Refrigerated Display Cases Market: Top Trends Driving The Industry To Reach US$ 14 Billion By 2032
The refrigerated display cases market is predicted to grow at a moderate CAGR of 5.5% during the forecast period covering 2022 to 2032. The refrigerated display cases market share is estimated to reach a value of nearly US$ 14 Billion by 2032, expanding from a total worth of US$ .2 Billion in 2022.
The refrigerated display cases (RDC) market has been registering high growth since 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 urbanization in emerging economies from will create significant opportunities for growth in the next few years.
Refrigerated display cases mostly used in retail stores and food & refreshment industry, for example, general stores/hypermarkets, supermarkets, eateries and hotels and non-routine outlets. RDCs help to attract customers through an attractive visual display of food and drink products.
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With the sector undergoing a recovery mode, the immediate as well as long-term growth outlook of refrigerated display cases the market remains positive. According to the report, the retail food and beverages sector will continue accounting for over 70% of sales of refrigerated display cases through the forecast period.
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 also will gain from the launch of low GWP refrigerants aimed at lowering environmental challenges.
Refrigerated display case market is likely to grow at a moderate pace during 2021-2031. However, as it is a matured market, companies are expected to concentrate further on research and development activities. Collaboration, mergers and acquisition with regional companies will remain key strategies adopted by market players as they aim at expanding their footprint in regional market.
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- Expansion of the supermarkets and hypermarkets will remain a chief growth driver, enabling the market rise at 5.5% CAGR between 2021 and 2031
- Rising demand for ready-to-eat food is fuelling refrigerated display cases sales across supermarkets and hypermarkets in the U.S. The country is expected to account for over 70% of the North America market
- Expansion of the food service sector will enable growth in Germany and France
- The U.K. will emerge as a strong market, exhibiting 3.8% 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 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 give tailwinds to growth. In order to woo end users, manufacturers are therefore providing competitive price offering and advanced technologies,” says FMI analyst.
The implementation of stringent government norms and regulation on 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.
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The refrigerated display cases market is fairly competitive, with key players accounting over two third of the overall market value share. These players are likely to invest in new technology developments and expansion of their networks in order to maintain their market share.
The refrigerated display cases market is fairly competitive, with key players accounting over two third of the overall market value share. These players are likely to invest in new technology developments and 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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Future Market Insights, in its new offering, provides an unbiased analysis of the global refrigerated display cases 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.