Positioned for robust expansion, the global prep refrigerators market is expected to achieve a substantial valuation of US$ 8.2 billion in 2023, with a notable Compound Annual Growth Rate (CAGR) of 4.5% projected between 2023 and 2033. Fueled by an increasing demand for environmentally friendly refrigeration solutions, the market is poised to reach a significant milestone, surpassing the US$ 12.7 billion mark by 2033.
A key driver behind this remarkable growth is the rising adoption of commercial kitchens, particularly within the thriving food service industry. Insights from Future Market Insights (FMI) indicate that the flourishing food service sector, especially in emerging economies, is propelling the need for large-scale food production. This surge in food production necessitates specialized equipment, including commercial kitchens, consequently driving the demand for prep refrigerators.
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The growth of the prep refrigerators market is also being driven by the expansion of the food service industry in emerging economies. A growing need for commercial kitchens and food storage solutions has been witnessed, as more people dine out more frequently. The need for customized and flexible refrigeration solutions that can meet the unique needs of individual businesses is also piquing the interest of food service providers in prep refrigerators.
Key Takeaways:
- The global prep refrigerators market was valued at US$ 7.8 Billion by 2022.
- From 2018 to 2022, the market demand expanded at a CAGR of 2.3%.
- North America is expected to hold a dominant CAGR of 4.4% during the forecast period.
- By type, combination refrigerated prep tables are expected to rise in demand at a CAGR of 4.3%.
- By distribution channel, online retail stores are expected to dominate the market with a CAGR of 4.2%.
Competitive Landscape:
Prominent players in the prep refrigerators market are TRUE, Empura, Dover Corporation, Electrolux Professional, The Middleby Corporation, Delfield, Nella, New Air, Atosa, Beverage Air, Turbo Air, Universal, Haier Group, Hoshizaki, and Leader, among others.
Recent Developments:
- In 2021, True Manufacturing announced the launch of a new line of glass door refrigerators and freezers that use natural refrigerants and are designed to be highly energy-efficient. The company also expanded its production facilities in Missouri to meet the growing demand for its products.
- In 2021, Dover Corporation completed the acquisition of So-Low Environmental Equipment Co., a manufacturer of low-temperature freezers and refrigerators. The acquisition is expected to expand Dover’s product portfolio and strengthen its position in the scientific and healthcare markets.
- In 2021, Hoshizaki Corporation announced the launch of a new line of prep refrigerators with advanced features such as remote monitoring and digital controls.
More Valuable Insights Available:
Future Market Insights offers an unbiased analysis of the global prep refrigerators market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the prep refrigerators market, the market is segmented on the basis of type (prep tables with doors, prep tables with drawers, and combination refrigerated prep tables), by top type (standard top, mega top, and cutting top), refrigeration method (air-cooled, cold wall, and liquid jacket), by distribution channel (offline stores, and online retail store) across five major regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
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Key Segments Profiled:
By Type:
- Prep Tables with Doors
- Prep Tables with Drawers
- Combination Refrigerated Prep Tables
By Top Type:
- Standard Top
- Mega Top
- Cutting Top
By Refrigeration Method:
- Air Cooled
- Cold Wall
- Liquid Jacket
By Distribution Channel:
- Offline Stores
- Hypermarkets
- Departmental Stores
- Multi-brand Stores
- Discount Stores
- Specialty Stores
- Online Retail Stores
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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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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