As consumer preference for ready-to-eat products in increasing rapidly, manufacturers are increasing their focus toward the integration of new advancements in refrigeration devices. Ready-to-eat products have always been an area of interest, and are one of the favorite sectors that attract development in the refrigerator industry.
As such, the global refrigerated glass door market is estimated to expand at a healthy CAGR of 7% by value during the forecast period of 2020-2030, doubling its size over the next decade, according to a study by Persistence Market Research.
In terms of revenue, the market is mainly prevalent in developed regions such as North America and Europe. The US is the largest independent market for refrigerated glass doors, while China is the largest exporter of refrigerated glass doors. Additionally, with the rapidly growing food & beverage industry, there has been a rise in the demand for refrigerated glass doors in developing countries as well.
The refrigerators & freezers segment is a prominent segment in terms of revenue generation. However, in terms of unit sales, glass door merchandisers are expected to dominate and project significant opportunities in the global refrigerated glass door market throughout the forecast period. “Over the past few years, there has been substantial change in consumer habits in terms of consumption of beverage products. This can be attributed to significant macroeconomic factors such as increasing disposable income and improvements in the standard of living, which has resulted in an increase in the number of restaurant chains, bars, etc. This factor is aiding the growth of the refrigerated glass door market,” a Persistent Market Research analyst said.