Sizing up the Global Refrigerated Glass Door Market Sector From 2023 to 2030, to Reach USD 23.43 Billion by 2030 With 9.49% of CAGR
NEW YORK, May 26, 2023 /PRNewswire/ -- As per Zion Market Research study, The global refrigerated glass door market size was valued at USD 12.42 Billion in 2022 and is anticipated to reach USD 23.43 Billion during the forecast period. The market is likely to grow with a CAGR of 9.49% between 2023-2030.
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Refrigerated Glass Door Market: Overview
Refrigerators have become essential household item in modern-day life. However, refrigerators come in unique styles. With time, they have become more stylish and sleek, attention-seeking items. Among all, glass door refrigerators are much in demand these days. A glass door offers a complete view of the content of the refrigerator. It seems to be a simple feature that is a big flex to supermarkets, hypermarkets, big shops, or even homes. A clear view helps people grab the items of their choice instantly, thereby aiding in maintaining the temperature of the refrigerators. Moreover, these glass door refrigerators resist the dent and scratches efficiently. However, the glass doors come in different colors, patterns, finishes, and more. Also, with the right maintenance, these refrigerators look pristine for years. These are ideal for the food & beverages industry. It helps to grab the attention of the customers, thereby boosting sales. It can be used anywhere from the grocery department to concession stands.
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Key Industry Insights & Findings of the Refrigerated Glass Door Market Reports:
- As per the analysis shared by our research analyst, the global refrigerated glass door market size is estimated to grow annually at a CAGR of around 9.49% over the forecast period (2023-2030).
- In terms of revenue, the global market size was valued at around USD 12.42 Billion in 2022 and is projected to reach USD 23.43 Billion by 2030.
- The growing need for waste control is likely to boost the global refrigerated glass door market size growth.
- Based on the application, the glass door merchandiser dominates the global market.
- Based on the door type, the hinged door segment accounts for the largest share of the global market.
- Based on the capacity, the 6.1 to 9.0 cu ft segment is likely to dominate the growth of the global market.
- Based on region, Asia Pacific is expected to dominate the market during the forecast period.
Zion Market Research published the latest report titled "Refrigerated Glass Door Market By Application (Refrigerated Vending Machines, Glass Door Merchandisers, Freezers & Refrigerators, And Beverage Refrigerators), By Door Type (Sliding Doors And Hinged Doors), By Capacity (6.1 To 9.0 Cu Ft, 3.1 To 6.0 Cu Ft, And 0.5 To 3.0 Cu Ft), And By Region: - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts, 2023-2030." into their research database.
Industry Dynamics:
Refrigerated Glass Door Market: Growth Drivers
- Fast growing retail sector is anticipated to propel the growth of the global market.
There is a significant spike in the number of retail stores globally. Market players are expanding their roots in diverse emerging markets to capitalize the people's purchasing power. Therefore, it is expected to boost the growth of the global refrigerated glass door market significantly. Also, the increasing number of government's favorable policies to promote the growth of the retail sector and the country's economy is likely to positively impact the growth of the global market. Infrastructural development is another reason for the growth of the market. Changing food habits of people due to their hectic lifestyle will also contribute heavily towards the growth of the market. People nowadays are mostly preferring packaged & processed food, and these items are largely stored in glass-door refrigerators. Therefore, such a landscape will offer a healthy growth trajectory in the forthcoming years.
Refrigerated Glass Door Market: Restraints
- High cost of glass door refrigerators is likely to hamper the growth of the global market.
These glass-door refrigerators are quite expensive when compared to regular ones, thereby hindering the growth of the global refrigerated glass door industry. Also, the users are worried regarding the maintenance due to the long-term collaborations with the suppliers and distributors, which in turn is expected to slow down the growth trajectory of the global market.
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Refrigerated Glass Door Market: Opportunities
- Innovations in the food & beverage sector are likely to offer growth opportunities to the global market.
Glass doors are very much ideal for use in the food & beverage sector. Companies are likely to expand their business by establishing new outlets and distribution channels. Small and medium companies are constantly boosting their research and development activities to innovate products to grab customers. Therefore, prominent players in the food and beverage sectors are highly adopting these refrigerators to showcase their new products. The growing demands for consumer goods and increasing urbanization are further likely to offer lucrative growth opportunities to the global refrigerated glass door market. Also, the significant rise in the number of commercial stores, retail stores, airports, stations, etc., is complementing the growth of the global market.
Refrigerated Glass Door Market: Challenges
- Strict regulations to avoid fluoro-chemical-based refrigerators are a big challenge in the global market.
The stringent rules and regulations to use natural refrigerators are a big challenge for medium to small-business owners. The government, for several economies, is publishing regulations to use hydrocarbons and CO2 natural refrigerators. Therefore, it is expected to slow down the growth of the global refrigerated glass door industry.
Global Refrigerated Glass Door Market: Segmentation
· The global refrigerated glass door market can be segmented into application, door type, capacity, and region.
On the basis of the application, the market can be segmented into refrigerated vending machines, glass door merchandisers, freezers & refrigerators, and beverage refrigerators. The glass door merchandiser dominates the global refrigerated glass door market due to the fast-growing retail segment across the globe.
On the basis of door type, the market can be segmented into sliding doors and hinged doors. Furthermore, the sliding door can be segmented into single doors, double doors, and more than two doors. Also, the hinged doors can be further segmented into two doors and a single door. The hinged door segment accounts for the largest share of the global refrigerated glass door industry because these are largely used by small to medium-level consumers. Among both, the double door segment leads the market owing to their comfortability and easy-to-handle nature.
Also, the sliding door segment is anticipated to see significant growth in the global market due to its high demand from heavy end users like hypermarkets, supermarkets, etc.
On the basis of capacity, the market can be segmented into 6.1 to 9.0 cu ft, 3.1 to 6.0 cu ft, and 0.5 to 3.0 cu ft. The 6.1 to 9.0 cu ft segment is likely to dominate the growth of the global market due to the high demand for such capacity refrigerators in convenience stores, supermarkets, and hypermarkets. The segment has acquired a leading position in the market by offering high storage space. The 3.1 to 6.0 cu ft segment is also likely to grow steadily due to its rising demand recently from the domestic segment.
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List of Key Players in Refrigerated Glass Door Market:
- Standex International Corporation
- Manitowoc Co. Inc
- Lennox International Inc.
- Innovative DisplayWorks
- Hussmann Corporation
- Haier Group
- Epta S.p.A.
- Dover Corporation
- Beverage-Air Corporation.
Key questions answered in this report:
- What are the growth rate forecast and market size for Refrigerated Glass Door Market?
- What are the key driving factors propelling the Refrigerated Glass Door Market forward?
- What are the most important companies in the Refrigerated Glass Door Market Industry?
- What segments does the Refrigerated Glass Door Market cover?
- How can I receive a free copy of the Refrigerated Glass Door Market sample report and company profiles?
Report Scope:
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Recent Developments
- Bio Fresh Tech signed an agreement with Frost-Troll on March 15, 2021, to innovate a patented technology for the purpose of thermal storage suitable for refrigerated cabins for the food distribution sector.
- Hauser introduced Refino, an innovative product under its category of multi-desk products on Nov 5, 2020, with a clear view of items stored goods with its transparent product design.
Regional Dominance:
- Asia Pacific dominates the global market.
Asia Pacific accounts for the largest share of the global refrigerated glass door market. South Korea, India, Japan, India, and Australia are some of the leading countries in the market. The fast-growing food and beverage sector is likely to boost the demand for these glass-door refrigerators. The rising population and wide adoption of Western culture is the major reason for the growth of the food and beverage sector. The increasing disposable income of the people is further complimenting the growth of the regional market. Also, the growing idea of modernizing the infrastructure is paving a positive trajectory for the growth of the regional market.
North America is also expected to register a significant CAGR during the forecast period owing to the launch of innovative products in the region. However, the US is a leading country in the regional market because of its strong economy. The high per capita income of people and rising living standards are expected to boost the growth of the regional market. The presence of strong market players in the region is expected to contribute heavily towards the development of the regional market.
Global Refrigerated Glass Door Market is segmented as follows:
Refrigerated Glass Door Market: By Application Outlook (2022-2030)
- Refrigerated Vending Machines
- Glass Door Merchandisers
- Freezers & Refrigerators
- Beverage Refrigerators
Refrigerated Glass Door Market: By Door Type Outlook (2022-2030)
- Sliding Doors
- Hinged Doors
Refrigerated Glass Door Market: By Capacity Outlook (2022-2030)
- 6.1 to 9.0 cu ft
- 3.1 to 6.0 cu ft
- 0.5 to 3.0 cu ft
Refrigerated Glass Door Market: By Region Outlook (2022-2030)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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