According to the Graphical Research new growth forecast report titled “North America Beverage Refrigeration Market Size By Product (Under-Counter Beverage Refrigerator [Gliding Door, Swing Door], Countertop Beverage Refrigerator [Gliding Door, Swing Door], Storage Beverage Refrigerator, Milk Coolers) Industry Analysis Report, Country Outlook (U.S., Canada), 2018-2024”, estimated to exceed USD 1.2 billion by 2024.
Increasing demand for cold and chilled beverages, technological advancements in the refrigeration systems coupled with grants on energy efficient products are the major factors driving beverage refrigeration market.
Manufacturers have been able to reduce cooling time and introduce energy efficient refrigerators owing to the technological progress. Major players in the market are proactive in offering improved refrigeration solutions that retain the quality, flavor and taste of the beverages for a longer period, thereby propelling the product penetration.
Under counter beverage refrigerator accounted for the largest share in the product segment and was valued at over USD 460 million in 2017. The customization of design, improved temperature control and shelving will foster growth in the market. In addition to saving space, under counter beverage refrigerators also add to the aesthetic appeal, making them ideal for pubs, bars, professional kitchens and specialty food outlets.
Swing door refrigerators held greater share in commercial perspective. They are extensively used in supermarkets and hypermarkets where saving space is a key factor for the purchase of refrigeration systems. On the other hand, gliding door refrigerators are mostly used in bars and alcohol retail shops where access to all the products available in the refrigerator is preferred.
The supermarkets and hypermarket segment serve as the largest end-use application for the beverage refrigeration market. Growing penetration of the supermarket and hypermarket outlets owing to increased consumer expenditure on food & beverages will augment the market demand for refrigeration system.
U.S. beverage refrigeration market accounted for over 80% of the market share in the region. Strong demand for chilled alcoholic and non-alcoholic beverages coupled with a high density of convenience stores are the major drivers of the demand.
Prominent manufacturers in the North America beverage refrigeration market are Summit Appliances, Avanti, Allavino, Danby, Whirlpool, General electronics, Haier, Koolatron, HABCO, Marvel and Electrolux. The market is highly competitive due to the presence of several local and multinational players. Technological advancements and innovation will play a crucial role in shaping the market dynamics.
Segments cover:
North America Beverage Refrigeration Market By Product
• Under counter beverage refrigerator
- Gliding door
- Swing Door
• Countertop beverage refrigerator
- Gliding door
- Swing door
• Storage beverage refrigerator
• Milk cooler
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