Ice Maker Market Size, Growth Opportunity | Regional Analysis and Forecasts Report 2025
Category: #world  By Rahul Varpe  Date: 2020-04-21
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Ice Maker Market Size, Growth Opportunity | Regional Analysis and Forecasts Report 2025

The Ice Maker Market is anticipated to record its name in the billion-dollar space within seven years, by exceeding a revenue of US$ 2.5 billion by 2025, with an anticipated CAGR of 6% through 2025. The increasing emergence of high-end & boutique bars that focuses on the presentation and quality will pose the demand for various ice-making machines such as square, gourmet, and large ice cubes. The changing consumer preferences are compelling manufacturers to develop a new variety of ice machines that offer ice in various shapes and sizes. The product development trends have increased the industry competition, resulting in technically advanced newer machines. Additionally, ice makers are gaining demand in residential applications in countries with high disposable incomes due to the emergence of modern homes and kitchens with in-built bars.

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The growing popularity of cocktails, presentation drinks, and expensive drinks served in bars, high-end restaurants, etc., is supporting the usage of nugget ice maker globally. This type of ice is used in various cooling purposes and beverage displaying in bars, shopping malls, departmental stores, and grocery stores. Additionally, the healthcare sector including hospitals, healthcare centers, etc., is a major nugget maker machine consumer due to chewable features of nuggets and easy consumption by patients. Moreover, the development of hydrocarbon-based and technically advanced ice machines by manufacturers, such as Hoshizaki, Scotsman, Manitowoc Ice, etc., is supporting the industry growth.

Some major findings of the ice maker market report include:

  • The healthcare industry is increasingly using ice maker systems for various critical applications including rehabilitation procedures and storing organs
  • The demand for versatile cube machines with dispensers is rapidly increasing from large chain hotels to offer a consistent & reliable ice source to visitors. Similarly, the demand for undercounter systems is increasing in smaller boutique restaurants to offer more specialty ice forms such as nugget or larger, clear cubes.
  • The growing demand for ice production in large volumes in the catering industry is creating a huge demand for industrial ice machines
  • Key players operating in the ice maker market include Howe Corporation, Cornelius, Inc., Ali Group S.p.A., Hoshizaki Corporation, Manitowoc Ice, Middleby Corporation, AB Electrolux, Brema Group S.p.A., and North Star Ice Equipment Corporation
  • Players are utilizing more natural refrigerants, such as propane or carbon, to reduce harmful environmental impact. The use of environment-friendly hydrocarbon refrigerant enables companies to offer customers a product that has zero ozone depletion potential (ODP) and low global warming potential (GWP), which improves energy efficiency and reduces operating costs.

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In the ice maker market, the commercial segment including food service and the healthcare sector are growing at a rapid pace owing to the increasing demand for ice-making machines in restaurants, hotels, bars, hospitals, pharma companies, etc. Major ice machine manufacturers are focusing on developing energy-efficient and restaurant-specific machines to cater to the demands of various customers. The increasing demand for ice in the food service sector with different shapes and sizes is a major factor supporting the innovation of new products. To cater to the changing demand from food service, processing, and transportation sectors, manufacturers are also investing huge amounts in R&D activities.

The infrastructure development of new supermarkets, hypermarkets, and restaurant chains along with the surging demand for fast food and beverages in the Middle East is fueling ice maker market growth. As per the data revealed by the International Trade Council, 20 new community shopping malls are under construction in Dubai, which are expected to be completed by 2020. Moreover, the growing tourism and events, such as FIFA World Cup 2022 in Qatar and World Expo 2020 in the UAE, are anticipated to surge the demand for food & beverages in the Middle East, providing lucrative opportunities to industry players and offering expansion opportunities.



About Author

Rahul Varpe

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Rahul Varpe

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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