Global Walk-in Chiller/Freezer Market Size (2022 – 2030)

According to our research report, the global walk-in chiller/freezer market was valued at $8.50 billion in 2022, and is projected to reach a market size of $14.82 billion by 2030. The market is projected to grow with a CAGR of 7.2% per annum during the period of analysis (2023 - 2030).

Industry Overview

Commercial refrigerators with a walking area are called walk-in refrigerators. They come in low and medium temperature ranges. These fridges come in sizes less than 55 sq. Floor spacing might range from several thousand sq. ft., with ceiling heights varying from 7 to 32 ft. For everyday production and inventory preservation, these are generally utilized in supermarkets and hypermarkets to cool or freeze raw and cooked food products. Additionally, they help keep food fresh and extend the shelf life of food products by preventing food degradation brought on by bacterial growth.

Increased demand for frozen and ready-to-eat food, an increase in the requirement to prevent bacterial development, and an extension of food shelf life are the main factors driving the worldwide walk-in refrigerator market. However, high beginning costs and fluctuating raw material prices limit market expansion. In contrast, it is anticipated that the growing trend of frozen food consumption in developed nations like North America and the increase in supermarkets and hypermarkets will create several chances for the industry to grow.

The type, end user, and geographic segments are used to divide the global market for walk-in refrigerators. It is divided into two types: indoor type and outdoor type. It is divided into the retail, food service, and food processing industries based on the end customer. It is examined geographically in North America, Europe, Asia-Pacific (APAC), and LAMEA.

Impact of Covid-19 on the Industry

The COVID-19 epidemic has negatively affected the walk-in cooler and freezer sector globally. The epidemic caused the majority of warehouses, food supply chains, and restaurants to close, which hurt the sales of walk-in coolers and freezers. However, as demand from healthcare settings surged in the second half, the market for walk-in coolers and freezers slowly started to recover. A sizable number of walk-in freezers and coolers were used to store COVID-19 vaccinations.

Players began working together with the government and healthcare organizations to give them the best products for preserving and storing vaccinations and other delicate medications. For instance, the Department of Health & Family Welfare, Government of Karnataka, received several deep freezers and one walk-in freezer from Bharat Electronics Limited (BEL) in 2021.

Market Drivers

Rising Frozen Food Consumption Pushing Demand for Commercial Walk-in Freezer for Sale

The U.S. will continue to be the most lucrative market for both commercial grade and indoor walk-in coolers and freezers. Sales in the United States will continue to be aided by the presence of established retail sectors, increased hotel construction, rising demand for bespoke walk-in coolers and freezers, and the presence of major market participants.

Increasing disposable income in the developing economies will drive the market growth

Sales of frozen and processed food items have been driven by rising disposable income and changing lifestyles nationwide. In restaurants or at home, a significant portion of Americans eats frozen meals. The American Frozen Food Institute (AFFI) estimates that retail sales of frozen food increased by 21% in 2020 to around US$ 65.1 billion. The market for walk-in coolers and freezers is expanding favorably across the nation as a result.

Market Restraints

High initial investment cost to challenge the market growth

Its capacity to maintain food and other products at the required temperature is credited with the market's expansion. The market expansion, however, is being significantly constrained by the high initial installation and maintenance costs as well as the frequently shifting pricing of commercial refrigeration equipment. Additionally, hazards related to condenser failure go along with the high cost of maintenance. Additionally, reducing refrigeration rates may cause the quality of food, drink, flower, and other products to decline. One of the key challenges preventing the market from expanding is consumers' lack of knowledge about how to use and consume these reduced-temperature refrigerated goods.

Walk-in Chiller/Freezer Market Report Coverage:

This research report on the global walk-in chiller/freezer market has been segmented and sub-segmented based on, Geography & region.

Global Walk-in Chiller/Freezer Market- By Type

• Walk-in Cooler
• Walk-in Freezer
• Combo (Freezer + Cooler)

The walk-in cooler, walk-in freezer, and combo (freezer + cooler) are the three product categories that make up the global walk-in coolers and freezers market. The most popular item sold on the global walk-in coolers and freezers market is still walk-in freezers. To safeguard delicate items from bacterial development and other environmental conditions, walk-in freezers are being used more frequently in a variety of end-use applications, including restaurants, research labs, and retail sectors. However, the combo category is predicted to experience a significant increase during the projection period because of the growing popularity of combo walk-in products.

Global Walk-in Chiller/Freezer Market- By Technology

• Self-Contained
• Remote Condensing
• Multiplex Condensing

The market for walk-in coolers and freezers is divided into three categories based on technology: self-contained, remote condensing, and multiple condensing. The self-contained segment dominates this group by a large margin and is predicted to keep doing so throughout the projected period. Self-contained walk-in coolers and freezers have many benefits, including being more portable, and handy, and requiring less maintenance and service. During the projection period, the market for walk-in coolers and freezers will continue to develop due to the rising use of self-contained walk-in coolers and freezers for longer-term food storage.

Global Walk-in Chiller/Freezer Market- By Application

• Cold Storage Warehouse
• Breweries
• Commercial Kitchen & Restaurants
• Floral Storage
• Pharmaceuticals
• Chemicals
• Research laboratories
• Hospitals & Mortuaries
• Mobile Refrigeration System
• Retail Food & Beverage
  • Supermarket
  • Hypermarket
  • Convenience Stores
• Other Stores

The market for walk-in coolers and freezers has been divided into cold storage warehouses, breweries, commercial kitchens and restaurants, floral storage, pharmaceuticals, chemicals, research laboratories, hospitals & morgues, mobile refrigeration systems, retail food & beverage, and other stores based on application. By 2029, the walk-in coolers and freezers market for commercial kitchens and restaurants will continue to be the greatest revenue contributor. The main driver of sales in the global market is the expanding use of walk-in coolers and freezers in commercial kitchens and eateries.

In commercial kitchens and restaurants, walk-in coolers and freezers are essential for the bulk storage and presentation of food products. They are employed to cool or freeze cooked or raw foods. However, due to the quick growth of the supermarket, convenience store, and hypermarket sectors of the retail business, it is expected that the retail food and beverage segment would expand at a significant CAGR between 2022 and 2029.

Global Walk-in Chiller/Freezer Market- By

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa

The U.S. will continue to be the most lucrative market for commercial-grade indoor walk-in freezers and coolers. Sales in the United States will continue to be aided by the presence of established retail sectors, increased hotel construction, rising demand for bespoke walk-in coolers and freezers, and the presence of major market participants. Sales of frozen and processed food items have been driven by rising disposable income and changing lifestyles nationwide. In restaurants or at home, a significant portion of Americans eats frozen meals. The American Frozen Food Institute (AFFI) estimates that retail sales of frozen food increased by 21% in 2020 to around US$ 65.1 billion. The market for walk-in coolers and freezers is expanding favorably across the nation as a result.

To preserve the best possible condition for frozen and refrigerated goods, the majority of restaurants and commercial kitchens in the U.S. feature well-maintained commercial walk-in freezers and coolers. Additionally, expanding the use of portable walk-in coolers and freezers, in addition to conventional ones, in the pharmaceutical and clinical research industries, as well as rising food product sales through online channels, will assist the expansion of the U.S. market.

One of the profitable markets for walk-in coolers and freezers is China. Restaurants and commercial kitchens in China have exciting futures thanks to rapid urbanization and a booming economy. The walk-in coolers and freezers are driven by this in turn. The sales of walk-in coolers and freezers are significantly impacted by China's growing importance as a tech center. Leading companies based in China are utilizing contemporary technologies to create cutting-edge, environmentally friendly items at competitive pricing. This has contributed to increased walk-in cooler sales.

Increased exports of frozen goods like seafood will help keep advanced walk-in freezer sales brisk. China continued to be the world's top exporter of frozen fish, with total frozen whole fish export reaching close to US$ 2.38 billion in 2020, according to research published in the World's Top Exports (WTEx). Additionally, during the forecast period, it is predicted that the growth of the walk-in coolers and freezers market in China would be aided by the expansion of the retail business sectors and rising consumer expenditure.

The market for walk-in coolers and freezers in India is anticipated to increase rapidly between 2022 and 2029. The increase in the use of indoor and outdoor walk-in coolers and freezers by a variety of industries, including food & beverage, healthcare, and chemicals, is responsible for the country's growth. The food and beverage sector contributed about 3% of India's GDP in 2020, according to the Indian Brand Equity Foundation (IBEF). India has the second-highest population after China. Food preservation has become essential to support such a large population.

There are numerous food shops, storage facilities, and commercial kitchens that have outdoor walk-in coolers and freezers built. The demand for frozen and processed foods has significantly increased as a result of increasing disposable income and expanding urbanization. Sales of walk-in coolers and freezers are seeing significant growth potential as a result of this.

Global Walk-in Chiller/Freezer Market- By Companies

• Arctic Walk-in Cooler & Freezers
• Beverage-Air Corporation
• Delfield
• Haier
• FRIGINOX -
• Hussmann Corporation
• Imbera Foodservice
• Imperial Manufacturing Group
• Panasonic
• Precision Refrigeration
• SRC Refrigera

NOTABLE HAPPENINGS IN THE GLOBAL WALK-IN CHILLER/FREEZER MARKET IN THE RECENT PAST:

• Product Launch: - In 2021, To comply with the DOE (Department of Energy) regulation, Emerson has introduced a new platform of annual walk-in energy factor (AWEF) compliant condensing units for walk-in coolers.
• Business Collaboration: - In 2021, The Fischer Group collaborated with Arctic Industries, a well-known walk-in cooler and freezer producer supported by Stoic Holdings.
• Merger & Acquisition: - In 2019, Viessmann acquired IAC Vestcold AS to expand its business across the refrigeration industry.