PUNE, India — The global glass door refrigerators market was worth $6.53 billion in 2014 and is expected to reach $13.66 billion by 2023, expanding at a compound annual growth rate (CAGR) of 8.6 percent from 2015 to 2023, according to a new market report published by Transparency Market Research. Asia Pacific was the largest market for glass door refrigerators in 2014. Growth in this region is expected to be driven by urbanization, changes in food consumption habits, a developed food and beverage industry, and retail infrastructure.
Glass door refrigerators are widely deployed in retail channels. This is because this equipment allows for the display of products that require cold storage to drive customer engagement and enhance sales and productivity. Glass door refrigerators are specially designed to display and store. They are commonly used by supermarkets/hypermarkets; grocery stores; hotels/restaurants; catering businesses; nonconventional outlets, such as gas stations; and kiosks/local grocers. The practice of using glass door refrigerators by the biomedical sector for the purpose of storing specimens or drugs is also picking up gradually. This is largely due to the development of advanced refrigerators with critical temperature control features.