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Sea Freezer Beverage Wine Coolers Market

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According to the TMR report the global market for machine vision technology will be worth US$28.5 bn by the end of 2021, expanding at a CAGR of 8.40% between 2015 and 2021.
Sea Freezer Beverage Wine Coolers Market Accounting for US$ 1.66 Bn by 2022
According to a new market report published by Transparency Market Research “Freezer
and Beverage & Wine Coolers Market - SEA Industry Analysis, Size, Share, Growth,
Trends and Forecast 2014 - 2022” the SEA market for freezers and beverage & wine
coolers, in terms of revenue, was valued at US$ 1,011.0 Mn in 2014 and is forecast to
grow at a CAGR of 6.4% during the period 2014 to 2022. Growth in demand for packaged
foods and non-alcoholic drinks and high economic growth with increase in establishments
such as hotels, cafés and food chains are key factors driving the growth of SEA freezer
and beverage & wine coolers market.
In addition, growth in number of modern grocery retailers such as hypermarkets,
supermarkets and superstores apart from independent outlets in the region is further
expected to drive the growth of this market over the forecast period.
The SEA freezer and beverage & wine coolers market was dominated by the freezer
category with a market share of around 58% in 2014. Food and packaged food, dairy,
confectionary and ice-cream industries in SEA are driving the freezer market. Wine coolers
market is forecast to grow at a significant rate during the forecast period 2014 to 2022.
Food & beverages and tourism industries are expected to drive the demand for wine
coolers in the SEA region.
Ice cream freezers, chest freezers and upright freezers are three different types of freezers
analyzed in the report. The SEA freezers market was dominated by the ice-cream freezers
with a market share of around 42% in 2014. The demand for chest freezers from
convenient stores and traditional retailers is expected to grow during the forecast period.
The segment is projected to grow at fastest CAGR at 7.0% in the region throughout the
forecast period due to strong demand for packaged foods, confectionery products and
canned food items.
By capacity range, 300 to 500 litres freezer segment with approximately 32% share in the
overall SEA freezer market in terms of revenue was the largest among all freezer types.
Most of the FMCG manufacturers/establishments, food chains and ice-cream chain outlets
enter into agreement with freezer manufacturers. These FMCG manufacturers provide
assistance by providing freezers to the local convenience stores and also aid
hypermarkets by constituting a mini outlet within the premises of the hypermarket.
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By country, Indonesia was one of the largest contributors to the SEA freezers and
beverage & wine coolers market in terms of revenue in 2014 on account of large demand
from rapidly growing middle class population. The stable economy has led to rising
disposable incomes, which have increased the purchasing power of consumers at
foodservice outlets.
Vietnam held the second largest revenue share of the overall SEA freezers and beverage
& wine coolers market in 2014. Beverage coolers market in Thailand is expected to
achieve significant growth during the forecast period from 2014 to 2022. Strong GDP,
economic growth rate and rapid urbanization and advent of BPO and KPO industry across
the SEA region are expected to primarily drive the growth of freezer & beverage and wine
cooler market in SEA. Opportunities from other countries including Philippines and
Malaysia are expected to further drive the growth of SEA freezer & beverage and wine
coolers market during the forecast period from 2014 to 2022.
Leading companies operating in SEA region in the freezer and beverage coolers market
include AB Electrolux, Concepcion Industrial Corporation (CIC), Frigoglass SA, General
Electric Corporation, Hoshizaki Singapore Pte Ltd., Midea Group, Sharp Electronics Co.
Ltd. and South East Asia Hamico Export JSC. Also few of the domestic manufacturers
include PT. Royal Sutan Agung (Indonesia), The Cool Company (Thailand), PT. Indotara
Persada (Indonesia), and SAMEMAX Refrigeration Sdn. Bhd. (Malaysia) among others.
Indonesia led the SEA Freezer and beverage & wine coolers market in 2014 with the
share of around 36% in 2014 of the overall SEA freezer and beverage & wine coolers
market. The reason behind this being more number of consumers are demanding and
purchasing packaged foods, ready-meals, frozen foods, sauces and dressings. The
market in Thailand is expected to grow at fastest CAGR in both the categories namely;
freezers and beverage & wine coolers market during the forecast period.
The key manufacturers in SEA freezer and beverage & wine coolers market are AB
Electrolux, Concepcion Industrial Corporation (CIC), Frigoglass SA, General Electric
Corporation, Hoshizaki Singapore Pte Ltd., Midea Group, Sharp Electronics Co. Ltd.,
South East Asia Hamico Export JSC and The Cool Company among others.
Author
ashutosh
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sea, SEA Freezer and Beverage & Wine Coolers Market
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