Growth in Organized Retail to Boost the Global Ice Maker Market Through 2021, Says Technavio

Technavio has published a new report on the global ice maker market from 2017-2021. (Graphic: Business Wire)

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LONDON--()--According to the latest market study released by Technavio, the global ice maker market is expected to grow at a CAGR of more than 8% during the forecast period.

This research report titled ‘Global Ice Maker Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.

According to Manu Gupta, a lead analyst at Technavio for home, kitchen and large appliances research, “The market is mainly driven by the increasing requirement for ice makers in healthcare and foodservice establishments around the world. The increasing demand for cold and blended beverages and continuous expansion of foodservice establishments around the world increases the scope for sale of new units of ice makers.”

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The market research analysis categorizes the global ice maker market into three major product segments. They are:

  • Ice cube
  • Ice flake
  • Ice nugget

Ice cube maker

Ice cube makers are mostly popular in the foodservice industry, where customers are served cold beverages. Cold beverages such as carbonated drinks, alcoholic beverages, and juices are served in bars, QSRs, FSRs, and hotels. The ice cube makers make various sizes of ice cubes, which includes full cubes, half cubes, and regular cubes. These ice cubes melt very slowly, and therefore, the users can significantly reduce the ice consumption.

APAC is one of the key markets for ice cube makers, as a massive expansion of restaurants, juice bars, and hotels is taking place in the region. For instance, McCafé, a subsidiary of McDonald’s, which also provides various frozen beverages and smoothies is expected to open over 70 new restaurants in India in 2017. Similarly, in June 2015, Jamba Juice announced that it will open more than 70 stores in Indonesia in the next 10 years.

The ice cube maker vendors provide both countertop ice machine and floor model ice cube makers with different sizes. For instance, Manitowoc Ice and Ice-O-Matic provide full, half, and regular cube sized ice makers.

Ice flake makers

The ice flake makers are used to make small and soft flakes of ice, which tend to cool rapidly. These ice flakes are significantly used by the supermarkets, hypermarkets, convenience stores, and butcher shops to display the fresh meat, seafood, and fish. These ice flakes are easy to mold into any shape and are used by foodservice establishments to serve salad and blended drinks. The demand for flake ice machines is growing due to the constant rise in the number of retail stores across the world.

“In the healthcare industry, ice flake makers are used by hospitals, for storing organs. As flake ice is free flowing and does not melt easily, it is suitable for storing organs and other materials for long periods,” says Manu.

Ice nugget makers

The ice nugget makers are largely used by foodservice establishments, which serve blended beverages such as smoothies, juices, and shakes. The ice nuggets are used in these establishments as they are easier to chew as compared to ice cubes, and they melt slowly.

Increasing demand for blended beverages has helped foodservice establishments expand around the globe by adding more number of outlets and stores. This will positively impact the sale of new ice flake makers around the world. Some of the key vendors that provide ice nugget makers are Manitowoc Ice, Follett, and Scotsman Ice Machines.

The top vendors highlighted by Technavio’s market research analysts in this report are:

  • Hoshizaki
  • Ice-O-Matic
  • Manitowoc Ice
  • Scotsman Ice Machines

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

According to the latest market study released by Technavio, the global ice maker market is expected to grow at a CAGR of more than 8% during the forecast period.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com