The global open air merchandizers and accessories market is expected to be worth USD 1,813.6 million in 2023. As per Future Market Insights, the market will expand at a 6.4% CAGR from 2023 to 2033, reaching a value of USD 3,385.9 million by 2033.
The market for open air merchandizers and accessories is anticipated to increase significantly during the forecast period owing to the growing demand for high-capacity devices in commercial settings such as hospitals and clinics to store medications and medical equipment that needs particular storage conditions.
The market is expected to witness moderate growth due to storage capacity where grocery and convenience stores are utilizing these merchandizers for displaying bagged ice and store food products.
The storage and handling of vaccines have also become an important aspect of the cold storage supply chain for supporting an efficient COVID-19 mass vaccination effort. The increase in the usage of vaccines has thus fueled the adpotion open air merchandizers and accessories.
| Attributes | Details |
|---|---|
| Projected Forecast Value (2023) | USD 1,813.6 million |
| Projected Forecast Value (2033) | USD 3,385.9 million |
| Growth Rate | 6.4% CAGR |
| Forecast Period | 2023 to 2033 |
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The global open air merchandizers and accessories market grew at a CAGR of 5.5% from 2018 to 2022, as per Future Market Insights, a provider of market research and competitive intelligence.
Following the outbreak of COVID-19, consumers have become more conscious regarding their lifestyle choices. Focus on outdoor recreational activities has increased the need for compact-sized and advanced fridges. Hence, key manufacturers are increasing the production of portable fridges with different sizes and shapes to enhance their convenience of portability.
Regionally, North America is expected to dominate the global open air merchandizers and accessories market, contributing over 23.7% of revenue share in 2022. Rising camping activities in the USA have increased the focus on buying recreational vehicles, fueling the sales of open air merchandizers and accessories.
Rising Demand for Reverse Fan Self-Cleaning Condensing Units to Accelerate Market Growth
The surge in customer demand for frozen and chilled foods results from changing lifestyles and urbanization. In addition, considerable expansion in the organized retail sector, such as an increase in the number of grocery stores or supermarkets, further boosts the market.
The demand for technology is rising in the merchandiser industry, and the reverse fan self-cleaning condensing units have been significant growth in recent years.
High Maintenance Costs and Complex Installation Processes Inhibit Market Growth
Demand for these merchandisers is increasing with the growing awareness of ice and food quality. However, complex installation procedures are a major factor limiting the market surge. In addition, the unsuitable location of these merchandizers can limit the outdoor air intake and blockage of airflow resulting in the intake of bacteria.
Merchandizers require additional time for installation and the expense of product maintenance rises even more as these ducts must be sealed and insulated from outside dirt and dust. Hence, leading companies are putting in their best efforts to stay in the market and maintain their stability.
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.
Expectation of Consumers for More Transparency across the 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.
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The United States open air merchandizers and accessories market is expected to register 5.4% year-on-year growth by volume, in North America. The United States market is anticipated to witness relatively steady growth during the forecast period, with the development of new and innovative products.
When compared to other countries, the United States will always be the market leader in terms of product pricing. This is due to a number of supporting factors such as a developed economy, high per capita income, and the presence of leading market participants.
The United Kingdom is considered the leading producer of equipment, it plays a vital role in the expansion of Western Europe’s open air merchandizers and accessories market. It is expected to continue to be of Europe’s top markets in both growth and production of open air merchandizers and accessories market.
United Kingdom is anticipated to dominate the Western Europe market for open air merchandizers and accessories throughout the forecast period with a 6.1% CAGR.
Counter Mounted is said to Dominate the Open Air Merchandizers and Accessories Market
By installation type, counter mounted open air merchandizers are expected to enjoy high demand during the 2023 to 2033 forecast period. The reasons for this high uptake are as follows:
Online Retail Store is said to Drive the Open Air Merchandizers and Accessories 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. Lastly, these online websites allow customers to easily compare products and prices, which is escalating segmental growth.
LabelBlind, launched in 2021, is a SaaS-based food rating system. In accordance with the FSSAI mandate to disclose nutritional information on food packages soon spurred its product offerings, the company ensures transparency with regard to the ingredients used in food products. By December 2022, it was ready with three products – a digital food rating solution (LabelBlind), a food labeling solution (FolSol), and a nutrition and quality checker called Positive Nutrition Labelling (PNL).
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 6.4% from 2023 to 2033 |
| Market value in 2023 | USD 1,813.6 million |
| Market value in 2033 | USD 3,385.9 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, Refrigeration Type, Components, Distribution 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, China, Japan, South Korea, Singapore, Thailand, Indonesia, Australia, New Zealand, GCC countries, South Africa, Israel |
| Key Companies Profiled | Beverage-Air; Koolmore; Koldline; Delfield; Hyrda Kool; Marchia; Kool-It; Avantco Refrigeration; Micro Market; Universal |
| Customization & Pricing | Available on Request |
North America is projected to emerge as a lucrative market.
The growth potential of the market is 6.4% through 2033.
Complexity in installment are likely to limit market growth.
The United States is likely to capture a high market share in the global market.
The market is estimated to secure a valuation of USD 1,813.6 million in 2023.
| Market Value 2023 | USD 8.2 billion |
|---|---|
| Market Projected Value (2033) | USD 12.7 billion |
| Market CAGR (2023 to 2033) | 4.5% |
| Projected Forecast Value (2023) | USD 38.6 billion |
|---|---|
| Projected Forecast Value (2033) | USD 58.94 billion |
| Growth Rate (2023 to 2033) | 4.32% CAGR |
| Market Value 2023 | USD 2.2 billion |
|---|---|
| Market Projected Value (2033) | USD 3.2 billion |
| Market CAGR (2023 to 2033) | 3.7% |
| Market Value (2023) | USD 491.0 million |
|---|---|
| Market Projected Value (2033) | USD 904.5 million |
| Market CAGR (2023 to 2033) | 6.3% |
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Open Air Merchandizers and Accessories Market
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