NEWARK, Del, July 16, 2024 (GLOBE NEWSWIRE) -- The refrigerated display case market is anticipated to surpass USD 10,034.30 million in 2024 and a valuation of US$ 17,633.71 million by 2034. The refrigerated display case market size is projected to expand at a CAGR of 5.80% from 2024 to 2034.
The focus on health and well-being is pushing consumer tastes in favor of less processed and fresher meals. This trend relies heavily on refrigerated display cases, which allow merchants to prominently exhibit a large variety of fresh vegetables, salads, pre-cut fruits, and other healthy alternatives.
These refrigerated cabinets tempt health-conscious shoppers to make better decisions by presenting perishable goods in an eye-catching way and maintaining ideal temperatures. Theyre’ help in making fresh and healthy meals more accessible. The demand for refrigerated display cases is growing as consumer appetite for better food alternatives keeps rising.
Due to the fast-paced nature of modern living and the demand for quick and easy food options, convenience shops are growing in popularity. The ability to showcase ready-to-eat meals, drinks, and grab-and-go snacks makes refrigerated display cabinets indispensable in these establishments. These showcases meet the needs of time-pressed shoppers looking for solutions they can grab by offering an extensive assortment of chilled products in an easy-to-reach format. The increase in convenience shops drives the demand for refrigerated display cases.
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Countries in South Asia, Latin America, and the Middle East & Africa regions are experiencing a surge in the construction of supermarkets, hypermarkets, convenience stores, and other retail formats. Economic growth in these regions is likely to favor the market in the coming years. Also, the food service sector’s constant growth and emergence of new restaurants, bakeries, cafes, and other establishments will support market growth in the aforementioned regions. As these establishments continue to differentiate themselves, investments in refrigerated display solutions will further expand the market.
According to the report, the global refrigerated display cases market has seen a steady and continuous rise in demand in the retail food and beverage sector. This is a common trend observed in both developed and developing countries owing to high growth in the number of retail outlets. Moreover, based on design, the vertical/multi-deck RDC segment is likely to grow at a rapid pace, particularly in the food and beverage industry.
Key Takeaways from the Refrigerated Display Case Market Report:
- The refrigerated display case market size expanded at a 1.73% CAGR from 2019 to 2023.
- The remote type segment holds 63.00% of market shares in 2024.
- The vertical design segment captured 63.80% of market shares in 2024.
- The market size in the United States is projected to rise at a 1.30% CAGR through 2034.
- The market size in Germany is anticipated to develop at a 1.40% CAGR through 2034.
- The market size in Japan is estimated to surge at a 9.90% CAGR through 2034.
- The market size in India is expected to increase at a 6.10% CAGR through 2034.
Rising and Changing Consumption Patterns to Boost the Market:
Mostly commercial food services, which include hotels, restaurants, and caterers, are growing as a significant demand driver for countertop cake display cabinets for different types of food and beverages. There is also a growing realization of the importance of visual merchandising as a cheap way to boost retail sales and its role in encouraging impulse buying among customers.
A few of the other factors influencing demand in this end-use segment include soaring purchasers' discretionary income coupled with their rising expenditures on frozen and chilled baked products. For instance, cross-cultural influence and lifestyle changes that encourage the consumption of continental food products have given rise to a trend of sushi display in western countries.
Technological Advancements are making the Products Energy Efficient and Affordable:
The economic significance of sophisticated RDC models that can keep food clean and hygienic in certain settings without microbiological or other forms of contamination is also increasing. Continuous technological advancements that encourage system updates and improvements are another factor fuelling the refrigerated display cases market expansion.
As a result of stricter food safety rules and quality requirements at retail shops by the government authorities have significantly increased the sales of used refrigerated display cases in many developing countries. Tapping into this lucrative opportunity is emerging as a major focus of the market that is trying to supply deli cases for sale at affordable prices to penetrate the market in these countries.
On the other hand, rising environmental concerns, low knowledge and restricted acceptance in less developed nations, and the bakery glass display case that doesn't require cooling are some of the issues limiting the market growth. So nowadays, leading market competitors are creating energy-efficient RDCs in a variety of forms and designs thanks to technical improvements in order to meet the rising needs of low-cost freezer display cases to woo the small players of the commercial food sector.
“The refrigerated display case market is expected to develop rapidly due to changing customer tastes and technological improvements. To remain competitive, manufacturers must put innovation, quality, and sustainability first. E-commerce platforms and strategic alliances provide growth prospects.” opines Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.).
Competitive Landscape:
The refrigerated display case market is fairly competitive, with prominent companies striving for market share and distinction. Leading businesses like Hussmann Corporation, Carrier Commercial Refrigeration, and Epta S.p.A. lead the industry due to their diverse product offerings, technical innovation, and worldwide presence. These industrial titans use their brand recognition and distribution networks to maintain a competitive advantage in the marketplace.
Top Key Players in the Refrigerated Display Case Market:
- Hussmann Corporation
- Carrier Commercial Refrigeration
- Danfoss A/S
- Epta S.p.A. Refrigeration
- Haier Group
- Metalfrio Solutions S.A.
- AHT Cooling Systems GmbH
- Lennox International Inc.
- Liebherr Group
- Dover Corporation
Recent Developments:
- In January 2024, Hussmann, a brand of the Panasonic company, launched Evolve TechnologiesTM. Evolve Technologies™ enables using ecologically friendly refrigerants like R-744 (CO2) and R-290 (propane).
- In October 2023, AHT launched propane-based refrigerated cabinets (R290). The new KALEA units have an energy consumption range from class B to D, depending on their model and configuration options.
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Will Emerging Applications in Quick Service Restaurants Influence Demand?
Urbanization has significantly increased dependence on the storage and transportation of food & beverages. Customers are looking for food services that can complement their fast-paced lifestyle, which has caused an increase in the number of quick-service restaurants. This has been a key factor in creating refrigerated display case market opportunities. Moreover, a substantial increase in the number of quick-service restaurants worldwide is a lucrative opportunity for the market.
Rising per capita income and shifting preferences of urban people are some of the leading factors resulting in the growing demand for refrigerated bakery display cases, followed by casual dining.
In Asian countries, particularly in China and South Korea, the quick service restaurant industry is thriving, which is also anticipated to spearhead the sales of the Hoshizaki sushi case in these countries and make it popular in other culturally influenced nations.
What are the Major Challenges Experienced by the Refrigerated Display Cases Market Players?
Other equipment manufacturers or OEMs, including refrigerated display case manufacturers, have been facing challenges in terms of compliance with refrigerant regulations implemented by various government organizations.
Manufacturing of low global warming potential (GWP) refrigerant has always been one of the prime concerns of deli display case manufacturers, which in turn is creating difficulties for end-use industries. Hence manufacturers are concentrating on more sustainable options for providing industry-specific applications to fulfill consumer requirements.
Refrigerated Display Case Market Segmentation:
By Type:
- Plug-in
- Semi Plug-in
- Remote
By Design:
- Vertical
- Horizontal
- Hybrid
By End Use:
- Food Service Sector
- Quick Service Restaurants
- Bakeries
- Hotels
- Others
- Retail Food & Beverage Sector
- Fuel Station Stores
- Hypermarkets
- Supermarkets
- Discount Stores
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
- Japan
Authored by:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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