New York, United States , Sept. 10, 2024 (GLOBE NEWSWIRE) -- The Global Countertop Ice Maker Market is to Grow from USD 2.70 Billion in 2023 to USD 4.54 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 5.33% during the projected period.
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It is a device that can produce ice for consumer use. Countertop ice makers are common in homes, offices, recreational vehicles, and similar settings. Countertop ice makers provided a convenient and quick way to create ice as needed, without requiring an ice tray or a traditional freezer. Countertop ice makers are becoming more and more popular in offices as a way to meet the demands of both staff and customers. Businesses were looking for a simple way to provide ice for beverages or break areas. Countertop ice makers also appealed to outdoor enthusiasts who needed a useful solution for their trips and adventures, such as campers and RV owners. There is a surge in demand for chain restaurants and bars as a result of the expanding number of jobs in the service sector in emerging nations such as China and India. As a result, customers increasingly demand that there be more chilled beverages available. It is anticipated that increasing urbanization, rising disposable income, and ongoing population growth will positively impact the global ice-maker market. However, high initial expenditure costs could impede market growth.
Browse key industry insights spread across 230 pages with 100 market data tables and figures & charts from the report on the Global Countertop Ice Maker Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Ice Cube Maker, Half Cube Ice Maker, Nugget Ice Maker, and Flake Ice Maker), By Application (Residential, and Commercial), By Distribution Channel (Offline, and Online), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The ice cube maker category is expected to hold the largest market share throughout the forecast period.
Based on product type, the countertop ice maker market is classified into ice cube maker, half cube ice maker, nugget ice maker, and flake ice maker. Among these, the ice cube maker category is expected to hold the largest market share throughout the forecast period. Popular and widely used in many settings, including residences, hotels, bars, restaurants, and convenience stores, is the ice cube maker. They can create translucent, solid ice cubes in a range of sizes, making them suitable for a wide range of beverages and food preservation needs. Both the consistently expanding demand from the food service industry and the increasing popularity of ice cube makers in homes have contributed to their dominant position in the market. The expansion of the tourism business has led to a rise in the hospitality sector, which in turn has contributed to the increased demand for ice cubes on the market.
The commercial segment held the biggest share of the market over the forecast period.
Based on application, the countertop ice maker market is classified into residential, and commercial. Among these, the commercial segment held the biggest share of the market over the forecast period. Commercial countertop ice producers offer a space-saving alternative to businesses with limited area. Because of their compact size, they easily fit on workstations, freeing up valuable floor space in busy kitchens, bars, and cafés. Because they don't require complicated installation procedures or additional equipment, these ice makers are perfect for organizations that need quick and easy setups. Because more people are hosting social events like parties and barbecues at their homes, the residential category is expanding at the quickest rate. A countertop ice maker ensures a steady supply of ice for snacks and beverages, making hosting more fun.
The offline segment raises the largest share of the market during the projected timeframe.
Based on distribution channel, the countertop ice maker market is classified into offline, and online. Among these, the offline segment raises the largest share of the market during the projected timeframe. In offline locations, customers could physically inspect the ice makers to assess their construction quality and get a close-up look at their features. This hands-on experience can help consumers make more informed decisions about what to buy. Before making a purchase, potential customers can witness how the ice maker works and gauge its efficacy thanks to the in-person product demonstrations offered by many physical businesses. Nonetheless, customers can quickly and simply compare several models, prices, and features using e-commerce platforms to determine which one best suits their requirements and price range.
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Asia-Pacific is having the highest share of the global countertop ice maker market over the forecast period.
China is expected to make the largest financial contribution to the regional market's expansion. The growing population in Asia Pacific and the urbanization of countries like China and India are expected to be the main factors driving the need for ice makers in the coming years. Moreover, the growth of economies in Asian countries has led to an increase in disposable income, which has become a critical factor propelling the market's progress. Similarly, growing consumer demand for ice makers in different sizes, shapes, capacities, and price points pushes producers to create new products.
North America is predicted to grow fastest pace throughout the forecast period. The need for party and event planners in the US has been growing gradually due to the necessity to satisfy a range of food and beverage needs. Producers of countertop ice makers have an excellent opportunity to benefit from this growing market by providing their goods to meet the demands of these big events.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Countertop Ice Maker Market are GE Appliances, Frigidaire, Igloo, NewAir, Whynter, Della, Scotsman Ice Systems, ITV Ice Makers Inc., Magic Chef, Kilig, Carysil, Allied Appliances, and Other Key Vendors.
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Recent Developments
- In July 2022, Hoshizaki bought two interesting things. Initially, Hoshizaki bought Beijing RoyalKitchen Science and Technology Co. Ltd., a Chinese company that creates commercial kitchen designs. This transaction was handled by Hoshizaki China Holdings Co. Ltd., a subsidiary of Hoshizaki.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global countertop ice maker market based on the below-mentioned segments:
Global Countertop Ice Maker Market, By Product Type
- Ice Cube Maker
- Half Cube Ice Maker
- Nugget Ice Maker
- Flake Ice Maker
Global Countertop Ice Maker Market, By Application
- Residential
- Commercial
Global Countertop Ice Maker Market, By Distribution Channel
North America
-
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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