Food Display Cabinet Market Report 2024 - Food Display Cabinet Market Trends And Share

"The Business Research Company recently released a comprehensive report on the Global Food Display Cabinet Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The food display cabinet market size has grown strongly in recent years. It will grow from $19.66 billion in 2023 to $21.48 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to the high demand for convenience foods, the need to keep food items fresh, busy lifestyles and urbanization, growth in middle class population, rise in need for food display cases to protect and maintain food freshness.

The food display cabinet market size is expected to see strong growth in the next few years. It will grow to $30.81 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to increasing focus on food safety and quality, growing demand for remanufactured food display cabinets, expansion of the food service industry, increasing focus on sustainability and energy efficiency, and change in living standards of consumers. Major trends in the forecast period include advancements in refrigeration technology, increased focus on sustainability and energy efficiency, increased adoption of solar power displays, smart food display cabinets, and advanced temperature control food display cabinets.

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Market Drivers and Trends:
The increase in the number of bakeries is expected to propel the growth of the food display cabinet market going forward. Bakeries are shops specializing in baking and selling bread, pastries, cakes, and other sweet treats. The rise in bakeries reflects a growing demand for convenient, fresh-baked goods and a wider variety of specialty breads and pastries. Bakeries utilize food display cabinets to showcase their tempting treats, attracting customers and keeping baked goods fresh and delicious. For instance, in 2022, according to the US Bureau of Labor Statistics, a US-based federal agency for labor economics and statistics, the number of private food and beverage stores, which encompass bakeries, rose from 159,059 stores in 2022 to 160,758 stores in 2023. Additionally, local government and state government food and beverage stores have increased from 465 to 467 and 423 to 429 from 2022 to 2023, respectively; this represents a 1% growth in food and beverage stores in the USA. Therefore, the rising number of bakeries will boost the demand for food display cabinets.

Major companies operating in the food display cabinet market are innovating approaches to enhance food cabinets with hot blanket technology, which improves temperature control, transparent design, ultra-thin shelves, and advanced shelf lighting options. The hot blanket technology in the food display cabinet combines mid-shelf heating and highly efficient air circulation to maintain food at optimum temperatures and save energy consumption. For instance, in 2021, Fri-Jado, the Netherlands-based food service equipment manufacturer, launched the MDD Hot, a new self-serve food display cabinet. This innovative product features a multi-deck, heated display case available in a 39-inch width with 3 tiers, allowing for an efficient and visually appealing presentation of various hot food options. The MDD Hot boasts a multi-temp function, enabling easy temperature adjustment per shelf, with a range of 104°F to 158°F (40°C to 70°C), ensuring that food remains fresh for up to 4 hours. Additionally, the cabinet utilizes conduction heat and hot air recirculation to maintain optimal temperatures, while LED lighting above each shelf highlights the displayed food.

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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.

Major Key Players of the Market:
Carrier Global Corporation, The Middleby Corporation, Hoshizaki Corp, Epta Group, Standex International Corporation, Beverage Air Corp, Metalfrio Solutions S.A., True Manufacturing Company Inc, Master-Bilt Products LLC, Foster Refrigerator Ltd, Hatco Corporation, Alto-Shaam Inc., Lincat Group Plc., The Vollrath Company LLC, Federal Industries, Irinox S.p.A., APW Wyott, Thermodyne Food Service Products Inc., Skyfood Equipment LLC, BAMBAS FROST, Kareliya Equipments, Kitchnrama Food Service Equipment Pvt. Ltd.

Food Display Cabinet Market 2024 Key Insights:
• The food display cabinet market size is expected to see strong growth in the next few years. It will grow to $30.81 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%.
• Increase In Number Of Bakeries To Drive Growth In Food Display Cabinet Market
• Technological Advancements In Food Display Cabinets Revolutionize The Market
• North America was the largest region in the food display cabinet market in 2023

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This release was published on openPR.