Demand for Commercial Refrigeration Systems Growing in Food and Beverage Sector

Posted by Devanshu Shrivastava on March 17th, 2021

The food and beverage sector is growing around the world on account of the rapid economic prosperity. This growth is being reflected not only in the rising demand for processed food but also in the surging number of people who are eating out, that much more frequently than before. Therefore, with the expansion of the food service, production, and retail subsectors of the overall industry, the number of food processing plants, hypermarkets/supermarkets, and restaurants and other kinds of dining venues is rising.

P&S Intelligence says that this will be the key factor driving the market of commercial refrigeration equipment from .6 billion in 2019 to .9 billion in 2030, at a CAGR of 3.0% between 2020 and 2030 (forecast period). This is because fresh and processed food is perishable after a while, regardless of the preservatives in it. And since not every product is consumed just as it comes out of the factory, it needs to be refrigerated. Therefore, food processing plants and food and beverage retail units widely deploy refrigerators.

Similarly, in restaurant kitchens, dairy, meats, and vegetables and fruits are kept in cold storage till they have to be used. With the increasing competition in the food service sector, several restaurants use the freshness of the ingredients as a key marketing tool. In addition, with time, the government regulations regarding food safety and hygiene have strengthened, which has further impelled businesses in the food service sector to ensure that the food hasn’t gone bad, by storing it in carefully controlled temperatures.

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This market research report provides a comprehensive overview of the market

• Future potential of the market through its forecast for the period 2020– 2030
• Major factors driving the market and their impact during the short, medium, and long terms
• Market restraints and their impact during the short, medium, and long terms
• Recent trends and evolving opportunities for the market participants
• Historical and the present size of the market segments and understand their comparative future potential
• Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings