Ice Cream Cabinets Market Emerging Economies Expected to Influence Growth until
Posted by Arslan on August 9th, 2019
The global ice cream market was valued at around ~US$ 55 billion in 2016 and is projected to grow at a CAGR of 4.1%, to be around ~US$ 75 Billion by 2024. With the increasing demand for ice cream, the market for Ice Cream Cabinets has huge opportunities to serve in the near future. A large proportion of ice cream is sold at small outlets worldwide where ice cream is displayed and stored in Ice Cream Cabinets Market. Ice Cream Cabinets use a small hermetically sealed compressor with temperature range from -18oC to -23oC.
Ice Cream Cabinets Market Dynamics
The Ice Cream Cabinets market is expected to grow at a good rate in the coming years. Increased demand of up gradation or replacement of Ice Cream Cabinets is expected to be a key growth driver for the Ice Cream Cabinets market. Many new forms of ice cream have been innovated in the recent years, such as ice creams made by using nitrogen gas, which need to be stored at very low stable temperatures that can be provided by using Ice Cream Cabinets. These points are expected to act as the growth driver for Ice Cream Cabinets market in the near future. Many other food items that need very low temperatures for storage, such as frozen yogurt and frozen food items are also stored in Ice Cream Cabinets, which is further expected to act as a demand driver for the Ice Cream Cabinets market. There has been an increase in the number of organized ice cream parlors around the world, which is also one of the growth drivers for the Ice Cream Cabinets. The failure of compressors used in Ice Cream Cabinets can render the product useless and spoil the contents inside the cabinet. This is expected to act as a growth restraint for the Ice Cream Cabinets market. Solar assisted Ice Cream Cabinets has been gaining traction in the market.
Market Segmentation of Ice Cream Cabinets Market:
Ice Cream Cabinets can be segmented on the basis of storage capacity, sneeze guard, utility and type. Ice Cream Cabinets can be segmented on the basis of volume storage capacity in cu. ft. from 2-7 cu. Ft, 8-13 cu. Ft, 14-20 cu. Ft, and 22-30 cu. Ft. On the basis of storage capacity Ice cream cabinets market can be segmented as 3-10 Cans, 12-20 Cans, 21-39 Cans and above. On the basis of sneeze guard Ice cream cabinets market can be segmented as curved sneeze guard, flat sneeze guard and no sneeze guard. On the basis of utility provided by the Ice Cream Cabinets, Ice cream cabinets can be segmented into, dipping cabinet, storage cabinet and merchandizing dipping cabinet
Regional Outlook for Ice Cream Cabinets Market
North America is expected to drive the demand for the Ice Cream Cabinets market because of the extent of innovation in the ice cream industry and growth of the ice cream markets in the region. Europe and Latin America are also expected to follow the same demand pattern for Ice Cream Cabinets as North America. The growing demand for ice cream parlors and increase in the number of replacement and up gradation of current Ice Cream Cabinets is expected to drive the demand for Ice Cream Cabinets market during the forecast period in APEJ. Rising popularity of ice cream parlors and increasing consumption of ice cream on a regular basis has resulted in the necessity to increase the storage of the dessert, which is expected to aid in the surge in the Middle East and Africa region. Japan is also expected to support the growth of Ice Cream Cabinets market exponentially in the near future.
Market Players in Ice Cream Cabinets Market
The major market players in the ice cream cabinets market include Unilever, Standex International Corporation, Western commercial refrigeration, Avantco, and Master Bilt etc.
The trends in the ice cream market are evolving day-by-day, and the Ice Cream Cabinets are expected to act as a platform for the growth in the near future. These factors are expected to drive the growth of the global ice cream cabinets market in the forecast period.
Compilation of authentic and first-hand intelligence, insights offered in the report are based on quantitative and qualitative assessment by leading industry experts, and inputs from opinion leaders & industry participants around the value chain. Growth determinants, macroeconomic indicators, and parent market trends have been scrutinized and delivered, coupled with the market attractiveness for each market segment encompassed. Qualitative impact of growth influencers on the market segments across regions has also been mapped by the report.
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About the AuthorArslan
Joined: December 18th, 2017
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