Refrigerated Display Cases Market Expected to Reach $20.8 Billion by 2022
Growing food safety concerns are expected to boost the demand
PORTLAND, Ore. and PUNE, India — The global refrigerated display case market is expected to garner $20.8 billion by 2022, with a compound annual growth rate (CAGR) of 9.8 percent during 2016 to 2022, according to a new report published by Allied Market Research titled "Global Refrigerated display cases Market - Opportunities and Forecasts, 2015-2022." Due to its well-established food and beverage retail sector, Europe dominates the global refrigerated display case market in terms of revenue, with a share of around 32 percent in 2015.
The market is expected to grow at a notable pace over the next five to six years, owing to factors such as expanding organized retail sector including supermarkets and hypermarkets, changing food preferences, evolving lifestyles, and increasing disposable incomes. Moreover, a plethora of new developments in small-scale food and retail sector, and inclination towards food safety concerns, are expected to boost the demand for refrigerated display cases in the near future. Owing to emission of greenhouse gases like chlorofluorocarbons (CFCs) and hydrofluorocarbons (HFCs) in existing refrigerated display cases, various changes are now being adopted with regards to compressor design, specifically in North American and European countries. For instance, 2015 fluorinated gas (F-gas) regulations in Europe have boosted the demand for replacement and retrofitted cases.