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Douglas, Jan. 20, 2023 (GLOBE NEWSWIRE) -- As part of its latest expansion, Douglas Insights has assessed multiple facets of the global chest freezers market and identified the changes in market trends due to an increase in demand from growing industries like the food processing, food service, and biomedical industries. It has included chest freezers market research reports in its comparison engine, providing analysts, market researchers, businesses, and industry experts, with the information they need to distinguish market trends, restrictions, drivers, obstacles, and future forecasts. Cryo Freezer For Sale
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The global chest freezers market is expected to grow at a decent rate in the coming years, with a steady estimated compound annual growth rate (CAGR) of 4.5% from 2022 to 2031. The main drivers for the growth of this market are rising disposable incomes, increasing demand for frozen food products, and the growing global population. The thriving fast-food industry, a growing number of quick-service restaurants, rising demand for biomedical applications, and improvements in cold chains are also contributing to the growth of the chest freezers market.
Recent trends indicate a greater preference for ready-to-cook and ready-to-eat foods among consumers, especially in nations with an uptick in disposable incomes. This growth in demand has also spurred some new players, targeting emerging markets with plenty of growth opportunities for chest freezer manufacturers.
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With an increase in fast-paced lifestyles and evolving eating habits, frozen and processed foods are being consumed worldwide. Chest freezers are an integral part of the rapidly growing food industry, where frozen and processed foods cannot be manufactured, transported, or shelved without refrigeration. The demand and production for such food products are helping drive the sales and growth of the chest freezer market around the world. Manufacturers are now using advanced technologies to provide better functionality and more energy-efficient products.
The food service industry also offers great growth opportunities for the chest freezers market, as there is an increase in demand for frost-free chest freezers from restaurants, food retailers, etc. Apart from food processing and storage applications, the market is also experiencing increased demand from the biomedical industry. They require energy-efficient and ultra-low temperature chest freezers to store various biomedical components and other biomedical applications.
Current trends indicate that developing nations in the Asia Pacific region offer the greatest growth opportunities for key market players. This growth is possible due to rising population, rising temperatures, rapid industrialisation, urbanisation, and improvements in cold chains. There have been developments in food processing infrastructure, an increase in commercial applications, and an increase in disposable incomes in the region's developing nations. All of these factors support the market's growth.
Unfortunately, the one key restraint for the growth of the chest freezers market is the availability of more efficient, feature-rich alternatives like upright freezers. However, increasing research and development by manufacturers to add features and improve energy efficiency, coupled with the lower price points of chest freezers, is expected to curb this restraint to an extent during the forecast period.
Some key global players in the chest freezers market include Rockwell Industries, Western Refrigeration, Haier, Electrolux Group, Frigidaire, Everest Refrigeration, Kieis, Williams Refrigeration, Elan Professional Appliances, Midea, The Middleby, Westinghouse Electric, and Kenmore.
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