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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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