In 2023, the market for commercial ice equipment and supplies is projected to be worth US$7.9 billion. The market for commercial ice equipment and supplies as a whole is anticipated to grow at a CAGR of 5.5% between 2023 and 2033, reaching a value of roughly US$ 13.6 billion by 2033 due to the rising popularity of modular and undercounter ice machines around the world.
The growing popularity of online shopping is one of the major factors fueling market expansion. Many end users prefer to buy commercial ice equipment and supplies online due to the growing acceptance of e-commerce. As more businesses adopt online sales and marketing, this trend is anticipated to continue. Greater convenience, lower costs, and a larger product selection are all benefits of online shopping.
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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.
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:
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
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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.
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
