The worldwide reach-in refrigerator market is expected to be worth USD 38.6 billion in the year 2023. In accordance with Future Market Insights, the market will expand at a 4.32% CAGR from 2023 to 2033, reaching a value of USD 58.94 billion by 2033.
Rise in demand for the reach-in refrigerator market is ascribed to an increase in customer demand for frozen and chilled items as a result of lifestyle changes and growing urbanization. Furthermore, significant growth in the organized retail sector, such as an increase in the number of hypermarkets and supermarkets, enhances overall sales of commercial refrigerators, hence accelerating market growth.
The adoption of natural refrigerants, better efficiency, development in the food industry, and increasing demand for ready-to-eat food, egg, meat, and other animal-derived food are the key drivers influencing the growth of the reach-in refrigerator market.
Usage of LED lighting systems, high-performance glass doors, and high-efficiency motors is increasing, this equipment is becoming more efficient and saves a lot of energy, which is regarded as a critical component in driving the growth of the reach-in refrigeration market globally.
Small businesses all over the world are unable to use this system due to the high energy consumption, which is projected to limit the growth of the reach-in refrigerator market. So, these are certain key restraints for the growth of this market.
| Attributes | Details |
|---|---|
| Projected Forecast Value (2023) | USD 38.6 billion |
| Projected Forecast Value (2033) | USD 58.94 billion |
| Growth Rate | 4.32% CAGR |
| Forecast period | 2023 to 2033 |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
The global reach-in refrigerators market grew at a CAGR of 3.9% from 2018 to 2022, as per Future Market Insights, a provider of market research and competitive intelligence.
Market demand for the reach-in refrigerator market had gone seen recessionary downturns during the initials of covid-19 that includes lower reach-in refrigeration system sales, store closings, and brief pauses in the industrial cycle, briefly hampered growth expectations. Reach-in refrigerator markets mainly focus on supplying high-quality goods. They are striving to offer cost-effective service and maintenance warranties.
Manufacturers are concentrating on producing refrigerators with low usage of power. It might save modern consumers money on additional electricity costs. Thus, the reach-in refrigerator market is being upgraded to fulfill the demand for automated goods as science and technology advance.
Increase in the Demand for Non-Alcoholic Beverages and Frozen Foods Help to Boom the Market
Working professionals prefer instant foods and have less time to prepare traditional meals, frozen food products have become more popular. Thus, growth can be seen in the refrigerator market.
Since the previous years, non-alcoholic beverages have also seen a significant increase. Energy drinks, shakes, and other beverages are consumed in large quantities, so it is important to store them in refrigerators to keep them safe.
Modern Technologies will Lower Costs, thereby Driving the Market Growth
Reach-in refrigerators with ENERGY STAR certification use an average of 1.89 kWh of energy per day, compared to 4.44 kWh for refrigerators with lower efficiency. Climate problems associated with high GWP refrigerants, such as ozone depletion and global warming, drive the need for alternatives. Therefore, the rising focus of the major market players to deploy modern technologies in commercial refrigerators to address hazardous gas emissions will widen the market's growth scope.
Reach-in refrigerators with ENERGY STAR certification are one way of simultaneously conserving energy and addressing this global issue. By improving refrigeration equipment's energy efficiency, these systems lower operating costs.
Principal Consultant
High Purchasing Costs will constrain the Market
Cost of purchasing the machines is predicted to impede the market growth. As reach-in refrigerators, freezers, and other equipment are designed to fit in large spaces, the cost of the equipment varies depending on size. Therefore, the cost of buying and maintaining such massive equipment becomes a barrier.
Popularity of Reach-In Refrigerators has increased as Ice Cream Consumption has Increased
Many people prefer dairy products like ice cream. To meet consumers growing demand, a sizable number of players in the global ice cream market are introducing a wide variety of tantalizing flavors.
To safeguard the ice cream from melting and damage, refrigerators must be allowed. As a result, it is anticipated that the expansion of the ice cream industry will lead to the market for reach-in refrigeration equipment growing.
Usage of Cutting-Edge Magnetic Refrigeration Technology will promote Growth
Temperature change is caused by applying a reversible magnetic field in the newly introduced magnetic refrigeration technology based on the magnetocaloric effect. A strong magnetic field lowers the temperature inside the apparatus by aligning different magnetic dipoles with the refrigerant.
Implementing this magnetic refrigeration technology is economical, environmentally friendly, long-lasting, and safe. It uses less energy overall, making it suitable for reach-in refrigeration equipment worldwide and boosting growth.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
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 refrigerators. The increase in the alcoholic beverage market in North America gives rise to the demand for the reach-in refrigerator. It is accounted that 85% of people in North America prefer to drink alcoholic beverages thus, giving rise to the reach-in refrigerator market.
Maintenance of Good Food Quality in Shopping Malls, Convenient Stores
Increase in demand for shopping malls, convenience stores, and supermarkets have given rise to the ice maker market in the 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 reach-in refrigerator market.
Top Mount Refrigerators are said to Dominate the Market
Top-mount refrigerators typically offer more usable refrigerator space than a bottom freezer model. With the freezer mounted on the top of the appliance, top freezer refrigerators provide plenty of space for refrigerated groceries.
Online Retail Store is said to Drive the Reach-In Refrigerators 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.
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 4.32% from 2023 to 2033 |
| Market value in 2023 | USD 38.6 billion |
| Market value in 2033 | USD 58.94 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 | Compressor installation, Freezer, Door Type, 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, Indonesia, Singapore, Thailand, China, Japan, South Korea, Australia, New Zealand, GCC countries, South Africa, Israel |
| Key Companies Profiled | Avantco Refrigeration; Beverage Air; Delfield; Valpro; Grista; Summit; Trufrost; Traulsen; HOSHIZAKI Corp.; Danfoss |
| Customization Scope | Available on Request |
The United States, India, and Germany dominate the global market.
The market is forecast to register a CAGR of 4.3% through 2033.
During 2018 to 2022, the market registered a CAGR of 3.9%.
Technological advancement disrupts the current market trends.
The global market size will reach USD 58.94 billion by 2033.
1. Executive Summary | Reach-in Refrigerators 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 Compressor installation 5.1. Bottom mounted 5.2. Top mounted 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Freezer 6.1. Freezer on bottom 6.2. Freezer on top 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Door Type 7.1. Glass door 7.2. Pass through 7.3. Half door 7.4. Solid door 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel 8.1. Offline stores 8.1.1. Hypermarkets / Supermarkets 8.1.2. Multi brand store 8.1.3. Department store 8.1.4. Discount store 8.1.5. Specialty store 8.2. Online retail stores 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. Avantco Refrigeration 17.2. Beverage Air 17.3. Delfield 17.4. Valpro 17.5. Grista 17.6. Summit 17.7. Trufrost 17.8. Traulsen 17.9. HOSHIZAKI Corp. 17.10. Danfoss 18. Assumptions & Acronyms Used 19. Research Methodology
Explore Process Automation Insights
View Reports
Reach-in Refrigerators Market
