Merchandising Refrigerators Market By Product Type (Open Display Merchandisers, Glass Door Merchandisers, Bakery Cases, Freezer Merchandisers, Specialty Glass Door Merchandisers) By Refrigerants Used: (Fluorocarbons, Hydrocarbons, Others)-Growth, Future Prospects & Competitive Analysis, 2016 – 2030

Key Highlights of the Report

The global merchandising refrigerators market is segmented by product type, refrigerants used, application, and region. Glass door merchandisers category is the most popular. At the same time, fluorocarbons are the primary refrigerants used segment. The commercial category is the most common application, with North America leading the market growth.

The increasing demand for frozen and refrigerated food products is one of the main reasons anticipated to boost market expansion. Consumers are increasingly choosing quick-to-prepare, nutritious foods that don’t require refrigeration or freezing due to the growing population, shifting dietary preferences, and busy lifestyles. Because they are necessary for keeping and exhibiting these products, merchandizing refrigerator demand is anticipated to increase.

Nonetheless, the North American market for merchandising refrigerators is predicted to grow at the greatest CAGR. The expansion of the local market is due to the rise in demand for convenience. Convenience foods and beverages are more popular now than ever, thanks to consumers’ hectic lifestyles.

Market Overview

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.

What Are The Main Drivers Of The Global Merchandizing Refrigerators Market?

One key element anticipated to fuel the market’s growth is the growing use of merchandising refrigerators in the retail industry. Supermarkets, convenience stores, and other retail establishments frequently employ merchandising refrigerators to display and store various food and beverage products.

What Are The Major Challenges Faced By The Global Merchandizing Refrigerators Market?

The high initial cost of merchandise refrigerators restricts the market’s ability to grow. For small and medium-sized businesses, purchasing and installing merchandising refrigerators can be pricey. These businesses can need more funds to purchase expensive refrigeration equipment, which can keep them out of the market.

What Are The Growth Opportunities In The Global Merchandizing Refrigerators Market?

Developing more energy-efficient, environmentally friendly, and user-friendly goods is a growing concern for producers of marketing refrigerators. The merchandising refrigerators market is anticipated to increase, opening up new potential for market participants.

Executive Summary

Overview of the Global Merchandizing Refrigerators Market

The need for merchandising refrigerators is anticipated to be driven by the expanding number of retail locations and the escalating competition among merchants to offer customers a better shopping experience. Additionally, the market for merchandising refrigerators is anticipated to rise as a result of the expanding trend of online grocery shopping. Furthermore, the market is anticipated to rise due to rising investments in creating cutting-edge, technologically inventive merchandising refrigerators.

Market Definition

Refrigerators that combine most of the elements needed for the vapor-compression cycle and the refrigerated compartment into a single cabinet are known as merchandising refrigerators. They are intended for use by commercial or institutional facilities to store or merchandise food products, beverages, or ice at specific temperatures. The merchandising refrigerator systems are made to open and close frequently during the day. Whatever number of times this occurs, it doesn’t matter. It will be possible to keep the temperature steady with the refrigeration system. Its distinctive components make sure that it satisfies the owner’s requirements.

Market Insights

• The global demand for merchandising refrigerators was valued at USD 8.1 Billion in 2022 and is expected to reach USD 11.2 Billion in 2030, growing at a CAGR of 4.80% between 2023 and 2030.
• Glass door merchandisers are the market leader in value and held over 43% of the market in 2022. Still, throughout the projection period, the specialized glass door merchandisers category is anticipated to grow fastest.
• The fluorocarbons category will continue to rule the market for merchandising refrigerators globally, with estimates of high CAGR growth and a huge market share of over 45% in 2022.
• In contrast to the residential sector, which is anticipated to account for over 35% of the market in 2022, commercial is anticipated to expand at the highest CAGR over the forecast period.
• North America will make up almost one-third of the market for merchandising refrigerators in 2022, while Asia Pacific and Europe will both makeup slightly less than three-fifths of that market. A 49% share was held by North America in 2022.
• The main drivers anticipated to fuel the growth of the merchandizing refrigerators market in the near future are rising demand for convenience foods and growing IoT and AI use in refrigeration systems.
• The developed U.S. retail market is largely responsible for the considerable rise. Numerous top refrigerator manufacturers with a strong presence in the area are merchant refrigerator manufacturers. Additionally, the early use of smart equipment in commercial kitchens is helping the local economy grow.

Segmentation by Product Type

• In 2022, glass door merchandisers held the top spot by product type, with over 43% of the merchandizing refrigerators market.
• Throughout the forecast period, it is predicted that the specialty glass door merchandisers segment’s CAGR will be the fastest.

Segmentation by Refrigerants Used

• With a huge market share of over 45% in 2022 and forecast to have high CAGR growth, the fluorocarbons category will continue to dominate the global merchandising refrigerators market.
• The rest of the portion of the demand for merchandising refrigerators comes from the hydrocarbons category.

Segmentation by Application

• Over the projection period, the category for commercial is anticipated to register the highest CAGR.
• With a market share of over 40% in 2022, the residential segment is currently in the lead.

Segmentation by Region

• A 49% share was held by North America in 2022.
• In 2022 Europe will occupy more than 25% of the market, with Asia Pacific accounting for just under 29% of the total.
• The rest of the world’s demand for merchandising refrigerators comes from Latin America, the Middle East, and Africa.

The need for merchandising refrigerators is anticipated to be driven by the expanding number of retail locations and the escalating competition among merchants to offer customers a better shopping experience. Additionally, the market for merchandising refrigerators is anticipated to rise as a result of the expanding trend of online grocery shopping.

The market for refrigerator merchandise is anticipated to expand at the highest CAGR in North America. Convenience is increasing in demand, which has caused the local market to grow. Due to customers’ busy lifestyles, convenience foods and beverages are more popular than ever. These products can be conveniently displayed and stored in merchandising refrigerators, making them readily available to customers for merchants and food service providers. In North America, customers are increasingly looking for fresh and organic produce as part of a movement towards better dietary options. These goods are displayed by merchandisers, which offers a visually appealing manner to highlight the food’s freshness.

The market for merchandising refrigerators in Asia Pacific is anticipated to grow at the highest CAGR. Increased urbanization and population increase are two reasons that have contributed to the regional market’s expansion: There is an increasing demand for refrigerated goods and a need for more efficient and effective refrigeration systems as the region’s population and urbanization develop. The Asia Pacific retail market is growing quickly, with more retail outlets opening each year.

Overall, over the projected period, market growth is anticipated to be driven by the swift expansion of the hotel and tourism industries and consumers’ growing desire for takeaway meals. Furthermore, retailers are spending more money on refrigeration solutions that can guarantee the secure and timely delivery of perishable goods as more and more customers choose to do their grocery shopping online. Because they are necessary for storing and shipping these goods, merchandise refrigerator demand is anticipated to increase.

The market for merchandising refrigerators is constrained in its expansion by the high initial cost. Merchandizing refrigerators can be expensive to buy and install, especially for small and medium-sized enterprises. These companies might not have the money to buy pricey refrigeration equipment, which can prevent them from entering the market.

Rising Demand For Customized Refrigerators

The retail and food service industries are increasingly demanding specialized refrigeration solutions. Custom refrigerators, first and foremost, enable businesses to maximize their storage and floor space. Depending on the kinds of goods they sell or serve, the space available in their facilities, and their branding and marketing initiatives, retailers and food service providers may have particular needs for their refrigeration systems. Customized refrigerators can fit these requirements, letting businesses increase their storage space while ensuring their products are kept at the ideal temperature and humidity levels. Customized refrigerators allow businesses to improve their branding and marketing efforts in addition to space optimization. Several manufacturers now provide specialized branding choices for refrigeration systems, including logo positioning, unique visuals, and color schemes. These alternatives can aid companies in developing a unified brand identity across their whole product line, enhancing brand awareness and client loyalty.

In order to preserve their quality and efficacy, several products, including vaccinations, medicines, and some foods, need to be kept at exact temperatures. To satisfy these needs, customized refrigeration units can be made with specialized cooling technologies, including thermoelectric or passive cooling systems. These customized refrigerator solutions may also feature unusual shelving designs like tilted, sliding, or adjustable shelves. Businesses can increase product exposure and optimize storage capacity using these capabilities, which may result in higher income and sales. The market prospects should improve due to all these elements in the near future.

High Cost Of Merchandizing Refrigerators 

The expensive beginning cost significantly constrains the merchandising refrigerators market’s growth. For small and medium-sized enterprises, in particular, purchasing and installing merchandise refrigerators can be expensive. These businesses might not have the money to buy pricey refrigeration equipment, which can prevent them from entering the market. Furthermore, the price of marketing refrigerators varies according to the appliance’s dimensions, style, and features. For instance, larger refrigerators with cutting-edge features like LED lighting, touchscreen screens, and intelligent temperature management systems typically cost more than simple versions.

Due to the potential need for businesses to hire qualified experts to install the units and make the necessary alterations to the store layout, the cost of installing these freezers may pile up. Small and medium-sized enterprises may need more financial resources to invest in pricey refrigeration equipment, making the high initial cost of merchandising refrigerators a considerable barrier. Due to this restriction, some businesses may choose to use less expensive substitutes or put off updating their refrigeration systems, which could hamper the market’s expansion.

Increased Adoption Of Smart Refrigerators

The growing trend towards linked homes and the increased need for convenience and flexibility in daily life are two aspects driving smart refrigerators’ adoption. The advanced features in smart refrigerators, such as touchscreens, voice control, and Wi-Fi connectivity, enable consumers to monitor and manage their refrigerators from a distance using their smartphones or other mobile devices. The ease they provide users is one of the major advantages of smart refrigerators. Users who prefer not to engage with their refrigerators physically may effortlessly modify temperature settings, make shopping lists and check the contents of their refrigerators thanks to features like voice control and touchscreen displays. Users can quickly and simply detect which goods need to be refilled or consumed, saving time and reducing the danger of food spoilage or waste.

Smart refrigerators not only make life easier, but they also give users flexibility. Thanks to Wi-Fi connectivity, users can monitor and manage their refrigerators even while they are away from home, which allows them access from any location at any time. Families who are constantly on the go can benefit the most from this because it enables them to keep track of their food inventory and shopping lists. The escalating trend towards linked homes is a major factor in the uptake of smart refrigerators. The demand for smart equipment like refrigerators is rising as more consumers adopt smart home technology. A seamless and practical user experience can be created by integrating smart refrigerators with other smart home gadgets, such as voice assistants or home security systems. All of the elements above are anticipated to accelerate market expansion shortly.

Competitive Landscape

Key Players

The global merchandising refrigerators market is highly competitive, with the presence of several key players. Some of the major players in the market and their market share are as follows:

• Danfoss
• Micro Market
• Emperor’s Select
• Carrier Commercial Refrigeration
• Hussmann
• Metalfrio
• Lennox
• Delfield
• Galaxy
• True Manufacturing
• Dover Corporation
• Choice
• Estella Caffe
• Avantco Refrigeration
• Koolmore
• SABA
• Others

To stay competitive in the market, these businesses prioritize product innovation, enlarging their distribution networks, and mergers and acquisitions.

The key players in the worldwide merchandising refrigerators market are continually launching new products and developments to stay ahead.

In 2021, a new line of glass door merchandisers featuring cutting-edge LED lighting and energy-saving features was unveiled by True Manufacturing, a top producer of commercial refrigeration equipment.

In 2020, an innovative temperature control system and remote monitoring features are now available in a new range of merchandizing refrigerators from Hussmann Corporation, a manufacturer of refrigeration systems on a global scale.

In 2020, Dover Corporation announced the acquisition of Envirocooler, a producer of energy-efficient refrigeration systems that combine hydrocarbon refrigerants and cutting-edge insulating technology.

Summary of Key Findings

• Rising demand for convenience foods and expanding IoT and AI applications in refrigeration systems are the primary factors projected to propel the growth of the merchandizing refrigerators market in the near future.
• Market segmented by product type, refrigerants used, application, and region.
• Glass door merchandisers are the most popular, with the fluorocarbons category acting as the primary refrigerants used.
• The commercial segment is the most commonly used application of merchandising refrigerators.
• North America is leading market growth; the market is highly competitive with key players including Danfoss, Micro Market, Emperor’s Select, Carrier Commercial Refrigeration, Hussmann, Metalfrio, Lennox, Delfield, Galaxy, True Manufacturing, Dover Corporation, Choice, Estella Caffe, Avantco Refrigeration, Koolmore, SABA, and others.

Future Outlook

• The global market for merchandising refrigerators is expected to increase significantly, especially in the North American continent.
• The growing number of retail establishments and the intensifying competition among retailers to provide customers with a better shopping experience are expected to be the main drivers of the demand for merchandising refrigerators. Additionally, the growing popularity of online grocery shopping is predicted to boost the demand for merchandising refrigerators.
• The high initial cost of merchandising refrigerators restricts the market’s ability to grow. For small and medium-sized businesses, purchasing and installing merchandising refrigerators can be pricey.
• To remain competitive, key businesses should develop innovative products, broaden their market, and keep their prices low.

Segmentation

• By Product Type:
  • Open Display Merchandisers
  • Glass Door Merchandisers
  • Bakery Cases
  • Freezer Merchandisers
  • Specialty Glass Door Merchandisers
• By Refrigerants Used:
  • Fluorocarbons
  • Hydrocarbons
  • Others
• By Application:
  • Residential
  • Commercial
• By Region
  • North America
  • The US.
  • Canada
  • Mexico
  • Europe
    • Germany
    • France
    • The U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South-east Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of the Middle East and Africa