During the forecast period of 2022 to 2032, the refrigerated display cases market is expected to grow at a moderate CAGR of 5.5%. The refrigerated display cases market is expected to reach nearly US$ 14 billion by 2032, up from a total value of US$.2 billion in 2022.
The market for refrigerated display cases (RDC) has been expanding rapidly in recent years. This expansion is expected to continue in the coming years due to rising food retail demand. The rising population and rapid urbanisation in emerging economies will create significant growth opportunities in the coming years.
Refrigerated display cases are commonly found in retail stores and the food and beverage industry, such as general stores/hypermarkets, supermarkets, eateries, hotels, and non-routine outlets. RDCs help to attract customers by providing an appealing visual display of food and beverage products.
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With the sector in recovery mode, the market for refrigerated display cases remains optimistic in the short and long term. The retail food and beverage sector will continue to account for more than 70% of refrigerated display case sales throughout the forecast period, according to the report.
The introduction of high-performance and connected refrigerated display cases with real-time cloud access and maintenance will open up new avenues for profitable growth. In the coming years, the market will also benefit from the introduction of low GWP refrigerants aimed at reducing environmental challenges.
Refrigerated display case market is likely to grow at a moderate pace during 2022-2032. 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.
- Expansion of the supermarkets and hypermarkets will remain a chief growth driver, enabling the market rise at 5.5% CAGR between 2022 and 2032
- 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 2022 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 2022-2032. 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.