The chest freezers global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Chest Freezers Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The chest freezers market size has grown rapidly in recent years. It will grow from $16.31 billion in 2023 to $18.36 billion in 2024 at a compound annual growth rate (CAGR) of 12.6%. The growth in the historic period can be attributed to rising demand in developing economies, growth in small and medium enterprises, consumer preference for bulk purchasing, increasing focus on food waste reduction, growth in e-commerce.
The chest freezers market size is expected to see rapid growth in the next few years. It will grow to $29.72 billion in 2028 at a compound annual growth rate (CAGR) of 12.8%. The growth in the forecast period can be attributed to increasing demand for frozen food, rising disposable income, expansion of cold storage infrastructure, growing urbanization and migration to cities, growth in retail sector. Major trends in the forecast period include demand for energy-efficient and eco-friendly models, shift toward energy-efficient appliances, investment in retail chains, product customization and variety, improvements in after-sales service.
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Scope Of Chest Freezers Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Chest Freezers Market Overview
Market Drivers –
The rise in demand for frozen food products is expected to propel the growth of the chest freezer market going forward. Frozen food products are items that are preserved by freezing to retain freshness and nutrients and extend shelf life for later consumption. The demand for frozen food products is due to their convenience, longer shelf life, and the increasing consumer preference for ready-to-eat meals amid busy lifestyles. Chest freezers are required for frozen foods to provide optimal long-term storage with consistently low temperatures that help maintain the quality, safety, and extended shelf life of frozen items. For instance, in January 2023, according to a report published by the American Frozen Food Institute, a US-based trade association, in the U.S., frozen food sales reached $72.2 billion in 2022, an 8.6% increase in value compared to 2021. Therefore, the rise in demand for frozen food products is driving the growth of the chest freezer market.
Market Trends –
Major companies operating in the chest freezer market are focused on developing and launching innovative products, such as future of cold storage, to offer flexibility to switch between freezer and refrigerator modes. The future of cold storage is poised for transformation through technological innovation, a focus on sustainability, and an expanding market driven by consumer demand for frozen goods. For instance, in November 2023, EF Education First (EF), a Switzerland-based home appliances company, launched Chest Freezers, offering consumers advanced cold storage solutions. These freezers feature cutting-edge cooling technology that provides rapid and even freezing, helping to preserve the freshness and nutritional value of food for longer periods. With a generous storage capacity, EF Chest Freezers offer ample space for organizing everything from frozen fruits and vegetables to bulk purchases and homemade meals. The user-friendly interface includes precise temperature controls, allowing for optimal storage conditions. This not only maintains food quality but also improves energy efficiency.
The chest freezers market covered in this report is segmented –
1) By Type: 500 And Above Liters, 300 To 500 Liters, 200 To 300 Liters, 200 And Below Liters
2) By Distribution Channel: Online, Offline
3) By Energy Efficiency: High, Medium, Low
4) By Door Type: Solid Door, Glass Door
5) By Application: Retail, Hospitality, Food And Beverage Processing, Cold Storage And Warehouses, Healthcare, Research And Laboratories, Residential, Other Applications
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Regional Insights –
North America was the largest region in the chest freezers market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the chest freezers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the chest freezers market are LG Electronics, Midea America Corp., Whirlpool Corp., Sharp Corporation, Liebherr-International GmbH, Electrolux Group, Westinghouse Electric Corp., The Middleby Corp., Dometic Group AB, Gorenje, Fisher & Paykel Appliances Ltd., Beko Plc, Danby, Rockwell Industries Ltd., Hisense Inc., U-Line Corp., Everest Refrigeration, Frigidaire, Elan Professional Appliances Pvt Ltd., Haier, Turbo Air Inc., Smeg Ltd., Avanti Products LLC, Kenmore Ltd., Western Refrigeration Pvt Ltd.
Table of Contents
1. Executive Summary
2. Chest Freezers Market Report Structure
3. Chest Freezers Market Trends And Strategies
4. Chest Freezers Market – Macro Economic Scenario
5. Chest Freezers Market Size And Growth
…..
27. Chest Freezers Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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