The increasing consumption of ready-to-eat food items has massively bolstered the demand for commercial refrigeration systems and equipment across the world. Moreover, owing to the surging disposable income, the people of many countries, particularly those in the eastern part of the world, are increasingly demanding various ready-to-eat food items. In addition to this, the changing food preferences of people and the rising influence of western lifestyles are causing the development of numerous hypermarkets, fast food and restaurant chains, and supermarkets selling ready-to-eat food products.
The rapid development of such food outlets and the upgradation of small restaurants and grocery stores are bolstering the sales of commercial refrigeration systems as these systems are heavily required in these stores. Furthermore, the development of organized food retail chains and the growing popularity of e-commerce are boosting the need for food storage, which is, in turn, fueling the usage of large refrigeration systems. The increasing population in several countries is massively propelling the demand for food products, which is subsequently leading to a sharp rise in the sales of refrigeration systems across the world.
Because of the above-mentioned reasons, the global commercial refrigeration equipment market is predicted to register explosive growth in the future years. Walk-in coolers, beverage refrigeration equipment, ice merchandisers and ice vending equipment, and display showcases are the most widely used types of refrigeration systems around the world. Amongst these, the sales of the walk-in coolers were recorded to be very high during the last few years. This is ascribed to the burgeoning customer requirement for walk-in coolers. Moreover, the walk-in coolers manufacturing companies are increasingly focusing on R&D (research and development) activities for developing refrigerants having low-global-warming-potential (GWP).
These systems are commonly available in supermarkets/hypermarkets and specialty stores and can also be bought through various online platforms. Due to the rising internet penetration and the increasing usage of smartphones, the sales of refrigeration equipment will increase sharply via the online platforms. In addition to this, the e-commerce companies allow the buyers to view the various specifications of the products before buying them and also offer them discounts, which make the online platforms very popular amongst shoppers.
The major application areas of the refrigeration systems are the food and beverage production, food and beverage retail, and food service. Out of these, the utilization of these equipment is predicted to be the highest in the food service applications in the coming years. This is credited to the rapid growth of the global tourism industry, increasing number of food outlets and restaurant chains, and the rising government support in many countries for the adoption of sustainable refrigeration solutions in hotels, restaurants, educational institutions, fast food chains, and hospitals.
Across the globe, the commercial refrigeration equipment market will record the fastest growth in the Asia-Pacific (APAC) region in the forthcoming years, according to the forecast of P&S Intelligence, a market research company based in India. This is because of the soaring population and rising spending power of the people in the APAC countries. In addition to this, the rapid expansion of the quick-service restaurant sector and fast food outlets is propelling the requirement for refrigeration systems in the region.
Therefore, it can be said with confidence that the sales of commercial refrigeration systems will boom across the world in the years to come, primarily because of the growing demand for ready-to-eat food items, the surging requirement for food products, the flourishing tourism industry and restaurant sector, and the increasing popularity of fast food items all over the world.
