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The refrigerated display cases (RDC) market has experienced rapid expansion in recent years. This expansion is expected to continue in the coming years due to rising food retail demand. Rising population and rapid urbanisation in emerging economies will create significant growth opportunities in the coming years.
Future Market Insights (FMI), ESOMAR-certified market research and consulting firm, offers insights into key factors driving demand for Refrigerated Display Cases in its new study. The report examines the impact of COVID-19 on the manufacturing and retail industries in general, as well as the global sales of Refrigerated Display Cases in 20+ high-growth markets.
Increased sales of refrigerated display cases are expected to drive the market’s valuation to US$ 9.5 billion by 2021.
Future Market Insights (FMI) predicted stable long-term growth for the market in a study. The report analyses 20+ high-growth markets, providing detailed insights into Refrigerated Display Cases Market growth over the next decade.
The demand for refrigerated display cases declined in 2020, due to the recessionary effects of COVID-19 on the foodservice sector activities. However, barring a few countries, the activities in the food and beverage industry have resumed at a healthy rate post Q2 of the financial year.
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With the sector in recovery mode, the market for refrigerated display cases remains optimistic in the short and long term. According to the report, the retail food and beverage sector will continue to account for more than 70% of refrigerated display case sales throughout the forecast period.
The introduction of high-performance and connected refrigerated display cases with real-time cloud access and maintenance will open up new opportunities for growth. In the coming years, the market will also benefit from the introduction of low GWP refrigerants aimed at reducing environmental challenges.
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“Recent developments in the food service and food retail sectors are creating lucrative market opportunities.” Consumers’ preference for add-on features such as real-time maintenance, remote access, and others is growing, which is expected to boost growth. “In order to entice end users, manufacturers are offering competitive pricing and advanced technologies,” says FMI analyst.
The implementation of stringent government norms and regulations governing the use of refrigerant for cooling is expected to open up new growth opportunities for the refrigerated display case market. The growing emphasis on eco-friendly and sustainable refrigerated display cases in developed and developing economies around the world is creating opportunities for growth.
The market for refrigerated display cases is fairly competitive, with key players accounting for more than two-thirds of total market value share. To maintain their market share, these players are likely to invest in new technological developments and network expansion.
Some of the key players in the market are
From 2021 to 2031, the refrigerated display case market is expected to grow at a moderate rate. However, because it is a mature market, companies are expected to focus more on research and development. Collaboration, mergers, and acquisitions with regional companies will continue to be key strategies employed by market participants seeking to expand their footprint in the regional market.
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10-years.
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The post Refrigerated Display Cases Market Insights covering sales outlook, demand forecast, and current key trends appeared first on Future Market Insights.
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