The global undercounter ice makers market is expected to be valued at USD 774.5 million in 2023. With the increasing environmental concerns, the overall scope for undercounter ice makers market is projected to grow at a CAGR of 3.9% between 2023 and 2033, totaling around USD 1,135.4 million by 2033.
| Data Points | Key Statistics |
|---|---|
| Undercounter Ice Makers Market Value 2023 | USD 774.5 million |
| Undercounter Ice Makers Market Projected Value (2033) | USD 1,135.4 million |
| Undercounter Ice Makers Market CAGR (2023 to 2033) | 3.9% |
According to the analysis of Future Market Insights, the food service industry encompasses a wide range of businesses, including restaurants, cafes, bars, hotels, and catering companies. In all of these businesses, ice is an essential component for food preservation and beverage service. For example, ice is often used to keep drinks cold, to chill food for storage or display, and to create blended drinks or cocktails.
Undercounter ice makers are a popular choice for businesses in the food service industry because they are designed to provide a constant supply of ice, without taking up valuable floor space.
These appliances can be easily installed under counters or in other tight spaces, making them an ideal solution for businesses with limited space. Undercounter ice makers also tend to be more efficient than standalone models, which can help businesses to save on energy costs over time.
As the food service industry continues to grow, so too does the demand for undercounter ice makers. This growth is being driven by a number of factors, including the rise of online food ordering and delivery services, the increasing popularity of food trucks and mobile catering, and the expansion of the hospitality industry into new markets.
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The global demand for undercounter ice makers is projected to increase at a CAGR of 2.2% during the forecast period between 2018 and 2022, reaching a total of USD 1,135.4 million in 2033.
According to Future Market Insights, a market research and competitive intelligence provider, the Undercounter Ice Makers market was valued at USD 745.4 million in 2022.
In recent years, technological advancements have led to significant improvements in the design, efficiency, and user-friendliness of undercounter ice makers. Manufacturers are investing in research and development to create models that offer more features, greater efficiency, and better performance. Some of the key technological advancements that are driving the growth of the undercounter ice maker market include:
Many undercounter ice makers now come equipped with touchscreen displays, which make them easier to operate and more user-friendly. These displays allow users to set the desired ice-making speed, adjust the ice thickness, and monitor the status of the machine.
Some of these ice makers are enables with Wi-Fi connectivity, allowing users to monitor and control the machine from their smartphones or tablets. This feature can be especially useful for businesses that need to keep track of multiple machines at once.
Nowadays, ice makers are equipped with remote monitoring capabilities, allowing service technicians to diagnose and troubleshoot problems remotely. This can help to reduce downtime and minimize service costs.
Manufacturers are using advanced technologies to create more energy-efficient undercounter ice makers. For instance, some models now use less water and energy to produce the same amount of ice as older models, which can help businesses to save on utility costs over time.
Increasing Preference for Built-in Appliances to fuel Market Growth
In recent years, there has been a growing trend toward home design that emphasizes clean, minimalistic lines and seamless integration of appliances into the overall design scheme.
Consumers are increasingly looking for built-in appliances that can fit into cabinetry and other fixtures in their kitchen, providing a sleek, cohesive look to their living spaces. This trend is not limited to the kitchen but also extends to other areas of the home, such as bathrooms and living rooms.
Undercounter ice makers are a popular choice for consumers looking to integrate appliances into their kitchen design because they can be built directly into cabinets or under countertops, freeing up valuable counter space while still providing easy access to ice. Unlike standalone ice makers, undercounter models are hidden from view, which can help to reduce visual clutter in the kitchen and create a more streamlined look.
Additionally, manufacturers are designing a variety of styles and finishes, allowing homeowners to choose a model that complements their kitchen decor and fits seamlessly into their overall design scheme.
Rising Demand for Home Bars to Accelerate the Market Growth
Nowadays, there has been a growing trend among millennials towards entertaining at home, with many opting to create their own home bars or entertainment areas. This trend has been fueled by a number of factors, including rising housing costs, the popularity of home renovation shows, and the desire to create personalized, unique spaces for entertaining.
As the demand for home bars and entertainment areas has grown, so too has the demand for undercounter ice makers. These appliances are essential for home bars as they provide a continuous supply of ice for cocktails and other beverages, without the need for homeowners to run to the store or refill ice trays.
Undercounter ice makers can also be more compact and space-efficient than standalone models, making them ideal for smaller home bars and entertainment areas.
In addition to providing a practical function, undercounter ice makers can also contribute to the overall aesthetics of a home bar or entertainment area.
Many models are designed to be sleek and stylish, with a variety of finishes and styles available to complement different home decor schemes. As a result, undercounter ice makers can be both functional and decorative, helping homeowners to create the perfect atmosphere for entertaining guests at home.
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High Cost of Ice Makers & Availability of Alternatives to Restrain the Market
One of the factors that limit the growth of the Undercounter Ice Makers Market is the high initial cost. Undercounter ice makers typically have a higher upfront cost than other ice-making alternatives such as portable ice makers or using a standard refrigerator or freezer.
Installing an undercounter ice maker requires professional installation, which can add to the cost. These high costs can make undercounter ice makers unaffordable for cost-conscious consumers or businesses, leading them to consider alternative ice-making options.
While undercounter ice makers provide a convenient way to have a constant supply of ice, there are other ways to obtain ice that can be less expensive. For instance, many refrigerators come with ice makers built-in, and portable ice makers are relatively inexpensive and can be used in a variety of settings. These alternative ice-making options may be more accessible to consumers and businesses that are looking to save on costs, which is another factor hindering the market size of undercounter ice makers.
These ice makers are often associated with larger and more elaborate kitchen setups, which may not be practical or necessary for all consumers or businesses. For example, small households or businesses may not require a constant supply of ice and may prefer more cost-effective alternatives. Additionally, businesses in certain industries such as healthcare or education may not prioritize having an undercounter ice maker and may opt for other solutions to meet their ice-making needs.
Increasing Popularity of Home Renovation in North America to Fuel the Market Growth
The undercounter ice makers market in North America is expected to accumulate the highest CAGR of 3.8% in 2023. The regional market growth is attributed to the increasing demand from the food service industry.
The food service industry is a major consumer of undercounter ice makers, and North America has a large and growing food service industry. In addition, as more consumers in North America seek to entertain at home, the demand for undercounter ice makers for home bars and entertainment areas is also increasing. This trend is especially prevalent among millennials who place a high value on socializing at home.
Undercounter ice makers are available in energy-efficient models that help reduce energy costs and carbon footprint. As North American consumers are becoming more environmentally conscious, the demand for energy-efficient appliances such as undercounter ice makers is also increasing.
Home renovation and remodeling projects are becoming more popular in North America, and undercounter ice makers are often included in such projects. As a result, the demand for undercounter ice makers in North America is expected to increase due to these renovation and remodeling activities.
Also, growing demand from the healthcare industry is another factor that is projected to escalate the regional market growth over the analysis period. The healthcare industry is a significant user of undercounter ice makers, as they require a constant supply of ice for medical purposes such as ice baths and ice packs.
Increasing Technological Advancements in the Region to fuel Demand
The undercounter ice makers market in Asia Pacific is expected to accumulate the highest CAGR of 3.7% in 2023. The growth of the regional market is attributed to the factors such as the rapid urbanization and growth of the food service industry.
Asia Pacific is witnessing rapid urbanization, and as a result, the food service industry is growing at a significant rate. Undercounter ice makers are widely used in this industry, driving the demand for such products in the region.
Technological advancements, such as touchscreens and remote monitoring capabilities, are making undercounter ice makers more efficient, reliable, and user-friendly. As a result, the demand for such products is increasing in Asia Pacific.
Asia Pacific is a popular tourist destination, and the hospitality industry is witnessing growth as a result. Undercounter ice makers are essential in the hospitality industry, which in turn is expected to augment the regional market growth in the near future.
There is a growing trend in Asia Pacific for built-in appliances that seamlessly integrate with the kitchen design. Undercounter ice makers, being a built-in appliance, are gaining popularity in the region for their sleek and modern look.
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Self-Contained Unit Segment to beat Competition in Untiring Market
On the basis of equipment type, the market is dominated by the self-contained unit segment, which is expected to hold a CAGR of 3.8% over the analysis period. The compact size of self-contained units makes them an ideal choice for small-scale businesses that have limited space.
These units can fit under counters, bars, and other small spaces without taking up too much room, making them ideal for cafes, bars, and restaurants. The self-contained units are easy to install and require minimal maintenance, making them a convenient option for business owners who may not have the time or resources to maintain a more complex ice-making system.
Self-contained units typically come with all the necessary components, including the ice-making head, compressor, and condenser, all in one unit, making installation and maintenance simple and hassle-free.
Self-contained units are energy-efficient and cost-effective, making them a popular choice for small-scale businesses looking to save on operational costs. These units use less water and energy than other types of ice makers, which can help reduce monthly utility bills.
The demand for self-contained units is growing due to the increasing popularity of small-scale foodservice businesses such as cafes, bars, and restaurants. As more people are looking for unique dining experiences and trendy hangout spots, the demand for undercounter ice makers is expected to increase.
Offline Stores Segment to Drive the Undercounter Ice Makers Market
Based on the distribution channel, the offline retail stores segment is expected to expand at rapid rate of 3.7% CAGR over the analysis period. Offline stores will hold the major share in the undercounter ice makers market, with specialty stores and hypermarkets/supermarkets expected to have a significant contribution to the market growth.
As the foodservice industry continues to expand and evolve, businesses are looking for high-quality, reliable, and efficient equipment to help them meet the growing demand for their products and services.
The availability of a wide range of products in specialty stores and hypermarkets/supermarkets is another driving factor for the offline stores segment's growth. These stores typically carry a variety of undercounter ice makers from different brands, making it easy for businesses to compare and choose the right product that meets their specific needs and budget.
The expertise of sales personnel in specialty stores is another factor driving the growth of the offline stores segment. The sales personnel in these stores are often knowledgeable about the products they carry, making it easier for businesses to get the right advice and guidance when selecting undercounter ice makers.
Undercounter ice makers startup players are adopting various marketing strategies such as new product launches, geographical expansion, merger and acquisitions, partnerships and collaboration to identify the interest of potential patients and create a larger customer base. For instance
Prominent players in the Undercounter Ice Makers market are Avallon, EdgeStar, Hestan, Ice-O-Matic, IMI Cornelius, KD Industries, Hoshizaki, Manitowoc, Scotsman, Snowsman, Summit, and Avanto Ice machines, among others.
Recent Developments
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 3.9% from 2023 to 2033 |
| Market Value in 2023 | USD 774.5 million |
| Market Value in 2033 | USD 1,135.4 million |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered |
Equipment Type, Ice Maker, Cooling Media, 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 |
Avallon; EdgeStar; Hestan; Ice-O-Matic; IMI Cornelius; KD Industries; Manitowoc; Scotsman; Snowsman; Summit; Avanto Ice Machines |
| Customization & Pricing | Available upon Request |
The global market is expected to be valued at USD 774.5 million in 2023.
From 2018 to 2022, the undercounter icemakers market surged at a CAGR of 2.2%.
The global market is expected to reach USD 1,135.4 million in 2033.
North America is expected to surge at a CAGR of 3.8% through 2023.
Surging demand for home bars boosts is a prominent opportunity for the undercounter ice maker market players.
1. Executive Summary 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 Equipment Type 5.1. Ice Making Head 5.2. Remote Condensing Unit 5.3. Self-Contained Unit 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Ice Maker Type 6.1. Continuous 6.1.1. Nuggets 6.1.2. Flakes 6.2. Batch 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Cooling Media 7.1. Air Cooled 7.2. Water Cooled 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. Independent Store 8.1.3. Multi Brand Store 8.1.4. 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. Avallon 17.2. EdgeStar 17.3. Hestan 17.4. Ice-O-Matic 17.5. IMI Cornelius 17.6. KD Industries 17.7. Manitowoc 17.8. Scotsman 17.9. Snowsman 17.10. Summit 17.11. Avanto Ice Machines 18. Assumptions & Acronyms Used 19. Research Methodology
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Undercounter Ice Makers Market
