What Fueled The Previous Growth In The Refrigerated Display Cabinets Market?
The refrigerated display cabinets market has seen considerable growth due to a variety of factors.
• The refrigerated display cabinets market has experienced strong growth recently. It will rise from $8.12 billion in 2024 to $8.62 billion in 2025, at a compound annual growth rate (CAGR) of 6.2%.
This growth is attributed to food safety regulations, the retail sector’s expansion, a growing foodservice industry, increased health and wellness awareness, the rise of online grocery shopping, and higher demand for fresh produce.
What Can Be Expected from the Refrigerated Display Cabinets Market Size?
The refrigerated display cabinets market is expected to maintain its strong growth trajectory in upcoming years.
• The refrigerated display cabinets market is expected to grow to $10.86 billion by 2029 at a CAGR of 6.0%.
The growth is fueled by the increasing demand for ready-to-eat foods, emphasis on sustainability, rising consumer preference for fresh goods, and demand for customizable display solutions. Key trends include energy-efficient technologies, IoT integration, eco-friendly refrigerants, and advancements in display technology.
What Are the Critical Driver Fuelling The Refrigerated Display Cabinets Market's Growth?
The projected growth of the refrigerated display cabinet market is largely due to the flourishing food service industry. This sector, which comprises establishments delivering, preparing, and serving food and beverages, like food trucks, restaurants, cafes, and catering services, is on the rise due to the burgeoning popularity of food delivery services, evolving consumer tastes, increasing urbanization and convenient dining options. Refrigerated display cabinets in these establishments are invaluable for preserving perishable food items, enhancing product aesthetic, and maximizing storage. For example, a report from the United States Department of Agriculture, a federal agency based in the U.S., stated in July 2023 that the food service and retail sectors accounted for approximately $2.11 trillion in food in 2021 and increased to about $2.39 trillion in 2022 — a $0.28 trillion hike. Additionally, the food service firms contributed around $1.16 trillion in 2021 and approximately $1.34 trillion in 2022. Consequently, the recent boom in the food service sector is greatly contributing to the growth of the refrigerated display cabinet market. The rising demand for frozen food and drinks is also projected to foster the growth of the refrigerated display cabinet market. These products, preserved by freezing to prolong their freshness, taste, and nutritional value, are favored due to their lengthy shelf life, the growing trend of hectic lifestyles, and convenience. These cabinets maintain a consistently low temperature to prevent thawing of frozen food and drinks, thereby helping to extend their longevity and uphold their quality. As an illustration, according to the American Frozen Food Institute, a non-profit organization based in the U.S., frozen food revenues witnessed a surge of 8.6%, amassing a total of $72.2 billion in 2022 compared to the previous year. Thus, increasing demand for frozen food and drinks is propelling the growth of the refrigerated display cabinet market.
How Is The Refrigerated Display Cabinets Market segmented?
The refrigerated display cabinets market covered in this report is segmented –
1) By Type: Frozen Type, Chilled Type
2) By Application: Beverages, Food, Medicine, Other Applications
3) By End-Users: Supermarkets, Convenience Stores
Subsegments:
1) By Frozen Type: Vertical Freezer Cabinets, Horizontal Freezer Cabinets, Chest Freezers, Multi-Deck Freezer Cabinets, Upright Freezer Cabinets
2) By Chilled Type: Vertical Chilled Cabinets, Horizontal Chilled Cabinets, Open Chilled Display Cases, Multi-Deck Chilled Cabinets, Sliding Door Chilled Cabinets
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How Are Emerging Trends Reshaping The Dynamics Of The Refrigerated Display Cabinets Market?
Leading businesses in the refrigerated display cabinet market are innovating with environmental-friendly technologies like propane-based cabinets in order to improve temperature management and decrease energy use. These propane-based cabinets use propane (R290) as a coolant, offering a more sustainable substitute to standard refrigerants. For example, AHT, an Austrian company specialising in heating and refrigeration technology, unveiled a new series of propane-based refrigerated cabinets named KALEA in October 2023. This product line represents substantial advancements in both efficiency and ecological sustainability for retailers. The KALEA units, designed for both medium and low-temperature uses, come in both plug-in and semi-plug-in versions to fit various store requirements. These semi-plug-in units can easily integrate with glycol-water systems, recycling waste heat generated by the refrigeration for central heating or hot water provision. This not only reduces energy consumption and costs, but they're also easily attachable to water loop systems via multiplex connections, ensuring a streamlined and efficient implementation.
Who Are the Key Players In The Refrigerated Display Cabinets Market?
Major companies operating in the refrigerated display cabinets market are:
• Panasonic Corporation
• Haier Group Corporation
• Carrier Corporation
• Liebherr-International Deutschland GmbH
• Hussmann Corporation
• Hoshizaki Corporation
• Epta SpA
• Aucma Company Limited
• Hillphoenix Inc.
• Qingdao Hiron Commercial Cold Chain Co. Ltd.
• Frigoglass S.A.I.C.
• Metalfrio Solutions S.A.
• True Manufacturing Co. Inc.
• AHT Cooling Systems GmbH
• ISA S.p.A.
• Ugur Cooling
• Ahmet Yar
• Costan S.p.A.
• Zero Zone Inc.
• Vestforst A/S
• Arneg S.p.A.
• Turbo Air Inc.
• Orford Refrigeration Pty Ltd
• Verco Limited
• Afinox S.p.A.
• Zhejiang Xingxing Refrigeration Co. Ltd.
What Is The Most Dominant Region In The Refrigerated Display Cabinets Market?
Asia-Pacific was the largest region in the refrigerated market in 2024 and is expected to be the fastest-growing region in the forecast period. The regions covered in the refrigerated display cabinets market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
