In 2023, the worldwide nugget ice machines market is expected to be worth USD 80.9 million. In accordance with Future Market Insights, the market will expand at a 5.16% CAGR from 2023 to 2033, reaching a value of USD 133.9 million by 2033.
The nugget ice machine market is expected to rise because of the increasing demand for ice in developing countries for its utilization in their daily food. Growing food services, beverage, and hotel industries give rise to the nugget ice machine market.
The nugget ice machine market is growing with the increasing use of ice in swelling, pain and heat healing, and other treatment purposes in hospitals and clinics. The healthcare industry fuels the growth of the ice machine market through the increasing use of ice in several critical medical conditions.
High prices of ice makers may restrain the growth of the market. Setting up an appropriate ice machine for a particular business requires expertise and substantial investments and these machines require more space than most other appliances, leading to constant cleaning, thus impeding global growth.
Manufacturing an ice maker is becoming a functional work with professional knowledge, inclusive of being expensive. The high manufacturing costs do increase product pricing, further constraining the market expansion. Hefty expenditures are also necessary for creating flexible production lines that will adapt to changing consumer demand for different ice makers.
Rising demand for energy-efficient ice machines in the healthcare industry would drive sales. Sustainable and energy-efficient nugget ice machines are used to reduce water and electricity consumption.
| Attributes | Details |
|---|---|
| Projected Forecast Value (2023) | USD 80.9 million |
| Projected Forecast Value (2033) | USD 133.9 million |
| Growth rate | 5.16% CAGR |
| Forecast period | 2023 to 2033 |
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Global nuggets ice machines market grew at a CAGR of 3.5% from 2018 to 2022, as per Future Market Insights, a provider of market research and competitive intelligence.
Nugget ice machine markets mainly focus on supplying high-quality goods. They are striving to offer cost-effective service and maintenance warranties.
Manufacturers are concentrating on producing nugget ice makers with low usage of power. It might save modern consumers money on additional electricity costs. The nugget ice machines are being upgraded to fulfill the demand for automated goods as science and technology advance.
Growing Food Service & Restaurants Industry
Restaurant sector 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.
Usage 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.
A broad range of commercial uses of ice makers
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.
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High investments are required at the initial stage
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.
Prevalence of Home Bars
Rising preference for home bars in many regions like India, Brazil, and others is expected to open up new opportunities for the players in the market. Home bars are highly preferred today during festive seasons and celebrations.
The development of such concepts is expected to positively impact the ice makers’ market. With the rise in the prominence of the concept, the demand for ice maker machines from household sectors is likely to positively impact the size of the nugget ice machine market growth.
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Increase in adoption of gel packs
A rise in the adoption of gel packs used as an alternative coolant agent instead of traditional ice is likely to impact the market growth, where the adoption of such alternatives will reduce ice consumption indirectly impacting the demand for nuggets ice machine market.
Decreased discretionary spending amid the novel coronavirus outbreak from the food industry has also temporarily lessened the demand.
Dominance of healthcare clinics
North America is said to have the dominant number of healthcare clinics and it is one of the larger market shares for ice makers. The increase in the alcoholic beverage market in North America gives rise to the demand for the nugget ice machine market. It is accounted that 85% of people in North America prefer to drink alcoholic beverages thus, giving rise to the nugget ice machine market.
Maintenance of good food quality in shopping malls, convenient stores,etc
The increase in demand for shopping malls, convenience stores, and supermarkets have given rise to the ice maker market under Asia Pacific region. Ice is largely required in maintaining the good quality of food products in shopping malls and convenience stores. Along with the sedentary lifestyle and increase in disposable income of the people in this segment, this gives rise to the nugget ice machine market.
Countertop is said to dominate the nugget ice machine market
Stainless steel is expected to dominate the market share
Nugget ice makers improve the quality of ice by using moving water. As the water runs down a high nickel-content stainless steel evaporator where the surface must be below freezing. Salt water requires lower temperatures to freeze and will last longer. Also, in vertical evaporators the ice is softer, more so if there are actual individual cube cells.
When the sheet of ice on the cold surface reaches the desired thickness, the sheet is slid down onto a grid of wires, where the sheet's weight causes it to be broken into the desired shapes, after which it falls into a storage bin.
Online websites segment to drive the nugget ice machine market
The 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 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. Lastly, these online websites allow customers to easily compare products and prices, which is escalating segmental growth.
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 5.16% from 2023 to 2033 |
| Market value in 2023 | USD 80.9 million |
| Market value in 2033 | USD 133.9 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, Production Capacity, Material, Sales Channel, 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, Singapore, Thailand, China, Japan, South Korea, Indonesia, Australia, New Zealand, GCC Countries, South Africa, Israel |
| Key Companies Profiled | Frigidaire; NewAir; hOmeLabs; MC Appliances (Magic Chef); Whynter; EdgeStar; Scotsman Ice Systems; Maxx Ice; Summit Appliances; GE Appliances; Crownful |
| Customization Scope | Available on Request |
The global nuggets ice machine market is expected to grow at a 5.16% CAGR during the forecast period 2023 to 2033
The global nugget ice machine market grew at a CAGR of 3.5% from 2018 to 2022
Demand for online websites is said to be more during the forecast period.
Stainless steel will gain the dominant market share in the field of the nugget ice machine market
Reason that can hinder the Nugget Ice Machine Market is the high investment required at the initial stage of Superficial Punctuate Keratitis Treatment is very high.
1. Executive Summary | Nugget Ice Machines Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Installation Type 5.1. Counter Top 5.2. Free Standing 5.3. Under Counter 5.4. Wall Mounted 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Production Capacity (Per 24 hrs) 6.1. Up to 700 Pounds 6.2. 700 to 1400 Pounds 6.3. Above 1400 Pounds 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material 7.1. Metal 7.2. Plastic 7.3. Stainless Steel 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Sales Channel 8.1. Online Website 8.2. Offline Stores 8.2.1. Hypermarket 8.2.2. Speciality Store 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Europe 9.4. Asia Pacific 9.5. MEA 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Frigidaire 17.2. NewAir 17.3. hOmeLabs 17.4. MC Appliances (Magic Chef) 17.5. Whynter 17.6. EdgeStar 17.7. Scotsman Ice Systems 17.8. Maxx Ice 17.9. Summit Appliances 17.10. GE Appliances 17.11. Crownful 18. Assumptions & Acronyms Used 19. Research Methodology
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Nugget Ice Machines Market
