In 2023, the global Commercial Ice Equipment and Supplies Market is expected to be worth US$ 7.9 billion. With the growing popularity of modular and undercounter ice machines around the world, the commercial ice equipment and supplies market is expected to grow at a CAGR of 5.5% between 2023 and 2033, reaching around US$ 13.6 billion by 2033.
The rising demand for online purchasing is one of the key drivers of market growth. With the growing popularity of e-commerce, many end-users prefer to buy commercial ice equipment and supplies online. As more businesses embrace online sales and marketing, this trend is expected to continue. Online shopping provides greater convenience, lower prices, and a wider range of products.
Another factor driving the growth of the Commercial Ice Equipment and Supplies market is the rising demand for customized ice machines. With the growing competition in the foodservice industry, many businesses are looking for unique ways to stand out from their competitors. This has led to a rising demand for customized ice machines that can produce different types of ice shapes and sizes to match the specific needs and preferences of each business.
The increasing demand from emerging economies is accelerating the demand for Commercial Ice Equipment and Supplies. As developing countries continue to experience economic growth and urbanization, the demand for commercial ice equipment and supplies is expected to increase. This is especially true in regions such as Asia-Pacific and Latin America, where the foodservice industry is rapidly expanding.
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The increasing popularity of outdoor dining and entertainment is also expected to boost the market prospects. There has been a spur in a shift towards outdoor dining and entertainment options, as consumers seek safer ways to socialize and enjoy dining experiences. This has led to a growing demand for outdoor commercial ice machines that can withstand harsh outdoor environments and produce high volumes of ice for outdoor events and gatherings.
Key Takeaways from the Market Study
- Global Commercial Ice Equipment and Supplies Market was valued at US$ 7.5 billion by 2022-end
- From 2018 to 2022, the market demand expanded at a CAGR of 2.7%
- North America is expected to hold the highest CAGR of 5.3% during the forecast period.
- By Installation, the under counter machine segment is expected to constitute a CAGR of 5.4%
- By distribution channel, online retail stores dominate the market, growing at a 5.3% CAGR
“The growing demand for ice machines with built-in water filtration, as well as integration of IoT and AI technologies, are the major factors that are expected to propel the growth of the Commercial Ice Equipment and Supplies market in the near future,” remarks an FMI analyst.
Competitive Landscape
Prominent players in the commercial ice equipment and supplies market are Manitowoc, Follett, Welbilt Inc., Middleby Corporation, Hoshizaki, Bluestar, Whirlpool, Scotsman, Summit, Whynter, Howe Corp., Ice-O-Matic, Danfoss AS, and HOSHIZAKI Corp., among others.
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Recent Developments:
- In February 2021, Welbilt Inc. announced the launch of their new Crem Freezer, which is designed to create premium ice cream, gelato, and sorbet.
- In December 2020, Manitowoc Foodservice announced the launch of their new Indigo NXT series of ice machines, which are designed to be more energy-efficient and environmentally friendly.
- In July 2020, Scotsman Ice Systems announced the launch of their new Prodigy Plus line of ice machines, which are designed to be more energy-efficient and easier to clean.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global Commercial Ice Equipment and Supplies market, providing historical data for 2018-2022 and forecast statistics from 2023-2033.
To understand opportunities in the Commercial Ice Equipment and Supplies market, the market is segmented on the basis of installation (floor standing machine, under counter machine, and countertop machine), equipment type (ice making head, remote condensing unit, and self-contained unit), by distribution channel (offline stores, and online retail stores), across five major regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
Key Segments Covered in the Commercial Ice Equipment and Supplies Industry Analysis
By Installation:
- Floor Standing Machine
- Under Counter Machine
- Countertop Machine
By Equipment Type:
- Ice Making Head
- Remote Condensing Unit
- Self-Contained Unit
By Ice-Maker:
- Continuous
- Nuggets
- Flakes
- Batch
By Cooling Method:
- Air Cooled
- Water Cooled
By Distribution Channel:
- Offline Stores
- Hypermarkets/Supermarkets
- Independent Store
- Multi-brand Store
- Specialty Store
- Online Retail Stores
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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