PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1490136
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1490136
Global food display cabinet market is estimated to be valued at USD 23.63 Bn in 2024 and is expected to reach USD 41.83 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 8.5% from 2024 to 2031.
Report Coverage | Report Details | ||
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Base Year: | 2023 | Market Size in 2024: | US$ 23.63 Bn |
Historical Data for: | 2019 to 2023 | Forecast Period: | 2024 to 2031 |
Forecast Period 2024 to 2031 CAGR: | 8.50% | 2031 Value Projection: | US$ 41.83 Bn |
Global food display cabinet market has been witnessing growth in the recent past years, owing to rising demand for aesthetically appealing food presentation as well as preservation of quality and freshness of food items. Food display cabinets are commonly used in restaurants, cafes, hotels, and food retail stores to store and display a variety of food products in an attractive manner. These cabinets are designed to maintain optimal temperature and humidity levels to extend the shelf life of food. Rapid expansion of the foodservice industry globally has boosted the need for innovative and efficient food display solutions, thus, driving the food display cabinet market growth. With growing cognizance about food safety and hygiene, there has been rising demand for cabinets with features such as LED lighting and anti-microbial surfaces.
Market Dynamics:
Rising number of quick-service restaurants, hotels, and cafes globally is expected to drive the global food display cabinet market growth. Growing consumer preference for eating outside and on-the-go dining experiences has necessitated the need for attractive food presentation. However, high initial investment costs associated with commercial display cabinets can hamper its widespread adoption. Ongoing technological advancements in food storage and display solutions can offer new growth opportunities. For example, cabinets with features such as remote monitoring, IoT connectivity and advanced temperature management are gaining traction. Improving standards of living and disposable income levels in developing countries is also expected to create drive the market growth in the near future. Sustainable product development through eco-friendly materials and energy-efficient features can further expand business opportunities.
Key Features of the Study:
Detailed Segmentation-