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ESOMAR-certified consulting firm Future Market Insights’ report on refrigerated display cases market presents a significantly positive outlook through 2021. According to the report, the market is expected to reach a valuation of US$ 9.5 Bn in 2021. Growing demand for sustainable and energy efficient products to provide industry specific applications is primarily underpinning expansion prospects. Furthermore, FMI projects the market to rise at a CAGR of nearly 5.5% CAGR through 2031.
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Expansion of the retail sector, including hypermarkets and supermarkets are expected to provide lucrative growth opportunities for the market players. Prominent manufacturers are consistently investing in research & development (R&D) activities to manufacture more technologically advanced and energy efficient products.
Also, the demand for refrigerated display cases within retail food & beverages sector will accelerate the sales across Germany, India, and China. Furthermore, stringent government regulations to manufacture low global warming potential refrigerants is pushing the key players to adopt advanced technology for the manufacturing of sustainable options. Hence, demand for eco-friendly refrigerated display cases has amplified within the end-user, providing growth opportunities for manufacturers.
“Recent developments in the food retail sectors and adoption of advanced technology for the manufacturing of eco-friendly refrigerated display cases are creating growth opportunities for the key players,” says the FMI analyst
Key Takeaways
Retail food & beverage sector is expected to remain dominant throughout the forecast period
In terms of type, remote refrigerated display cases to remain high in demand through 2021 and beyond
Germany is expected to remain one of the most remunerative market backed by the expansion of food & beverage industry in the region
India is expected to be the largest refrigerated display cases market in South Asia owing to the expansion of supermarkets & retail sector in India
The United States is anticipated to hold over 70% of total market share through 2031
Japan is likely to lead the East Asia refrigerated display cases market, followed by China
Expansion of food & beverage sector across UK, Germany and France will drive the sales of refrigerated display cases across Europe
The UAE and Saudi Arabia are leading the MEA refrigerated display cases market on the back of increasing demand within food & beverage industry
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Competitive Landscape
Carrier Corporation, Danfoss A/S, Frigoglass SAIC, Epta SPA Refrigeration, Dover Corporation, Haier Group, Arneg SPA, Illinois Tool Works, Daikin Industries, Fagor Industrial, and Carel Industries SPA among others are some of the key manufacturers profiled by Future Market Insights. Manufacturers are focusing on product innovation and new launched to woo the end users. Key players are also investing highly in R&D activities to meet the requirement of government for sustainable and eco-friendly refrigerated display cases.
For instance, recently Dover Food Retail announced the launch of EcoBlade, an innovative, shelf-edge technology designed to reduce energy consumption and improve product temperatures in Hillphoenix open refrigerated display cases.
Also, on 12th January 2021, Arneg announced two refrigerated cabinet lines, VELDEN LX, and Sendai 2 in semi-vertical and island form dedicated to promote gastronomic excellences such as cold cuts and fresh packaged products.
More Insights on the Global Refrigerated display cases Market
In its latest report, Future Market Insights provides an exhaustive analysis on the key growth drivers and factors affecting the global refrigerated display cases market over the forecast period of 2021 and 2031. To gain a better understanding on the markets’ key segments and sub-segments, FMI has segregated the market on the basis of type (plug-in, semi plug-in, and remote), design (vertical, horizontal, and hybrid), end-use (food service sector (quick service restaurants, bakeries, hotels, and others), and retail food & beverage sector (fuel station stores, hypermarkets & supermarkets, and discount stores)), and regions (North America, Latin America, Europe, East Asia, South Asia Pacific, and Middle East & Africa)
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Key Questions Covered in the Report
How will the demand of refrigerated display cases will evolve in the future?
Which type of refrigerated display cases are expected to remain lucrative throughout the forecast period?
What are the key drivers will impact the refrigerated display cases market?
What are the challenges that will impact the refrigerated display cases market demand?
Which region will remain the most lucrative through 2031?
What is the impact of Covid-19 on refrigerated display cases market?
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Contact Info:
Name: Abhishek Budholiya
Email: Send Email
Organization: Future Market Insights
Website: https://www.futuremarketinsights.com/reports/refrigerated-display-cases-industry-market
Release ID: 89019771
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