Transparency
Market Research Reports incorporated a definite business overview and
investigation inclines on "SEA
Freezer and Beverage & Wine Coolers Market ". This
report likewise incorporates more illumination about fundamental
review of the business including definitions, requisitions and
worldwide business sector industry structure.
“
SEA market for freezers and beverage & wine coolers, in terms
of revenue, was valued at US$ 1,011.0 Mn in 2014 and is forecast to
grow at a CAGR of 6.4% during the period 2014 to 2022.”
Market
Version of the SEA Freezer and Beverage & Wine Coolers Market
The
refrigeration solutions available today have developed phenomenally
from the first ones that were invented, primarily for preservation of
food for domestic needs. With the advancement in technology,
refrigeration has gained numerous commercial applications in present
times.
In
the commercial refrigeration sector, the services and solutions
comprise a multitude of products such as plug-in commercial
refrigerators, horizontal freezers, refrigerating chambers, reach-in
refrigerated displays, ice machines, cold counters, refrigerated
automatic sales, and other products (liquid refrigerators, cryogenic
equipment).
Demand
for Packaged Foods Drives Demand for Commercial Refrigeration
Solutions
Expansion
of the food and beverage industry, which has led to increased
production of packaged food items and non-alcoholic drinks, increase
in large grocery chains, and booming tourism are the major factors
that are contributing to the SEA freezers and beverage wine coolers
market.Moreover, robust GDP, rapid urbanization, and advent of the
BPO and KPO industry all across the SEA region are supporting the
growth of this market.
With
advancement in refrigeration technology, the freezers and beverage
coolers available in the modern market offer cost-effective
energy-saving solutions for effective and efficient cooling in
various end-use applications.As such, in terms of revenue, the market
for freezers and beverage wine coolers in SEA stood at US$1,011.0
million in 2014 and is expected to display a 6.4% CAGR from 2014 to
2022.
Commercial
Freezers and Beverage Coolers to Witness Demand across Retail Outlets
The
SEA freezers and beverage wine coolers market is segmented on the
basis of freezer product types, freezer capacity, beverage cooler
product types, beverage cooler by door types, wine cooler capacity,
and countries.By products, in 2014, ice cream freezers held the
largest market share in the SEA market, approximately 42%. This is
mainly due to expansion of the service and hospitality sectors,
represented by a growing number of food chains, the mushrooming
tourism industry, and changing consumer eating habits.
However,
the demand for chest freezers from ‘mom and pop’ stores and
traditional retailers is expected to be on the rise in the coming
years. The product segment is expected to witness the fastest growth
of all product types, at a CAGR of 7.0% from 2014 to 2022 due to
growing demand for packaged food, canned food, and confectionery
items.
Owing
to increasing consumption of nonalcoholic beverages and soft drinks,
the SEA region has witnessed tremendous demand for installation of
beverage coolers for commercial use. The beverage cooler market is
further sub-segmented into beverage coolers and wine coolers.
Beverage coolers dominated the beverage cooler market, accounting for
58% of the market in 2014.
On
the other hand, wine coolers are expected to witness significant
demand between 2014 and 2020. This is mainly due to the growing
tourism and food and beverages sectors, which will fuel demand for
wine coolers in the SEA region.
Indonesia
Leads SEA
Market for Freezers and Beverage Coolers, Thailand Hot on its
Heels
By
capacity, 300 to 500 liter freezers held the largest market share,
accounting for almost 32% of the overall freezer market in SEA. As an
industry practice for mutual benefit, most FMCG manufacturers, ice
cream chain outlets, and food chains enter into contracts with
freezer manufacturers. To maintain such agreements, FMCG
manufacturers provide assistance to local convenience stores and
hypermarkets for setting up freezer sections.
By
country, in 2014, Indonesia accounted for the largest revenue in the
SEA freezer and beverage wine coolers market. However, Thailand is
expected to achieve significant growth in the market from 2014 to
2022.
Indonesia
led the SEA Freezer and beverage & wine coolers market in 2014
with the share of around 36% in 2014 of the overall SEA freezer and
beverage & wine coolers market. The reason behind this being more
number of consumers are demanding and purchasing packaged foods,
ready-meals, frozen foods, sauces and dressings. The market in
Thailand is expected to grow at fastest CAGR in both the categories
namely; freezers and beverage & wine coolers market during the
forecast period.
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