Global Freezers Market Growth Analysis With Investment Opportunities

The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033

LONDON, GREATER LONDON, UK, June 27, 2024 /EINPresswire.com/ — The global freezers market size has seen steady growth in recent years and is projected to expand from $7.39 billion in 2023 to $7.74 billion in 2024 at a compound annual growth rate (CAGR) of 4.8%. The growth in the historic period can be attributed to changing food consumption patterns, rising urbanization, income growth, food preservation needs, and demographic changes. The freezers market size is expected to continue its steady growth, reaching $9.12 billion in 2028 at a CAGR of 4.2%. This anticipated growth can be attributed to health and wellness trends, environmental sustainability, e-commerce and home delivery, changing dietary preferences, and global supply chain dynamics. Major trends in the forecast period include the integration of quick freeze features, energy star and eco-friendly certifications, advanced defrosting mechanisms, dual cooling systems, and innovative storage solutions.

Growing Emphasis on Food Waste Reduction Drives Market Growth
The surge in the freezers market is propelled by the growing emphasis on food waste reduction. A prevalent contributor to this issue is consumer conduct, which includes excessive buying, neglect of leftovers, and misinterpretation of product expiration dates. Inadequate storage and infrastructure, especially in developing countries, contribute to food loss in the supply chain. Freezers are valuable tools for reducing food waste, allowing consumers to freeze surplus food, leftovers, and fresh produce, thus extending their shelf life. Effective labeling, organizing, and periodically reviewing freezer contents help avoid forgotten items. For instance, in September 2023, the Ministry of Agriculture, India, reported that nearly $600 million worth of food gets wasted each year. As per the Food Wastage Index report by the United Nations Environment Programme (UNEP), Indian households discard approximately 68.7 million tons of food each year, translating to around 50 kilograms per person. India ranks second globally in terms of food wastage at the household level, with only China ahead. Therefore, the growing emphasis on food waste reduction is driving the growth of the freezers market in the forecast period.

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Major Players
Major companies operating in the freezers market include SilTerra Malaysia Sdn Bhd, Samsung Electronics Co. Ltd., Shanghai Huali Microelectronics Corporation, LandMark Optoelectronics Corporation, Taiwan Semiconductor Manufacturing Company, Kobe Steel Ltd., Infineon Technologies AG, United Microelectronics Corporation, GlobalFoundries Inc., Semiconductor Manufacturing International Corporation, Hua Hong Semiconductor Limited, Dongshan Precision Manufacturing Co. Ltd., Allegheny Technologies Incorporated, Vesuvius PLC, Powerchip Semiconductor Manufacturing Corporation, GlobalWafers Co. Ltd., Vanguard International Semiconductor Corporation, Tower Semiconductor Ltd., Dongbu HiTek Co. Ltd., DB HiTek Co. Ltd., Grupo Industrial Saltillo S.A.B. de C.V, Neenah Enterprises Inc., X-FAB Silicon Foundries GmbH, Aludyne Inc., Anhui Yingliu Electromechanical Co. Ltd., Georg Fischer AG, Ryobi Limited, Doosan Heavy Industries & Construction Co. Ltd., Altis Semiconductor, and LFoundry Pte. Ltd.

Trends in Freezers Market
Freezer manufacturers are implementing technologies such as IoT and embedded sensors in their products to improve overall functionality. Manufacturers are introducing advanced human-machine interface designs in freezers and are also manufacturing freezers that can automatically recognize the type and weight of the food stored in the refrigerators, adjusting and monitoring the temperature as required.

Segments:
The freezers market covered in this report is segmented –
1) By Type Of Door: 1 Door, 2 Door, 3 Door, 4 Door
2) By Product: Chest Freezer, Upright Freezer, Other Products
3) By Application: Residential, Commercial, Industrial
Sub-Segments-
By Capacity: 200 & below, 200-300, 300-500, 500 & Above

Geographical Insights: Asia-Pacific Leading the Market
Asia-Pacific was the largest region in the freezers market share in 2023. The regions covered in the freezers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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Freezers Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Freezers Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on freezers market size, freezers market drivers and trends, freezers market major players, competitors’ revenues, market positioning, and market growth across geographies. The freezers market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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