Pune, India, March 07, 2022 (GLOBE NEWSWIRE) -- The ice merchandiser market size was USD 208.6 million in 2020. The market is projected to grow from USD 213.5 million in 2021 to USD 261.6 million in 2028 at a CAGR of 2.9% during the 2021-2028 period. This vital information is presented by Fortune Business Insights™, in its report, titled, “Ice Merchandiser Market, 2021-2028.” Factors such as the ability to display food and drinks aesthetically and the rising availability of various door styles for convenience will increase the footprint of the market during the forecast period. Additionally, the inclusion of digital displays and digital temperature control systems will boost market growth.
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Global Players in Ice Merchandiser Market:
- Leer Inc. (Wisconsin, U.S.)
- Polar Temp (Georgia, U.S.)
- Iowa Rotocast Plastics, Inc. (Iowa. U.S.)
- FOGEL USA (Pennsylvania, U.S.)
- Master-Bilt (Florida, U.S.)
- Turbo Air (California, U.S.)
- Beverage Air (North Carolina, U.S.)
- Hoshizaki America, Inc. (Georgia, U.S)
- Thermal Manufacturing, Inc. (Tennessee, U.S.)
- Omcan Inc. (Ontario, Canada)
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 2.9% |
| 2028 Value Projection | USD 261.6 Million |
| Base Year | 2020 |
| Ice Merchandiser Market Size in 2020 | USD 208.6 Million |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 120 |
| Segments covered | Product Type, End User and Geography |
| Ice Merchandiser Market Growth Drivers | Vaccine Storing Needs & Improving Economic Growth to Augment Market Volume |
| Increasing Demand for Reverse Fan Self-Cleaning Condensing Units to Augment Market Volume | |
| North America to Hold Dominance due to a Well-Established Retail Presence | |
| Technological Advancements & Novel Product Launched to Bolster Market Growth |
COVID-19 Impact
Vaccine Storing Needs & Improving Economic Growth to Augment Market Volume
The ongoing pandemic affected the market in a negative manner during the initial stage. Factors such as disrupted supply networks and affected consumer demand due to constant lockdowns decreased the market value. Additionally, decreased metal output due to manpower constraints and a faltering transport system will limit the growth of the market during the forecast period. However, rapidly rising storage requirements in terms of vaccine storage and handling will lead to reviving market conditions.
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Segments
Product Type, End User, and Region Are Studied
On the basis of product type, the market is divided into indoor ice merchandisers and outdoor ice merchandisers.
By end user, the market is broken down into food industry, grocery industry, and catering industry.
In terms of geography, the market is categorized into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
Report Coverage
The report provides a detailed review by presenting the type and end-user of the product comprehensively. Additionally, the report contains information about leading companies and their business overviews and leading applications of their portfolio. A SWOT analysis of the competitive landscape and current market trends are presented in the report. The report further encompasses factors that are expected to impact the market in a positive/negative manner.
Drivers & Restraints
Increasing Demand for Reverse Fan Self-Cleaning Condensing Units to Augment Market Volume
Factors such as increasing consumer demand for frozen & chilled foods and expanding retail sector will boost the ice merchandiser market growth during the forecast period. Additionally, the rising number of grocery stores & supermarkets and increasing demand for reverse fan self-cleaning condensing units will increase the footprint of the market. Also, the ability to self-clean by keeping away dust and debris will fuel the growth of the market.
However, increasing maintenance costs will limit the growth of the market during the forecast period. Also, a complex installation process will decrease the market value.
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Regional Insights
North America to Hold Dominance due to a Well-Established Retail Presence
Factors such as the presence of a well-established retail business and rapidly increasing economic development will increase the ice merchandiser market share during the forecast period. Rising population growth and large commercial refrigeration equipment manufacturers will fuel the growth of the market. Expanding hypermarkets & supermarkets and rising urbanization will boost the market volume.
Asia Pacific will witness considerable market share in terms of global contribution due to stable employment rates and improving economic circumstances. Additionally, rising disposable income and rising spending on leisure activities will push the market boundary toward a larger horizon. Increasing acceptance of frozen food and confections will fuel the growth of the market during the forecast period.
Competitive Landscape
Technological Advancements & Novel Product Launched to Bolster Market Growth
The ice merchandiser industry is hugely concentrated with the dominant players holding a considerable market share. They often employ tactics such as mergers & acquisitions and collaboration to stay competitive and offer better products for their consumers. For example, in October 2020, Leer Inc. released its new line-up of walk-in coolers. These custom-engineered freezers will be the latest addition to Leer's portfolio of refrigerated grocery solutions. Other players are focused on rebranding their current product portfolio to bring novelty to their existing products.
Industry Development
- June 2021: Hoshizaki America, Inc. released its new Square Cube Undercounter Ice Machine for its Hoshizaki Specialty Ice portfolio. This latest addition will increase the organization’s presence toward cocktail preparation and equipment efficiency.
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Major Table of Contents:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19 on Ice Merchandiser Market
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Forces Analysis
- Global Ice Merchandiser Market Share Analysis, 2020
- Key Market Insights and Strategic Recommendations
- Profiles of Key Players (Would be provided for 10 players only)
- 6.1. Overview
-
- Key Management
- Headquarters etc.
- Offerings/Business Segments
-
-
- Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
- Employee Size
- Key Financials
- Past and Current Revenue
- Geographical Share
- Business Segment Share
- Recent Developments
- Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
- Primary Interview Responses
- Annexure / Appendix
- Global Ice Merchandiser Market Analysis, Insights and Forecast (Quantitative Data), By Segments, 2017-2028
- By Product Type (USD Mn)
- Outdoor Ice Merchandisers
- Indoor Ice Merchandisers
- By End-User (USD Mn)
- Food Industry
- Grocery Industry
- Catering Industry
- By Region (USD Mn)
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America
- By Product Type (USD Mn)
- North America Ice Merchandiser Market Analysis, Insights and Forecast (Quantitative Data), By Segments, 2017-2028
- By Product Type (USD Mn)
- Outdoor Ice Merchandisers
- Indoor Ice Merchandisers
- By End-User (USD Mn)
- Food Industry
- Grocery Industry
- Catering Industry
- By Country (USD Mn)
- U.S.
- By End-User
- Food Industry
- Grocery Industry
- Catering Industry
- By End-User
- Canada
- By End-User
- Food Industry
- Grocery Industry
- Catering Industry
- By End-User
- U.S.
- By Product Type (USD Mn)
- Europe Ice Merchandiser Market Analysis, Insights and Forecast (Quantitative Data), By Segments, 2017-2028
- By Product Type (USD Mn)
- Outdoor Ice Merchandisers
- Indoor Ice Merchandisers
- By End-User (USD Mn)
- Food Industry
- Grocery Industry
- Catering Industry
- By Country (USD Mn)
- U.K.
- By End-User
- Food Industry
- Grocery Industry
- Catering Industry
- By End-User
- Germany
- By End-User
- Food Industry
- Grocery Industry
- Catering Industry
- By End-User
- France
- By End-User
- Food Industry
- Grocery Industry
- Catering Industry
- By End-User
- Italy
- By End-User
- Food Industry
- Grocery Industry
- Catering Industry
- By End-User
- Rest of the Europe
- U.K.
- By Product Type (USD Mn)
- Global Ice Merchandiser Market Analysis, Insights and Forecast (Quantitative Data), By Segments, 2017-2028
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