Press release
Refrigerated Display Cabinets Market Set to Reach $10.86 Billion by 2029 with 5.95% Yearly Growth
Refrigerated Display Cabinets Market Share
The expansion of the food service industry is expected to drive the growth of the refrigerated display cabinet market. As the food service industry grows, driven by urbanization, changing consumer preferences, and convenience, the need for refrigerated display cabinets increases. These cabinets preserve food, attract customers, and optimize storage. For instance, in July 2023, the U.S. Department of Agriculture reported an increase in food service sector revenue from $2.11 trillion in 2021 to $2.39 trillion in 2022, driving demand for refrigerated display cabinets.
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What growth opportunities are expected to drive the refrigerated display cabinets market's CAGR through 2034?
The refrigerated display cabinets market has grown rapidly in recent years. It is forecast to rise from $8.12 billion in 2024 to $8.62 billion in 2025 at a CAGR of 6.2%. This growth is driven by stringent food safety regulations, the expansion of the retail sector, the growth of the foodservice industry, greater consumer awareness of health and wellness, the rise in online grocery shopping, and the growing demand for fresh produce.
The refrigerated display cabinets market is set to experience robust growth, reaching $10.86 billion by 2029 at a CAGR of 6.0%. The growth is attributed to rising demand for ready-to-eat foods, increasing emphasis on sustainability, demand for aesthetically pleasing and customizable display solutions, and rising disposable incomes in emerging markets. Key trends include energy-efficient technologies, IoT integration, eco-friendly refrigerants, and developments in display technology, such as OLED and curved screens.
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What are the emerging trends shaping the future of the refrigerated display cabinets market?
Companies in the refrigerated display cabinets market are emphasizing sustainable technologies, like propane-based cabinets, to improve temperature control and reduce energy consumption. Propane-based cabinets use propane (R290) as a refrigerant, offering an eco-friendly alternative to traditional refrigerants. For instance, in October 2023, AHT, an Austrian-based company, launched its KALEA range of propane-based refrigerated cabinets. These units cater to both medium- and low-temperature applications, with features like energy-efficient design and integration into glycol-water systems to reuse waste heat, thus reducing energy use and costs.
Which growth-oriented segments of the refrigerated display cabinets market are leading the industry's development?
The refrigerated display cabinets market covered in this report is segmented -
1) By Type: Frozen Type, Chilled Type
2) By Application: Beverages, Food, Medicine, Other Applications
3) By End-Users: Supermarkets, Convenience Stores
Subsegments:
1) By Frozen Type: Vertical Freezer Cabinets, Horizontal Freezer Cabinets, Chest Freezers, Multi-Deck Freezer Cabinets, Upright Freezer Cabinets
2) By Chilled Type: Vertical Chilled Cabinets, Horizontal Chilled Cabinets, Open Chilled Display Cases, Multi-Deck Chilled Cabinets, Sliding Door Chilled Cabinets
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What regions are leading the charge in the refrigerated display cabinets market?
Asia-Pacific was the largest region in the refrigerated market in 2024 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.
What companies are at the forefront of innovation in the refrigerated display cabinets market?
Major companies operating in the refrigerated display cabinets market are Panasonic Corporation, Haier Group Corporation, Carrier Corporation, Liebherr-International Deutschland GmbH, Hussmann Corporation, Hoshizaki Corporation, Epta SpA, Aucma Company Limited, Hillphoenix Inc., Qingdao Hiron Commercial Cold Chain Co. Ltd., Frigoglass S.A.I.C., Metalfrio Solutions S.A., True Manufacturing Co. Inc., AHT Cooling Systems GmbH, ISA S.p.A., Ugur Cooling, Ahmet Yar, Costan S.p.A., Zero Zone Inc., Vestforst A/S, Arneg S.p.A., Turbo Air Inc., Orford Refrigeration Pty Ltd, Verco Limited, Afinox S.p.A., Zhejiang Xingxing Refrigeration Co. Ltd.
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What Is Covered In The Refrigerated Display Cabinets Global Market Report?
•Market Size Forecast: Examine the refrigerated display cabinets market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the refrigerated display cabinets market for a structured understanding.
•Key Players Overview: Analyze major players in the refrigerated display cabinets market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the refrigerated display cabinets market.
•Segment Contributions: Evaluate how different segments drive overall growth in the refrigerated display cabinets market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the refrigerated display cabinets market.
•Industry Challenges: Identify potential risks and obstacles affecting the refrigerated display cabinets market.
•Competitive Landscape: Review strategic developments in the refrigerated display cabinets market, including expansions, agreements, and new product launches.
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