Ice Maker Market Size By Product (Ice Cubes, Ice Flakes, Ice Nuggets), By Application (Residential, Commercial [Food Service, Healthcare], Industrial), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2019 – 2025

Published Date: Nov 2019  |  Report ID: GMI4419  |  Authors: Ankita Bhutani, Prasenjit Saha

Report Format: PDF   |   Pages: 162   |   Base Year: 2018




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Ice Maker Market size was over USD 1.5 billion, globally in 2018 and is estimated to grow at 6% CAGR between 2019 and 2025.
 

Ice Maker Market

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Growing food & beverage industry across the globe is supporting the adoption of ice maker systems. This equipment is primarily used to produce fresh ice in large quantities as well as in several types including cube, flake, and nuggets. Product manufacturing companies are majorly focusing on developing energy-efficient systems to reduce the overall electricity and water consumption, supporting the ice maker market expansion. The developing healthcare industry across the globe will support the adoption of commercial ice makers for healing & treatment applications. The equipment is used to produce fresh and hazard-free ice to store organs for a long period.
 

The demand for industrial ice maker systems is growing rapidly in seafood & meat food processing industries to keep raw ingredients and final products frozen and fresh. The growing demand for frozen food products due to their reliable quality, low-cost, and sustainability will support the adoption of ice maker systems in the food retail industry. These systems are primarily used to maintain the precise temperature to keep food products frozen and hazard-free. However, the rising consumer preference for household refrigerators to produce ice is limiting the adoption of these machines in residential applications, hampering the ice maker market growth.
 

Ice Maker Market Report Coverage
Report Coverage Details
Base Year: 2018 Market Size in 2018: 1.5 Billion (USD)
Historical Data for: 2014 to 2018 Forecast Period: 2019 to 2025
Forecast Period 2019 to 2025 CAGR: 6% 2025 Value Projection: 2.5 Billion (USD)
Pages: 162 Tables, Charts & Figures: 178
Geographies covered (16): U.S., Canada, UK, Germany, France, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, UAE, South Africa, Saudi Arabia
Segments covered: Product, Application
Companies covered (14): A & V Refrigeration Corp., AB Electrolux, Ali Group S.p.A., Brema Group S.p.A., Cornelius, Inc., Direct Catering Products Ltd., Hoshizaki Corporation, Howe Corporation, ITV Ice Makers Inc., Kold-Draft, Manitowoc Ice (Welbilt), Middleby Corporation, North Star Ice Equipment Corporation, Whynter, LLC
Growth Drivers:
  • Rapidly developing food & beverage industry across the globe
  • The rising demand for ice makers in the healthcare industry
  • Growing demand for household ice making systems due to the rise in disposable income in North America
  • Proliferation of hospitality industry in Europe and MEA
  • Growing demand for flake ice makers from the transportation industry of Europe
  • Flourishing e-commerce industry in Asia Pacific & Latin America
Pitfalls & Challenges:
  • Consumer preference for household refrigerators over specialized ice making machines
  • High initial investment

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Growing demand for ice cubes in residential and commercial applications 

North America Ice Maker Market Size, By Product, 2018 & 2025 (USD Million)

 North America Ice Maker Market Size, By Product, 2018 & 2025 (USD Million)

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The ice maker market is segmented on the basis of product into ice cubes, ice flakes and ice nuggets. The ice cube segment is dominating the global ice maker industry owing to the increased utilization of these machines in residential and commercial segments. The demand for ice cubes for consumption with cold alcoholic & non-alcoholic beverages at homes, offices, universities, hotels, bars, etc., is supporting high machine sales. The restaurant, lodging, and food serving sectors are majorly using portable, under the top, and commercial ice makers to offer satisfactory customer services and extend their offerings. These machines are used in bars and beer serving restaurants to produce ice to keep containers cool for a longer period. Moreover, the demand for ice cube makers is also accelerating due to the utilization of different sizes & quality of ice in beverages in the hospitality industry globally.
 

Rise in seafood & meat transportation activities across the globe

Based on application, the market has been segmented into residential, commercial, and industrial. Commercial ice maker systems are essential for foodservice or hospitality establishments in order to ensure the constant production of clean and frozen ice. The growing consumption & production of seafood products is leading food transportation service providers to adopt flake ice machines due to their ability to produce flake ice in large quantities, which is ideal for the fishing & seafood industry due to its quick chill properties and versatility.
 

According to the National Marine Fisheries Service of the U.S., in 2019, Asia Pacific dominates global aquaculture production, accounting for nearly 89% of world’s total production. China accounts for 62% of global aquaculture production. Additionally, the rising trade and consumption of meat food products, primarily in the U.S., China, and Brazil are expected to drive the utilization of commercial ice machines over the forecast timeline. These systems are used to produce fresh ice, which is then used in food transportation to keep meat products frozen and fresh.
 

Proliferation of hospitality industry across Europe

Europe Ice Maker Market Size, By Region, 2025

 Europe Ice Maker Market Size, By Region, 2025

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The travel industry plays a vital role in the economic growth of European countries including the UK, France, Germany, and Austria. As per the statistics shared by the World Tourism Organization, the European Union hosted over 670 million international tourist arrivals in 2017, accounting for approximately 51% of the world’s total. Southern and Mediterranean Europe are the most visited group of countries in Europe, followed by Western Europe, Northern Europe, and Central & Eastern Europe.
 

The rapidly developing travel industry is supporting the expansion of the regional hotels & restaurant sector, attributing to the ice maker market growth. Ice maker machines are installed at a variety of dining locations around hotels and resorts. A snack counter or bar that serves specialty cocktails or iced coffees use an undercounter unit that produces clear, larger cubes — an ice form that is ideally suited for such types of drinks. Additionally, locations with an outdoor dining option, such as swim-up bar at a resort, need plenty of ice to assist guests in warm weather conditions.
 

The demand for versatile cube machines with dispensers is rapidly increasing from large chain hotels to offer a consistent & reliable ice source to visitors. Similarly, the demand for undercounter systems is increasing in smaller boutique restaurants to offer more specialty ice forms such as nugget or larger, clear cubes. Moreover, the European Union is the leading consumer of alcoholic drinks across the globe. The rising alcoholic beverage consumption will drive the demand for commercial ice maker systems in the food & beverage industry of Europe over the forecast timeline.
 

Energy-efficient and application-specific product launches remain key growth strategies

Companies operating in the ice maker industry are making large investments in R&D activities to innovate new technologies that will aid to reduce the overall electricity and water consumption of products. Additionally, players are also introducing new products that comply with energy regulations of regional governments to enhance the overall energy efficiency of the system. For instance, in 2019, Howe Corporation announced the launch of its new 1000-SCAE self-contained air-cooled ice flaker. The new product is ENERGY STAR-qualified, which aids the system to consume less energy with efficient operational performance.
 

New players in the ice maker market are focusing on several strategies, such as product launches and partnerships & collaborations, to gain an enhanced market share in the competitive industry. Companies are developing industry-specific ice maker systems. For instance, Manitowoc Ice designs several products that cater to the requirements of several industry verticals including education, offices, healthcare, etc.
 

Some of the players in ice maker market share are Howe Corporation, Ali Group S.p.A., Cornelius, Inc., Hoshizaki Corporation, Manitowoc Ice, Middleby Corporation, North Star Ice Equipment Corporation, AB Electrolux, A & V Refrigeration Corp., and Whynter LLC.
 

The ice maker market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue in USD from 2015 to 2025, for the following segments:

Ice Maker Market By Product

  • Ice Cube
  • Ice Flake
  • Ice Nugget

Analysis By Application

  • Residential
  • Commercial
    • Food Service
    • Healthcare
    • Industrial

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • Saudi Arabia
    • UAE
    • South Africa

 

Frequently Asked Questions (FAQ) :

Ice maker finds major applications in rapidly growing seafood & meat food processing industries to keep raw ingredients and final products frozen and fresh. Their requirement is also in smaller boutique restaurants to offer more specialty ice forms such as nugget or larger, clear cubes.
The commercial ice maker systems are essential for foodservice or hospitality establishments in order to ensure constant production of clean and frozen ice. The growing consumption & production of seafood products is leading food transportation service providers to adopt flake ice machines due to their ability to produce flake ice in large quantities.
The rapidly developing travel industry is supporting the economic growth of the European hotels & restaurant sector, attributing to the growth in ice making machines market.

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