Ice Maker Market Report, Global Size, Growth and Industry Analysis 2022-2027

According to the latest report by IMARC Group, titled "Ice Maker Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global ice maker market size reached US$ 4.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 6.1 Billion by 2027, exhibiting at a CAGR of 4.66% during 2022-2027.

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An ice maker refers to a consumer appliance that is used for preparing ice cubes. It is widely equipped in refrigerators or industrial machines for producing ice on a large scale. It is usually integrated with a condenser, compressor, electric motor, evaporator, expansion valve and heating elements. Some of the popular ice maker variants available include portable and countertop, built-in and undercounter, modular and self-contained machines. Due to the easy availability of the product via offline and online organized retail channels, it is gaining widespread prominence among the masses.

Market Trends and Drivers:

The global market is primarily driven by the rising demand for the product across the food and beverage (F&B) industry. This is supported by the escalating consumption of chilled non-alcoholic and alcoholic beverages among the masses. Along with this, significant growth in the hospitality sector and the proliferation of pubs and bars, full-service restaurants and quick-service food joints have provided a boost to the sales of ice makers across the globe. Moreover, the widespread utilization of the product for storing organs, vaccines and medicines in the healthcare industry is acting as another growth-inducing factor. In line with this, the increasing adoption of ice makers across biotechnology and genetic engineering laboratories for storing biological samples is further contributing to the market growth. Additionally, multiple leading players are heavily investing in incorporating innovative features with ice makers, which is creating a positive market outlook. Other factors, including continual technological advancements in the manufacturing processes, the increasing number of diagnostic centers and laboratories, continual improvements in the healthcare infrastructure and extensive research and development (R&D) activities conducted by key players, are also positively influencing the market.

Key Market Segmentation:

Breakup by Product Type:

• Ice Cube Maker
• Ice Flake Maker
• Ice Nugget Maker
• Others

Breakup by End-Use Sector:

• Foodservice
• Retail
• Healthcare
• Residential
• Others

Regional Insights:

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa

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Key Highlights of the Report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

This release was published on openPR.