Global Commercial Food and Biomedical Refrigerators and Freezers Market Size To Worth USD 61.6 Billion By 2033 | CAGR Of 5.61%

Global Commercial Food and Biomedical Refrigerators and Freezers Market Size To Worth USD 61.6 Billion By 2033

According to a research report published by Spherical Insights & Consulting, The Global Commercial Food and Biomedical Refrigerators and Freezers Market Size is Expected to Grow from USD 35.69 Billion in 2023 to USD 61.6 Billion by 2033, at a CAGR of 5.61% during the forecast period 2023-2033.

Browse key industry insights spread across 240 pages with 110 Market data tables and figures & charts from the report on the "Global Commercial Food and Biomedical Refrigerators and Freezers Market Size, Share, and COVID-19 Impact Analysis, By Capacity (Small (Up to 50 Liters), Medium (51 to 300 Liters), and Large (Above 300 Liters)), By Distribution Channel (Distributors and Wholesalers, and Retailers), By End Use (Hospitality, Food & Beverage Retail, Healthcare & Lifesciences, Pharmaceuticals, Chemicals, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033." Get Detailed Report Description Here : https://www.sphericalinsights.com/reports/commercial-food-and-biomedical-refrigerators-and-freezers-market

There are commercial freezers and fridges designed for spaces located in the busiest parts of establishment, such as kitchens where doors open constantly to keep precious food cold. Biomedical refrigerators and freezers are medical equipment used to store various biological samples whether they are blood, vaccines, or just general tissues, and DNA. As long as the samples are handled properly, they should be safe during storage. The development of hospitals, clinics, and research institutions in conjunction with the rise in government funding as well as public/private financing will bolster demand for biomedical freezers & refrigerators used to frigid medical supplies. The demand in the market is also expected to skyrocket because of personalized medicine, which individualizes treatment according to a patient. Powered by this demand are biomedical storage freezers that operate at cryogenic-level temperatures for the preservation of biological samples such as tissue and genetic material. Regarding the commercial food and biomedical refrigerators and freezers, they should continually be at certain temperature and correct cold chain preservation to ensure the quality freshness and safety of the perishable products. These types of refrigeration units are of special significance in the preservation of medicinal compounds, vaccines, temperature-sensitive samples, and other biological products in the biomedical industry. The disadvantage of using commercial food and biomedical refrigerators and freezers is that they are expensive to acquire and install for use because of their initial costs of purchase and establishing them including the costs incurred in the provision of energy and maintenance costs in the future. They have also pressed on the design frontier to limit manufacturer abilities to design simultaneously for economy and energy friendliness as regards friendly environment refrigerants.

The medium (51 to 300 liters) segment is predicted to hold the largest market share through the forecast period.

Based on the capacity, the commercial food and biomedical refrigerators and freezers market is classified small (up to 50 liters), medium (51 to 300 liters), and large (above 300 liters). Among these, the medium (51 to 300 liters) segment is predicted to hold the largest market share through the forecast period. Self-contained refrigeration equipment with storage capacity between 51 and 300 liters is expected to generate most of the industry revenue since it meets most commercial food service and biomedical requirements. The mid-sized sector of storage centers can become the embodiment of the perfect ratio between occupying a small area that is significant to companies with limited space and the ability to provide as much storage as needed for such companies as pharmacy, convenience shops, and research laboratories.

The retailers segment is anticipated to hold the highest market share during the projected timeframe.

Based on the distribution channel, the commercial food and biomedical refrigerators and freezers market is divided into distributors and wholesalers, and retailers. Among these, the retailers segment is anticipated to hold the highest market share during the projected timeframe. Since the retailers have to conform to certain legal regulations concerning issues of food handling, then they are inevitably forced to acquire a lot of costs on efficient, high quality, and specialty refrigeration systems for purposes of cooling and preserving the merchandise. Slim and energy-efficient commercial refrigerator equipment that does not consume selling floor space is still popular because customers increasingly choose a number of individual concept stores and an improvement for home delivery services of groceries.

The food & beverage retail segment is expected to dominate the global commercial food and biomedical refrigerators and freezers market during the forecast period.

Based on the end use, the commercial food and biomedical refrigerators and freezers market is divided into hospitality, food & beverage retail, healthcare & lifesciences, pharmaceuticals, chemicals, and others. Among these, the food & beverage retail segment is expected to dominate the global commercial food and biomedical refrigerators and freezers market during the forecast period. The food and beverage retail segment is likely to portray a considerably high uptake of commercial refrigerators and freezers, since grocery shops, supermarkets, convenience stores, and other types of retail outlets selling perishable goods are likely to register a leading revenue share by end.

North America is estimated to hold the largest share of the commercial food and biomedical refrigerators and freezers market over the forecast period.

North America is estimated to hold the largest share of the commercial food and biomedical refrigerators and freezers market over the forecast period. This may be a result from highly developed food service and healthcare industries in the region, a strict regulatory framework controlling both food safety and cold chain storage, and large manufacturers and other industry players. It is the sophisticated infrastructure, wide adoption of energy-saving technologies, and growing demand for fresh and high-end foods that continue to fuel demand for new and reliable commercial refrigeration equipment in North America.

Asia Pacific is expected to grow the fastest during the forecast period. This is driven by several key factors. With growth in the middle class, increased disposable incomes, and demand for fresh and quality foods, this brings about increased demand for good cold storage facilities. This increase in demand comes as a result of the rapidly growing food service and retail industries, more specifically in countries like China, India, and Japan. Moreover, the fast-growing biotechnology and pharmaceutical sectors in this region create a further demand for the latest biomedical refrigeration equipment to facilitate drug discovery, medical research, and healthcare delivery.

Major key players in the commercial food and biomedical refrigerators and freezers market include Arctiko, KW Apparecchi Scientifici srl, Aegis Scientific Inc., Angelantoni Life Science, B Medical Systems India Private Limited, Biomedical Solutions Inc (BSI), Blue Star Limited; Eppendorf AG, Fiocchetti Scientific S.R.L., Froilabo SAS, Gram Scientific ApS (Gram BioLine), Haier Biomedical, Helmer Scientific Inc., IC Biomedical, LLC., Jeio Tech Co., Ltd., KW Apparecchi Scientifici srl, LabRepCo, LIEBHERR Group, NuAire, Inc., PHC Corporations, Philips Kirsch GmbH, Terumo Corporation, Thermofisher Scientific Inc., Vestfrost Solutions (A/S Vestfrost), Zhongke Meiling Cryogenics Co., Ltd., and Others.

Recent Developments

• In August 2024, AoFrio® launched market-leading solution for the reduction of commercial refrigeration energy use and carbon emissions.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the commercial food and biomedical refrigerators and freezers market based on the below-mentioned segments:

Global Commercial Food and Biomedical Refrigerators and Freezers Market, By Capacity

• Small (up to 50 Liters)
• Medium (51 to 300 Liters)
• Large (Above 300 Liters)

Global Commercial Food and Biomedical Refrigerators and Freezers Market, By Distribution Channel

• Distributors and Wholesalers
• Retailers

Global Commercial Food and Biomedical Refrigerators and Freezers Market, By End Use

• Hospitality
• Food & Beverage Retail
• Healthcare & Lifesciences
• Pharmaceuticals
• Chemicals
• Others

Global Commercial Food and Biomedical Refrigerators and Freezers Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa

About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements. 

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