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Global Freezer Market Report
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Global Freezer Market Report

Home Consumer Goods And Retail Global Freezer Market Report

Global Freezer Market, By Product Type (Chest Freezers, Upright Freezers); By Capacity (200L & Below, 200L-300L, 300L-500, 500L & above); By Application (Residential, Commercial, Industrial); By Door Product (1 Door, 2 Doors, 3 Doors, 4 Doors); By Region (North America, Europe, Asia-Pacific, South America, Middle East, and Africa) Trend Analysis, Competitive Market Share & Forecast, 2017-2027

  • Published Date: May 2021
  • Report ID: BWC20364
  • Available Format: PDF
  • Page: 154

Report Overview

The global freezer market was worth USD 13.7 billion in 2020 and is further projected to reach USD 17.8 billion by 2027, at a CAGR of 3.8% during the forecast period (2021-2027).

Global Freezer Market- Industry Trends & Forecast Report 2027

 

The global freezer market was worth USD 13.7 billion in 2020 and is further projected to reach USD 17.8 billion by 2027, at a CAGR of 3.8% during the forecast period (2021-2027). Increased investments in refrigerator unit innovation, as well as the opening of new restaurants and supermarkets, can all be attributed to the development. The global freezer market is also expected to grow as consumers become more aware of energy-efficient electronic goods and as their income levels rise, resulting in increased purchasing power of consumers. Furthermore, the availability of a variety of funding solutions is fuelling the market. Additionally. growing consumer preference for big brands is also expected to fuel the growth of the global freezer market in the coming years.

 

Source: Blue Weave Consulting

 

Global Freezer Market Overview

A refrigerator is a domestic/industrial appliance that consists of a space heated with hot air and a heat pump (mechanical, electric, or chemical) that transfers heat from the inside to the outside so that the interior cools to a temperature below room temperature. In developed countries, freezing is a popular method of storing food. The refrigerator substituted the icebox, which had been a popular household item for nearly a century and a half. A freezer is a cold storage space where food items such as fish, ice cream, milk, meat, fruits, water, vegetables, etc., can be stored at a low temperature for a longer period of time to protect them from mold, bacteria, and rot. 

 

Global Freezer Market Trend

 

Growth Drivers

 

Increasing Number of Restaurants and Supermarket

 

The global freezer market is experiencing rapid growth as more restaurants and supermarkets open their doors around the world. It is also because of their need for large storage facilities for vegetables, meat, and other packaged food products. For example, according to a New York Times report, Amazon is considering launching a new grocery chain that would be distinct from the Whole Foods that it purchased in 2017. Furthermore, customer-centric programs such as in-store pop-ups, events, and cooking courses are attracting more consumers and eventually increasing their sales, resulting in high demand for large cold storage facilities in this market.

 

Urbanization is expected to drive the global freezer market 

Following the extensive urbanization that is taking place around the world, people are flocking to upper-tier cities in search of work and to improve their standard of living. As a result, a great need for new innovative home appliances has been observed. In a report, the UN predicted that 68% of the world population will live in urban areas by 2050. Additionally, refrigerator sales have increased due to the availability of convenient delivery channels such as the online and offline mode where consumers can purchase the product of their choice in their desired manner. According to a 2020 report, approximately 200 million refrigerators are sold worldwide each year, generating more than $100 billion in revenue.

 

Global Freezer Market Restraints

 

Negative Impact on the Environment

 

The main concern with the use of freezers is that they negatively impact our environment. They use a lot of energy and emit a lot of CO2, which causes the Green House Effect, and ozone depletion. This is the main impediment to the market's growth. However, several market players are also developing new models to mitigate the negative impact on the environment.  Also, limiting the use of old refrigerators and regular servicing can reduce harmful emissions up to some extent, thereby reducing the environmental pollution.

 

Impact of COVID-19 on the Global Freezer Market

 

The COVID-19 pandemic has created havoc across industries around the globe. Due to the high infection rates and severe impact on public health systems, various countries had to enforce nationwide lockdowns, which significantly impacted industrial supply chains, trade, and related services. Like many other industries, the global freezer market has also been affected negatively. Walk-in sales of different types of refrigerators and freezers have gone down due to nationwide lockdowns and curfews imposed by the governments of different countries across the world.

 

Global Freezer Market by Product Type

 

Based on the product type the global freezer market is divided into two categories namely chest freezers and upright freezers. A chest freezer is the most cost-effective freezer and is commonly used in large storage facilities such as supermarkets and restaurants. An upright freezer, on the other hand, is often used for domestic purposes and is very costly as opposed to the former. Because of rising preference for packed food & beverages, and the need for their cold storage in commercial & industrial sector, chest freezer segment dominates the market. Additionally, chest freezer segment also depicts a faster growth than upright freezer due to its cost effectivity and fast expansion of food & beverage industry.

 

 

Global Freezer Market by Capacity

 

Based on the category, the global freezer market is divided into four main categories— 200L & Below, 200L-300L, 300L-500, 500L & Above. Different types are used for different purposes. In general, both categories, 200L & Below and 200L-300L, are very common for domestic purposes, and it also depends on the number of family members. Thus, freezers of 200L-300L have the largest market share and are also growing at the fastest rate due to their compact size and affordable price.

 

Global Freezer Market by Application

 

Based on the application type, the global freezer market is divided into three segments— Residential, Commercial, and Industrial. Out of these, the residential application segment is dominating the market by holding the largest market share. The most important factor in the residential application segment is the dynamic change in people's lifestyles and food consumption patterns, which is causing more customers to turn to ready-to-eat food. Thus, the residential application segment is expanding at the fastest rate.

 

Global Freezer Market by Door Product

 

Based on the door product type, the global freezer market is fragmented into 1 Door, 2 Doors, 3 Doors, and 4 Doors. Among these, 2-door products account for the largest market shares due to their affordable prices, and energy efficiency. Additionally, multi-door freezers are also gaining popularity across the globe. Multiple-door refrigerators have the bottom area dedicated to the freezer. Increasing nuclear families, the rising trend of stocking groceries in the case of large families, and increasing usage of preserved food products are expected to contribute to the growth of the segment.

 

Global Freezer Market: Regional Insights

 

Based on regions, the global freezer market is segmented into North America, Europe, Asia-Pacific, South America, Middle East, and Africa. Out of these regions, Asia-Pacific owns the largest market share due to the presence of a large population. Infrastructural demands are also high in this region. Additionally, growing urbanization and rising demand for switching from conventional to smart appliances help to fuel the industry. Additionally, growing urbanization and rising demand for shifting from conventional to smart appliances are boosting the market. Both India and China are expected to grow at the highest pace during the forecast period due to high infrastructural demand and increasing urbanization. 

 

Also, Europe is projected to expand at the fastest pace in terms of the implementation of technologically advanced refrigeration products by well-established regional companies.

 

Global Freezer Market Competitive Landscape

 

The global freezer market is highly fragmented, with several key players and a diverse range of products. Manufacturers are continually focusing on launching high-energy-efficient products as well as advertising campaigns to increase consumer brand awareness. This is expected to drive the global freezer market.

Some of the key players in the market are AB Electrolux, Liebherr Group, Beverage-Air Corporation, Brandt France, BSH Household Appliances Manufacturing Pvt. Ltd., DAIHAN Scientific Co., Panasonic Corporation, Thermo Fisher Scientific, Ltd., Haier Group, Hengel Industries, Hitachi Ltd., LG Electronics Inc., Inc., Whirlpool Corporation, and other prominent players.

 

 

Global Freezer Market Recent Developments

 

  • In May 2021, Samsung revealed its new AI-powered & IoT-enabled Bespoke refrigerator with 'Family Hub' functions. The refrigerator comes with a huge display and app-controlled functions like automatic food recognition and customize diet recommendations, and food list generation.

 

  • In February 2021, Panasonic India expanded its Miraie products' portfolio by launching IoT-enabled appliances powered by app & voice control. It includes washing machines, Wi-Fi fan, connected refrigerators, smart digital switches and Wi-Fi controller plugs.

 

Scope of the Report:

 

 

Attribute Details
Years Considered Historical data – 2017-2020
Base Year – 2020
Forecast – 2021 – 2027
Facts Covered Revenue in USD Billion
Market Coverage The U.S., Canada, Germany, Italy, U.K., France, Spain, Rest of Europe, Japan, China, India, South Korea, Australia, Rest of Asia-Pacific
Product/Service Segmentation By product type, door product, application, and region
Key Players AB Electrolux, Beverage-Air Corporation, Brandt France, BSH Household Appliances Manufacturing Pvt. Ltd., DAIHAN Scientific Co., Ltd., Haier Group, Hengel Industries, Hitachi Ltd., LG Electronics Inc., Liebherr Group, Panasonic Corporation, Thermo Fisher Scientific, Inc., Whirlpool Corporation, and other prominent players

 

 

By Product Type

  • Chest Freezers
  • Upright Freezers

By Capacity

  • 200L & Below
  • 200L-300L
  • 300L-500
  • 500L & Above

By Application

  • Residential
  • Commercial
  • Industrial

By Door Product

  • 1 Door
  • 2 Doors
  • 3 Doors
  • 4 Doors

By Region

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • The Middle East and Africa

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Research Methodology
    1. Qualitative Research
      1. Primary & Secondary Research
    2. Quantitative Research
    3. Market Breakdown & Data Triangulation
      1. Primary & Secondary Research Application
      2. Secondary Research
      3. Primary Research
    4. Breakdown of Primary Research Respondents, By Region
    5. Assumption & Limitation
  3. Executive Summary
  4. Global Freezer Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
    3. Recent Development/Technological Advancements
    4. Porter’s Five Forces Analysis
      1. Bargaining Application of Suppliers
      2. Bargaining Application of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  5. Global Freezer Market Overview
    1. Market Size & Forecast, 2017-2027
      1. By Value (USD Million)
      2. By Volume (Million Units)
    2. Market Share & Forecast
      1. By Product Type
        1. Chest Freezers
        2. Upright Freezers
      2. By Capacity
        1. 200L & Below
        2. 200L-300L
  6. 300L-500
        1. 500L & Above
      2. By Application
        1. Residential
        2. Commercial
        3. Industrial
      3. By Door Product
        1. 1 Door
        2. 2 Doors
        3. 3 Doors
        4. 4 Doors
      4. By Region
        1. North America
        2. Europe
        3. The Asia-Pacific
        4. South America
        5. The Middle East and Africa

 

  1. North America Freezer Market
    1. Market Size & Forecast, 2017-2027
      1. By Value (USD Million)
      2. By Volume (Million Units)
    2. Market Share & Forecast
      1. By Product Type
      2. By Capacity
      3. By Application
      4. By Door Product
      5. By Country
        1. U.S.
        2. Canada

 

  1. Europe Freezer Market
    1. Market Size & Forecast, 2017-2027
      1. By Value (USD Million)
      2. By Volume (Million Units)
    2. Market Share & Forecast
      1. By Product Type
      2. By Capacity
      3. By Application
      4. By Door Product
      5. By Country
        1. Germany
        2. Italy
        3. U.K.
        4. France
        5. Spain
        6. Rest of Europe

 

 

  1. Asia-Pacific Freezer Market
    1. Market Size & Forecast, 2017-2027
      1. By Value (USD Million)
      2. By Volume (Million Units)
    2. Market Share & Forecast
      1. By Product Type
      2. By Capacity
      3. By Application
      4. By Door Product
      5. By Country
        1. Japan
        2. China
        3. India
        4. South Korea
        5. Australia
        6. Rest of Asia-Pacific
  2. Latin America Freezer Market
    1. Market Size & Forecast, 2017-2027
      1. By Value (USD Million)
      2. By Volume (Million Units)
    2. Market Share & Forecast
      1. By Product Type
      2. By Capacity
      3. By Application
      4. By Door Product
      5. By Country
        1. Brazil
        2. Mexico
        3. Rest of South America

 

  1. Middle East and Africa Freezer Market
    1. Market Size & Forecast, 2017-2027
      1. By Value (USD Million)
      2. By Volume (Million Units)
    2. Market Share & Forecast
      1. By Product Type
      2. By Capacity
      3. By Application
      4. By Door Product
      5. By Country
        1. UAE
        2. Saudi Arabia
        3. South Africa
        4. Rest of Middle East and Africa
  2. Competitive Landscape
    1. Company Market Share Analysis, 2020
    2. Competitive Benchmarking, By Product Offerings
    3. List of Key Players and their Offerings
  3. Impact of Covid-19 across Industry
  4. Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
    1. Daihan Scientific
    2. ThermoFisher Scientific
    3. Haier Group Corporation
    4. AB Electrolux
    5. Hitachi Ltd
    6. LG Electronics
    7. Liebherr Group
    8. Siemens Home Appliance
    9. Beverage-Air Corporation
    10. Brandt Electric
  5. Key Strategic Recommendations

 

*Financial details of unlisted companies will be available as per data availability in final deliverable

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

 

 

List of Figures

 

Fig: Global Freezer Segmentation

 

Fig: Global Freezer Market Value Chain Analysis

 

Fig: Company Market Share Analysis, 2020

 

Fig: Global Freezer Market Size, By Value (USD Million), 2017-2027

 

Fig: Global Freezer Market Size, By Volume (Million Units), 2017-2027

 

Fig: Global Freezer Market Share (%), By Product type, By Value, 2017-2027

 

Fig: Global Freezer Market Share (%), By Product type, By Volume, 2017-2027

 

Fig: Global Freezer Market Share (%), By Capacity, By Value, 2017-2027

 

Fig: Global Freezer Market Share (%), By Application, By Value, 2017-2027

 

Fig: Global Freezer Market Share (%), By Door type, By Value, 2017-2027

Fig: Global Freezer Market Share (%), By Country, By Value, 2017-2027

Fig: North America Market Size, By Value (USD Million), 2017-2027

Fig: North America Market Size, By Volume (Million Units), 2017-2027

Fig: North America Market Share (%), By Product type, By Value, 2017-2027

Fig: North America Market Share (%), By Product type, By Volume, 2017-2027

Fig: North America Market Share (%), By Capacity, By Value, 2017-2027

Fig: North America Market Share (%), By Application, By Value, 2017-2027

Fig: North America Market Share (%), By Door type, By Value, 2017-2027

Fig: North America Market Share (%), By Country, By Value, 2017-2027

Fig: Europe Market Size, By Value (USD Million), 2017-2027

Fig: Europe Market Size, By Volume (Million Units), 2017-2027

Fig: Europe Market Share (%), By Product type, By Value, 2017-2027

Fig: Europe Market Share (%), By Product type, By Volume, 2017-2027

Fig: Europe Market Share (%), By Capacity, By Value, 2017-2027

Fig: Europe Market Share (%), By Application, By Value, 2017-2027

Fig: Europe Market Share (%), By Door type, By Value, 2017-2027

Fig: Europe Market Share (%), By Country, By Value, 2017-2027

Fig: the Asia-Pacific Market Size, By Value (USD Million), 2017-2027

Fig: the Asia-Pacific Market Size, By Volume (Million Units), 2017-2027

Fig: the Asia-Pacific Market Share (%), By Product type, By Value, 2017-2027

Fig: the Asia-Pacific Market Share (%), By Product type, By Volume, 2017-2027

Fig: the Asia-Pacific Market Share (%), By Capacity, By Value, 2017-2027

Fig: the Asia-Pacific Market Share (%), By Application, By Value, 2017-2027

Fig: the Asia-Pacific Market Share (%), By Door type, By Value, 2017-2027

Fig: the Asia-Pacific Market Share (%), By Country, By Value, 2017-2027

Fig: Latin America Market Size, By Value (USD Million), 2017-2027

Fig: Latin America Market Size, By Volume (Million Units), 2017-2027

Fig: Latin America Market Share (%), By Product type, By Value, 2017-2027

Fig: Latin America Market Share (%), By Product type, By Volume, 2017-2027

Fig: Latin America Market Share (%), By Capacity, By Value, 2017-2027

Fig: Latin America Market Share (%), By Application, By Value, 2017-2027

Fig: Latin America Market Share (%), By Door type, By Value, 2017-2027

Fig: Latin America Market Share (%), By Country, By Value, 2017-2027

Fig: the Middle East & Africa Market Size, By Value (USD Million), 2017-2027

Fig: the Middle East & Africa Market Size, By Volume (Million Units), 2017-2027

Fig: the Middle East & Africa Market Share (%), By Product type, By Value, 2017-2027

Fig: the Middle East & Africa Market Share (%), By Product type, By Volume, 2017-2027

Fig: the Middle East & Africa Market Share (%), By Capacity, By Value, 2017-2027

Fig: the Middle East & Africa Market Share (%), By Application, By Value, 2017-2027

Fig: the Middle East & Africa Market Share (%), By Door type, By Value, 2017-2027

Fig: the Middle East & Africa Market Share (%), By Country, By Value, 2017-2027

 

List of Tables

 

Table: North America Freezer Market Size, By Product Type, By Value (USD Million), 2017-2027

Table: North America Freezer Market Size, By Product Type, By Volume (Million Units), 2017-2027

Table: North America Freezer Market Size, By Capacity, By Value (USD Million), 2017-2027

Table: North America Freezer Market Size, By Application, By Value (USD Million), 2017-2027

Table: North America Freezer Market Size, By Door Type, By Value (USD Million), 2017-2027

Table: Europe Freezer Market size, By Product Type, By Value (USD Million), 2017-2027

Table: Europe Freezer Market Size, By Product Type, By Volume (Million Units), 2017-2027

Table: Europe Freezer Market Size, By Capacity, By Value (USD Million), 2017-2027

Table: Europe Freezer Market size, By Application, By Value (USD Million), 2017-2027

Table: Europe Freezer Market Size, By Door Type, By Value (USD Million), 2017-2027

Table: Europe Freezer Market Size, By Application Type, By Value (USD Million), 2017-2027

Table: Europe Freezer Market Size, By Coating Type, By Value (USD Million), 2017-2027

Table: the Asia-Pacific Freezer Market Size, By Product Type, By Value (USD Million), 2017-2027

Table: the Asia-Pacific Freezer Market Size, By Product Type, By Volume (Million Units), 2017-2027

Table: the Asia-Pacific Freezer Market Size, By Capacity, By Value (USD Million), 2017-2027

Table: the Asia-Pacific Freezer Market Size, By Application, By Value (USD Million), 2017-2027

Table: the Asia-Pacific Freezer Market Size, By Door Type, By Value (USD Million), 2017-2027

Table: Latin America Freezer Market size, By Product Type, By Value (USD Million), 2017-2027

Table: Latin America Freezer Market Size, By Product Type, By Volume (Million Units), 2017-2027

Table: Latin America Freezer Market size, By Capacity, By Value (USD Million), 2017-2027

Table: Latin America Freezer Market size, By Application, By Value (USD Million), 2017-2027

Table: Latin America Freezer Market size, By Door Type, By Value (USD Million), 2017-2027

Table: The Middle-East & Africa Freezer Market size, By Product Type, By Value (USD Million), 2017-2027

Table: The Middle-East & Africa Freezer Market Size, By Product Type, By Volume (Million Units), 2017-2027

Table: The Middle-East & Africa Freezer Market size, By Capacity, By Value (USD Million), 2017-2027

Table: The Middle-East & Africa Freezer Market size, By Application, By Value (USD Million), 2017-2027

Table: The Middle-East & Africa Freezer Market size, By Door Type, By Value (USD Million), 2017-2027

Table: Haier Group Corporation Financial Analysis

Table: Haier Group Corporation Business Overview

Table: Electrolux Financial Analysis

Table: Electrolux Business Overview

Table: Hitachi Electrolux Business Analysis

Table: Hitachi Duskiness Overview

Table: LG Electronics Financial Analysis

Table: LG Electronics Business Overview

Table: Liebherr Group Financial Analysis

Table: Liebherr Group Business Overview

Table: Siemens Home Appliance Financial Analysis

Table: Siemens Home Appliance Business Overview

Table: Beverage-Air Corporation Financial Analysis

Table: Beverage-Air Corporation Business Overview

Table: Brandt Electric Financial Analysis

Table: Brandt Electric Business Overview

 

Market Segmentation

 

By Product Type

  • Chest Freezers
  • Upright Freezers

By Capacity

  • 200L & Below
  • 200L-300L
  • 300L-500
  • 500L & Above

By Application

  • Residential
  • Commercial
  • Industrial

By Door Product

  • 1 Door
  • 2 Doors
  • 3 Doors
  • 4 Doors

By Region

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • The Middle East and Africa
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Frequently Asked Questions (FAQs):

Ans: The global freezer market reached USD 13.7 billion in 2020.
Ans: Increasing investments in innovation of refrigerators units, setting up of new restaurants and supermarkets. Growing awareness about the energy-efficient electronic product, rising income levels of the customers.
Ans: The key players operating in the global freezer market are AB Electrolux, Beverage-Air Corporation, Brandt France, LG Electronics Inc., Liebherr Group, Panasonic Corporation, BSH Household Appliances Manufacturing Pvt. Ltd., DAIHAN Scientific Co., Ltd., Haier Group, Hengel Industries, Hitachi Ltd., Thermo Fisher Scientific, Inc., Whirlpool Corporation, and other prominent players.
Ans: The residential application segment accounted for a larger revenue share and is likely to expand at a strong rate due to the increasing preference for ready-to-eat food.
Ans: Europe is expected to grow at the fastest rate in the global freezer market with the introduction of technologically advanced refrigeration products by well-established companies in the region.