Refrigerated Counter Market ? Increasing Demand In The Developing Countries Boos

Posted by RASHMI on March 26th, 2019

Transparency Market Research, in one of its recent report, states that 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.

Refrigerated counters are commercial refrigerators which are designed especially for kitchen/cooking area of hotels, restaurants and catering services. These counters come with a wide range of temperature control options (typically from -15 to +10 degrees). The refrigerated counters are expected to witness strong demand globally majorly due to growing professional restaurants and food chains. Majority of the refrigerated counter market is concentrated in North America and Europe due to large number of hotels and catering service providers in these regions.

System catering emerged as the leading end-use segment of the global refrigerated counters market and is estimated to account for a massive 80.9% share by the end of 2016. However, the segment is expected to lose a marginal share in the market by 2024 owing to the rising demand for luxury hotels across Europe and Asia Pacific. The hotels segment, as a result, will exhibit a 9.3% CAGR in terms of revenue from 2016 to 2024.

Within the system catering segment, quick service restaurants (QSR) are expected to contribute the highest revenue to the overall refrigerated counters market. The QSR market is expected to grow significantly in the coming years owing to the growing fast-food culture in developing countries and the rising disposable incomes of the consumers.

PDF Brochure For Future Advancements @  https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=15161