SOURCE: SBI

SBI

August 31, 2009 10:17 ET

Growth in Global Foodservice Equipment Market: Five Key Factors Beyond the Recession

NEW YORK, NY--(Marketwire - August 31, 2009) - Even with the global recession, the $20 billion market for foodservice equipment is formidable and is expected to grow on the strength of five vital factors highlighted in "World Market for Food Service Equipment, 5th Edition" by leading industrial market research publisher SBI.

The five factors include environmental issues, lifestyle factors centered on consumers' food-related spending away from home, replacement foodservice equipment, new menu offerings and food trends that require the purchase of new equipment by foodservice operators, and technological innovations.

Within the environmental issues factor, energy efficiency and pollution reduction are particularly important to foodservice operators and foodservice equipment manufacturers as they can impact the bottom line, companies' images, and consumer perceptions. Such economic and environmental motivations can impact the sales of refrigeration and warewashing equipment, which are notoriously high users of energy.

SBI asserts that short-term industry growth will be driven by foodservice operators replacing old equipment. Beyond being a mere life cycle decision, replacing old equipment with new state-of-the-art technology ties into an energy efficient strategy for many operators seeking to reduce overall operating costs on their electric, gas, and water bills in today's difficult economic conditions.

"Although environmentalism is important, the economics of using less energy is a more immediate concern to foodservice operators," says Shelley Carr, publisher of SBI. "Today's energy efficient equipment may pay for itself in a relatively short period of time, driving sales because of the economy rather than in spite of it."

"World Market for Food Service Equipment, 5th Edition" makes important predictions and recommendations regarding the future of the global food service equipment industry, and pinpoints ways current and prospective players can capitalize on existing trends and spearhead new ones. Comprehensive data on the market, including U.S. shipments, imports and exports, international end-use markets (including consumers), and industry statistics are provided. The report also identifies key trends affecting the marketplace and profiles major manufacturers, along with their strategies used to maximize growth and profitability. For further information, visit: http://www.sbireports.com/redirect.asp?progid=71174&productid=1926701.

About SBI

SBI (Specialists in Business Information) publishes research reports in the industrial, energy, building/construction, automotive/transportation and packaging markets. SBI also offers a full range of custom research services. To learn more, visit www.sbireports.com. Find us on Twitter: http://twitter.com/SBI_Reports.

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