Million in 2015. Further the market is expected to garner USD 1.3 Billion by the end of 2023, registering a CAGR of 8.29% during the forecast period i.e. 2016-2023.


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Refrigerators and chillers segment accounted for 50.4% in 2015 in overall food service equipment market. The market share of this segment is expected to grow exponentially on account of growing demand for ice cream dipping cabinets and blast freezers. Low cost and long life span of ice cream dipping cabinets are gaining more traction among the ice cream parlors which is fostering demand for these equipments. Moreover, rising need for storage of vegetables and processed food in large and medium restaurants are increasing the demand for blast freezers. 

Further, increasing penetration of food corners and food junctions in the country on the back of growing consumption of fast food is the major reason which is pushing the restaurant owners towards the food service equipment.

Growth Drivers and challenges

Rise in hotels, food junctions, and hospitals and their increasing demand for food service equipment in order to deliver best quality food, rising concern towards reducing energy consumption and shifting towards eco-friendly equipment are some of the key elements which is expected to pave the market of food service equipment in near future. In addition to this, factors such as rising concern towards health and hygiene among the population, growing culture of consuming ready to cook food, hectic lifestyle of working population owing to urbanization, availability of advanced multi-tasking food service equipment with internet connectivity are some of the major factors likely to foster the demand for food service equipment over the forecast period i.e. 2016-2023. Moreover, rising concern towards proper sanitation and increasing adoption of new equipment for washing and sanitation are expected to propel the demand for food service equipment.

However, slicers, peelers and other food processing equipment which have low shelf life and low quality equipment are hampering the growth of food service equipment market. Apart from this, high cost of cooking and refrigerators equipment and periodic maintenance of this equipment are also expected to restrain the market growth of food service equipment. Conversely, availability of sub-standardized food service equipment by local vendors and complexities associated with the installation of these equipments are curbing the growth of food service equipment market in Hong Kong.    

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Top Featured Companies Dominating the Market

    The key players of food service equipment market are as follows:

    • Dover Corporation
      • Company Overview
      • Key Product Offerings
      • Business Strategy
      • SWOT Analysis
      • Financials
    • Standex International Corporation
    • AB Electrolux
    • Fujimak Corporation
    • Rational AG
    • Illinois Tool Works Inc.
    • Carlisle Companies Incorporated
    • John Bean Technologies Corporation
    • Manitowoc Food Service, Inc.
    • The Middleby Corporation

    Scope and Context

    Overview of the Parent Market

    Analyst View


    The Hong Kong Food Service Equipment Market is segmented as follows:

    • By Product type Market Size and Y-O-Y Growth Analysis
    • By End-user Market Size and Y-O-Y Growth Analysis

    Market Dynamics

    Supply and Demand Risk

    Competitive Landscape

    Porter’s Five Force Model

    Geographical Economic Activity

    Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

    Recent Trends and Developments

    Industry Growth Drivers and Challenges

    Key Information for Players to establish themselves in current dynamic environment                       

In The News

Global Economic Impact

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Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

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