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The refrigerated display case market, which is anticipated to grow at a compound annual growth rate (CAGR) of 10.1% between the years 2022-2030 and to reach $36,000 million by the end of the carbon cycle. The shops that display their products with these refrigerated display cases are in possession of food and beverage stores such as supermarkets or coffee shops, hotels, and other commercial entities. By providing visual display of food and beverages RDCs help to increase consumer flow towards the supermarket.
The refrigerated display cases market is linear with the existence of various factors that work together to propel the dynamics and growth rate of the said market. The major force affecting the need for refrigerated display cases is the food retail and food service industries, considering that both freshness and visibility are essential for these products. With the growing number of consumers who highly value freshness and quality, shops and food establishments invest in refrigeration displays to showcase foods such as fresh products, dairy and meat products, and ready-to-eat items. The market fills this gap through the variety of refrigerated display units that include glass display cases, open-front coolers, or multideck refrigerators all customized to suit specific merchandising needs by different retail spaces.
Efficiency and sustainability issues have been talking points in market talk for quite some time now. In addition to growing knowledge, people are becoming more concerned about energy conservation and lowering environmental harm caused from refrigeration. Producers counter-react by designing energy-efficient displaycases with such qualities as Led lighting and advanced insulation materials and environmentally friendly refrigerants. The market adapts its behavior so that the companies are forced to look for sustainable options in refrigeration to match with consumer expectations and legal demands.
Recognizing the impact of technology on the refrigerated display cases market, one should mention the prominent role that technological innovation has played in the development of this market. The producers are always up to speed with regards to improvement, functionality and connectivity. Incorporating intelligent refrigerated display units with abilities such as temperature monitoring, remote diagnostics, and data analytics would help companies in reducing energy use and preserve fresh product. By connecting a digital display and a touchscreen interface, customers can be further engrossed and get an opportunity to watch dynamic content. The market answers the call by introducing new technologies that, in large part, propel corporate performance.
Refrigerated Display Cases Market Highlights:
Refrigerated Display Cases Market Overview
The Refrigerated Display Cases market size is projected to reach approximately $36,000 Million by 2030, at a CAGR of 10.1% from 2022 to 2030. Refrigerated display cases are usually seen in retail establishments and the food and beverage business, such as supermarkets, cafés, motels, and non-routine outlets. RDCs assist in attracting customers by providing a visually appealing display of food and beverage products. Furthermore, the demand for the global refrigerated display case market has been pushed by an expanding retail network and commercial sector for ready-to-eat and prepared food items.
COVID-19 Impact Analysis
The outbreak of COVID has affected the global economy. As the virus started to spread across the world rapidly. The various economy started to impose quarantine and lockdowns across the country. Given the recent disruption caused by COVID-19, there was a minor setback in production and supply chain activities. COVID-19 has caused severe economic impacts on whole industries, which are being seen in the retail industry. The refrigerated display cases market is expected to fall by 2020 because of the COVID-19 pandemic crisis. With several project and order cancellations, the supply and demand are expected to result in a significant drop in global growth.
Market Dynamics
The refrigerated display cases market is expected to grow during the coming years. The growth of the market can be attributed to the increasing demand for cold storage, which in turn, has been driven by the increase in food and beverage production as well as rising disposable income.
Drivers
- Increase in demand for frozen food and drinks
The major factor driving the growth of the refrigerated display cases market is the need for convenience in food and beverage processing. The demand for healthy, fresh, and hygienic food is on the rise, and ultimately the demand for refrigerated display cases produced from quality material is also on the rise. The market is majorly driving the growth of the segment because the demand for frozen food and drinks is increasing day by day due to the modern lifestyle, which demands quick and easy access to food and beverage. Changing consumer preferences for quality and hygienic food and high consumer spending power are further expected to propel the growth of the refrigerated display cases market shortly.
Restraint
- Limited adoption and lack of awareness
The major factor restraining the growth of the refrigerated display cases market is low awareness and limited adoption in less developed regions. One of the primary reasons for the limited adoption is the lack of awareness of the customers in the market. The refrigerated display cases are predominantly used by restaurants and hotels, which are mostly in more developed regions. Moreover, the use of the refrigerated display cases is more in the developed regions, which can be a hindrance to the growth of the market in the less developed regions.
Opportunity
- Increase in investment in refrigerated display cases
The major opportunity in the refrigerated display cases market is that large businesses are now investing in refrigerated display cases. Bigger grocery stores want to update their equipment to accommodate the growing demand. refrigerated display cases reach millions of potential consumers, the market has been stimulating the interest of foreign investors. Foreign investments in the market will be the driving force for market growth. The market is still in its initial stage of development; however, the market is expanding quickly.
Segment Overview
By Type
Based on type, the global market has been divided into plug-in, semi plug-in, and remote. Refrigerated Display Cases market share was dominated by plug-in refrigerated display cases.
By Design
Based on the design, the global market has been divided into vertical, horizontal, and hybrid. The vertical refrigerated display cases segment dominated the market.
Regional Analysis
By region, the global refrigerated display cases market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. Europe accounted for the largest market share. Asia-Pacific is projected to exhibit the highest CAGR during the review period.
Europe Market
The European region is the largest and most widely distributed market for refrigerated display cases. Demand for home appliance goods has increased with the rise in disposable incomes. The growth in the per-capita income and the rise in demand for packaged food products are the main factors that drive the market for refrigerated display cases across European countries.
Asia-Pacific Market
Asia-Pacific is expected to witness the highest growth during the forecast period in the global Refrigerated Display Cases market. The market is driven by factors such as growing demand for refrigerated display cases in retail and food services, rising penetration of smartphones and other internet-enabled devices, rise in disposable income, and technological advancements.
Competitive Landscape
Tier-1, tier-2, and local players compete in the market. Tier-1 and tier-2 players have a global footprint and varied product ranges. Due to product differentiation, financial stability, strategic advancements, and a diverse regional presence, companies such as Carrier Corporation, Danfoss, Frigoglass SAIC, Epta S.p.a. Refrigeration, Dover Corporation, Haier Group, Arneg, Illinois Tool Works, Daikin Industries Ltd, Fagor Industrial dominate the global refrigerated display cases market. The players are concentrating their efforts on research and development. They also use strategic growth activities including product launches, expansion, joint ventures, and collaboration to boost their market position and attract a big consumer base.
Prominent players in the global market include Carrier Corporation, Danfoss, Frigoglass SAIC, Epta S.p.a. Refrigeration, Dover Corporation, Haier Group, Arneg, Illinois Tool Works, Daikin Industries Ltd, Fagor Industrial.
Scope of the Report
Global Refrigerated Display Cases Market, by Type
- Plug-In
- Semi Plug-In
- Remote
Global Refrigerated Display Cases Market, by DesignÂ
- Vertical
- Horizontal
- Hybrid
Global Refrigerated Display Cases Market, by Region
-
North America- US
- Canada
- Mexico
-
Europe- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
-
Asia-Pacific- China
- India
- Japan
- Australia and New Zealand
- Rest of Asia-Pacific
-
Rest of the World- South America
- Middle East
- Africa
Objectives of the Study
The objectives of the study are summarized in 5 stages. They are as mentioned below:
- Market Size and Forecast
To identify and estimate the market size for the global refrigerated display cases market segmented by type, design by value (in US dollars). Also, to understand the consumption/ demand created by consumers of refrigerated display cases from 2022 to 2030
- Market Landscape and Trends
To identify and infer, the drivers, restraints, opportunities, and challenges for the global market
- Market Influencing Factors
To find out the factors which are affecting the sales of Refrigerated Display Cases among consumers
- Impact of COVID-19
To identify and understand the various factors involved in the global Refrigerated Display Cases market affected by the pandemic
Company Profiling
To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.
Intended Audience
- Refrigerated Display Cases Producers
- Raw Material Suppliers
- Retailers, Wholesalers, and Distributors
- Governments, Associations, and Industrial Bodies
- Investors and Trade Experts
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