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KEY NOTE CATERING EQUIPMENT : May 2005

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EXECUTIVE SUMMARY

Key Note estimates that the UK market for catering equipment was worth around £609m at manufacturers' selling prices (msp) in 2004, which was 3.9% up on the 2003 value. Sales remained sluggish in the first half of 2004 but were stronger in several sectors during the second half of the year.

The buyers of catering equipment are varied and include pubs, hotels, restaurants, fast-food and takeaway outlets, contract caterers/foodservice management companies, supermarkets, petrol forecourt outlets, leisure venues and a host of new and other non-traditional retail outlets.

The market, as defined in this report, covers five main areas: cooking equipment, food-handling equipment, food-preparation equipment, refrigeration equipment and `other' catering equipment. This equipment is used to store, prepare, cook, display and serve food and to wash food, utensils and crockery. The best-performing sectors in 2004 were cooking equipment and refrigeration equipment.

Among the factors affecting the industry in 2004 were sharp increases in the cost of raw materials, especially steel. Although this has pushed up the costs of production, the highly competitive nature of the market makes it difficult to pass these increases on by raising prices. Some sectors of the industry have also been affected by the rationalisation or restructuring strategies of important buyers, which have caused new investments in catering equipment to be shelved or postponed. Any delay in the signing of new contracts can have a major impact on the financial performance of some manufacturers.

Catering equipment that saves energy as well as being efficient was much in demand in 2004, as was equipment that produces the healthier food options now demanded by many consumers. Other popular lines included compact cooking equipment that serves the needs of smaller catering outlets, coffee machines, chiller compartments and other beverage-making systems that meet the needs of the growing number of coffee shops and sandwich shops on the high street. The increased use of preprepared meals and snacks has helped sales of microwave ovens.

Sales of catering equipment are forecast to rise again in 2005 and demonstrate further slow but steady growth to 2009. New product launches that meet caterers' and consumers' requirements for healthier food cooking are expected to boost sales, as is growth in the catering and hospitality market.

TABLE OF CONTENTS

Executive Summary

1. Market Definition

REPORT COVERAGE

MARKET SECTORS

Cooking Equipment

Food-Handling Equipment

Food-Preparation Equipment

Refrigeration Equipment

Other Catering Equipment

MARKET TRENDS

Household Expenditure on Restaurants and Hotels

Table 1: UK Household Expenditure on Restaurants and Hotels by Value at Current Prices (£bn), 2000-2004

Catering and Hospitality Trends

Table 2: The Total UK Catering and Hospitality Market by Value at Current Prices (£bn at rsp), 2000-2004

Table 3: The Total UK Catering and Hospitality Market by Type of Outlet by Value at Current Prices (£m at rsp), 2000-2004

Public Houses

Hotels

Restaurants

Fast-Food and Takeaway Outlets

Contract Catering and Foodservice Management

Holiday Camps, Theme Parks, and Camping and Caravan Sites

Licensed Clubs

Price Pressures

Impact of the Healthy Eating Trend

Equipment Life Cycles

New Markets Show Growth

ECONOMIC TRENDS

Population

Table 4: UK Resident Population Estimates by Sex (000), Mid-Years 2000-2004

Gross Domestic Product

Table 5: UK Gross Domestic Product at Current and Annual Prices (£m), 2000-2004

Inflation

Table 6: UK Rate of Inflation (%), 2000-2004

Unemployment

Table 7: Actual Number of Unemployed Persons in the UK (million), 2000-2004

Household Disposable Income

Table 8: UK Household Disposable Income Per Capita (£), 1999-2003

MARKET POSITION

Table 9: Trends in the UK Catering Equipment and Catering and Hospitality Markets by Value at Current Prices (index 2000=100), 2000-2004

Overseas

2. Market Size

THE TOTAL MARKET

Table 10: The Total UK Catering Equipment Market by Value at Current Prices (£m at msp), 2000-2004

Table 11: The Total UK Catering Equipment Market by Sector by Value at Current Prices (£m at msp and %), 2004

BY MARKET SECTOR

Cooking Equipment

Table 12: The UK Cooking Equipment Sector by Value at Current Prices (£m at msp and %), 2000-2004

Food-Handling Equipment

Table 13: The UK Food-Handling Equipment Sector by Value at Current Prices (£m at msp and %), 2000-2004

Food-Preparation Equipment

Table 14: The UK Food-Preparation Equipment Sector by Value at Current Prices (£m at msp and %), 2000-2004

Refrigeration Equipment

Table 15: The UK Refrigeration Equipment Sector by Value at Current Prices (£m at msp and %), 2000-2004

Other Catering Equipment

Table 16: The UK Other Catering Equipment Sector by Value at Current Prices (£m at msp and %), 2000-2004

3. Industry Background

RECENT HISTORY

INDUSTRY SYNOPSIS

Table 17: Average Financial Performance for Manufacturers of Food, Beverage and Tobacco Processing Machinery (£000, % and £), 2005

NUMBER OF COMPANIES

EMPLOYMENT

REGIONAL VARIATIONS IN THE MARKETPLACE

DISTRIBUTION

HOW ROBUST IS THE MARKET?

LEGISLATION

KEY TRADE ASSOCIATIONS

Catering Equipment Distributors Association

Catering Equipment Suppliers Association

European Federation of Catering Equipment Manufacturers 31

European Foodservice Equipment Distributors Association

North American Association of Food Equipment Manufacturers

4. Competitor Analysis

THE MARKETPLACE

MARKET LEADERS

Aga Foodservice Group PLC

Company Structure