South Korea Commercial Food And Biomedical Refrigerators & Freezers Market Size & Outlook
South Korea commercial food and biomedical refrigerators & freezers market, 2018-2030 (US$M)
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South Korea commercial food and biomedical refrigerators & freezers market highlights
- The South Korea commercial food and biomedical refrigerators & freezers market generated a revenue of USD 1,197.6 million in 2023 and is expected to reach USD 1,942.9 million by 2030.
- The South Korea market is expected to grow at a CAGR of 7.2% from 2024 to 2030.
- In terms of segment, food sector was the largest revenue generating offering in 2023.
- Food Sector is the most lucrative offering segment registering the fastest growth during the forecast period.
Commercial food and biomedical refrigerators & freezers market data book summary
| Market revenue in 2023 | USD 1,197.6 million |
| Market revenue in 2030 | USD 1,942.9 million |
| Growth rate | 7.2% (CAGR from 2023 to 2030) |
| Largest segment | Food sector |
| Fastest growing segment | Food Sector |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Food Sector, Biomedical Sector |
| Key market players worldwide | Angelantoni Life Science, Blue Star, Eppendorf, Haier Biomedical, Helmer Scientific, Liebherr Group, Nuaire, PHC Holdings Corp, Terumo Corp, Thermo Fisher Scientific Inc |
Other key industry trends
- In terms of revenue, South Korea accounted for 3.3% of the global commercial food and biomedical refrigerators & freezers market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China commercial food and biomedical refrigerators & freezers market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 1,921.3 million by 2030.
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Commercial Food and Biomedical Refrigerators & Freezers Market Scope
Commercial Food and Biomedical Refrigerators & Freezers Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea commercial food and biomedical refrigerators & freezers market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to commercial food and biomedical refrigerators & freezers market will help companies and investors design strategic landscapes.
Food sector was the largest segment with a revenue share of 66.62% in 2023. Horizon Databook has segmented the South Korea commercial food and biomedical refrigerators & freezers market based on food sector, biomedical sector covering the revenue growth of each sub-segment from 2018 to 2030.
The country's advanced healthcare system and growing biotechnology sector are boosting the demand for biomedical refrigeration equipment. South Korea's thriving food service industry, including its popular barbecue restaurants and street food culture, is a significant driver of market growth.
The country's focus on technological innovation is encouraging the development of smart, energy-efficient refrigeration systems. South Korea's strong electronics industry is contributing to advancements in refrigeration technology.
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Target buyers of South Korea commercial food and biomedical refrigerators & freezers market databook
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Our clientele includes a mix of commercial food and biomedical refrigerators & freezers market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the South Korea commercial food and biomedical refrigerators & freezers market , including forecasts for subscribers. This country databook contains high-level insights into South Korea commercial food and biomedical refrigerators & freezers market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea commercial food and biomedical refrigerators & freezers market size, by offering, 2018-2030 (US$M)
South Korea Commercial Food and Biomedical Refrigerators & Freezers Market Outlook Share, 2023 & 2030 (US$M)
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