New York, July 13, 2023 (GLOBE NEWSWIRE) -- As per the research report “Global Refrigerated Display Cases Market” published by Reports Insights, the market was worth USD 15,078.93 Million in 2022 and is anticipated to reach over USD 32,168.66 Million by the year 2030, growing at a CAGR of 10.3%.
Refrigerated display cases are a type of refrigeration unit that are optimized to display and keep food, desserts, beverages, and other products at a low temperature. Various types of refrigerated display cases including plug-in cases, remote cases, and others are utilized in retail stores, restaurants & hotels, and others. The benefits of refrigerated display cases including excellent product view, higher operational efficiency, higher display value, and availability of various sizes are key determinants for increasing its adoption in the aforementioned applications. The market for refrigerated display cases is highly competitive, with a large number of players offering a wide range of solutions. The market is projected to continue to grow in the coming years, driven by the increasing demand for refrigerated display cases in retail stores and restaurants & hotels among others.
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The growing retail industry is one of the key factors driving the market growth. Refrigerated display cases are utilized in the retail industry, particularly food retail to display frozen and chilled food & beverages and to it fresh for consumption for a longer duration of time. According to Invest India, food and grocery was the largest segment in the Indian retail sector in 2019, accounting for approximately 66% of the country’s total retail spend. Invest India further states that the grocery & food retail sector in India is projected to grow significantly and reach USD 850 billion by 2025. Thus, the growing retail industry is among the prime factor driving the adoption of refrigerated display cases, in turn proliferating the market growth.
Further, the rising application of refrigerated display cases in restaurants & hotels is a vital factor fostering the growth of the market. Refrigerated display cases are often installed in restaurants & hotels for storing and displaying food & beverages. Moreover, factors including the growing hospitality sector, changing consumer food consumption patterns, and rising development of new restaurants & hotels are among the key prospects fostering the application of refrigerated display cases.
| Report Attributes | Report Details |
| Market Size By 2030 | USD 32,168.66 Million |
| Forecast Period | 2023-2030 |
| CAGR (2023-2030) | 10.3% |
| Base Year | 2022 |
| Study Timeline | 2017-2030 |
| Key Players | Carrier, Hillphoenix (A Dover Company), Hussman Corporation, Daikin Industries, Epta Corporate, Frigoglass, HOSHIZAKI EUROPE B.V., ISA SpA, ARNEG S.P.A, Fagor Professional |
| By Type | Plug-In, Remote, and Others |
| By Application | Retail Stores, Restaurants & Hotels, and Others |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more. |
| By Geography | North America, Asia-Pacific, Latin America, Europe, Middle East & Africa |
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Key Market Highlights
- The Global Refrigerated Display Cases Market size is estimated to exceed USD 32,168.66 million by 2030 and grow at a CAGR of 10.3% during the forecast period (2023-2030).
- Globally, refrigerated display cases are divided based on the type into plug-in, remote, and others.
- On the basis of application, the market is classified into retail stores, restaurants & hotels, and others, and others.
- The market is geographically divided into five regions: Europe, South America, the Asia-Pacific, North America, and the Middle East and Africa.
- North America and Asia-Pacific are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on technological advancements in refrigerated display cases.
Refrigerated Display Cases Market Growth Drivers:
- Growing retail industry is driving the market growth
- Increasing adoption of refrigerated display cases in restaurants & hotels is spurring the market growth
Restraints
Operational challenges associated with remote refrigerated display cases is restraining the market growth.
Global Refrigerated Display Cases Market Segmentation Details:
Based on type, the plug-in segment contributed to largest share to the market growth in 2022. The benefits of plug-in refrigerated display cases including highly flexible layout changes and elimination of piping installation, or utilization of machinery rooms are key prospects driving the growth of the segment. Moreover, factors including the growing food retail industry and increasing investments in expansion of grocery stores and hypermarkets/supermarkets among others are among the prime determinants driving the growth of the plug-in segment.
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Based on application, the retail stores segment is anticipated to offer largest shares to the global refrigerated display cases market growth during the forecast period. Refrigerated display cases are installed in retail stores including supermarkets/hypermarkets, grocery stores, bakery stores, and others for storing and displaying chilled and frozen food & beverages. Factors including the increasing consumer shift towards instant and frozen food and rising investments in expansion of retail stores are expected to fuel the market growth during the forecast period.
Based on region, North America accounted for the largest share contribution to the market growth in 2022. The prevalence of significant refrigerated display case providers in North America such as Carrier, Hillphoenix, Hussman Corporation, and others lead to significant innovations in refrigerated display cases in the region. In addition, the rising retail sales, prevalence of a large number of retail companies, and expansion of food retail outlets are major factors driving the growth of refrigerated display cases market in North America.
Recent Developments
- In April 2019, Epta acquired Kysor Warren, a U.S-based manufacturer of refrigerated display cases for commercial refrigeration. The acquisition aims at expanding Epta’s business in North and Central American markets.
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List of Major Global Refrigerated Display Cases Market Players
The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —
-
- Carrier
- Hillphoenix (A Dover Company)
- Hussman Corporation
- Daikin Industries
- Epta Corporate
- Frigoglass
- HOSHIZAKI EUROPE B.V.
- ISA SpA
- ARNEG S.P.A
- Fagor Professional
Global Refrigerated Display Cases Market Segmentation:
- By Type
- Plug-In
- Remote
- Others
- By Application
- Retail Stores
- Restaurants & Hotels
- Others
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