Refrigerated Counter Market - Hospitality Sector to Help Market Tread

Posted by RASHMI on March 4th, 2019

The global refrigerated counter market will clock in a promising 8.4% CAGR over the period between 2016 and 2024 in terms of volume. The market is expected to register a 7.7% CAGR over the said period and rise from a valuation of US.5 bn in 2015 to US.7 bn by 2024.

One of the key factors expected to boost the global sales of refrigerated counters includes the tightening grip of regulatory bodies on the food production, processing, and transportation industries. So as to bring down the prevalence of food-borne diseases, food safety organizations in several countries have introduced stringent norms for food preparation and storage, which also includes the use of refrigerated counters to keep food at low temperatures thus mitigating the possibility of production of microbes in the food products.

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The market is also likely to massively benefit from the rapid expansion of several international food chains across the globe. As most food chains require a variety of refrigerates equipment to keep food products sourced in bulk safe for consumption for longer durations, the rising numbers of food chains will prove to be a key driver for the market in the next few years. However, the high base cost and total cost of operation of high-end refrigerated counters could act as a restraint for the market, reining in its growth prospects to a certain extent.