At 2.9% CAGR, the Middle East & Africa commercial refrigeration market is projected to be worth US$ 1,529.28 million by 2030, says Business Market Insights

According to Business Market Insights research, the Middle East & Africa commercial refrigeration market was valued at US$ 1,216.85 in 2022 and is expected to reach US$ 1,529.28 million by 2030, registering a CAGR of 2.9% from 2022 to 2030. Growing demand for frozen and processed food is among the critical factors attributed to the Middle East & Africa commercial refrigeration market expansion.

The growing demand for frozen and processed food is a key driver propelling the expansion of the commercial refrigeration market. As consumer lifestyles evolve and urbanization rises, there is a notable shift in dietary habits towards convenience, leading to an increased reliance on frozen and processed food products. Commercial refrigeration system plays a pivotal role in preserving the quality and safety of these perishable items throughout the supply chain.

With a surge in supermarkets, hypermarkets, and convenience stores globally, the need for robust and energy-efficient refrigeration solutions has intensified. Commercial refrigeration ensures the extended shelf life of frozen and processed foods, reducing food waste and meeting the escalating demand for diverse food options. Further, many brands provide healthy and nutritious frozen food that is gluten-free, organic, low-carb, high-protein, and more.

Additionally, stringent regulations and standards regarding food safety and storage further drive the adoption of advanced commercial refrigeration systems. These systems not only maintain optimal temperature conditions but also incorporate features such as humidity control to preserve the freshness of perishable goods.

Thus, all the above benefits of frozen and processed food are raising its demand, driving the commercial refrigeration system for food service market.

On the contrary, high capital cost and maintenance challenges hampers the growth Middle East & Africa commercial refrigeration market.

Based on type, the Middle East & Africa commercial refrigeration market is segmented into refrigerators, freezer, heated cabinets, milk coolers, chef bases, full size undercounters, full size prep tables refrigerator and freezers, back bar, blast chillers, and others. The refrigerators segment held 30.5% market share in 2022, amassing US$ 371.33 million. It is projected to garner US$ 423.93 million by 2030 to expand at 1.7% CAGR during 2022-2030.

Based on application, the Middle East & Africa commercial refrigeration market is bifurcated into hospitality, and institutional. The hospitality segment held 60.9% share of the Middle East & Africa commercial refrigeration market in 2022, amassing US$ 740.98 million. It is projected to garner US$ 975.79 million by 2030 to expand at 3.5% CAGR during 2022-2030.

Based on door type, the Middle East & Africa commercial refrigeration market is segmented into single, dual, and multi. The dual segment held 53.3% share of Middle East & Africa commercial refrigeration market in 2022, amassing US$ 648.44 million. It is projected to garner US$ 895.98 million by 2030 to expand at 4.1% CAGR during 2022-2030.

Based on section type, the Middle East & Africa commercial refrigeration market is segmented into single, dual, and multi. The dual held 49.0% share of Middle East & Africa commercial refrigeration market in 2022, amassing US$ 596.56 million. It is projected to garner US$ 716.62 million by 2030 to expand at 2.3% CAGR during 2022-2030.

Based on country, the Middle East & Africa commercial refrigeration market is segmented into South Africa, UAE, Saudi Arabia, and the Rest of MEA. The UAE held 36.3% share of Middle East & Africa commercial refrigeration market in 2022, amassing US$ 441.84 million. It is projected to garner US$ 569.44 million by 2030 to expand at 3.2% CAGR during 2022-2030.

Key players operating in the Middle East & Africa commercial refrigeration market are Hoshizaki Corp, True Manufacturing Co Inc, Libherr USA Co, Turbo Air Inc, Haier Smart Home Co Ltd, and Daikin Industries, are among others.

• In May 2023, Hoshizaki Corp commenced sales of 68 models of commercial refrigerators and freezers that use natural refrigerants1 in late May 2023. The 44 refrigerator models and 24 freezer models were all in the value price range and will be sold through Hoshizaki's sales companies.

• In Aug 2021, Liebherr strengthened supply chain services with Encompass partnership. Under the agreement, Encompass managed the parts supply chain for Liebherr's home refrigeration line, which included the signature Monolith line of luxury freestanding refrigerators, column and under-counter units, commercial freezers, and wine storage - all customizable for small to large kitchens.
  
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