Freezer and Beverage & Wine Coolers Market is Anticipated to Grow at an Impressive CAGR
Stratview Research delivers key insights on the global Freezer and Beverage & Wine Coolers Market. According to Stratview Research, the market is segmented By Type (Ice-cream Freezers, Chest Freezers, Upright Freezers, Beverage Coolers, Wine Coolers), End-Use (Commercial {Cold Storages and Warehouses, Retail and Specialty Stores, Food & Beverage Processing, Hotels and Restaurants, Others}, Residential), and Region.
The report also covers the Covid impact on the market. Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and an uptrend is witnessed from 2021.
Market Insights
The report suggests that the overall Freezer and Beverage & Wine Coolers market is projected to grow from USD 1.6 billion in 2020 to USD 2.1 billion by 2026 at a CAGR of around 4.6% during the forecast period.
Market Segments' Analysis
By end-use, the freezer and beverage & wine coolers market have been bifurcated into commercial and residential. The commercial segment has been further sub-segmented into cold storage and warehouses, retail and specialty stores, food & beverage processing, hotels and restaurants, and others. Under these, the commercial segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period.
By region, the market in North America accounted for the largest market share in 2020 and is projected to grow at a significant CAGR during the assessment period. The regional growth is primarily attributed to the high consumption rate of packaged beverages coupled with the presence of key market players such as General Electric Company (US). The market growth in the Asia-Pacific region is expected to be driven by increasing consumption of healthy and nutritious drinks in developing countries particularly China and India coupled with rising per capita disposable income of the consumers.
Key Players
The following are some of the key players in the Freezer and Beverage & Wine Coolers Market:
· Electrolux AB (Sweden)
· Concepcion Industrial Corporation (Philippines)
· Frigoglass (Greece)
· General Electric Company (US)
· HOSHIZAKI CORPORATION (Japan)
· Midea Group (China)
· GEA RSA (Indonesia)
· Sanden Intercool Public Co.,LTD. (Thailand)
· Sharp Corporation (Japan).
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