Ice Maker Market Size - By Product (Ice Cubes, Ice Flakes, Ice Nuggets), By Application (Residential, Commercial, Industrial), Regional Insights & Global Forecast 2023 – 2032

Ice Maker Market Size

Ice Maker Market size was valued at USD 2.2 billion in 2022 and is slated to register a CAGR of over 6% between 2023 and 2032. The positive outlook for the food & beverage industry globally is driving the demand for ice maker due to the increased demand for ice across various sectors. The expanding tourism and hospitality industries are further boosting ice maker sales. Moreover, the trend of craft cocktails and the need for ice in healthcare settings & tourism contribute to market growth.

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An ice maker is a specialized appliance designed to produce ice cubes or nuggets in a convenient & automated manner. It is typically integrated into refrigerators or available as standalone machines. The ice maker trays are first filled with water, which is then frozen; the formed ice is transferred into a storage bin. Ice makers offer a steady supply of ice, thereby catering to various needs including cooling beverages, preserving food, and serving in commercial establishments such as restaurants and bars. Ice makers c can be under-counter, countertop, or portable, thereby providing flexibility for use in both residential & commercial applications.

The high initial investments in an ice maker can be a significant pitfall or challenge for individuals or businesses. These machines, particularly the commercial or industrial-grade models, can be expensive to purchase & install. Such a high upfront cost can strain budgets, especially for smaller enterprises or startups. Additionally, it may deter homeowners who are on the lookout for adding this convenience to their kitchens. Maintenance & energy expenses can further compound the overall cost of ownership. Despite the hurdle of an initial investment, many businesses and households ultimately find the convenience and long-term savings in ice production to be a worthwhile investment.

COVID-19 Impact

The COVID-19 pandemic disrupted the advancements in the ice maker market in several ways. With lockdowns and restrictions on indoor dining, many restaurants, bars, and hospitality businesses experienced reduced operations or temporary closures. This led to the decreased demand for ice makers in the foodservice sector. Additionally, supply chain disruptions and manufacturing delays affected the availability of components and machines, further hampering production & distribution operations. Some residential users may have contributed to increased purchases to meet the need for ice at homes during lockdowns, thereby providing a partial offset to the overall industry decline.

Ice Maker Market Trends

The ice maker market is witnessing several key trends. There is a growing demand for energy-efficient & environment-friendly ice makers owing to sustainability concerns. There is also a rising emphasis on smart & connected ice makers with features such as remote monitoring & control. The market is experiencing a shift toward smaller & more compact ice makers for space-conscious consumers. Moreover, the demand for ice makers in the healthcare sector is rising due to their importance in medical applications. The market is also observing innovations in ice types including nugget & gourmet ice, thereby catering to the evolving consumer preferences.

Ice Maker Market Analysis

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The ice cube segment of ice maker market was worth USD 1.5 billion in 2022 and is estimated to register a lucrative growth rate by 2032. The demand for clear & consistent ice cubes, especially in high-end bars & restaurants, is on the rise as they enhance the presentation and quality of drinks. Additionally, the convenience of having a constant supply of ice cubes at home is driving consumer purchases. Manufacturers are focusing on producing ice makers that can deliver high-quality & crystal-clear ice cubes so as to cater to the evolving preferences of both consumers and businesses.

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The commercial segment accounted for 70% of the Ice maker market share 2022, due to its indispensable role in various sectors. The hospitality industry, which comprises hotels, restaurants, and bars, relies heavily on ice makers to serve drinks, and keep food fresh. Healthcare facilities require ice for patient care and the storage of medical supplies. Supermarkets and convenience stores use ice makers to merchandize beverages & seafood. The rising popularity of takeout & delivery services has also boosted the demand for ice in foodservice establishments.

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North America ice maker market size reached USD 850 million in 2022, attributed to increased consumer demand and changing lifestyles. As more people seek the convenience of ice production at home, there will be a steady increase in residential ice maker sales. Additionally, the increasing number of restaurants, bars, and hospitality establishments in the region is fueling the demand for commercial ice makers.

Ice Maker Market Share

The ice maker market is highly competitive owing to the presence of the key players such as:

• A & V Refrigeration Corp.
• AB Electrolux
• Ali Group SRL
• Brema Group S.p.A.
• Cornelius, Inc.
• Direct Catering Products Ltd.
• Figor Industrial
• Hoshizaki Corporation
• Ice-O-Matic
• ITV Ice Makers
• Kold-Draft
• Manitowoc Ice Systems
• Marel
• Middleby Corporation
• NewAir LLC
• North Star Ice Equipment
• Porkka Finland Oy
• Scotsman Ice Systems
• U.S. Ice Machine Manufacturing Co.
• Welbilt
• Whynter LLC.
   

Ice Maker Industry News

• In July 2022, Electrolux Group, a multinational home appliance company based in Sweden, launched the first experience center for ice maker machine in the Indian market This center introduced a complete range of refrigeration solutions.
   

This ice maker market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD billion) from 2018 to 2032, for the following segments:

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By Product

• Ice cubes
• Ice flakes
• Ice nuggets

By Application

• Residential
• Commercial
• Industrial

The above information is provided for the following regions and countries:

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