Latin America Food Service Equipment Market Size & Outlook
Latin America food service equipment market, 2018-2030 (US$M)
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Latin America food service equipment market highlights
- The Latin America food service equipment market generated a revenue of USD 2,208.8 million in 2023.
- The market is expected to grow at a CAGR of 7.8% from 2024 to 2030.
- In terms of segment, kitchen purpose equipment was the largest revenue generating product in 2023.
- Kitchen Purpose Equipment is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Mexico is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 2,208.8 million |
| Market revenue in 2030 | USD 3,732.9 million |
| Growth rate | 7.8% (CAGR from 2023 to 2030) |
| Largest segment | Kitchen purpose equipment |
| Fastest growing segment | Kitchen Purpose Equipment |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Kitchen Purpose Equipment, Refrigeration Equipment, Ware Washing Equipment, Food Holding & Storing Equipment, Other Product |
| Key market players worldwide | Electrolux AB Class B, Dover Corp, Haier Smart Home Co Ltd ADR, Smeg, The Middleby Corp, Ali Group, Duke Manufacturing |
Other key industry trends
- In terms of revenue, Latin America region accounted for 6.1% of the global food service equipment market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 22,778.5 million by 2030.
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Food Service Equipment Market Scope
Food Service Equipment Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America food service equipment market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to food service equipment market will help companies and investors design strategic landscapes.
Kitchen purpose equipment was the largest segment with a revenue share of 42.58% in 2023. Horizon Databook has segmented the Latin America food service equipment market based on kitchen purpose equipment, refrigeration equipment, ware washing equipment, food holding & storing equipment, other product covering the revenue growth of each sub-segment from 2018 to 2030.
The growing urbanization in South Africa is significantly influencing lifestyle changes, notably in dining out habits. Further, there is a shift toward varied dining experiences, prompting the food service industry to expand and adopt modern practices to meet these evolving consumer preferences.
Restaurants and food service providers are compelled to upgrade their kitchen appliances and invest in the latest equipment to efficiently cater to the growing clientele and ensure food safety, quality, and innovation in their offerings.
The requirement spans a broad spectrum, from advanced cooking appliances to food storage and handling equipment, aiming to boost operational efficiency and customer satisfaction. Hence, the above-mentioned factors will propel the food service equipment market growth in South Africa over the forecast period.
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Target buyers of Latin America food service equipment market databook
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Our clientele includes a mix of food service equipment market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America food service equipment market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America food service equipment market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America food service equipment market size, by country, 2018-2030 (US$M)
Latin America Food Service Equipment Market Outlook Share, 2023 & 2030 (US$M)
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