Refrigerated Display Cabinets Global Market 2024 To Reach $10.26 Billion By 2028 At Rate Of 6.1%
Refrigerated Display Cabinets Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
LONDON, GREATER LONDON, UK, July 24, 2024 /EINPresswire.com/ -- The refrigerated display cabinets market3 has experienced robust growth in recent years, expanding from $7.66 billion in 2023 to $8.12 billion in 2024 at a compound annual growth rate (CAGR) of 6%. The growth in the historic period can be attributed to stringent regulations regarding food safety, increased expansion of the retail sector, growing foodservice industry, increased consumer awareness of health and wellness, the growth of online grocery shopping, increased demand for fresh produce.
Strong Future Growth Anticipated
The refrigerated display cabinets market is projected to continue its strong growth, reaching $10.26 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to growing demand for ready to eat foods, growing emphasis on sustainability, increasing demand for aesthetically pleasing and customizable display solutions, increasing consumer preference for fresh and perishable goods, rising disposable incomes in emerging economies, rising demand for specialty refrigerated display cabinets, rising demand for modular and customizable refrigerated cabinets, increasing investment in cold chain infrastructure.
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Growth Driver Of The Refrigerated Display Cabinets Market
The expansion of the food service industry is expected to propel the growth of the refrigerated display cabinet market going forward. The food service industry includes businesses that prepare, serve, and deliver food and drinks, such as restaurants, cafes, food trucks, and catering services. The food service industry is expanding with options for convenient dining options, changing consumer preferences, increased urbanization, and the popularity of food delivery services. Refrigerated display cabinets in the food service industry preserve perishables food items, attract customers with appealing displays, and optimize storage.
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Major Players And Market Trends
Key players in the refrigerated display cabinets market include Panasonic Corporation, Haier Group Corporation, Carrier Corporation, Liebherr-International Deutschland GmbH, Hussmann Corporation.
Major companies operating in the market of refrigerated display cabinets are developing sustainable technologies, such as propane-based cabinets, to enhance temperature control and reduce energy consumption. Propane-based refrigerated cabinets utilize propane (R290) as a refrigerant, providing a greener alternative to traditional refrigerants.
Segments:
1) By Type: Frozen Type, Chilled Type
2) By Application: Beverages, Food, Medicine, Other Applications
3) By End-Users: Supermarkets, Convenience Stores
Geographical Insights: Asia-Pacific Leading The Market
Asia-Pacific was the largest region in the refrigerated market in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the refrigerated display cabinets market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Refrigerated Display Cabinets Market Definition
Refrigerated display cabinets are specialized commercial refrigeration units designed to store and display perishable goods at specific temperatures to preserve their freshness and extend their shelf life. These cabinets are commonly used in retail environments such as supermarkets, grocery stores, convenience stores, and food service establishments. They are equipped with transparent doors or open fronts, allowing customers to view and access the products easily while maintaining the required cooling conditions.
Refrigerated Display Cabinets Global Market Report 20242 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Refrigerated Display Cabinets Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on refrigerated display cabinets market size, refrigerated display cabinets market drivers and trends, refrigerated display cabinets market major players, refrigerated display cabinets competitors' revenues, refrigerated display cabinets market positioning, and refrigerated display cabinets market growth across geographies. The refrigerated display cabinets market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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