The refrigerated display cabinets (RDC) market is expected to grow at a CAGR of 10% during the forecast period of 2023 to 2030.RDCs are a type of food service equipment that is used for the purpose of displaying and keeping various types of edible goods. They are put to use to maintain the appropriate temperatures for the food items. They are typically utilised at grocery shops, gas stations, and more intimate food and beverage establishments such as "corner stores" and delicatessens. Produce, meat, fish, poultry, dairy products, deli items (with dedicated employees), and frozen goods are shown in supermarkets using refrigerated display cabinets. Supermarket’s stock a variety of frozen foods. RDCs are utilised for the presentation of chilled beverages and ice-confectionary at gas stations as well as by smaller merchants.RDCs allow the stored products to be directly viewed through an opening in the cabinet or through transparent doors, lids, or covers that are usually kept closed and can be opened to access the contents. Additionally, these cabinets allow users to access any of the contents without stepping inside the refrigerated space, which is a huge time saver. The market for refrigerated display cabinets is expanding due to the expansion of retail (food retail) store networks, increases in consumers' disposable incomes, and shifts in the consumers' lifestyles. Plug-in has the largest market share in the global market for chilled display cases, although the remote operated device category has the highest market share overall.
Market For RDCs Is Expanding as The Number of Restaurants Grow
The need for refrigerated display cases in the retail food and beverage sector has been steadily and consistently increasing, which has led to growth in the global market for these cases. This is a widespread pattern that can be seen in both industrialised and emerging nations, and it can be attributed to the rapid increase in the number of retail establishments. In addition, based on design, the vertical/multideck RDC market is projected to grow at a quick pace, notably in the food and beverage industry. This is particularly the case in the United States.The need for warehousing and transporting food and drink has become progressively more important as urbanisation has progressed. Customers are looking for food services that can keep up with their hectic lifestyles, which has led to an increase in the number of restaurants offering rapid service. This has been a significant contributor to the development of lucrative new potential for the sale of refrigerated display cases. The growing prevalence of metropolitan areas has led to a dramatic growth in the demand for facilities that can store and convey food and beverages. In addition, profitable high development potential for the market is presented by the huge expansion in the number of quick service restaurants located all over the world. The demand for quick-service restaurants (QSRs) is expanding at a faster rate than that for casual dining, mostly because of reasons such as rising per capita income and urbanisation, as well as increased participation of women in the labour sector. The quick-service restaurant business is thriving across Asia, particularly in India and China, which will help drive the demand for refrigerated display cases in these nations.
Expanding Retail Sector Fuels Growth for RDC Market
Opportunities for growth will also be created by the expansion of the retail sector, which includes the establishment of supermarkets, hypermarkets, and convenience stores. These distribution channels need for efficient space usage as well as regular upkeep of the interior environment. Because of this, there is a greater need for refrigerated display cases that include condensers that are situated at a distance from the main body of the store. This ensures that there is no heat loss within the store itself while also making more room for inventory.
Increasing Investment in Research and Development for Technically Advanced RDCs
The leading manufacturers in the global market for refrigerated display cases are investing heavily in research and development operations in order to provide products that are more technologically advanced and efficient in their use of energy. Some of the important trends that are promoting research and development initiatives include giving competitive prices, increasing the degree to which end users are satisfied with the performance, and making use of sophisticated technologies.These cases are made possible by the most recent technological developments, such as remotely positioned condensers, which ensure that there is no heat loss in the shop interior while also making it possible to have more space for storage. Refrigerated display cabinets that are controlled remotely have a very low overall energy consumption and a high user volume. The new cutting-edge function, which was made possible thanks to the incorporation of IOT technology, enables remote monitoring and control of the RDCs.
Environment-Friendly RDCs Are Being Developed
Refrigerated display cases are making steady progress toward the development of environmentally friendly refrigerants. In an effort to lessen their impact on the environment, retail establishments are moving away from open display cabinets and toward closed ones. Because of EU F-gas legislation in Europe, hydrofluorocarbon (HFC) refrigerants have been capped. If food stores switched from using F-gases to natural refrigerants, they would be eligible for significant financial incentives. Technological progress, including the introduction of solar-powered screens, will present an opportunity for business expansion. The introduction of the magnetic cooling system, which uses water as the coolant instead of the refrigerant gas that is the primary cause of climate change, has produced an environmentally friendly solution that uses very little energy.
High Price of RDCsis A Challenge
However, the high price of refrigerator display cases is the primary factor that is expected to be the primary factor that will restrain the growth of the market for refrigerated display cases. The market for refrigerated display cases is anticipated to experience growth restraints on account of factors including high electricity consumption and rising levels of environmental concern.
The global market for refrigerated display cases is observing a rise in product innovation as well as shifting trends as a result of technological advancements and shifting consumer preferences. These factors are driving the emergence of new varieties and experimentation. At the moment, the implementation of RFID technology promises significant expansion for the market. This comes at a time when the retail industry is competing with e-commerce to win a larger portion of the market for refrigerated items. It is anticipated that the growing demand for chilled foods and the growing emphasis on quality will drive large growth for the market as key drivers of growth during the projected period. During this time, the industry is predicted to experience significant expansion. As a result of advances in digital technology, automated systems are becoming increasingly popular once again.
Retail Food and Beverage Sector Is a Dominant Player
The retail food and beverage sector held the dominant position in 2021. This is because of the growing demand from convenience stores, grocery stores, hypermarkets, and discount stores in new and emerging retail food and beverage operations all over the world. RDCs help to attract customers by displaying food and drink products in a way that is visually appealing to the consumer. The need for refrigerated display cases has been on the rise due to the significant increase that the retail industry has experienced over the past few years. Regarding the design, it is anticipated that there would be an increased need for vertical cases.
The ever-increasing need for energy-efficient refrigerated cases in the commercial food service sector has resulted in the requirement for ongoing research and development in refrigeration display case (RDC) technology. Increasing regulatory compliances and rising concerns for the safety of food are two main factors that are driving the growth of the market for refrigerated display cases. Some of the issues that are inhibiting the growth of the refrigerated display case market include low awareness and restricted acceptance in less developed regions, as well as growing worries about the environment. To meet the ever-increasing requirements of the commercial food business, the main market companies are producing energy-efficient RDCs of a variety of sorts and designs. This is being made possible by advances in technology.
Plug-In Refrigerated Display Cases Held the Largest Share of The Market
Plug-in refrigerated display cases held the largest share of the market for refrigerator display cases in 2021. Plug-in RDCs can take the form of anything from small chilled cases that are mounted to a wall in order to be opened, to curved glass display cases that are stored on the ground. It is anticipated that bottle coolers that are plug-in devices would have the quickest increase because of the growing demand for bottled and carbonated drinks. In the current RDC market business landscape, plug-in RDCs are frequently employed because they offer a bigger storage capacity at a lower cost. This is the primary reason for their widespread adoption. Customers like to make use of these refrigeration units since not only are they appealing but also offer the highest possible storage capacity. The RDC market has developed to its full potential in significant economies such as those of Europe and North America. RDCs have been implemented in the majority of grocery stores and other retail and food service locations across Europe, which is a significant revenue generator for the international market.
Vertical Refrigerated Display Cases Are Growing in Popularity
Vertical RDCs segment held the largest share in the market in 2021. Vertical refrigerated display cases are growing in popularity due to the fact that they take up less floor area and provide an increasing variety of products. Additionally, they are simple to relocate and require little in the way of upkeep. Because an increasing number of individuals prefer to buy their food already packaged and processed, even stores that sell food are eager to show off their display cabinets in an effort to entice customers. These cabinets give an enhanced visual attraction towards the food items that are housed within them as a result of developments in the product line, the adoption of LED lighting, and the use of frost-free glasses. Therefore, having a beneficial impact on the purchasing decision of clients; the food appears to be freshly prepared, which leaves a pleasant impression in the mind of a customer.
APAC to Remain as the Most Dominant Region During the Forecast Period
During the forecast period of 2023 to 2030, it is anticipated that Asia-Pacific will emerge as the market with the highest CAGR growth rate.It is probable that the pace of adoption of refrigerated display cases will increase as a result of advances in commercial practises within the retail food sector of developing nations. The rapid expansion of the refrigeration storage industry in Asia-Pacific and the Middle East is projected to be a driving force behind the expansion of the RDC market on a worldwide scale. RDC devices are becoming more commonplace in supermarkets and hypermarkets with the purpose of ensuring the proper storage and safety of food. RDCs are finding uses in a variety of industries, including the biomedical industry for the storage of flowers and in corner food retail shops to handle the growing concerns of product safety and temperature maintenance.
Intense Competition Due to Market Fragmentation
Due to the presence of numerous market players, the market for refrigerated display cases is extremely fragments and is therefore, characterized by intense competition. The top players control more than two thirds of the total market share worldwide. Some of the firms are concentrating on developing a specialisation inside a particular market segment. In addition to this, there is a significant emphasis placed on new product development and introductions.The key companies include Carrier Corporation, Danfoss A/S, and Frigoglass SAIC, EptaS.p.a. Dover Corporation, Haier Group, and Arneg S.p.A., Fagor Industrial Illinois Tool Works Daikin Industries, Ltd. CAREL INDUSTRIES S.p.A. Illinois Tool Works Daikin Industries, Ltd.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Refrigerated Display Cases market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
