According to our latest market study on "Commercial Refrigeration Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis – by Type, Application, Door Type, and Section Type," the market was valued at US$ 28.8 billion in 2022, and it is expected to reach US$ 49.0 billion by 2030; it is estimated to register a CAGR of 6.9 % from 2022 to 2030.
It is seen that frozen foods help ensure cost efficiency and reduce food wastage, which is raising their demand. In addition, in the US, the popularity of frozen foods is rising among the population as it is the most convenient option. This is pushing the supermarkets and hypermarkets to keep a wide range of healthy frozen food options in store. Many brands provide healthy and nutritious frozen food that is gluten-free, organic, low-carb, high-protein, and more. Thus, all the above benefits of frozen and processed food are raising its demand, driving the commercial refrigeration market growth system for food service market.
In supermarket and hypermarket stores, refrigerator systems store frozen foods, vegetables, milk, and other grocery items, which requires a low-temperature environment. The increasing supermarket and hypermarkets are propelling the adoption of commercial refrigeration systems. In India various supermarket and hypermarket stores are expanding their presence. For instance, in July 2020, SunnyBee Market, a food store chain in Chennai, introduced India's first-of-its-kind self-checkout store in Besant Nagar, Chennai. Additionally, in October 2022, Vijetha Supermarkets, one of the biggest Food and Grocery retailers in Hyderabad and Andhra Pradesh, opened its 93rd store in Hyderabad. Furthermore, in October 2021, Reliance Industries Limited opened a 7-Eleven Inc. convenience store in India, with the first store set in Mumbai. Such types of supermarket and hypermarket launches propel the adoption of the commercial refrigerator market growth in India.
Commercial freezers are used to cool and store ingredients, food, and beverages for a considerable period by restaurants, hotels, and coffee shops. They store food items at the required temperature and prevent them from contamination. They are particularly used to display cold drinks, meats, and vegetables and store ice creams and other chilled/frozen goods in supermarkets and hypermarkets. Thus, its rising use in the above establishments to store food and beverages is fueling the commercial refrigeration market growth.
Due to the increasing consumption of frozen food, various commercial refrigerators manufacturers have launched their products for the food & beverages industry. For instance, in April 2023, Elista launched its new range of chest freezers, which feature a robust design, enhanced cooling capabilities, and a spacious interior. Elista has introduced various chest freezers in three capacities - convertible chest freezer, combi chest freezer, and visible cooler. All these high-capacity freezers are ideal for storing frozen food and beverages. Such product launches are propelling the adoption of freezers in the food & beverages industry, propelling the commercial refrigeration market growth. The commercial refrigeration market size is segmented into type, application, door type and section type. Based on type, the commercial refrigeration market size is segmented into refrigerator, freezer, heated cabinets, milk coolers, chef bases, full size undercounters, full size prep tables refrigerator and freezers, back bar, blast chillers, and others. The commercial refrigeration market, by application, is categorized into hospitality and institutional. Based on section type, the market is categorized into single, dual, and multi. Based on type, the commercial refrigeration market size is categorized into single, dual, and multi.
Beverage-Air Corp, National Refrigeration & A/C Products Inc, Hoshizaki Corp, Victory Refrigeration, True Manufacturing Co Inc, Liebherr USA Co, Marmon Holdings Inc, Traulsen & Co Inc, Turbo Air Inc, and BuSung America Corp. are among the key players profiled during the study on the commercial refrigeration market. Several other major commercial refrigeration market players were studied and analyzed during this market research study to get a holistic view of the commercial refrigeration market and its ecosystem. The commercial refrigeration market report provides detailed commercial refrigeration market insights, which would help key players strategize their growth.