HVAC Breaking News / Refrigeration / Display Cases

Aug. 5, 2013: Growth in Foodservice Drives Demand for Display Cases

Demand for Refrigerated Display Cases Has Seen Steady Growth over the Last Decade

August 5, 2013
SAN JOSE, Calif. — The global market for refrigerated display cases is forecast to reach $7.6 billion by 2018, driven by growing population and the corresponding rise in food retailing, according to a new report by Global Industry Analysts Inc.

Demand for refrigerated display cases has been witnessing steady growth over the last decade supported by increasing competition in the food retailing space and the resulting need for attractive food display and distribution, says the report. Factors such as strong economic growth, rising levels of income, standard of living, and changing food habits in emerging countries, and growing concerns over food safety, are driving demand for refrigerated display cases. Other factors spurring growth include changing demographics, and a shift to natural refrigerants. The commitment to sustain a green environment is by far the most vital factor driving innovation in refrigeration technology, notes Global Industry Analysts. Partnerships are being forged across industries such as food, retail, and supermarkets to design and develop new refrigeration technologies using natural alternatives. Presently, there is a rise in the number of installations of CO2 refrigeration systems in supermarkets and food industries worldwide.

The Eurozone crisis and the resulting slowdown in economic performance in Europe have impacted consumer spending habits. The pressure on consumer confidence coupled with stricter regulatory standards, rising energy costs, and concerns over emissions from refrigerants are all expected to challenge growth in the market. Asia-Pacific, on the other hand, is forecast to witness healthy growth led by ambitious retail expansion plans of big box retailers.

Asia-Pacific represents the fastest growing market worldwide with a compound annual growth rate (CAGR) of 8.9 percent over the analysis period. Growth in the region is led by growing population, shifting preference for frozen and chilled processed and fresh foods, and growing disposable income among urban and rural dweller.

The United States represents the single largest market and is projected to register encouraging growth although lower than the global average. Gains are expected to be fueled by the expansion of restaurants and food retail outlets, steady consumer demand for convenience food, and growing product assortments and choices offered.

Publication date: 8/5/2013

Want more HVAC industry news and information? Join The NEWS on Facebook, Twitter, and LinkedIn today!

Did you enjoy this article? Click here to subscribe to The NEWS Magazine

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

2014 MCAA Annual Convention

Scenes from the 2014 MCAA Annual Convention in Scottsdale, Ariz.

Podcasts

NEWSmakers: Julian Scadden

Training is an ongoing process. Julian will discuss how you can generate maximum return on time and energy invested training by following a three part process. Listen to this podcast to get expert tips on training, tracking and follow up. 

More Podcasts

ACHRNEWS

NEWS 04-21-14 cover

2014 April 21

Check out the weekly edition of The NEWS today!

Table Of Contents Subscribe

SERVICE CALLS POLL

Which statement on service calls best applies to your business?
View Results Poll Archive

HVACR INDUSTRY STORE

plumbing-hvac.gif
2014 National Plumbing & HVAC Estimator

Every plumbing and HVAC estimator can use the cost estimates in this practical manual!

More Products

Clear Seas Research

 

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications, Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

DON'T MISS A THING

Magazine image
 
Register today for complete access to ACHRNews.com. Get full access to the latest features, Extra Edition, and more.

STAY CONNECTED

facebook icontwitter iconyoutube iconLinkedIn i con