Enhances Investment in Research & Development of Ice Makers Boosts the Global Ice Maker Market Growth

It is projected that the Global Ice Maker Market will grow at a CAGR of around 4.5% from 2023 to 2028. The expansion of the industry attributed to the surging need for ice in several end-users such as quick and full service restaurant, breakrooms, hotels, convenience stores, etc.

Additionally, several market players that are actively in the manufacturing and selling of ice makers have enhances their focus on the research and development of the equipment to develop highly energy-efficient and application-specific ice makers. These ice maker permits the manufacturing of ice specific applications such as ice-cubes for crushed ice for blended drinks, cocktails, and smoothies. These investments in forming the ice makers with distinctive designs, features, or functionalities that address particular market niches aim to achieve a competitive edge and might result in the rise of the market share.

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Thus, these developments would focus on improving the whole user experience, and enhancing the growth of the ice cube industry in the coming years.

Rapid Requirement of Ice Maker Machine to Store Perishable Items in Large Fast Food Chains Propels the Ice Market Growth Worldwide

The rising need for ice makers to store perishable goods effectively in large food chain market is trending in the global market. These machines play an essential role in maintaining food safety, managing inventory efficiently, extending shelf life, and ensuring the standard of a brand. Moreover, an on-site ice maker offers convenience and cost-saving for large fast-food chains. It eliminates the requirement to purchase packaged ice from external suppliers, reducing expenses and potential supply chain disruption.

Hence, ice maker offers a controlled and consistent source of ice for food storage and refrigeration, helping fast food chain adhere to food safety regulations and minimize the risk of spoilage.

Ice Cube Segment Holds a Prominent Share in the Global Ice Cube Maker Market

Bases on type of ice maker, the market is divided into two main segments. These segments are:

  • Ice Cube Makers
  • Ice Flake Makers

Among these, the Ice Cube Makers dominates the industry with a maximum share in the Global Ice Maker Market owing to their high demand across several industries such as bars, restaurants, hospitals, convenience stores, hotels, etc. These sectors have been requiring ice cubes for serving chilled drinks, keeping perishable item fresh, and meeting the requirement of guests and customers.

The surge in the hospitality sector due to the growth of tourism industry has been one of the key reason behind the growth of the ice cubes. Therefore, the rising market sales of ice cube makers would contribute to improve the ice maker market size in the upcoming years.

Top Market Participants in the Global Ice Maker Industry

According to the latest report on Ice Maker Market by MarkNtel Advisors, the leading players of the industry are:

  • Cornelius, Inc.
  • Direct Catering Products Ltd.
  • Hoshizaki Corporation
  • Howe Corporation
  • ITV Ice Makers
  • Guangzhou Icesource Co., Ltd.
  • The Middleby Corporation
  • North Star Ice Equipment
  • Festivo-Porkka Group
  • NewAir, LLC
  • Marel
  • Manitowoc Ice
  • Scotsman Ice Systems
  • Whynter LLC
  • Ice-o-Matic

North America Leads the Global Ice Maker Market with Maximum Market Share

Geographically, the Global Ice Maker Market extends across the following regions

  • North America
  • South America
  • Europe
  • Middle East & Africa
  • Asia-Pacific

Out of all these regions, the North America observed a substantial growth in the industry over past few years. It has been mainly attributed to their rising demand across a wide range of industries such as food and beverages, hospitality, residential applications, and healthcare.

In addition, the presence of major market participants with high investments in technological progress and innovation also supported the growth of the industry. To improve the effectiveness, performance and features of ice makers in the North American region, manufacturers make notable investments in research & development, which would help in maintaining their position in the market in the forthcoming years.

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