Commercial Food And Biomedical Refrigerators And Freezers Market To Reach $53.10 Billion By 2030

Commercial Food And Biomedical Refrigerators And Freezers Market Growth & Trends

The global commercial food and biomedical refrigerators and freezers market size is expected to reach USD 53.10 billion by 2030, registering a CAGR of 5.5% CAGR from 2024 to 2030, according to a new report by Grand View Research, Inc. The growing preference for convenience foods and processed items among consumers drives the demand for efficient commercial refrigeration solutions. Retailers, supermarkets, and food service businesses require advanced commercial refrigerators and freezers to preserve the quality, safety, and shelf life of food products. This trend is fueled by an increasing number of fast-food outlets and ready-to-eat meals, necessitating reliable and high-performance refrigeration systems. As consumer habits shift towards processed and packaged foods, the market for commercial refrigeration solutions is expanding rapidly.

The growth in healthcare facilities, including hospitals, research laboratories, and clinics, boosts the demand for specialized biomedical refrigerators and freezers. These institutions require reliable and precise temperature control for storing vaccines, pharmaceuticals, and biological samples. As the healthcare sector expands, driven by rising health awareness and medical advancements, there is a heightened need for advanced biomedical refrigeration solutions. This demand is further supported by the increasing number of biomedical research projects and the emphasis on maintaining the integrity of sensitive medical materials.

Innovations in refrigeration technology, such as energy-efficient cooling systems, advanced temperature controls, and IoT integration, are major growth drivers for the market. These technological advancements enhance the efficiency, reliability, and functionality of refrigeration units. Smart features, like remote monitoring and automated temperature adjustments, not only improve performance but also reduce operational costs. As manufacturers and businesses adopt these cutting-edge technologies, the commercial food and biomedical refrigeration market benefits from increased demand for state-of-the-art refrigeration solutions that offer better performance and energy savings.

Rapid urbanization and evolving consumer lifestyles significantly impact the demand for commercial refrigeration solutions. As more people move to urban areas and lifestyles become more fast-paced, there is an increased need for efficient refrigeration in food service establishments, supermarkets, and retail outlets. Urban growth leads to a higher concentration of businesses and food vendors that require reliable refrigeration to meet consumer expectations for fresh and preserved products. The expansion of urban areas and the changing dynamics of consumer behavior contribute to the growth of the market.

The surge in biomedical research and pharmaceutical drug development accelerates the need for specialized refrigeration units. Research institutions and pharmaceutical companies require precise and reliable storage solutions for sensitive compounds, biological samples, and experimental materials. The focus on innovation in drug development and the growth of biomedical research activities drive the demand for advanced refrigeration technologies that ensure optimal storage conditions. As research efforts expand and the pharmaceutical industry evolves, the need for high-quality biomedical refrigeration systems grows, supporting market expansion.

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Commercial Food And Biomedical Refrigerators And Freezers Market Report Highlights

• Based on offering, the biomedical sector is expected to show the highest CAGR from 2024 to 2030. The market is growing due to stringent requirements for maintaining the integrity of sensitive biological materials and pharmaceuticals. The need for precise temperature control, reliability, and compliance with regulatory standards propels the demand for advanced biomedical refrigeration solutions

• Based on end use, the food and beverage retail sector dominated the market in 2023. This growth fuels commercial refrigeration through increased demand for high-quality and durable refrigeration solutions. The need to store perishable items at optimal temperatures to maintain freshness and safety drives market expansion. Innovations in temperature management, energy efficiency, and advanced features like smart monitoring and remote control enhance the appeal of refrigeration systems

• Based on capacity, medium-sized (51 to 300 liters) segment dominated the market in 2023. The market growth is due to demand for compact and efficient refrigeration solutions suitable for various commercial settings. This size range is ideal for small to mid-sized businesses, such as cafes, small restaurants, and offices, where space is limited but effective cooling is essential

• Based on distribution channel, retailers dominated the market in 2023. The growth is due to increasing demand for efficient and reliable refrigeration solutions. The expansion of retail chains and supermarkets requires advanced refrigeration systems to maintain food quality and safety. Innovations in energy efficiency, temperature control, and digital monitoring systems enhance operational efficiency and reduce costs

• Asia Pacific market has seen rapid urbanization, and a growing middle class is increasing the demand for processed and frozen foods, boosting the need for commercial refrigeration. The expanding healthcare sector across the region is driving the demand for biomedical refrigeration equipment

• Market players operating in the commercial food and biomedical refrigerators & freezers market include Carrier Global Corporation, CGS, DAIKIN Industries Ltd., Delfield., Helmer, Inc., IC Biomedical, LLC, Jeio Tech Co. Ltd., KW Apparecchi Scientifici Srl, and among others

• In May 2024, Samsung Electronics Co. Ltd. launched three new refrigerators in India. Featuring the company’s next-generation Artificial Intelligence-powered Inverter Compressor, the new models were designed to help Indian homes ensure smarter living and customize their choices while transforming the conventional internal design by optimizing the motor and energy efficiency and saving electricity costs

Commercial Food And Biomedical Refrigerators And Freezers Market Segmentation  

Grand View Research has segmented the global commercial food and biomedical refrigerators and freezers market on the basis of offering, end use, capacity, distribution channel, and region:

Commercial Food And Biomedical Refrigerators And Freezers Offering Outlook (Revenue, USD Million, 2018 - 2030)

• Food Sector

  • Refrigerators

    • Walk-in Refrigerators

    • Reach-in Refrigerators

    • Display Refrigerators

    • Undercounter Refrigerators

    • Blast Chillers

  • Freezers

    • Walk-in Freezers

    • Reach-in Freezers

    • Display Freezers

    • Undercounter Freezers

    • Chest Freezers

• Biomedical Sector

  • Refrigerators

    • Blood Bank Refrigerators

    • Laboratory/Pharmacy /Medical Refrigerators

  • Freezers

    • Shock Freezers

    • Plasma Freezers

    • Ultra-Low-Temperature (UTL) Freezers

    • Laboratory/Pharmacy/Medical Freezers

Commercial Food And Biomedical Refrigerators And Freezers End Use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitality

  • Hotels & Resorts

  • Restaurants

  • Others

• Food & Beverage Retail

  • Hypermarkets & Supermarkets

  • Convenience Stores

  • Speciality Food Store

  • Grocery Store

• Healthcare & Lifesciences

  • Hospitals

  • Research Laboratory

  • Diagnostic Centers

  • Blood Banks

  • Others

• Pharmaceuticals

• Chemicals

• Others

Commercial Food And Biomedical Refrigerators And Freezers Capacity Outlook (Revenue, USD Million, 2018 - 2030)

• Small (up to 50 Liters)

• Medium (50 to 300 Liters)

• Large (Above 300 Liters)

Commercial Food And Biomedical Refrigerators And Freezers Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

• Distributors and Wholesalers

• Retailers

Commercial Food And Biomedical Refrigerators And Freezers Region Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

• Latin America

  • Brazil

  • Mexico

• Middle East & Africa

  • Saudi Arabia

  • South Africa

List of Key Players In the Commercial Food And Biomedical Refrigerators And Freezers Market

• Biomedical Sector - Refrigeration Companies

  • Aegis Scientific Inc.

  • Angelantoni Life Science

  • Arctiko

  • 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.

• Food Sector - Commercial Refrigeration Companies

  • AHT Cooling System GmbH

  • Al Ameen Dev. and Trade Co.

  • Arctic Ai

  • Carrier Global Corporation

  • CGS (cgs.com.sa)

  • DAIKIN Industries Ltd.

  • Delfield

  • Dover Corporation

  • Electrolux AB

  • FRYKA-Refrigeration Technology GmbH

  • GEA Group Aktiengesellschaft

  • Hoshizaki America, Inc.

  • Hussmann Corporation

  • Illinois Tools Works Inc.

  • LIEBHERR Group

  • Norlake, Inc.

  • Panasonic Corporation

  • SAMSUNG ELECTRONICS CO., LTD.

  • True Manufacturing Co., Inc.