The Prep Refrigerators Market Set to Grow at a 4.5% CAGR, Anticipated to Reach US$ 12.7 Billion by 2033

The global prep refrigerators market is on a trajectory of significant growth, poised to reach a valuation of US$ 8.2 billion by the year 2023. This remarkable surge is being powered by a burgeoning demand for eco-friendly refrigeration solutions, which is reshaping the landscape of the refrigeration industry. With a projected Compound Annual Growth Rate (CAGR) of 4.5% between 2023 and 2033, it is anticipated that the prep refrigerators market will ascend to an impressive US$ 12.7 billion by 2033.

One of the driving forces behind this remarkable expansion, as highlighted by Future Market Insights, is the escalating adoption of commercial kitchens. The food service industry, in particular, is experiencing rapid growth, with emerging economies taking the lead. This surge in the food service sector has given rise to large-scale food production, necessitating specialized equipment like commercial kitchens. Within these commercial kitchens, prep refrigerators play a pivotal role in ensuring food safety, quality, and efficiency.

The increasing preference for commercial kitchens is closely tied to evolving consumer habits. Dining out, ordering takeout, or enjoying home-delivered meals have become commonplace in today's fast-paced world. As a result, restaurants, cafes, catering services, and other food-related businesses are striving to meet the growing demand for freshly prepared, high-quality food. This shift is underpinned by the desire for convenience and the pursuit of unique culinary experiences.

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The growth of the prep refrigerators market is also being driven by the expansion of the food service industry in emerging economies. A growing need for commercial kitchens and food storage solutions has been witnessed, as more people dine out more frequently. The need for customized and flexible refrigeration solutions that can meet the unique needs of individual businesses is also piquing the interest of food service providers in prep refrigerators.

- Key Takeaways:

The global prep refrigerators market was valued at US$ 7.8 Billion by 2022.

From 2018 to 2022, the market demand expanded at a CAGR of 2.3%.

North America is expected to hold a dominant CAGR of 4.4% during the forecast period.

By type, combination refrigerated prep tables are expected to rise in demand at a CAGR of 4.3%.

By distribution channel, online retail stores are expected to dominate the market with a CAGR of 4.2%.

- Competitive Landscape:

Prominent players in the prep refrigerators market are TRUE, Empura, Dover Corporation, Electrolux Professional, The Middleby Corporation, Delfield, Nella, New Air, Atosa, Beverage Air, Turbo Air, Universal, Haier Group, Hoshizaki, and Leader, among others.

- Recent Developments:

In 2021, True Manufacturing announced the launch of a new line of glass door refrigerators and freezers that use natural refrigerants and are designed to be highly energy-efficient. The company also expanded its production facilities in Missouri to meet the growing demand for its products.

In 2021, Dover Corporation completed the acquisition of So-Low Environmental Equipment Co., a manufacturer of low-temperature freezers and refrigerators. The acquisition is expected to expand Dover's product portfolio and strengthen its position in the scientific and healthcare markets.

In 2021, Hoshizaki Corporation announced the launch of a new line of prep refrigerators with advanced features such as remote monitoring and digital controls.

- More Valuable Insights Available:

Future Market Insights offers an unbiased analysis of the global prep refrigerators market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the prep refrigerators market, the market is segmented on the basis of type (prep tables with doors, prep tables with drawers, and combination refrigerated prep tables), by top type (standard top, mega top, and cutting top), refrigeration method (air-cooled, cold wall, and liquid jacket), by distribution channel (offline stores, and online retail store) across five major regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).

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- Key Segments Profiled:

By Type:
Prep Tables with Doors
Prep Tables with Drawers
Combination Refrigerated Prep Tables

By Top Type:
Standard Top
Mega Top
Cutting Top

By Refrigeration Method:
Air Cooled
Cold Wall
Liquid Jacket

By Distribution Channel:
Offline Stores
Hypermarkets
Departmental Stores
Multi-brand Stores
Discount Stores
Specialty Stores
Online Retail Stores

By Region:
North America
Latin America
Europe
Asia Pacific
Middle East & Africa

Author:

Ronak Shah (Associate Vice President at Future Market Insights) is deeply committed to uncovering actionable insights for consumer and food and beverage players. She brings a unique blend of analysis, industry trends, and consumer behavior to put data into perspective.

What she makes out of data becomes a delight to read. She has authored many opinions, including for publications like Process Industry Informer and Spinal Surgery News, as she understands the market pulse and consumers' shifting preferences.

She likes to bring experts to a roundtable to weigh the impact of a trend on an industry.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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This release was published on openPR.