NEWARK, Del, March 01, 2023 (GLOBE NEWSWIRE) -- The global refrigerated display cases market is expected to accrue a value of US$ 14 billion by 2032 as opposed to US$ 8.2 billion in 2022. The target market is set to grow at a moderate CAGR of 5.5% from 2022 to 2032. An upsurge in demand from the retail food sector, growing population, and swift urbanization, particularly in emerging economies are responsible for the significant growth that the refrigerated display cases (RDC) market have been witnessing in recent years. A sharp incline in consumption patterns as well as the changes witnessed in the same further aid the growth of the market.
Historically, the refrigerated display cases market witnessed a CAGR of 1.5% from 2016 to 2020 and arrived at a value of US$ 7.8 billion by 2021. The estimated growth for the RDC market is due to the rising awareness of the importance of visual merchandising as an affordable approach to augment sales by encouraging impulse buying among consumers. A refrigerated display case ensures that the goods are put forward in an attractive and eye-catching display which augurs well for the market. Further, recent technological advancements are helping manufacturers produce energy-efficient and affordable RDC machines. This bodes well for the global sales of the market.
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With the expansion of the retail- including supermarkets, convenience stores, and hypermarkets- and food and beverages industries, the demand for refrigerated display cases will also surge. Since sales channels like supermarkets and hypermarkets need efficient utilization of space while also maintaining the environment of the store, the demand for remote refrigerated display cases with remotely located condensers is observing a spike. Remote refrigerated display cases ensure no heat dissipation within the store and efficiently utilize available space. Thus, remote refrigerated display cases with advanced technology that enable low system energy consumption drive the demand for the refrigerated display cases market.
Rapid urbanization resulting in immense dependency on the storage and transportation of food and beverages, surging number of quick service restaurants, rising per capita income and shifting consumption patterns and preferences of the general population, among others, are some of the recent trends that drive the growth of the RDC market during the forecast period. However, challenges faced regarding compliance with refrigerant regulations executed by different governments may hinder the growth of the refrigerated display cases market in the upcoming years.
Key Takeaways:
- Incorporation of IoT that permits remote control of RDCs will strengthen market prospects.
- By end-user, the retail food and beverage sector dominates the global marketplace.
- Germany will emerge as one of the most opportunistic pockets for the RDC market.
- High demand for remote-type deli cases will drive market growth in the US.
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Competitive Landscape
In a highly competitive environment, dominant market players like Hussmann cases are concentrating on carving a niche for a specific penetrated area. A few of the other players are increasing their investment in research and development efforts to produce state-of-the-art and energy-efficient products. Some of the latest trends influencing the competitive landscape of the refrigerated display cases market are competitive pricing, greater end-user satisfaction with performance, and the adoption of progressive technologies. Collaborations and partnerships are a few of the other strategies that these participants utilize to strengthen their market footprints and build strong supply chain networks, especially in emerging economies.
Carrier Corporation, Danfoss A/S, Daikin Industries, Ltd., Fagor Industrial, CAREL INDUSTRIES S.p.A., and Illinois Tool Works, among others, are some of the significant players in the refrigerated display cases market profiled in the full version of the report.
More Insights into Refrigerated Display Cases Market
In this latest report, FMI offers an unbiased and detailed analysis of the global refrigerated display cases market, providing historical data from 2016 to 2021 and forecast statistics for 2022 to 2032. This report highlights the sales prospects, drivers, restraints, and market segmentations for the next ten years. For a comprehensive understanding of the global market potential, growth, and scope, the market is segmented on the basis of product type, design, end-use, and region.
According to the reports, based on segmentation, the retail food and beverage end-use sector dominate the global marketplace. The past couple of years has witnessed considerable growth in the retail sector which, in turn, drives the demand for refrigerated display cases. This can be attributed to the elevated demand for RDCs from gas stations, supermarkets, hypermarkets, and other similar stores all over the world. Based on region, the refrigerated display cases market in the US will exhibit significant growth owing to the presence of a thriving supermarket culture and increasing demand for remote-type deli cases. Other countries like India, Germany, and Japan will also contribute to the global growth of the refrigerated display cases market.
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Key Segments
By Type:
- Plug-In Refrigerated Display Cases
- Semi Plug-In Refrigerated Display Cases
- Remote Refrigerated Display Cases
By Design:
- Vertical Refrigerated Display Cases
- Horizontal Refrigerated Display Cases
- Hybrid Refrigerated Display Cases
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
- Europe
- East Asia
- South Asia & Pacific
- Oceania
- MEA
Table of Content
1. Executive Summary
1.1. Global Market Snapshot
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
4. Key Success Factors
5. Global Refrigerated Display Case Market Demand Analysis 2016–2021 and Forecast, 2022–2032
5.1. Historical Market Volume (Units) Analysis, 2016–2021
5.2. Current and Future Market Volume (Units) Projections, 2022–2032
5.3. Y-o-Y Growth Trend Analysis
6. Global Refrigerated Display Case Market - Pricing Analysis
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