Ice Makers Market

Growing food service industry boosts the market growth.

A significant producer of ice is the food service sector. A sizable portion of ice maker sales is attributable to restaurants, cafés, bars, and hotels. Ice makers are preferred by foodservice operators for a variety of alcoholic and non-alcoholic beverages. Clear ice is desired by the food industry due to its aesthetically pleasing look. In addition, clear, bubble-free, and impurity-free ice melts more slowly than regular ice, limiting the amount of dilution of beverages.

Sales of ice makers in the catering food service sector are also increasing because of the rise in the consumption of mocktails and cocktails during social gatherings, business conferences, and concerts. As a result, the food service sector is a significant market for ice maker producers worldwide.

Additionally, The US National Restaurant Association projects that the country's restaurant business generated USD 789 billion in sales in 2021. Similarly, the Indian food service sector is anticipated to grow at a CAGR of 9% from 2020 to 2025, according to the Federation of Indian Chambers of Commerce and Industry (FICCI).

The emergence of home ice makers represents a growing segment within the Global Ice Makers Market Industry. As consumers increasingly seek convenience and customization in their home appliances, the demand for compact and efficient ice-making machines rises. These devices cater to households that desire a steady supply of ice for personal use, particularly during social gatherings and events. The trend towards home ice makers is indicative of changing consumer lifestyles, where convenience and functionality are prioritized. This segment's growth may contribute to the overall market expansion, aligning with the projected CAGR of 4.31% from 2025 to 2035.

Health and safety regulations are increasingly shaping the Global Ice Makers Market Industry. Stringent guidelines regarding food safety and hygiene necessitate the use of high-quality ice in food service establishments. Compliance with these regulations drives the adoption of advanced ice-making technologies that ensure cleanliness and safety. For instance, ice makers equipped with filtration systems help eliminate contaminants, thereby enhancing the quality of ice produced. As businesses prioritize compliance with health standards, the demand for reliable and safe ice-making solutions is likely to rise, further contributing to market growth.

Technological innovations play a critical role in shaping the Global Ice Makers Market Industry. The introduction of energy-efficient and smart ice-making machines enhances production capabilities while reducing operational costs. These advancements not only improve the quality of ice but also cater to the growing emphasis on sustainability. For instance, modern ice makers utilize advanced refrigeration technologies that minimize energy consumption. As a result, businesses are likely to invest in these innovative solutions, further propelling market growth. The anticipated CAGR of 4.31% from 2025 to 2035 underscores the importance of technology in driving the industry's evolution.

The hospitality and tourism sector significantly influences the Global Ice Makers Market Industry. With an increase in global travel and tourism activities, hotels, resorts, and entertainment venues require substantial ice supplies to cater to guests. This demand is particularly pronounced in regions with warm climates, where ice is essential for beverages and food preservation. As the industry expands, the need for reliable ice-making solutions becomes more critical. The projected market growth from 2725.5 USD Billion in 2024 to 4335.7 USD Billion by 2035 reflects the hospitality sector's contribution to the overall demand for ice makers.

The Global Ice Makers Market Industry experiences a notable surge in demand driven by the food and beverage sector. As consumer preferences shift towards chilled beverages and frozen foods, the need for high-quality ice production becomes paramount. In 2024, the market is projected to reach 2725.5 USD Billion, reflecting the industry's response to evolving consumer habits. Restaurants, bars, and catering services increasingly rely on efficient ice makers to meet customer expectations. This trend indicates a robust growth trajectory, as the industry adapts to the rising demand for ice in various culinary applications.

By Region, the study segments the market into North America, Europe, Asia-Pacific, and the Rest of the World. The North America Ice Makers market accounted for USD 787.76 million in 2021 and is expected to exhibit a 2.59% CAGR during the study period. North America is an attractive market for manufacturers of ice makers. The expansion of the regional market is attributable to the presence of a well-established food service sector with lots of pubs and restaurants.

The regional market is expanding as a result of the rising alcoholic and other beverage consumption, manufacturer product portfolio expansion, and a sizable consumer base.

Further, the major countries studied are the U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 5: ICE MAKERS MARKET SHARE BY REGION 2021 & 2030 (%)

Source Secondary Research, Primary Research, Market Research Future Database, and Analyst Review

Europe Ice Makers market accounts for the second-largest market share. The Ice makers market in Europe is expected to grow during the assessment period owing to factors such as increasing expenditure on home appliances and the launch of premium products. Further, the Germany Ice Makers market held the largest market share, and the UK Ice Makers market was the fastest-growing market in the European region.

The Asia-Pacific Ice Makers Market is expected to grow at a significant CAGR from 2022 to 2030. This is due to the region's growing food and beverage, and pharmaceutical industries. Moreover, the China Ice Makers market held the largest market share, and the India Ice Makers market was the fastest-growing market in the Asia-Pacific region.

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Ice Makers market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Ice Makers industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

One of the primary business strategies adopted by manufacturers in the Ice Cream Makers industry to benefit clients and expand the Ice Makers’ market sector is to manufacture locally to reduce operating costs.

Hoshizaki Corporation is a well-known ice makers company committed to improving the lives of people through world-class ice-making services, and solutions. In January 2022 Hoshizaki acquires rival icemaker Brema. The acquisition is taking place through the Japan-headquartered firm's European subsidiary, Hoshizaki Europe Holdings, with the division declaring that the purpose of the move is to make it "the number one commercial icemaker manufacturer in Europe". Hoshizaki stated in a statement that the acquisition will expedite its progress in the market that it considers one of its top priorities, and it explained why it was buying a dealer business.

Also, Koller refrigeration & equipment (Hong Kong), a leader in ice making uses their world-class ice maker in tunneling concrete cooling in Hainan, China. This can make a 25kg ice block, which is used to manage the temperature of the concrete to ensure its strength. Further, in January 2021, Cornelius Inc. (US) gets $ 3 million in ARPA funding.