Portland,OR, Aug. 14, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Spiral Freezer Market by Type (Small Capacity, Medium Capacity, and Large Capacity), by Business (OEM, Aftermarket), by Application (Meat Processing, Seafood, Bakery Products, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032." According to the report, the global spiral freezer industry generated $4.1 billion in 2020, and is anticipated to generate $7.3 billion by 2032, witnessing a CAGR of 4.9% from 2023 to 2032.
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Prime Determinants of Growth:
The global spiral freezer market is experiencing growth due to several factors, including a rise in the food and beverage industry, a preference for consuming good-quality products, and demand for seasonal food throughout the year. However, stringent rules and regulations are restraining the growth of the market. On the contrary, rapid urbanization and rising demand for frozen foods are expected to offer lucrative opportunities for the growth of the market.
Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2023-2032 |
| Base Year | 2020 |
| Market Size in 2020 | $4.1 billion |
| Market Size in 2032 | $7.3 billion |
| CAGR | 4.9% |
| No. of Pages in Report | 220 |
| Segments Covered | Capacity, Business, Application, and Region |
| Drivers | Rise in the food & beverage industry |
| Preference for consuming good quality products | |
| Demand for seasonal food throughout the year | |
| Opportunities | Technological Innovations |
| Restraints | Strict government regulations for the food & beverage industry |
COVID-19 Scenario:
- The outbreak of the COVID-19 pandemic had a negative impact on the global spiral freezer market, owing to various obstructions in its regular operations during the lockdown.
- Not only the spiral freezer market but also the production of other types of freezers, such as tunnel freezers, were hampered due to the closure of manufacturing units across the world.
- However, the pandemic has been released, and the major manufacturers in 2023 are performing well. Contrarily, the rise in global inflation is a major obstructive factor for the entire industry.
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The small capacity segment to maintain its leadership status throughout the forecast period-
Based on capacity, the small capacity segment held the largest market share in 2020, accounting for nearly half of the global spiral freezer market revenue, and is expected to maintain its leadership status throughout the forecast period. Mini or small spiral freezers are ideal for processors looking for a scalable solution that is fully welded, mechanical, and compact. Moreover, the increase in consumption of seasonal food throughout the year has fueled the growth of the segment. However, the medium capacity segment is projected to manifest the highest CAGR of 5.4% during the forecast period. The increase in consumption of bakery products in various countries is fueling the demand for medium-capacity spiral freezers. Increased efficiency, better quality control, and lower labor costs are some of the main benefits of medium-capacity spiral freezers.
The OEM segment to maintain its leadership status throughout the forecast period-
Based on business, the OEM segment held the highest market share in 2020, garnering nearly three-fourths of the global spiral freezer market revenue, and is expected to maintain its leadership status throughout the forecast period. VDL Systems has developed a unique, hygienic, and modularly packaged concept that significantly reduces on-site construction time. This unique spiral system is entirely constructed of stainless steel and can be prefabricated and then installed on-site. However, the aftermarket would showcase the highest CAGR of 5.2% during the forecast period. Aftermarket parts are used to replace damaged parts in spiral freezers and other equipment, but their use may alter the coverage of an insured item. They are like generic parts in that they are cheaper than brand names but are likely to have similar effectiveness.
The meat processing segment to maintain its lead position during the forecast period-
Based on application, the meat processing segment accounted for the largest share in 2020, contributing to more than half of the global spiral freezer market revenue, and is projected to maintain its lead position during the forecast period. The same segment would also portray the fastest CAGR of 5.2% during the forecast period. A spiral freezer helps increase production capacity and efficiency. It also optimizes hygiene procedures and increases flexibility to provide opportunities for long-term business planning. The advanced spiral system helps to maximize uptime and requires minimal ongoing maintenance. Furthermore, temperature control and a unique airflow are specially designed for delicate products such as skin-on sausages, ensuring product quality. Hence, such factors are fueling the spiral freezer market for the meat processing segment.
Asia-Pacific to maintain its dominance by 2032-
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2020, accounting for around half of the global spiral freezer market revenue, and is expected to maintain its dominance by 2032. Due to extensive demand from the growing population for frozen food. Growth in the food & beverage industry in developing and developed countries such as India, China, Japan, and Singapore are expected to surge demand for spiral freezers during the forecast period. However, the LAMEA region would cite the fastest CAGR of 5.5% during the forecast period. Population growth, health awareness, expanding the food and beverage industry, and stringent environmental regulations are propelling the growth of the spiral freezer market in the region.
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Leading Market Players: -
- Dantech Freezing Systems
- FPS food process solutions
- GEA Group AG
- ICS Spiral Freezers
- LINDE PLC
- Mayekawa
- RMF Works
- Scanico a/s
- Sinteco Impianti
- VDL Systems BV.
The report provides a detailed analysis of these key players in the global spiral freezer market. These players have adopted different strategies to increase their market share and maintain dominant positions in different regions. The report is valuable in highlighting business performance, operating segments, product portfolios, and strategic moves of market players to showcase the competitive scenario.
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