Expansion of Supermarkets to Drive the Flake Ice Machine Market Growth
The flake ice machine market was valued at US$ 1.77 Bn in 2017 and expected to be growing at a compounded annual growth rate (CAGR) of 8.2% from 2018 to 2026. One of the most important advantages of flake ice is, being thin, flake ice do not damage the delicate fish skin. With excellent characteristics, flake ice finds wide application in the processing industries. Moreover, the sea food industries is one of major users of flake ice. Furthermore, flake ice also finds application in dye making and plays a vital role in concreting. It helps to avoid any cracks in concreting. One of the most prominent factors aiding the flake ice machine market growth is the significant growth of the super markets and hypermarkets across the world. Countries such as China and India have remained in the forefront in this context with a high growth of such infrastructures in recent years. Consumers are increasingly preferring modern trade formats like supermarkets and hypermarkets which are stepping up to fulfil the needs of consumers.
Fishery and Aquatic Food Processing Industry to Remain an Important Application Field for Flake Ice
Fishery and aquatic food processing stood as the largest segment in terms of value in 2017. Flake ice is extensively used in the fishery and aquatic food processing industry. Flake ice is one of the best method for cooling seafood products quickly in order to preserve peak freshness. Moreover, the fact that flake ice is harmless, portable and cheap is another important factor aiding its adoption in the fishery and aquatic food processing industry. Flake ice helps in keeping the fish cold, moist & glossy and at the same time proves beneficial to prevent dehydration, which is often common in case of other methods of cooling, such as refrigerated storage without ice.
Product Innovation to Remain an Important Strategy for Manufacturers to Gain a Competitive Advantage
The flake ice machine market is highly competitive with the presence of both domestic as well as international players. Product quality, brand recognition, availability, performance, product innovation and product pricing are some of the major criteria on which the market players usually compete. The players in order to get a competitive advantage often invest in product innovation. For instance, recently, MAJA, a German based manufacturer of flake ice machines, introduced a “hybrid” machine that facilitates end users such as a supermarket to initially use an HFC refrigerant but ultimately transit to CO2. The new product is specially targeted at customers who are not able to invest in CO2 refrigeration rack at the moment, but can switch over in coming years.
Asia Pacific to Remain the Most Attractive Market for Investment during the Forecast Period
The global flake ice machine market was dominated by Asia Pacific accounting for more than 30% of the overall market value in 2017. The Flake Ice Machine Market in the region is driven by the rapid expansion of supermarkets and hypermarkets in the region. Flake ice often finds application in these retail outlets to store and display fish and seafood. In recent years, there has been a significant rise in the number of super markets and hypermarkets in Asia Pacific. China stood as the largest market in the region accounting for nearly 30% of the regional value in 2017.
Key players profiled in the report include North Star, Focusun, MAJA GmbH & Co. KG, Scotsman, ICEMAN Corporation, Hoshizaki, Industrial Refrigeration Pvt. Ltd., Ice-O-Matic, Telstar and Recom among others.
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 Flake Ice Machine 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
