Uploaded on Aug 25, 2022
Middle East and Africa commercial refrigeration equipment market
Middle East and Africa commercial refrigeration equipment market
202 2 Growing Popularity of Ready-To- Eat Foods Propelling Demand for Commercial Refrigeration Equipment in Middle East and Africa © P&S Intelligence. All Rights Reserved 1 The burgeoning requirement for beverages, frozen foods, and ready-to-eat food items is fueling the sales of commercial refrigeration equipment in the Middle East and Africa (MEA) region. In addition to this, the surging disposable income of the people residing in these countries and the growing popularity of western lifestyles are boosting the consumption of ready-to-eat food items and frozen foods, especially among the middle-class people of the developing nations such as Oman, Egypt, and the U.A.E. This rapidly changing food consumption trend is being caused due to the expansion of food and restaurant chains, hypermarkets, and supermarkets in the region. The increasing number of restaurants and food outlets is making the unorganized restaurant owners and small grocery retailers upgrade their facilities and infrastructure with various advanced electronic appliances such as commercial refrigeration systems. Moreover, this trend is offering numerous lucrative growth opportunities to new retail outlets and restaurants. The expansion of the retail industry, especially in the Middle East region, on account of the soaring investments being made in infrastructural development and construction activities, the acquisition of new brands, and development of strong digital platforms is also propelling the demand for commercial refrigeration equipment in the MEA region. Qatar, the U.A.E., and Saudi Arabia are predicted to witness huge growth in the organized retail sector in the coming years. Request for sample copy of this report: https://www.psmarketresearch.com/market-analysis/mea-commercial-refrigeration-equipment-market/report-sample Due to the aforementioned factors, the sales of commercial refrigeration equipment are predicted to climb in the MEA region in the forthcoming years. This will fuel the boom of the Middle East and Africa commercial refrigeration equipment market. As a result, the revenue of the market is predicted to grow from $3.1 billion in 2017 to $4.8 billion by 2023. Furthermore, the market is predicted to advance at a CAGR of 7.6% from 2018 to 2023. © P&S Intelligence. All Rights Reserved 2 When application is taken into consideration, the MEA commercial refrigeration equipment market is divided into food & beverage retail, food & beverage distribution, and food service categories. Amongst these, the food & beverage retail category recorded huge expansion in the market in the past, as per the market research company, P&S Intelligence. Moreover, this category will demonstrate rapid advancement in the market in the future, due to the rising popularity of ready-to-eat food items and fast foods in the region. Browse full report at https://www.psmarketresearch.com/market-analysis/mea-commercial-refrigeration-equipment-market Apart from the aforementioned factors, the increasing tourism and the several major events being announced in the region such as the 2022 FIFA World Cup in Qatar and the World Expo 2020 in the U.A.E are also fueling the growth of the food and beverage retail category in the MEA commercial refrigeration equipment market. Additionally, these major events are predicted to boost the requirement for food and beverage retail in the GCC (Gulf Cooperation Council) countries in the coming years. Hence, it can be said with confidence that the demand for commercial refrigeration equipment would surge in the region in the forthcoming years, mainly because of the rising popularity of ready-to-eat foods and the increasing tourism in the region. © P&S Intelligence. All Rights Reserved 3 Market Segmentation • Market Segmentation by Equipment Type • Market Segmentation by End-User Beverage Refrigeration Supermarkets Walk-in Coolers Hotels/ Restaurants & Catering Transportation Refrigeration Equipment Hypermarkets Parts Convenience Stores Display Cases E-commerce Ice Making Machineries Others (hospitals; educational institutions; large pharmaceutical stores; and medical and life sciences) Other Equipment (vending machines, cryogenic equipment, and liquid chiller) • Market Segmentation by Application Food Service Food and Beverage Distribution Food and Beverage Retail Others (pharmacy refrigeration, genetic preservation, medical diagnostic applications) © P&S Intelligence. All Rights Reserved 4 Market Segmentation • Market Segmentation by Geography Egypt Commercial Refrigeration Equipment Market Saudi Arabia Commercial Refrigeration Equipment Market o By equipment type o By equipment type o By application o By application o By end-user o By end-user Rest of MEA Commercial Refrigeration Equipment Market South Africa Commercial Refrigeration Equipment Market o By equipment type o By equipment type o By application o By application o By end-user o By end-user U.A.E. Commercial Refrigeration Equipment Market o By equipment type o By application o By end-user © P&S Intelligence. All Rights Reserved 5 Disclaimer: P&S Intelligence always keeps its customers’ interests at the core while carrying out research activities. P&S Intelligence ensures the reliability and accuracy of information and data provided in its market research publications. 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