Dublin, Sept. 05, 2023 (GLOBE NEWSWIRE) -- The "Global Refrigerated Display Cases Market, By Type; By Number of Shelves; By Design; By Lighting (With Lighting, Without Lighting); By Counter Shape; By Door Type (With Door, Open, Hybrid); By Sales Channel - Estimation & Forecast, 2017-2030" report has been added to ResearchAndMarkets.com's offering.
The global refrigerated display cases market is set to experience substantial growth, propelled by factors such as an increased focus on regulatory compliance and food safety. The market, valued at USD 14.83 billion in 2022, is projected to reach USD 26.64 billion by 2030, with a Compound Annual Growth Rate (CAGR) of 7.76% during the forecast period.
The market volume, which stood at 10,558.98 thousand units in 2022, is also poised for growth with a projected CAGR of 6.91%.
Driving Factors
- Food Safety and Regulatory Compliance: As the global food retail industry expands, maintaining the freshness and quality of perishable items has become paramount. Refrigerated display cases play a pivotal role by preserving food at optimal temperatures, enhancing food safety, and minimizing the risk of foodborne illnesses. Stringent regulations governing food safety and storage are compelling the adoption of refrigerated solutions in food and beverage outlets. Consumer demand for high-quality fresh food further reinforces the need for such solutions.
- Technological Advancements: Technological advancements in refrigeration systems, including energy-efficient solutions and smart connectivity features, are driving market growth. Businesses adopting advanced refrigeration technologies not only improve energy efficiency but also comply with environmental regulations. This adoption enhances their demand for energy-efficient and environmentally friendly solutions.
Segmental Insights
- Type and Number of Shelves: The "Remote" type category has the highest projected CAGR of 8.05%. The "3 to 4" category under "Number of Shelves" holds over 45% of the market share in 2022.
- Design and Lighting: The "Countertop" segment under "Design" is projected to exceed USD 5.71 billion by 2027. Lighting plays a significant role, with "With Lighting (LED)" under the "Lighting" segment and "Open (No door)" under "Door Type" commanding over 65% and 60% of the market share, respectively, in 2022.
- Sales Channel and Regions: The "Retail" segment under "Sales Channel" is projected to exceed USD 8.65 billion by 2027. In terms of regions, North America is expected to exceed USD 7.17 billion by 2027, while the Asia Pacific region demonstrates the highest projected CAGR of 8.45%.
Competitive Landscape
Major players in the market include AHT Cooling Systems GmbH, Carrier Commercial Refrigeration, Epta SpA, Hillphoenix, Hoshizaki International, Liebherr, and Metalfrio Solutions, among others. These players collectively hold a substantial market share of around 30-40%. Strategic distributor agreements, such as the one between Carrier Commercial Refrigeration and Algidus AB in 2021, serve as key competitive strategies.
Conclusion
The global refrigerated display cases market is expected to witness robust growth driven by regulatory compliance, food safety, and technological advancements. The market's trajectory is fueled by factors like the expansion of the food retail industry, the demand for fresh food, and energy-efficient solutions. The adoption of advanced refrigeration technologies is crucial for businesses looking to enhance energy efficiency and comply with environmental regulations.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 319 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $14.83 Billion |
| Forecasted Market Value (USD) by 2030 | $26.64 Billion |
| Compound Annual Growth Rate | 7.7% |
| Regions Covered | Global |
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