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The ice maker market is expected to rise because of the increasing demand for ice in developing countries for its utilization in their daily food. Growing food services, beverage, and hotel industry give rise to the ice maker market. The ice maker market is growing with the increasing use of ice in swelling, pain and heat healing, and other treatment purposes in hospitals and clinics. The healthcare industry fuels the growth of the Icemaker market with the increasing use of ice in several critical medical applications.
Ice is widely used for the storage of the water for saving water resources and effective electricity generation, this gives rise to the ice maker market. Ice is largely used in various industries such as biotechnology, biochemistry, microbiology, and genetic engineering labs.
Hotel and quick service restaurants industry increases at a rate of 7% in 2019 globally. Ice is widely used in storing perishables and frozen foods in hotels and quick-service restaurants. Rising demand for such types of foods gives rise to the ice maker market. Hotels and restaurants require to keep their raw materials such as fruits, vegetables, meat, milk, and other food products chilled and they require a large amount of ice. Hence, they are the largest segments of the ice maker market.
Rising preferences for healthy food gives rise to the processed food market. Increasing the consumption of processed food products and beverages gives rise to the ice maker market. Increasing the use of ice cubes of different shapes and sizes to serve the drinks in hospitals gives rise to the ice maker market.
The global refrigerator market is increasing because of the rising demand for refrigerators in residencies and industries. This limits the growth of the ice maker market. Increasing the use of refrigerators in households and commercial purposes is a key restraint for the ice maker market.
The introduction of recent technology features and increasing the quality trust of the refrigerators increases its sales and affects the ice maker market. Higher ice machines cost and changing regulation and standards affects the small businesses in the ice maker market.
Key Market Driver -
Increasing demand for frozen and perishable food products gives rise to ice maker market
Key Market Restraint -
Increasing the use of refrigerators in households and commercial purposes affects ice maker market.
Key players in the ice maker market are AB Electrolux, A & V Refrigeration Corp., Ali Group SPA, Cornelious Inc., Direct Catering Products Ltd., Hoshizaki Corporation., Howe Corporation, Kold Draft, Middleby Corporation, North Star Ice Equipment Corporation, Whynter LLC., ITV Ice Makers, Brema Group SPA.
The global ice maker market is segmented by type, product, application, and by geography.
By type, the ice maker market is segmented as freezer ice makers, built-in and freestanding ice makers, portable ice makers. Portable ice maker’s segments account for the largest share in the ice maker market because of its faster cooling features, lightweight and easy portability. Portable ice machines largely used for preserving sea and other meat food quality.
By product, the ice maker market is segmented as, cube ice makers, half cube ice makers, nugget ice makers, flake ice makers, and others. These are the different niche markets that vary based on the shape of the ice produced from the ice maker machine. Cube ice is largely used in various cold drinks and beverages account for the largest share of the overall ice maker market. Cube ice maker segment holds maximum market share because of its various hotels and restaurants.
by application, Icemaker market is divided into different industries such as healthcare, hospitality, food services, hotels and restaurants, convenience stores, supermarkets and others. Hotels and restaurants industry segment is a fastest-growing segment for ice maker market. Hotels and restaurants requires bulk of ice cubes from ice makers for serving drinks and for other purposes such as food preservation and cold storage.
By geography, the ice maker market is segmented into Asia Pacific, North America, South America, Europe, the Middle East, and Africa. North America segment holds the largest share of the ice maker market. Rising awareness of health consciousness in North America gives rise to the healthcare market. Ice is widely used to serve healthy drinks and other food supplements to the patients for their health benefits. Changing the social status and economy of North America as well as having preferences of the peoples for outdoor foods increases the ice maker market.
North America has the largest number of healthcare clinics and hence it is one of the larger market shares for ice makers. Increasing the alcoholic beverage market in North America gives rise to the demand for ice makers market. It is accounted that nearly 85% of peoples of North America prefer to drink alcoholic beverages, this gives rise to the ice maker market.
Whereas in the Asia Pacific region, increasing demand for shopping malls, convenience stores, supermarkets give rise to the ice maker market. Ice is largely required in maintaining the quality of food products in shopping malls and convenience stores. Along with this sedentary lifestyle and increasing disposable incomes of peoples in this segment gives rise to the ice maker market.
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