Worldwide Merchandizing Freezers Market is expected to be worth USD 2.2 billion in 2023. Future Market Insights reports say that the market will expand at a projected to grow at CAGR of 3.7% between 2023 and 2033, totaling around USD 3.2 billion by 2033.
Merchandiser freezers are gaining popularity due to increased demand for refrigerated food and beverage products, along with their growing applications in chemicals and pharmaceuticals, the hospitality sector, etc.
Energy consumption of merchandiser freezers 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.
Manufacturing a merchandiser freezer 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 freezers.
Factors that may hinder the growth of the freezer market during the forecast period are the high initial investment and working capital needed to construct a clear ice maker manufacturing plant.
North America region dominated the merchandiser freezer market with maximum revenue share. Significant penetration of ice in the food business, coffee shops, bars, and lounges is 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 2.2 billion |
| Projected Forecast Value (2033) | USD 3.2 billion |
| Growth rate | 3.7% CAGR |
| Forecast period | 2023 to 2033 |
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Merchandiser Freezers Market grew at a CAGR of 2.4% from 2018 to 2022, as per Future Market Insights, a provider of market research and competitive intelligence. Increasing demand for merchandiser freezers across diverse applications such as retail food and beverage stores, pharmaceuticals, chemicals, cold storage, hospitals, etc are driving the global merchandiser freezer market.
The rising adoption of freezers for preserving food and other temperature-sensitive products is boosting the growth of the market. It is estimated that millions of tons of food get wasted globally due to a lack of proper cooling facilities.
Rapid technological advancements in merchandiser freezers have paved the way for the development of smart and energy-efficient walk-in freezers with eco-friendly features. The introduction of these innovative products with low global warming potential (GWP) is anticipated to facilitate the growth in walk-in freezers during the forecast period.
End-user customers prefer to install freezers as they provide flexibility and tailor-made options as per specific requirements. Rising inclination towards these freezers by end-use industries is expected to help the market player capitalize on the market.
Expansion of the Food and Beverage Sector is widening prospects for Merchandizing Refrigerators
Growth in awareness about the importance of maintaining food quality, reducing greenhouse gas emissions, and using energy-efficient producers is likely to drive the freezer market value in the near future.
Rapid expansion in the food and beverage sector is projected to boost the demand for freezers in the next few years. Growth in urban and working populations is also fueling market expansion, as freezers are increasingly employed in various food-producing companies. Rise in the number of ice cream parlors and bars is fueling the usage of freezers to provide custom cooling range options to store cool drinks and ice creams.
Integration of the Internet of Things (IoT) in Freezers
Integration of Internet of Things (IoT) technology in freezers has become increasingly popular in recent years. IoT-enabled freezers allow for remote monitoring, control, and data analysis, providing several benefits to both consumers and manufacturers.
Manufacturers are investing in Research and Development of new technologies to increase their global merchandiser market share, for example- Haier Group offers a 360-degree airflow with dual fan technique for even and multi-directional cooling. Technology allows the cool air to flow throughout the refrigerator and keeps the contents inside the freezer for a longer period of time.
Adoption of Advanced Magnetic Refrigeration Technology to Boost Market Growth
Newly introduced magnetic refrigeration technology is based on the magnetocaloric effect, with a change in temperature induced by applying a reversible magnetic field. The refrigerant is placed in a strong magnetic field, aligning various magnetic dipoles thus lowering the temperature within the equipment. Integration of this magnetic refrigeration technology is cost-efficient, eco-friendly, durable, safe, and reduces overall power consumption enabling its utilization in the merchandiser freezer globally.
Higher Purchasing and Maintenance Cost to Hinder Market Growth
Growth of the market is expected to be hindered owing to the high purchasing cost of the machines. Usage of equipment in commercial applications, the price of the equipment varies from size to size as merchandiser freezers are built to fit in large spaces.
Purchasing and maintenance of such huge equipment become another restraining factor lack of awareness regarding efficient utilization of such refrigeration freezers amongst the customers is another major factor responsible for hampering the merchandiser freezer market growth.
Difficulties in the Recycling of Waste Materials and Gas
Waste generated during the manufacturing of electronic goods and from the used electronic products of metal harms the environment to a larger extent.
Large amounts of metals are used in industrial processes every day, widely used in producing different appliances ranging from undercounter refrigerators to various electronic materials. Metal has become an indispensable and versatile product with a wide range of properties, chemical composition, and applications, which as a result, creates a problem at the time of disposal.
Environment-Conscious Consumers Prefer Eco-Friendly or Sustainable Brands
Environment-conscious consumers prefer eco-friendly or sustainable brands of outdoor apparel to minimize the environmental impact. Key brands are launching sustainable apparel ranges manufactured with organic, recycled, and bio-sourced materials to attract socially responsible people, which is expected to fuel the growth of the outdoor apparel market.
The inclination of Consumers over the Adoption of Multipurpose Refrigerators
A shift in the inclination of consumers toward household refrigerators with built-in ice makers is one of the key industry challenges. Growing market trends 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. High and frequent maintenance of ice maker machines in industrial and commercial sectors is challenging the industry statistics
Expectations of Consumers for More Transparency Across the Entire Value Chain for Provenience of Goods and the Quality of the Materials Used
Consumers are expecting more transparency across the entire value chain as they want to have more information about both the provenience of goods and the quality of the materials used. Key brands are embedding sustainability into their core business strategy to gain a competitive advantage and strengthen business performance.
North America Dominates the Freezers Market
North American region dominates the freezers market and will continue to excel in its trend of dominance during the forecast period owing to the increased focus of the manufacturers on product innovations and increased expenditure for research and development proficiencies in regards to the incorporation of advanced technologies. The North American market for merchandizing freezers market holds a 3.6% CAGR of the market share.
Expansion of Western Europe’s Merchandisers Freezers Market in United Kingdom
The United Kingdom is considered the leading producer of equipment as it plays a vital role in the expansion of Western Europe’s merchandiser’s freezers market and it is expected to continue to be of Europe’s top markets in both growth and production of open-air merchandisers and accessories market.
Growth and Expansion of the Consumer Electronics Industry
Asia-Pacific will register the highest CAGR for the forecast period owing to the rising popularity of brands, growing personal disposable income, growth and expansion of the consumer electronics industry in this region, ever-rising population and rapid globalization, a surge in the adoption of smart and soar powered commercial refrigerators, westernization, and modernization are some major market growth determinants for this region.
Countertop is said to Dominate the Merchandiser Freezer Market
By installation type, demand for countertop merchandizing freezers is expected to rise significantly. The increase in said sales is attributed to the following factors:
Online Retail Store is said to Drive the Merchandizing Freezers Market
Online store segment has been witnessing rapid growth in recent years, primarily due to the increase in the trend of online shopping and the convenience it provides o its consumers.
Online retail stores offer customers a wide range of products and brands to choose from, which is driving the growth of online stores. Online stores offer competitive pricing, which is driving the growth of online websites. Online websites allow customers to easily compare products and prices, which is escalating segmental growth.
Commercial application segment is said to dominate the market
Commercial application segment is anticipated to dominate the industry during the forecast period. Increase in demand for freezers in supermarkets, hypermarkets, and shopping malls, growth in the food and beverage industry, and rise in disposable income of consumers are major factors augmenting the segment.
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 3.7% from 2023 to 2033 |
| Market value in 2023 | USD 2.2 billion |
| Market value in 2033 | USD 3.2 billion |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | USD billion 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, Refrigerant Used, Components, Distribution Channel, Application, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled |
United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, China, Japan, South Korea, Singapore, Thailand, Indonesia, Australia, New Zealand, GCC Countries, South Africa, Israel |
| Key Companies Profiled | TRUE; Migali; Empura; Kelvinator; Nella; Kool-It; Everest; Turbo Air; Omcan; Beverage Air; Hoshizaki Corp. |
| Customization & Pricing | Available on Request |
The market is valued at USD 2.2 billion in 2023.
Kelvinator, Nella, and Kool-It are the prominent market players.
The market is forecast to register a CAGR of 3.7% through 2033.
The market will reach USD 3.2 billion by 2033.
The market captured a CAGR of 2.4% from 2018 to 2022.
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Merchandizing Freezers Market
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