Refrigerated Display Cabinets
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How Large Will the Refrigerated Display Cabinets Market Size By 2025?
The market size of refrigerated display cabinets has recorded significant growth in the past few years. The market, which was valued at $8.12 billion in 2024, is projected to rise to $8.62 billion in 2025, representing a compound annual growth rate (CAGR) of 6.2%. The historical growth trend of this market is a result of strict regulations concerning food safety, expansion in the retail sector, evolution of foodservice industry, heightened consumer consciousness about health and well-being, boom in online grocery trade, and the risen demand for fresh products.
How Big Is the Refrigerated Display Cabinets Market Size Expected to Grow by 2029?
The market for refrigerated display cabinets is expected to significantly increase in size over the coming years, with projections indicating it will reach $10.86 billion by 2029, a 6.0% compound annual growth rate (CAGR). This growth is driven by factors such as an increasing demand for ready-to-eat meals, a focus on sustainability, and a desire for aesthetically-pleasing, customizable display solutions. Other factors include consumer predilection for fresh products, higher disposable income in developing economies, increased requirement for specialized refrigerated display cabinets, and increase in requirements for modular and customizable refrigerated cabinets. Investment in cold chain infrastructure is also increasing. Noteworthy trends expected to shape this market’s future include energy saving technologies, transparent and interactive displays, the use of eco-friendly refrigerants, creation of modular components, hybrid refrigerated systems, mobile app integration, and advancements in display technology like organic light-emitting diode (OLED) and curved screens.
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Which Key Market Drivers Powering Refrigerated Display Cabinets Market Expansion and Growth?
The refrigerated display cabinet market is set to experience a boost as a result of the rapid growth of the food service industry. This sector encompasses businesses that not only prepare but also serve and distribute food and beverages. This includes venues like restaurants, cafes, food trucks, and catering establishments. As consumer demands shift towards convenient dining options, urbanization increases and food delivery services gain popularity, the food service industry is seeing a surge in expansion. This, coupled with the attractive displays and storage optimization offered by refrigerated display cabinets, will fuel the market growth. The United States Department of Agriculture reported in July 2023 that the food service and retail sectors provided around $2.11 trillion in food in 2021 and $2.39 trillion in 2022, reflecting a growth of $0.28 trillion. Further on, food service establishments served up to $1.16 trillion worth of food in 2021 and this increased to $1.34 trillion in 2022. Hence, it is evident that the expanding food service industry is a significant driver for the refrigerated display cabinet market. The rising demand for frozen food and drinks is yet another factor propelling the refrigerated display cabinet market forward. Frozen foods and drinks are products that have been frozen to prolong their shelf life while preserving flavor and nutritional value. Factors such as convenience, longevity, and increasing busy lifestyles are contributing to their demand. Refrigerated display cabinets ensure these items remain at a consistently low temperature, helping to prevent them from thawing and maintaining their quality. As reported by the American Frozen Food Institute in January 2023, frozen food sales saw an increase of 8.6%, amassing $72.2 billion in 2022, a significant rise from the previous year’s sales figures. Thus, the growing demand for frozen food and drinks is effectively steering the growth of the refrigerated display cabinet market.
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Which Fast-Growing Trends Are Poised to Disrupt the Refrigerated Display Cabinets Market?
In the refrigerated display cabinets market, top firms are now developing environmentally friendly technologies such as cabinets using propane to improve temperature regulation and minimize energy use. Propane-based refrigerated cabinets use propane (R290) as the refrigerant, which serves as a more eco-friendly substitute for conventional refrigerants. Take for example, in October 2023, the Austria-based heating and refrigeration technology manufacturer AHT launched a fresh line of propane-based refrigerated cabinets, named KALEA. This novel line represents a major advancement in terms of efficiency and sustainability for shop owners. The KALEA models are designed to accommodate both medium and low-temperature requirements and they are offered in plug-in or semi plug-in models to fit different shop requirements. They can smoothly integrate with glycol-water systems in the semi-plug-in models, using waste heat from refrigeration for space heating or hot water creation. Such a unique feature hampers energy usage and reduces costs, as these models can easily be linked to water loop systems through multiplex connections, guaranteeing effortless and efficient integration.
What Are the Emerging Segments in the Refrigerated Display Cabinets Market?
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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Who Are the Global Leaders 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.
Which are the Top Profitable Regional Markets for the Refrigerated Display Cabinets Industry?
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.
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