Commercial Refrigeration Equipment Market to Reach $46.4 Billion by 2022
The rapidly growing frozen foods industry is expected to fuel the commercial refrigeration market
SAN FRANCISCO — The global commercial refrigeration equipment market is expected to reach $46.4 billion by 2022, according to a new report by Grand View Research Inc. Rising disposable income and increasing industrialization and other demographic shifts have resulted in considerable changes in food consumption over the past few years.
Improvements in the food supply chain accompanied by economic development have changed the food consumption pattern over the last decade. The rapidly growing frozen foods industry is expected to fuel the commercial refrigeration market. The surging number of working population, busy lifestyles, consumer purchasing patterns, availability of a wide range of frozen food products in different categories, and the fact that frozen food delivers better value for the money and is compelling more consumers to indulge in using frozen foods, is leading to a growing demand for refrigeration capacity.