The latest market report published by Credence Research, Inc. “Global Merchandising Refrigerators Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028. The global merchandising refrigerators market has witnessed steady growth in recent years and is expected to continue growing at a CAGR of 4.80% between 2023 and 2030. The market was valued at USD 8.1 billion in 2022 and is expected to reach USD 11.2 billion in 2030.
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India Merchandising Refrigerators Market Key Growth Trends have been showing a steady rise in demand over the past few years due to various factors. One of the main reasons for this increase is the growing retail sector, particularly in tier 2 and tier 3 cities. With more supermarkets and hypermarkets opening up across India, there has been a surge in demand for refrigeration units that can cater to large-scale food storage needs. Additionally, technological advancements have led to the development of energy-efficient refrigerators with better cooling systems, which are preferred by businesses looking to reduce their energy consumption costs. The trend towards healthier eating habits has also contributed significantly to the growth of this market as more people opt for fresh produce and perishable goods that require proper refrigeration.
Merchandising Refrigerators Market Growth Factor Worldwide:
- Increasing demand for processed and packaged food: The consumption of ready-to-eat food and beverages has increased globally, which in turn has raised the need for merchandising refrigerators in stores and supermarkets.
- Growth in retail sector: The expansion of supermarkets, hypermarkets, convenience stores, and food and beverage outlets in developing regions is expected to contribute to the growth of the merchandising refrigerators market.
- Technological advancements: Innovations in refrigeration technology, such as smart refrigerators and energy-efficient models, can boost market growth.
- Stringent energy consumption regulations: Government regulations encouraging or requiring energy efficiency could increase the demand for newer, more efficient refrigeration units.
- Urbanization and changing lifestyles: As more people move to cities and have busier schedules, the demand for frozen foods and beverages is increasing, which could contribute to market growth.
- Increase in the hospitality industry: Growth in the hospitality industry, including hotels, restaurants, and cafes, would increase the demand for commercial refrigeration.
- Impact of COVID-19: The pandemic has led to a rise in home cooking and food storage, leading to increased demand for refrigeration. It has also prompted businesses to improve their cold storage to adhere to safety protocols for food storage.
Why to Buy This Report-
- The report provides a qualitative as well as quantitative analysis of the global Merchandising Refrigerators Market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, the base year- 2021, and the projection period 2022-2028.
- The report includes information on the competitive landscape, such as how the market’s top competitors operate at the global, regional, and country levels.
- In-depth analysis of the global market segmentation on the Route of Administration and Application
- Major nations in each region with their import/export statistics
- The global Merchandising Refrigerators Market report also includes the analysis of the market at a global, regional, and country-level along with key market trends, major players analysis, market growth strategies, and key application areas.
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