Study #: 4086 | Published: 02/2021 | Pages: 153 | Individual User License: US$ 3,900

Global demand for commercial refrigeration equipment in the food retail market is forecast to grow 2.1% annually through 2024 to $13.8 billion. The retail market for commercial refrigeration equipment is projected to strengthen significantly post-pandemic, aided by and improvement in economic conditions around the world and the easing of COVID-19 restrictions. Many of the factors that drove growth during the last decade will once again cause the market to expand, including:

  • population growth
  • increasing consumption of refrigerated food and beverage products in developing Asia/Pacific, Africa/Mideast, and Central and South American nations
  • the introduction of new refrigeration technologies

Additionally, with operators in many parts of the world delaying equipment purchases in 2020, replacement product demand is expected to accelerate during the post-pandemic recovery.

Demand for Food & Beverages Remained Strong in 2020 Despite Decline in Equipment Sales

In 2020, the spread of the COVID-19 pandemic globally had a profound impact on the global economy. Consumer spending and fixed investment declined in many parts of the world, as most countries instituted lockdowns and restricted business operation and capacity. As a result, sales of commercial refrigeration equipment installed in food retail applications fell approximately 10% in 2020. 

However, consumer demand for food and beverage products remained strong, and in some cases even became elevated as concerns about shortages led to panic buying and stockpiling. Consumers continued to need to eat, and many who used to dine more frequently away from the home chose to stay home, and this prevented the retail market from seeing the more extreme losses registered by the foodservice market. Additionally, numerous food and beverage retailers invested in new refrigeration equipment to meet rapidly changing shopping behavior. In the US, for instance, a large number of retailers began to offer curbside pick-up, resulting in a rise in sales of refrigeration machinery used to keep these goods cold while awaiting pickup.

Technological Innovation to Drive Long-Term Growth

Following the delay of many trade shows and product launches, the introduction of new commercial refrigeration technologies – which offer superior performance, reduced energy consumption, and increased versatility – will spur both new and replacement equipment sales globally. Furthermore, market gains will be boosted by the adoption of new technologies will be encouraged by the implementation of:

  • new food and beverage safety regulations
  • environmental and technical standards for refrigeration

Concerns about the environmental impact of refrigerants will intensify in North America, Europe, and parts of Asia, further enhancing the appeal of new models.


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Table of Contents

1. Executive Summary

2. About This Report

Report Details

Study Scope & Product Description

Impact of COVID-19 Pandemic

3. Overview

Historical Market Trends

Demand by Region

Leading Country Markets

Leading Producing Countries

Leading Suppliers to the Retail Market

Technology & New Product Development

Smart Technology

Magnetic Refrigeration

4. Products

Demand by Product

Display Cases

Reach-In & Walk-In Refrigerators & Freezers

Beverage Refrigeration Equipment

Ice Machines

All Other Refrigeration Equipment

5. North America

North America: Retail Commercial Refrigeration Equipment Market Size

Demand by Country & Product

United States

Canada

Mexico

6. Central & South America

Central & South America: Retail Commercial Refrigeration Equipment Market Size

Demand by Country & Product

Brazil

Other Central & South America

7. Western Europe

Western Europe: Retail Commercial Refrigeration Equipment Market Size

Demand by Country & Product

Germany

France

United Kingdom

Italy

Spain

Netherlands

Other Western Europe

8. Eastern Europe

Eastern Europe: Retail Commercial Refrigeration Equipment Market Size

Demand by Country & Product

Russia

Other Eastern Europe

9. Asia/Pacific

Asia/Pacific: Retail Commercial Refrigeration Equipment Market Size

Demand by Country

China

Japan

India

South Korea

Indonesia

Australia

Taiwan

Other Asia/Pacific

10. Africa/Mideast

Africa/Mideast: Retail Commercial Refrigeration Equipment Market Size

Demand by Country

Turkey

Other Africa/Mideast

11. Appendix

Scope

Definitions

Freedonia Methodology

Study-Specific Methodology

Sources

Associations & Agencies

Related Studies & Reports

Country Lists by Region

Macroeconomic Assumptions

Global Economic Outlook

Global Population

Global Urban Population

Global Fixed Investment

Global Personal Consumption Expenditures

Global Nonresidential Building Construction Outlook


List of Tables

2. About This Report

Table 2-1 | Annual Retail Commercial Refrigeration Equipment Demand, 2019 - 2021 (million dollars)

3. Overview

Table 3-1 | Global Retail Commercial Refrigeration Equipment Demand, 2009 - 2019 (million dollars & percent annual change)

Table 3-2 | Global Retail Commercial Refrigeration Equipment Demand by Region, 2009 - 2029 (million dollars)

4. Products

Table 4-1 | Global Retail Commercial Refrigeration Equipment Demand by Product, 2009 - 2029 (million dollars)

Table 4-2 | Global Retail Display Case Demand by Region, 2009 - 2029 (million dollars)

Table 4-3 | Global Retail Reach-In & Walk-In Refrigerator & Freezer Demand by Region, 2009 - 2029 (million dollars)

Table 4-4 | Global Retail Beverage Refrigeration Equipment Demand by Region, 2009 - 2029 (million dollars)

Table 4-5 | Global Retail Ice Machine Demand by Region, 2009 - 2029 (million dollars)

Table 4-6 | Global Demand for Other Retail Refrigeration Equipment by Region, 2009 - 2029 (million dollars)

5. North America

Table 5-1 | North America: Retail Commercial Refrigeration Equipment Demand by Country & Product, 2009 - 2029 (million dollars)

Table 5-2 | United States: Retail Commercial Refrigeration Equipment Demand by Product, 2009 - 2029 (million dollars)

Table 5-3 | Canada: Retail Commercial Refrigeration Equipment Demand by Product, 2009 - 2029 (million US dollars)

Table 5-4 | Mexico: Retail Commercial Refrigeration Equipment Demand by Product, 2009 - 2029 (million dollars)

6. Central & South America

Table 6-1 | Central & South America: Retail Commercial Refrigeration Equipment Demand by Country & Product, 2009 - 2029 (million dollars)

Table 6-2 | Brazil: Retail Commercial Refrigeration Equipment Demand by Product, 2009 - 2029 (million dollars)

Table 6-3 | Other Central & South America: Retail Commercial Refrigeration Equipment Demand by Product, 2009 - 2029 (million dollars)

7. Western Europe

Table 7-1 | Western Europe: Retail Commercial Refrigeration Equipment Demand by Country & Product, 2009 - 2029 (million dollars)

Table 7-2 | Germany: Retail Commercial Refrigeration Equipment Demand by Product, 2009 - 2029 (million dollars)

Table 7-3 | France: Retail Commercial Refrigeration Equipment Demand by Product, 2009 - 2029 (million dollars)

Table 7-4 | United Kingdom: Retail Commercial Refrigeration Equipment Demand by Product, 2009 - 2029 (million dollars)

Table 7-5 | Italy: Retail Commercial Refrigeration Equipment Demand by Product, 2009 - 2029 (million dollars)

Table 7-6 | Spain: Retail Commercial Refrigeration Equipment Demand by Product, 2009 - 2029 (million dollars)

Table 7-7 | Netherlands: Retail Commercial Refrigeration Equipment Demand by Product, 2009 - 2029 (million dollars)

Table 7-8 | Other Western Europe: Retail Commercial Refrigeration Equipment Demand by Product, 2009 - 2029 (million dollars)

8. Eastern Europe

Table 8-1 | Eastern Europe: Retail Commercial Refrigeration Equipment Demand by Country & Product, 2009 - 2029 (million dollars)

Table 8-2 | Russia: Retail Commercial Refrigeration Equipment Demand by Product, 2009 - 2029 (million dollars)

Table 8-3 | Other Eastern Europe: Retail Commercial Refrigeration Equipment Demand by Product, 2009 - 2029 (million dollars)

9. Asia/Pacific

Table 9-1 | Asia/Pacific: Retail Commercial Refrigeration Equipment Demand by Country & Product, 2009 - 2029 (million dollars)

Table 9-2 | China: Retail Commercial Refrigeration Equipment Demand by Product, 2009 - 2029 (million dollars)

Table 9-3 | Japan: Retail Commercial Refrigeration Equipment Demand by Product, 2009 - 2029 (million dollars)

Table 9-4 | India: Retail Commercial Refrigeration Equipment Demand by Product, 2009 - 2029 (million dollars)

Table 9-5 | South Korea: Retail Commercial Refrigeration Equipment Demand by Product, 2009 - 2029 (million dollars)

Table 9-6 | Indonesia: Retail Commercial Refrigeration Equipment Demand by Product, 2009 - 2029 (million dollars)

Table 9-7 | Australia: Retail Commercial Refrigeration Equipment Demand by Product, 2009 - 2029 (million US dollars)

Table 9-8 | Taiwan: Retail Commercial Refrigeration Equipment Demand by Product, 2009 - 2029 (million dollars)

Table 9-9 | Other Asia/Pacific: Retail Commercial Refrigeration Equipment Demand by Product, 2009 - 2029 (million dollars)

10. Africa/Mideast

Table 10-1 | Africa/Mideast: Retail Commercial Refrigeration Equipment Demand by Country & Product, 2009 - 2029 (million dollars)

Table 10-2 | Turkey: Retail Commercial Refrigeration Equipment Demand by Product, 2009 - 2029 (million dollars)

Table 10-3 | Other Africa/Mideast: Retail Commercial Refrigeration Equipment Demand by Product, 2009 - 2029 (million dollars)

11. Appendix

Table 11-1 | Relevant Industry Codes

Table 11-2 | Relevant HS Codes

Table 11-3 | Relevant NACE Codes

Table 11-4 | Countries in North America

Table 11-5 | Countries in Central & South America

Table 11-6 | Countries in Western Europe

Table 11-7 | Countries in Eastern Europe

Table 11-8 | Countries in the Asia/Pacific Region

Table 11-9 | Countries in the Africa/Mideast Region

Table 11-10 | Global Gross Domestic Product by Region & Country, 2009 - 2029 (billion 2018 dollars)

Table 11-11 | Global Population by Region & Country, 2009 - 2029 (million persons)

Table 11-12 | Global Urban Population by Region & Country, 2009 - 2029 (million persons)

Table 11-13 | Global Fixed Investment by Region & Country, 2009 - 2029 (billion 2018 dollars)

Table 11-14 | Global Personal Consumption Expenditures by Region & Country, 2009 - 2029 (billion 2018 dollars)

Table 11-15 | Global Nonresidential Building Construction Expenditures by Region & Country, 2009 - 2029 (billion 2018 dollars)


List of Figures

1. Executive Summary

Figure 1-1 |Global Retail Commercial Refrigeration Equipment Market Outlook

2. About This Report

Figure 2-1 | Retail Commercial Refrigeration Equipment Demand, 2009 - 2024 (million dollars)

3. Overview

Figure 3-1 | Global Retail Commercial Refrigeration Equipment Demand, 2009 - 2019 (million dollars)

Figure 3-2 | Global Retail Commercial Refrigeration Equipment Demand by Region, 2009 - 2029 (million dollars)

Figure 3-3 | Retail Commercial Refrigeration Equipment Demand: Leading Country Markets, 2019 (million dollars)

4. Products

Figure 4-1 | Global Retail Commercial Refrigeration Equipment Demand by Product, 2009 - 2029 (million dollars)

Figure 4-2 | Display Cases: Product Examples

Figure 4-3 | Reach-In & Walk-In Refrigerators & Freezers: Product Examples

Figure 4-4 | Beverage Refrigeration Equipment: Product Examples

Figure 4-5 | Ice Machines: Product Examples

5. North America

Figure 5-1 | North America: Retail Commercial Refrigeration Equipment Demand, 2009 - 2019 (million dollars)

Figure 5-2 | North America: Retail Commercial Refrigeration Equipment Demand by Country, 2009 - 2029 (million dollars)

6. Central & South America

Figure 6-1 | Central & South America: Retail Commercial Refrigeration Equipment Demand, 2009 - 2019 (million dollars)

Figure 6-2 | Central & South America: Retail Commercial Refrigeration Equipment Demand by Country, 2009 - 2029 (million dollars)

7. Western Europe

Figure 7-1 | Western Europe: Retail Commercial Refrigeration Equipment Demand, 2009 - 2019 (million dollars)

Figure 7-2 | Western Europe: Retail Commercial Refrigeration Equipment Demand by Country, 2009 - 2029 (million dollars)

8. Eastern Europe

Figure 8-1 | Eastern Europe: Retail Commercial Refrigeration Equipment Demand, 2009 - 2019 (million dollars)

Figure 8-2 | Eastern Europe: Retail Commercial Refrigeration Equipment Demand by Country, 2009 - 2029 (million dollars)

9. Asia/Pacific

Figure 9-1 | Asia/Pacific: Retail Commercial Refrigeration Equipment Demand, 2009 - 2019 (million dollars)

Figure 9-2 | Asia/Pacific: Retail Commercial Refrigeration Equipment Demand by Country, 2009 - 2029 (million dollars)

10. Africa/Mideast

Figure 10-1 | Africa/Mideast: Retail Commercial Refrigeration Equipment Demand, 2009 - 2019 (million dollars)

Figure 10-2 | Africa/Mideast: Retail Commercial Refrigeration Equipment Demand by Country, 2009 - 2029 (million dollars)

11. Appendix


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