The report analyses 20+ high-growth markets and provides detailed information on refrigerator display cases. Market growth will evolve in the next decade. Increasing refrigerated display case sales are set to enable the market’s valuation to reach US$9.6 billion in 2021. Future Market Insights (FMI) in a study has predicted stable, long-term growth for the market.
The refrigerated display case (RDC) market has been registering high growth for the last few years. This growth is projected to continue over the coming years due to increasing demand from the food retail sector. The increasing population and rapid urbanisation in emerging economies will create significant opportunities for growth in the next few years.
Refrigerated display cases are mostly used in retail stores and the food and refreshment industry, for example, general stores and hypermarkets, supermarkets, eateries, hotels, and non-routine outlets. RDCs help to attract customers through an attractive visual display of food and drink products.
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The refrigerated display case market’s immediate and long-term growth prospects remain positive. According to the report, the retail food and beverage sector will continue to account for over 70% of sales of refrigerated display cases through the forecast period.
The introduction of high-performance and connected refrigerated display cases with real-time cloud access and maintenance will create lucrative growth opportunities. In the coming years, the market will also benefit from the launch of low GWP refrigerants aimed at lowering environmental challenges.
- The expansion of supermarkets and hypermarkets will remain a chief growth driver, enabling the market to rise at a 5% CAGR between 2021 and 2031.
- Rising demand for ready-to-eat food is fuelling refrigerated display case sales across supermarkets and hypermarkets in the U.S. The country is expected to account for over 70% of the North American market.
- Expansion of the food service sector will enable growth in Germany and France.
- The U.K. will emerge as a strong market, exhibiting 8% y-o-y growth in 2021 after a period of decelerating sales in 2020.
- While China currently holds dominance, Japan will emerge as the leading market in East Asia, backed by rising demand for packaged food.
“Recent developments in the food service and food retail sectors are creating lucrative prospects for the market. Consumers’ inclination towards add-on features like real-time maintenance, remote access, and others is increasing, which is expected to provide tailwinds to growth. In order to woo end users, manufacturers are therefore providing competitive price offerings and advanced technologies, “says an FMI analyst.
The implementation of stringent government norms and regulations on the use of refrigerant for cooling is estimated to create high growth avenues for the refrigerated display case market. The increasing focus on eco-friendly and sustainable refrigerated display cases in developed and developing economies across the globe is creating growth opportunities.
The refrigerated display case market is fairly competitive, with key players accounting for over two-thirds of the overall market value. These players are likely to invest in new technological developments and the expansion of their networks in order to maintain their market share.
The refrigerated display case market is fairly competitive, with key players accounting for over two-thirds of the overall market value. These players are likely to invest in new technological developments and the expansion of their networks in order to maintain their market share. Some of the key players in the market are Carrier Corporation, Frigoglass SAIC, Epta S.p.a. Refrigeration, Dover Corporation, Haier Group, Arneg S.p.A, Illinois Tool Works, Daikin Industries, Ltd., Fagor Industrial, and others.
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The cooled display case market is likely to grow at a moderate pace during 2021–2031. However, as it is a mature market, companies are expected to concentrate further on research and development activities. Collaboration, mergers, and acquisitions with regional companies will continue to be key strategies used by market players seeking to expand their presence in the regional market.
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Future Market Insights, in its new offering, provides an unbiased analysis of the global refrigerated display case market, presenting historical demand data (2016–2020) and forecast statistics for the period from 2021–2031. The refrigerated display cases market study uncovers convincing bits of knowledge based on type (plug-in, semi-plug-in, and remote), design (vertical, horizontal, and hybrid), and end user (food service sector and retail food and beverages sector) across six key regions.