Dublin, June 23, 2023 (GLOBE NEWSWIRE) -- The "Ice Market Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global ice market is expected to grow from $5.19 billion in 2022 to $5.58 billion in 2023 at a compound annual growth rate (CAGR) of 7.7%. The ice market is expected to reach $7.23 billion in 2027 at a CAGR of 6.7%.
Technological innovation is a key trend gaining popularity in the ice market. Companies operating in the ice market are adopting new technologies to sustain their position in the market.
For instance, in October 2022, AstroAI, a China-based automotive company, and HiCOZY, a US-based ice maker company launched the new nugget ice maker based on 'Quicool technology'. This technology provides a highly efficient compressor that enables the creation of ready-to-use ice up to 55lb of ice daily within five minutes, which is 3 times faster than ordinary freezing.
In January 2022, Hoshizaki, a Japan-based commercial equipment manufacturer acquired Brema Group for an undisclosed amount. This acquisition broadened, diversified, and enriched Hoshizaki's product portfolio by adding value-priced products. Brema Group is an Italy-based ice manufacturing company specializing in ice cubes, ice flakes, ice scales, and others.
North America was the largest region in the ice market in 2022. The regions covered in the ice market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The growing demand for alcoholic beverages is expected to propel the growth of the ice market going forward. Alcoholic beverages refer to drinks that contains ethanol and are produced by fermenting high-carbohydrates food. Ice is used in alcoholic beverages to chill the drinks faster and slower their dilution. The growing demand for chilled alcoholic beverages is creating demand for ice.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 275 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $5.58 billion |
| Forecasted Market Value (USD) by 2027 | $7.23 billion |
| Compound Annual Growth Rate | 6.7% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes
- Cornelius Inc.
- Minnesota Ice
- Arctic Glacier
- Clear Ice LLC
- Genesee Block Ice Company
- Ice Art
- Goldengoa Ice Cubes Private Limited
- Bow Ice Cubes Ltd.
- Icelings
- The Ice Co.
Key Topics Covered:
1. Executive Summary
2. Ice Market Characteristics
3. Ice Market Trends And Strategies
4. Ice Market - Macro Economic Scenario
4.1. COVID-19 Impact On Ice Market
4.2. Ukraine-Russia War Impact On Ice Market
4.3. Impact Of High Inflation On Ice Market
5. Ice Market Size And Growth
5.1. Global Ice Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Ice Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Ice Market Segmentation
6.1. Global Ice Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Ice Cube
- Ice Flake
- Ice Nugget
6.2. Global Ice Market, Segmentation By Capacity, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Below 50 Ice Cubes
50-150 Ice Cubes
150-250 Ice Cubes
- Above 250 Ice Cubes
6.3. Global Ice Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Supermarkets And hypermarkets
- Convenience Stores
- Online Retail
- Other Distribution Channel
6.4. Global Ice Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Foodservice
- Retail
- Healthcare
- Residential
- Other Applications
7. Ice Market Regional And Country Analysis
7.1. Global Ice Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Ice Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/m8mth1
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