Beverage Refrigeration Market to experience huge growth by 2024

A detailed analysis of the Beverage Refrigeration is entailed in this research report. The driving forces responsible for propelling the growth graph of this vertical in addition to the regional and competitive trends are mentioned in the study. A comprehensive document comprising details about vital parameters such as the industry ecosystem analysis, market segmentation, and the vendor matrix, the Beverage Refrigeration report also contains information on the pivotal industry insights for core players to look out for.

The commercialization matrix of beverage refrigeration market is forecast to be positively high over the forthcoming years with the continuous modernization of food preservation techniques. Along with provision of cooling at a diversified storage conditions, beverage refrigeration industry participants are increasingly focusing on curbing the detrimental impact of the refrigerants on the environment. In this regard, it is prudent to mention that Frigel’s ingress in the business with its engineered refrigeration system has significantly impacted the overall competitive landscape of the industry. 

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With U.S. at its foray, it is no surprise that North America beverage refrigeration market has carved profitable roadmap over the recent years. This can be primarily credited to the escalating consumption of refreshment drinks in this belt as well as the technological affluency of the countries under its veil.  In fact, statistics claim that U.S. liquid refreshment beverage market recorded a volume coverage of almost 33 billion gallons in 2016. 

As the consumer trend toward liquid beverages continues to upsurge, it is quite overt that the demand for safer and sustainable refrigeration techniques would witness a meteoric rise.  Global Market Insights, Inc., estimates that North America beverage refrigeration market size will surpass a revenue collection of USD 1 billion by 2024. 

Product analysis: 

Product segmentation: The report claims that the Product landscape of the Beverage Refrigeration is subdivided into – 

•Under Counter Beverage Refrigerator  

•Countertop Beverage Refrigerator 

•Storage Beverage Refrigerator

Important pointers encompassed pertaining to the Product spectrum:

•Major details about the Product spectrum are provided in the report.

•The study elaborates on the remuneration forecast of each of the Product categories by the end of the anticipated duration.

•The market share which each of the Product segments account are mentioned in the study.

•Also, the most proliferating trends that the Product spectrum is characterized by are also entailed.

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Nowadays, consumers are increasingly becoming health conscious, a factor that has completely changed the overall dynamics of food refrigeration industry, leaving a perpetual impact on beverage refrigeration market as well. In addition, increasing penetration of supermarkets and hypermarkets in the retail space is propelling commercial refrigeration equipment market demand across the globe. With increasing appetite for technological advancements in this particular business arena, beverage refrigeration market despite accounting for a minor fraction of the colossal HVAC industry, has a lucrative growth path ahead in terms of profitability landscape. A recent report put forth by Global Market Insights, Inc., claims beverage refrigeration industry size to surpass a valuation of USD 4.5 billion by 2024, with a volume coverage of 7.4 million units over the coming years.

The Beverage Refrigeration research report presents significant information on the methodology deployed to conceptualize the study in question, by means of various primary and secondary sources. The scope of the report and the elements contained in the same with respect to the growth spectrum of the Beverage Refrigeration has been discussed in the study. Also mentioned in the document are details pertaining to the financial data of the companies profiled in the report, in addition to the currently prevalent price trends of the Beverage Refrigeration.

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North America, the extensive growth of beverage refrigeration market is quite vivid across APAC belt. Increased packaged drink consumption is deemed to be the preliminary drive stimulating the regional market outlook. As per a recent statistic, global consumption of packaged drink in the year 2016 was approximately 1.05 trillion liters, of which China alone accounted for almost 178.6 billion liters. The figure itself is a testament of the humongous business opportunities that APAC industry holds for the investors in the coming years. Procuring almost 20% of the overall beverage refrigeration industry share in 2016, it is anticipated that the region will cover a major chunk of the global business landscape by 2024. Moreover, with a population coverage of almost 60% of the global count, experts believe that APAC will certainly witness an upper hand in the overall beverage refrigeration industry over 2017-2024.

As far as the competitive profiling is concerned, beverage refrigeration market is highly fragmented in nature and is still at its initial stages of development. Some of the prominent players involved in the industry include Electrolux, Dover Corporation, Whirlpool Corporation, Daikin Industries, Coca-cola, KingsBottle, HABCO, Danfoss, Liebherr, Kenmore, and General Electrics. 

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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