Demand from Retail Food and Beverages Sector to Account for over 70% of Refrigerated Display Cases Sales: Study

Increasing refrigerated display cases sales are set to enable the market’s valuation to reach US$ 9.5 Bn in 2021. Future Market Insights (FMI) in a study has predicted stable long-term growth for the market. The report offers analysis in 20+ high-growth markets, providing detailed insights on Refrigerated Display Cases Market growth will evolve in the next decade. The demand for refrigerated display cases declined in 2020, due to the recessionary effects of COVID-19 on the foodservice sector activities. However, barring a few countries, the activities in the food and beverage industry have resumed at a healthy rate post Q2 of the financial year.

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With the sector undergoing a recovery mode, the immediate as well as long-term growth outlook of refrigerated display cases the market remains positive. According to the report, the retail food and beverages sector will continue accounting for over 70% of sales of refrigerated display cases through the forecast period.

The introduction of high-performance and connected refrigerated display cases with real-time cloud access and maintenance will create lucrative growth opportunities. In the coming years, the market also will gain from the launch of low GWP refrigerants aimed at lowering environmental challenges.

Key Takeaways

Expansion of the supermarkets and hypermarkets will remain a chief growth driver, enabling the market to rise at 5.5% CAGR between 2021 and 2031
Rising demand for ready-to-eat food is fuelling refrigerated display cases sales across supermarkets and hypermarkets in the U.S. The country is expected to account for over 70% of the North American market
Expansion of the foodservice sector will enable growth in Germany and France
The U.K. will emerge as a strong market, exhibiting 3.8% y-o-y growth in 2021 after a period of decelerating sales in 2020
While China currently holds dominance, Japan will emerge as the leading market in East Asia backed by rising demand for packaged food

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“Recent developments in food service and food retail sectors are creating lucrative prospects for the market. Consumers’ inclination towards add-on features like real time maintenance, remote access, and others is increasing, which is expected to give tailwinds to growth. In order to woo end users, manufacturers are therefore providing competitive price offering and advanced technologies,” says FMI analyst.

The implementation of stringent government norms and regulations on the use of refrigerants for cooling is estimated to create high growth avenues for the refrigerated display case market. The increasing focus on eco-friendly and sustainable refrigerated display cases in developed and developing economies across the globe is creating growth opportunities.

Competitive Landscape

The refrigerated display cases market is fairly competitive, with key players accounting for over two-thirds of the overall market value share. These players are likely to invest in new technology developments and the expansion of their networks to maintain their market share.

Some of the key players in the market are

Carrier Corporation,
Frigoglass SAIC,
Epta S.p.a. Refrigeration,
Dover Corporation,
Haier Group,
Arneg S.p.A,
Illinois Tool Works,
Daikin Industries, Ltd.,
Fagor Industrial, and others.

The refrigerated display case market is likely to grow at a moderate pace during 2021-2031. However, as it is a matured market, companies are expected to concentrate further on research and development activities. Collaboration, mergers, and acquisitions with regional companies will remain key strategies adopted by market players as they aim at expanding their footprint in the regional market.

Refrigerated Display Cases Market

Type:

Plug-In Refrigerated Display Cases
Semi Plug-In Refrigerated Display Cases
Remote Refrigerated Display Cases

Design:

Vertical Refrigerated Display Cases
Horizontal Refrigerated Display Cases
Hybrid Refrigerated Display Cases

By End-Use:

Food Service Sector
Quick Service Restaurants
Bakeries
Hotels
Others
Retail Food & Beverage Sector
Fuel Station Stores
Hypermarkets
Supermarkets
Discount Stores

By Region:

North America
Latin America
Europe
East Asia
South Asia & Pacific
MEA

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Get Valuable Insights into Refrigerated Display Cases Market Report

Future Market Insights, in its new offering, provides an unbiased analysis of the global refrigerated display cases market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The refrigerated display cases market study uncovers convincing bits of knowledge based on type (plug-in, semi plug-in, and remote), design (vertical, horizontal, and hybrid), and end-user (foodservice sector and retail food and beverages sector) across six key regions.

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