How Has the Chest Freezers Market Evolved Historically and What is its Current Size?
The chest freezers market has seen considerable growth due to a variety of factors.
• In the past few years, the chest freezer market has expanded significantly. The sector is anticipated to swell from $18.36 billion in 2024 to $20.76 billion in 2025, with a compound annual growth rate (CAGR) of 13.1%.
Historical growth can be linked to growing demand within developing economies, the expansion of small and medium enterprises, the propensity of consumers towards bulk buying, an increased emphasis on minimizing food waste, and the rise of e-commerce.
What Is The Projected Growth Of The Chest Freezers Template Market?
The chest freezers market is expected to maintain its strong growth trajectory in upcoming years.
• The market for chest freezers is predicted to experience a swift escalation in the upcoming years, expanding to $33.45 billion by 2029 with a compound annual growth rate (CAGR) of 12.7%.
This projected growth within the period is largely due to factors such as the escalating demand for frozen food, rising disposable incomes, enhanced cold storage infrastructure, increased urbanization and city migration, and growth in the retail sector. Key trends for the forecast period include the demand for energy-efficient and environmentally-friendly models, a shift towards energy-efficient appliances, investments in retail chains, product diversification and customization, and improved post-sale services.
What Are The Key Drivers Fueling Growth In The Chest Freezers Market?
The burgeoning demand for frozen food items is set to boost the expansion of the chest freezer market. Frozen food products are those that are preserved by freezing for the purpose of maintaining freshness, enhancing nutritional value, and prolonging shelf life for later consumption. The popularity of these products is driven by their convenience, extended shelf life, and the growing preference among consumers for ready-to-eat meals in the face of hectic lifestyles. Chest freezers are necessary for the storage of frozen foods, as they offer optimal long-term storage solutions at consistent low temperatures, which assist in preserving the quality, safety, and extended shelf life of these products. For example, the American Frozen Food Institute, a trade association based in the U.S., published a report in January 2023 revealing that in the U.S., frozen food sales soared to $72.2 billion in 2022, marking an 8.6% surge in value in comparison to 2021. Consequently, the escalating demand for frozen food products is fuelling the growth of the chest freezer market.
What Are The Principal Market Segments In The Global Chest Freezers Industry?
The chest freezersmarket covered in this report is segmented –
1) By Type: 500 And Above Liters, 300 To 500 Liters, 200 To 300 Liters, 200 And Below Liters
2) By Distribution Channel: Online, Offline
3) By Energy Efficiency: High, Medium, Low
4) By Door Type: Solid Door, Glass Door
5) By Application: Retail, Hospitality, Food And Beverage Processing, Cold Storage And Warehouses, Healthcare, Research And Laboratories, Residential, Other Applications
Subsegments:
1) By 500 and Above Liters: Commercial Chest Freezers, Industrial Chest Freezers
2) By 300 to 500 Liters: Medium-Sized Chest Freezers, Large Household Chest Freezers
3) By 200 to 300 Liters: Standard Household Chest Freezers, Mid-Sized Commercial Chest Freezers
4) By 200 and Below Liters: Compact Chest Freezers, Small Household Chest Freezers, Portable Chest Freezers
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What Trends Are Shaping The Chest Freezers Market?
In the chest freezer market, major companies are working to innovate and launch ground-breaking products, such as futuristic cold storage solutions, which provide the capability to alter between freezer and refrigerator settings. The evolution of cold storage looks promising, fostered by technological advancements, an emphasis on sustainability, and a thriving market powered by the rising demand for frozen commodities. For example, in November 2023, EF Education First (EF), a corporation specializing in home appliances situated in Switzerland, introduced its Chest Freezers. These specially designed appliances are equipped with revolutionary cooling technology for quick and uniform freezing, consequently extending the freshness and nutritional value of stored food. EF Chest Freezers, with their ample storage room, provide sufficient space for orderly storage of everything, from frozen produce to bulk purchases and homemade dishes. The easy-to-use controls allow fine-tuning of temperatures for ideal storage, thereby retaining food quality and bolstering energy efficiency.
Who Are the Key Players In The Chest Freezers Market?
Major companies operating in the chest freezers market are:
• LG Electronics
• Midea America Corp.
• Whirlpool Corp.
• Sharp Corporation
• Liebherr-International GmbH
• Electrolux Group
• Westinghouse Electric Corp.
• The Middleby Corp.
• Dometic Group AB
• Gorenje
• Fisher & Paykel Appliances Ltd.
• Beko Plc
• Danby
• Rockwell Industries Ltd.
• Hisense Inc.
• U-Line Corp.
• Everest Refrigeration
• Frigidaire
• Elan Professional Appliances Pvt Ltd.
• Haier
• Turbo Air Inc.
• Smeg Ltd.
• Avanti Products LLC
• Kenmore Ltd.
• Western Refrigeration Pvt Ltd.
What Are The Regional Insights Into The Chest Freezers Market?
North America was the largest region in the chest freezers market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the chest freezers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
