Ice Maker Market

Ice Maker Market

Allied Market Research projects the global ice maker market to reach $2,784.2 million by 2027.

Despite challenges posed by the COVID-19 pandemic, long-term growth prospects remain positive, with manufacturers focusing on developing energy-efficient and water-saving ice maker solutions.”
— Allied Market Research

WILMINGTON,NEW CASTLE, DELAWARE, UNITED STATE, April 3, 2024 / -- According to the report titled "Ice Maker Market by Product Type and Application: Opportunity Analysis and Industry Forecast, 2021–2027" published by Allied Market Research, the global ice maker market exhibited the following key findings:

- Market Size: The global ice maker market was valued at $2,330.6 million in 2019.

- Projected Growth: It is projected to reach $2,784.2 million by 2027.

- Compound Annual Growth Rate (CAGR): The market is expected to grow at a CAGR of 4.4% from 2021 to 2027.

𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐨 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲

The ice maker market, also known as ice machines or ice generators, is poised for growth, primarily driven by high demand from the foodservice and food processing sectors. There is an increasing preference for energy-efficient and water-saving products, which is expected to further boost market growth during the forecast period.

However, the COVID-19 outbreak has had a significant impact on the ice maker market, resulting in hindrances to its growth. Movement restrictions, limited availability of workforce, and lockdown measures have led to challenges in providing maintenance and installation services. This, in turn, has affected overall production and product deliveries within the industry.

Despite these challenges, the long-term outlook for the ice maker market remains positive, with continued demand expected from the foodservice and food processing sectors. As restrictions ease and economic activities resume, the market is anticipated to recover and witness growth in the coming years. Additionally, manufacturers may focus on developing more energy-efficient and water-saving ice maker solutions to align with evolving consumer preferences and sustainability initiatives.

𝐅𝐚𝐜𝐭𝐨𝐫𝐬 𝐃𝐫𝐢𝐯𝐢𝐧𝐠 𝐈𝐜𝐞 𝐌𝐚𝐤𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡

The growth of the food service industry is expected to be a significant driver of market growth for ice makers. As the food service sector expands to meet the demands of an increasingly urbanized population, the need for ice makers in restaurants, cafes, hotels, and other food service establishments is expected to rise. Additionally, the rise in business-related travel and the surge in urban population contribute to the growth of the hospitality industry, further impacting the demand for ice makers in hotels, resorts, and catering services.

Changes in consumer preferences, disposable income, and lifestyle have also played a role in driving the sales of ice makers. With more consumers opting for quick-service restaurants and on-the-go dining options, the demand for ice makers in these establishments has increased. Quick-service restaurants rely heavily on ice for beverages and food presentation, making ice makers an essential component of their operations.

The combined factors of the expanding food service industry, growth in the hospitality sector, and changing consumer preferences are expected to drive market growth for ice makers in the coming years. As these industries continue to evolve and adapt to changing trends, the demand for ice makers is likely to remain strong.


Product Type Analysis:

- Modular Ice Maker: These are large-scale ice makers suitable for high-demand commercial settings such as restaurants, hotels, and large food processing facilities.

- Undercounter Ice Maker: Typically installed under countertops, these ice makers are commonly used in bars, restaurants, and cafes where space is limited.

- Countertop Ice Maker: Designed for easy access to ice, making them suitable for bars or counters. They are compact and convenient, often used in smaller-scale food service establishments.

- Ice Dispenser: These machines dispense ice automatically, making them convenient for self-service areas in hotels, hospitals, and convenience stores.

Application Analysis:

- Food Service: This includes restaurants, cafes, bars, hotels, and other establishments where ice is essential for food and beverage service.

- Food Processing: Ice is used in food processing for various purposes such as preserving food, chilling beverages, and maintaining product quality during transportation.

- Healthcare: Hospitals and healthcare facilities use ice for patient care, medical equipment cooling, and pharmaceutical storage.

- Retail Outlets: Ice is sold in bags or bulk to retail outlets such as supermarkets, convenience stores, and gas stations for consumer purchase.

- Others: This segment encompasses diverse applications including corporate offices, residential areas, and any other sectors not covered by the specific categories mentioned above. Corporate facilities often use ice makers in cafeterias, contributing to market growth.

The ice maker market is characterized by a variety of product types catering to different needs and applications across various industries. As the demand for ice continues to rise in food service, food processing, healthcare, and other sectors, the market is expected to witness growth, particularly in countertop ice makers and applications in corporate offices and residential areas.

The global ice maker market is analyzed across four major regions:

1. North America: This region includes countries such as the United States and Canada, where ice makers are widely used in various industries such as food service, hospitality, healthcare, and residential sectors.

2. Europe: Countries in Europe, including the United Kingdom, Germany, France, Italy, and Spain, have a significant market for ice makers, driven by the presence of numerous restaurants, cafes, hotels, and food processing facilities.

3. Asia-Pacific: This region encompasses countries like China, Japan, India, South Korea, and Australia, where rapid urbanization, economic growth, and changing lifestyles contribute to the increasing demand for ice makers across various sectors.

4. LAMEA (Latin America, Middle East, and Africa): This region includes countries from Latin America such as Brazil, Mexico, and Argentina, along with Middle Eastern and African countries. The market for ice makers in LAMEA is influenced by factors such as growing tourism, urbanization, and industrial development.

Analyzing the ice maker market across these regions provides insights into regional trends, demand patterns, regulatory environments, and market opportunities, enabling stakeholders to make informed decisions and develop effective strategies for market expansion and growth.

𝐓𝐚𝐥𝐤 𝐭𝐨 𝐨𝐮𝐫 𝐄𝐱𝐩𝐞𝐫𝐭

Based on the provided information, the key players operating in the ice maker market include:

1. Hoshizaki Corporation
2. Manitowoc Ice (WELBILT, INC.)
3. A & V Refrigeration Corp
4. Ali Group S.p.A.
5. Middleby Corporation
6. Cornelius, Inc.
7. Kold-Draft
8. North Star Ice Equipment Corporation
9. Whynter LLC
10. U.S. Ice Machine Mfg. Co.

These companies are prominent players in the ice maker market, contributing significantly to product innovation, market expansion, and overall industry growth. Their offerings cover a wide range of product types and end-use applications within the ice maker market, catering to the diverse needs of customers across various sectors such as food service, hospitality, healthcare, and retail.

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
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