Ice Makers Market Share Expected to Reach 3,165.1 million USD Driving Global Demand, Size, Share, Regions, Current Trends and Forecast to 2030
Research Reports
Dec 19, 2022
Ice Makers Market Research Report and Growth Analysis 2023 by Type (Modular Ice Maker, Undercounter Ice Maker Countertop Ice Maker, and Ice Dispenser), End-Use (Residential and Commercial), Distribution Channel (Store Based and Non-Stored Based), and Region (North America, Asia-Pacific, Europe, and Rest of the World) —Forecast till 2030
Ice Makers Market Research Future Insights
According to market research future insights analysis, the global ice makers market is expected to register a CAGR of ~ 4.20% from 2022 to 2030 and hold a value of over ~USD 3.5 billion by 2030.
The expansion of the worldwide ice maker market is primarily driven by rising demand for ready-to-eat beverages as a result of busier lifestyles and rising ice consumption in the healthcare sector. The most recent trend suggests rising ice machine demand as healthcare spending in public, and private sectors keep rising.
Key Players
Some key market players are,
- A&V REFRIGERATION
- ALI GROUP S.R.L.
- CORNELIUS INC.
- HOSHIZAKI CORPORATION
- KOLD-DRAFT
- MIDDLEBY CORPORATION
- NORTH STAR ICE EQUIPMENT CORPORATION
- S. ICE MACHINE MANUFACTURING CO.
- WELBILT INC.
- WHYNTER LLC and Others
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The rising demand for alcoholic beverages and cold drinks is the main factor propelling the ice maker market. In the upcoming years, the global ice maker market will experience an elevated trajectory. The market’s expansion may be limited by the high cost of ice makers, though. Furthermore, many businesses are adopting strategic choices, such as partnering with research centers to release new goods and increase their market share. As a result, the market for ice makers is expanding quickly.
Ice Makers Market Regional Analysis
North America dominated the market for ice makers in 2021. North America’s growing health consciousness drives the healthcare market. Ice is frequently utilized to provide patients with nutritious drinks and other food supplements for their health. The market for ice makers grows as North America’s social position, economy, and consumer tastes for outdoor eating change. The need for ice makers is growing as North America’s alcoholic beverage business expands. According to estimates, approximately 85% of North American citizens like to drink alcoholic beverages, which fuels the ice maker industry.
Asia Pacific to register lucrative growth in the market for ice makers. The ice maker market is driven by rising consumer demand for supermarkets, convenience stores, and shopping centers. The quality of food products at shopping centers and convenience stores heavily depends on ice. The ice maker market is driven by people in this demographic’s sedentary lifestyles and rising disposable incomes.
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Ice Makers Market Segmentation
The global ice makers market has been segmented into product type and application
Based on product type, the ice makers market has been segmented into modular ice makers, under-counter ice makers, countertop ice makers and ice dispensers. The under-counter ice maker category accounted for the largest share of the market in 2021. Under-counter ice machines are permanently placed or integrated into the building in home and commercial settings, including hotels, pubs, and restaurants. The market for built-in and under-counter ice makers in residential applications is anticipated to be driven by rising disposable income, evolving lifestyles, and increased consumer demand to replace outdated technology. They improve the kitchen’s aesthetic appeal. On the other hand, the countertop ice maker category is anticipated to grow at a significant rate. Restaurant owners are looking for an ice maker machine that occupies small spaces and can fit directly on a beverage dispenser to create a self-serve machine, thus helping restaurant owners reduce labor costs.
Based on application, the ice makers market has been segmented into food service, food processing, healthcare, retail outlets and others. The food service category accounted for the largest share of the market in 2021. The demand for ice makers in the food service sector has been driven by the rise in the working millennial population, shifting tastes in ready-to-eat foods, and increased demand for personalized and more modern food and chilled beverage options. On the other hand, the healthcare category is anticipated to grow significantly. The demand for ice makers in the hospital application segment is anticipated to be driven by the rising healthcare system spending by various governments worldwide in response to the most recent coronavirus outbreak.
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY 13
1.1 MARKET ATTRACTIVENESS ANALYSIS 14
1.1.1 GLOBAL ICE MAKER MARKET, BY TYPE 15
1.1.2 GLOBAL ICE MAKER MARKET, BY END USE 16
1.1.3 GLOBAL ICE MAKER MARKET, DISTRIBUTION CHANNEL 17
1.1.4 GLOBAL ICE MAKER MARKET, BY REGION 18
2 MARKET INTRODUCTION 19
2.1 DEFINITION 19
2.2 SCOPE OF THE STUDY 19
2.3 RESEARCH OBJECTIVE 19
2.4 MARKET STRUCTURE 20
2.5 KEY BUYING CRITERIA 20
3 RESEARCH METHODOLOGY 21
3.1 RESEARCH PROCESS 21
3.2 PRIMARY RESEARCH 22
3.3 SECONDARY RESEARCH 23
3.4 MARKET SIZE ESTIMATION 23
3.5 FORECAST MODEL 25
3.6 LIST OF ASSUMPTIONS & LIMITATIONS 26
4 MARKET DYNAMICS 27
4.1 INTRODUCTION 27
4.2 DRIVERS 28
4.2.1 GROWTH OF THE FOODSERVICE INDUSTRY 28
4.2.2 INCREASING HOUSEHOLD USE 28
4.2.3 DRIVERS IMPACT ANALYSIS 29
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