Ice Maker Market to Reach $2.78 Bn, Globally, by 2027 at 4.4% CAGR, Says Allied Market Research

- Rise in demand for ice makers from food processing industry, surge in innovation in ice makers, and growth of organized retail outlets drive the growth of the global ice maker market

PORTLAND, Ore., March 2, 2021 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Ice Maker Market by Product Type (Modular ice maker, undercounter ice maker, countertop ice maker and ice dispenser) and Application (Food service, food processing, healthcare, retail outlet and others): Global Opportunity Analysis and Industry Forecast, 2021–2027". As per the report, the global ice maker industry was pegged at $2.33 billion in 2019, and is estimated to reach $2.78 billion by 2027, growing at a CAGR of 4.4% from 2021 to 2027.

Major determinants of the market

Rise in demand for ice makers from food processing industry, surge in innovation in ice makers, and growth of organized retail outlets drive the growth of the global ice maker market. However, high frequent maintenance and negative effect of ice maker on the environment hamper the growth of the market. On the contrary, increase in energy-efficient and cost-effective ice makers is expected to open lucrative opportunities for the market players in the future.

Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/9432

COVID-19 scenario:

• Meat packing industry, one of the highest end-users of ice makers, was the worst hit due to the Covid-19 outbreak. This significantly affected the demand for ice makers.
• The prolonged lockdown across several countries resulted in disruption of the supply chain and shortage of raw materials.

The modular ice maker segment dominated the market

By product type, the modular ice maker segment held the largest share in 2019, contributing to more than one-third of the global ice maker market, as it is ideal for the business with a small area and has several sizes as per requirement. However, the countertop ice maker segment is projected to manifest the highest CAGR of 6.3% during the forecast period, as it is compact, self-serve unit, and produces ice very quickly, and can be easily carried from one place to another place.

The retail outlets segment to manifest the highest CAGR through 2027

By application, the retail outlets segment is anticipated to register the highest CAGR of 5.6% from 2021 to 2027. However, the food service segment held the lion's share in 2019, accounting for more than one-third of the global ice maker market, owing to increasing demand for ice cubes for alcoholic and non-alcoholic beverages and rise in usage of flavored water. Moreover, surge in penetration of fast-food chains further supplements the segment growth.

North America held the lion's share

By region, the market across North America, dominated in 2019, contributing to nearly two-fifths of the global ice maker market, due to presence of a large number of food service industries, high adoption of advanced products, and increase in demand for processed food in the region. However, the market across Asia-Pacific is projected to portray the highest CAGR of 6.4% during the forecast period, owing to expansion of several retail chains and stores and rise in quality of life in this region.

For Purchase Enquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/9432

Major market players

• Hoshizaki corporation
• A & V Refrigeration Corp
• Manitowoc ice (WELBILT, INC.)
• Middleby Corporation
• Ali Group S.p. A.
• Kold-Draft
• Cornelius, Inc.
• Whynter, LLC
• North Star Ice Equipment Corporation
• U.S. Ice Machine Mfg. Co.

Avenue Basic Plan | Library Access | 1 Year Subscription |

Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.

Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter

Get more information: https://www.alliedmarketresearch.com/library-access

Similar Reports

Food Service Equipment Market: Global Opportunity Analysis and Industry Forecast 2021–2027

Wine Production Machinery Market: Global Opportunity Analysis and Industry Forecast 2020–2027

Deep Fryer Market: Global Opportunity Analysis and Industry Forecast 2019–2026

Edible Cutlery Market: Global Opportunity Analysis and Industry Forecast 2019–2026

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): 1-800-792-5285, 1-503-894-6022, 1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research 

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg