The global open air merchandizers and accessories market is poised for remarkable growth in the coming decade, driven by an array of factors that underscore the increasing demand for high-capacity storage solutions in various commercial settings. According to Future Market Insights, this market is projected to be valued at US$ 1,813.6 million in 2023, with a promising compound annual growth rate (CAGR) of 6.4% from 2023 to 2033, ultimately reaching a substantial value of US$ 3,385.9 million by the end of the forecast period in 2033.
One of the key drivers fueling this impressive growth is the rising demand for high-capacity devices tailored for specialized storage requirements. In particular, the healthcare sector, including hospitals and clinics, has emerged as a significant contributor to the surge in demand. These establishments require efficient and reliable solutions to store medications and medical equipment that necessitate specific storage conditions, such as temperature and humidity control. Open air merchandizers and accessories offer a practical and cost-effective means to meet these stringent storage requirements.
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Key Insights from the Market Analysis:
- The global open air merchandizers and accessories market witnessed a steady growth with a Compound Annual Growth Rate (CAGR) of 5.5% from 2018 to 2022.
- In 2022, North America emerged as the dominant region in the global open-air merchandizers and accessories market, contributing to more than 23.7% of the total revenue share.
- Within North America, the United States (U.S.) market for open-air merchandizers and accessories is projected to demonstrate a 5.4% year-on-year growth by volume.
- The United Kingdom is poised to lead the Western Europe market, with a forecasted Compound Annual Growth Rate (CAGR) of 6.1% over the designated period.
Further Valuable Insights Provided:
Future Market Insights presents an impartial analysis of the global open air merchandizers and accessories market, encompassing historical data spanning from 2018 to 2022 and forecasted statistics extending from 2023 to 2033.
To discern opportunities within the open air merchandizers and accessories market, the report is categorized based on installation type (counter mounted, drop in, freestanding, and under counter), refrigeration type (remote refrigeration and self-contained refrigeration), components (evaporator, compressor, condenser, thermostat, and capillary tube), and distribution channel (offline stores and online retail stores), covering five significant regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
Competitive Landscape:
Prominent players in the global market include:
Beverage-Air, Koolmore, Koldline, Delfield, Hyrda Kool, Marchia, Kool-It, Avantco Refrigeration, Micro Market, Universal.
Noteworthy Developments from Key Players:
In March 2023, Accucold, a division of Felix Storch, Inc. (FSI), expanded its range of vaccine refrigeration equipment certified to the NSF/ANSI 456 Vaccine Storage Standard. The Accucold Pharma-Vac Performance Series, available in 9 sizes, adheres to the latest standard through testing by an ANSI-accredited third-party laboratory.
In January 2023, Traulsen introduced its TF Flex Drawer under-counter refrigerator/freezer, equipped with a unique feature allowing the temperature of each drawer to be adjusted from cooling to freezing with a simple touch. Each drawer has the flexibility to operate at distinct temperature settings.
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Key Segments Profiled in the Open Air Merchandizers and Accessories Market:
By Installation Type:
- Counter Mounted
- Drop In
- Freestanding
- Under Counter
By Refrigeration Type:
- Remote Refrigeration
- Self-contained Refrigeration
By Components:
- Evaporator
- Compressor
- Reciprocating
- Hydrocarbon
- Scroll
- Condenser
- Thermostat
- Capillary tube
By Distribution Channel:
- Offline Stores
- Hypermarkets
- Departmental Stores
- Multi-brand Store s
- Discount Stores
- Specialty stores
- Online Retail Stores
Author:
Ronak Shah (Associate Vice President at Future Market Insights) is deeply committed to uncovering actionable insights for consumer and food and beverage players. She brings a unique blend of analysis, industry trends, and consumer behavior to put data into perspective.
What she makes out of data becomes a delight to read. She has authored many opinions, including for publications like Process Industry Informer and Spinal Surgery News, as she understands the market pulse and consumers’ shifting preferences.
She likes to bring experts to a roundtable to weigh the impact of a trend on an industry. Catch up with her discussion on the impact of AI in packaging.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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