The global hotel ice dispensers market is expected to be worth USD 3,700 million in the year 2023. In accordance with Future Market Insights, the market will expand at a 6.8% CAGR from 2023 to 2033, reaching a value of USD 7,143.6 million by 2033.
Energy consumption of ice makers stays the primary issue that may have the most influence on consumer decisions due to rising electricity costs and environmental concerns.
Manufacturers are using technology solutions to optimize electricity use in ice makers and introducing energy-efficient ice makers to attract a bigger client base. Producers in the ice maker market offer ice maker accessories, like ice totes, ice scoops, and ice caddies, to distinguish themselves from the market’s intense rivalry in addition to providing energy-efficient ice makers.
Making an ice maker requires specialized work and professional knowledge, in addition to being expensive. High manufacturing costs result in increased product pricing, further inhibiting market expansion. Large expenditures are also necessary to create flexible production lines that adapt to changing consumer demand for different ice makers.
One of the main factors that may hinder the growth of the ice maker market during the forecast period is the high initial investment and working capital needed to construct a clear ice maker manufacturing plant.
North America region dominated the ice maker market with maximum revenue share. The significant penetration of ice in the food business, coffee shops, bars, and lounges are a major factor in the expansion of the ice maker market. Regional market expansion is anticipated to be driven by a rise in the adoption of modular kitchens with high-tech appliances in the commercial and residential sectors.
| Attributes | Details |
|---|---|
| Projected Forecast Value (2023) | USD 3,700 million |
| Projected Forecast Value (2033) | USD 7,143.6 million |
| Growth rate | 6.8% CAGR |
| Forecast period | 2023 to 2033 |
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Hotel ice dispensers market grew at a CAGR of 5.8% from 2018 to 2022, as per Future Market Insights, a provider of market research and competitive intelligence.
Hotel ice dispensers market mainly focuses not only on the surging food service, beverage, and hotel industry but also is found to surge in the healthcare industry for treating swelling and pain.
Usage of ice dispensers has not only helped hoteliers with their quick services but also with storing perishable and frozen food in their hotels and quick service restaurants.
Growing Foodservice & Restaurants Industry to Augment the Demand
Restaurant sector has expanded rapidly due to the strengthening of the global economy, the rise in discretionary spending, and the increased speed of consumer life.
The expansion of the market for ice makers is likely to be stimulated by the rapid expansion of the quick-service restaurant industry. The use of ice makers for food preservation is projected to increase in the next years in addition to the changing growth characteristics of the food retailing industry and the rising popularity of e-commerce.
Surging Frozen Food Market to Aid the Growth
Frozen food manufacturers make use of ice cubes to increase the shelf life of frozen food. The market is also experiencing massive technological upgradation, which is expected to massively boost the sales of hotel ice dispensers during the forecast period.
Increasing Disposable Income and Changing Lifestyle
Increase in disposable income has led to a change in the lifestyle of the current generation which has consequently led to an increase in the emergence of quick service restaurants and cafes which are some of the major factors that help to drive the growth of the market.
The change in lifestyle because of rapid urbanization has led to more and more people consuming food and beverages from such restaurants, as they are left with almost no time to prepare food by themselves. High initial level of investment and maintenance costs are some of the major factors restraining the growth of the hotel ice dispenser market.
Inclination of Consumers over the Adoption of Multipurpose Refrigerators
Shift in the inclination of consumers toward household refrigerators with built-in ice makers is one of the key industry challenges. The growing market trend and preference for multi-purpose refrigerators over specialized ice-making machines that only produce ice are restricting the adoption of ice-maker machines in residential applications. Frequent maintenance of ice maker machines in industrial and commercial sectors is challenging the industry statistics.
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Thriving Beverage Sector makes North America a lucrative Hotel Ice Dispenser Market
North American hotel ice dispenser market is growing rapidly with new players and products entering the market on a regular basis with a market share of 40% in the region. The growth is being driven by the increasing demand for ice in the food and beverage industry as well as the need for more efficient and cost-effective solutions for ice production.
One of the major trends is the movement towards energy-efficient and environment-friendly solutions. This is driven by both government regulations and consumer preferences. Many manufacturers are now offering ice dispensers that use less energy and produce less waste.
Ice-based Beverages are Just the Tip of the Iceberg for the European Hotel Ice Dispenser Market
Hotel ice dispenser market in Europe is growing at a rapid pace due to the increasing demand for ice-based beverages. The market is expected to grow significantly in the coming years. The major players in the market are investing heavily in research and development to gain a competitive edge and ensure that the dispensing machines produce ice of any shape.
United Kingdom is said to have 22% of the European market share where the market is investing heavily in marketing and promotional activities for gaining a large share of the market.
Booming of the Non-alcoholic Beverage Market makes the Asia Pacific a significant Hotel Ice Dispenser Market
China is said to lead the Asia Pacific market with 32% of the total market share. Market growth can be attributed to the regions booming hospitality industry and increasing demand for ice in food and beverage applications.
Being a prominent market for non-alcoholic beverages, the Asia Pacific region presents numerous opportunities for the market. An increasing number of health-conscious customers are replacing chilled beers with bottled water and fruit juices, thus making the market seems to hit the sweet spot by serving these to its customers.
Modular is said to Dominate the Hotel Ice Dispenser Market
Modular ice maker segment holds a prominent revenue share in the ice maker market. Modular ice makers are available in various sizes and create vast quantities of ice, enhancing their demand among large businesses such as food services, hospitals, and others.
Manufacturers of commercial ice machines produce these ice makers more frequently than any other sort. They are a good alternative for most organizations because they provide numerous options in size and square footage.
Full-size Cube Shape will dominate the Market
Full-sized cube ice is expected to dominate the market as it has small size and is also available in medium size, which is comfortable for consumers to use in any kind of food preparation which drives the growth of the market. Thus, these facts attract consumers and hence help the market to grow rapidly in the coming years.
Some of the prominent players in the global market are
Some of the important developments of the key players in the market are
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 6.8% from 2023 to 2033 |
| Market value in 2023 | USD 3,700 million |
| Market value in 2033 | USD 7,143.6 million |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | USD million for Value and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Installation Type, Cooling method, Shape, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East & Africa |
| Key Countries Profiled | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, Indonesia, Singapore, Thailand, China, Japan, South Korea, Australia, New Zealand, GCC Countries, South Africa, Israel |
| Key Companies Profiled | Suwhwea; aoksee; Avantco Ice Machines; Cornelius; Follett Corporation; Hoshizaki; Ice-O-Matic; Manitowoc Ice; Scotsman Ice Systems; Servend; iceValet; Summit Appliances |
| Customization Scope | Available on Request |
The market is valued at USD 3,700 million in 2023.
The market is estimated to reach USD 7,143.6 million by 2033.
The market is forecasted to register a CAGR of 6.8% through 2033.
The market recorded a CAGR of 5.8% by 2022.
The surging frozen food market to augment growth.
| Projected Forecast Value (2023) | USD 80.9 million |
|---|---|
| Projected Forecast Value (2033) | USD 133.9 million |
| Growth rate (2023 to 2033) | 5.16% CAGR |
| Market Value (2023) | USD 1.3 billion |
|---|---|
| Market Projected Value (2033) | USD 2.3 billion |
| Market CAGR (2023 to 2033) | 6.0% |
| Estimated Market Size (2023) | USD 1.86 billion |
|---|---|
| Projected Market Size (2033) | USD 3.03 billion |
| Growth Rate (2023 to 2033) | 5% |
| Market Value (2023) | USD 1.36 Billion |
|---|---|
| Market Projected Value (2033) | USD 1.8 Billion |
| Market CAGR (2023 to 2033) | 3.1% |
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Hotel Ice Dispensers Market
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