Asia-Pacific Refrigerated Display Cases Market Top Companies, Sales, Revenue, Forecast And Detailed Analysis 2030
Refrigerated Display Cases Market Scope
Market Research Future (MRFR) says that by 2030, the refrigerated display cases market size could be worth nearly USD 36,000 million, with a CAGR of 10.1% from 2022 to 2030.
The Asia-Pacific Refrigerated Display Cases Market is witnessing robust growth, driven by factors such as urbanization, changing consumer lifestyles, and increasing disposable income. Countries like China, Japan, India, and South Korea are experiencing rapid expansion in organized retail and food service sectors, thereby fueling the demand for refrigerated display cases.
Major Boosters and Restraints
Some of the factors fostering the market demand include surging consumer disposable incomes, escalating spending on packaged and ready-to-eat foods, tremendous lifestyle changes that encourage the consumption of frozen food products, and growing awareness of the importance of visual merchandising as a cost-effective way to boost retail sales and its role in encouraging impulse buying among customers.
Continuous technological advancements that encourage equipment replacements and upgrades are other important factors that is bolstering industry expansion. The commercial significance of sophisticated RDC models that can preserve food hygienically at certain conditions without microbiological or other types of contamination is also increasing as a result of stricter food safety rules and quality standards.
On the downside, the challenges slowing down the industry expansion can be the mounting environmental concerns, little awareness and limited adoption in less developed countries, and the bakery glass display case that doesn't require chilling. Therefore, thanks to technological advancements, the top market rivals are now producing energy-efficient RDCs in a range of shapes and styles to satisfy the soaring demand for low-cost freezer display cases to attract the smaller players in the commercial food industry.
Segmental Review
Plug-in, semi-plug-in, and remote are the key product-based segments considered in the study. Plug-in refrigerated display cases head the worldwide market.
The global market, with respect to design, caters to vertical, horizontal, as well as hybrid. The market is led by the vertical refrigerated display cases category.
Regional Insight
The largest and most evenly dispersed market for refrigerated display cases is in Europe. As disposable incomes have expanded, so has the demand for home appliance products. The market for refrigerated display cases in European nations is primarily driven by the rise in per-capita income and the demand for packaged food goods.
The region with the fastest growth in the refrigerated display cases market is Asia Pacific. The market benefits from increased usage of smartphones and other internet-enabled devices, the surge in disposable income, and technical improvements. Other market drivers include the rising need for refrigerated display cases in food and retail services.
North America is yet another crucial market as foods and drinks take up a lot of shop space. With the escalating consumer desire for healthful foods and an increase in available variety, demand for refrigerated foods is on the rise. Additionally, the market is anticipated to expand into the Asia Pacific, where nations like India and China are experiencing a trend reversal, making retail expansion more attractive for those in the refrigerated display cases market.
Renowned Firms
Daikin Industries Ltd, Danfoss, Epta S.p.a. Refrigeration, Dover Corporation, Frigoglass SAIC, Arneg, Illinois Tool Works, Carrier Corporation, Fagor Industrial, and Haier Group are some of the most reputed developers of refrigerated display cases in the worldwide industry.
There are many tier-1 firms in the market, along with a few local suppliers who can boast of broad product offerings. Companies like Frigoglass SAIC, Danfoss, and Carrier Corporation are dominating the global market thanks to their distinctive products, great brand recognition, and stable financial standing.
The majority of the competitors invest a lot of money on R&D while simultaneously being concerned about reducing their environmental impact. Along with these tactical actions, they develop new products, form partnerships, and make acquisitions to strengthen their market position and expand their customer base.
Recent Developments
September 2022
Commercial refrigerated display case developer, MTL Cool (Quebec) has been acquired by Due North, the recently formed operating firm from the merger of Minus Forty and QBD.
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