CLEVELAND, July 24, 2020 /PRNewswire/ — Demand for refrigerated and frozen display cases is forecast to rise 5.5% annually through 2024 to $1.6 billion. Although the commercial refrigeration equipment market as a whole will decline slightly, the strength of the food retail market after the onset of the pandemic will support continued growth in display case sales through 2024.
Sales of both normal temperature and low temperature display cases will continue to be impacted by the R-22 refrigerant ban. While a number of users replaced their equipment in the years leading up the ban, there remains a significant amount of R-22-based equipment that has not been replaced because retailers either did not have the financial capital to do so, or they postponed replacement to better gauge the alternative refrigerant system in which to invest.
Normal temperature, or refrigerated, display cases account for the larger share of segment sales because most traditional grocery stores have a higher number of refrigerated display cases than frozen cases.
Normal temperature display cases are expected to outperform low temperature cases in a continuation of recent trends. Sustained consumer interest in fresh foods will continue to support equipment sales. However, opportunities will remain for low temperature cases because food products stored in these cases have a longer shelf life than fresh foods. This is especially true in convenience stores and discount food retail stores, which tend to stock high profit margin frozen foods for their customers.
Refrigerated & Frozen Display Cases is now available from the Freedonia Group.
Demand for display cases is presented in US dollars at the manufacturers’ level. Unit estimates are also provided. Historical data for 2009, 2014, and 2019 and forecasts for 2024 and 2029 are presented in current dollars (which are not adjusted to account for inflation).
See related Machinery & Equipment studies here: https://www.freedoniagroup.com/industry-category/mach/machinery-equipment.htm
About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, and market share information. Studies can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.
Press Contact:
Corinne Gangloff
+1 440.842.2400
[email protected]
SOURCE The Freedonia Group
