Indian Commercial Refrigerated Display Cabinet Market forecast - (2024-2030)

Indian Commercial Refrigerated Display Cabinet Market Overview

The Indian Commercial Refrigerated Display Cabinet Market size is estimated to reach 201k units by 2030, growing at CAGR 6.6% during the forecast period 2024-2030 and generate revenue of $1.1bn. The growth of Indian Commercial Refrigerated Display Cabinet Market is majorly driven by increasing demand for remote cabinets among supermarkets and hypermarkets. Additionally, the expansion of supermarkets and hypermarkets chain after a sharp recovery from pandemic-led blows will also trigger the growth of the refrigerated display cabinet market in India. Furthermore, increasing demand for ready to eat food will create demand for the commercial refrigerated display cabinets among the retail stores. Ready to eat food require proper refrigeration at lower temperatures to provide higher shelf-life, maintain nutritional value and related benefits. This crucially drives the demand for commercial refrigerated display cabinets to maximize customer attention, increase business profits and so on in retail stores. Such factors are anticipated to boost the sales of Commercial Refrigerated display Cabinet in coming years.

Increasing urbanization and the expansion of organized retail chains are driving demand for advanced refrigeration solutions. Energy efficiency and sustainability are becoming critical concerns, leading to the adoption of eco-friendly refrigerants and energy-efficient models that reduce operational costs and environmental impact. Technological advancements, such as smart refrigeration systems equipped with IoT sensors and remote monitoring capabilities, are enhancing operational efficiency and food safety by providing real-time data on temperature and performance. The rise of e-commerce and the increasing importance of cold chain logistics are also boosting the demand for high-quality refrigerated display cabinets to ensure the freshness and quality of perishable goods. Customization and aesthetic appeal are gaining importance as retailers seek to enhance store ambiance and customer experience. Furthermore, government initiatives to improve food safety standards and support the development of cold chain infrastructure are positively impacting the market. The growing trend of quick-service restaurants (QSRs) and hyperlocal delivery services is further propelling the demand for efficient and reliable refrigerated display solutions. These trends are shaping the future of the commercial refrigerated display cabinet market in India, making it more innovative, sustainable, and customer-centric.

Market Snapshot :-

Indian Commercial Refrigerated Display Cabinet Report Coverage

The “Indian Commercial Refrigerated Display Cabinet Market Report – Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Indian Commercial Refrigerated Display Cabinet Market.
By Category: Plug-in (Plug-in Vertical (Closed), Plug-in Vertical (Open), Plug-in Horizontal (Serve Over Counters, Wall Sited & Island)); Remote (Remote Vertical (Closed), Remote (Open), Remote Horizontal (Serve Over Counters, Wall Sited & Island)); Others (Combined Cabinets (Chilled & Multi-Temperature))
By Type: Horizontal ( Wall Sited ( Horizontal Chilled Open Wall Site, Horizontal Chilled Glass Lid Wall Site, Horizontal Frozen Glass Lid Wall Site, Horizontal frozen open wall site), Islands ( Horizontal chilled open island, Horizontal chilled glass lid island, Horizontal frozen glass lid island, Horizontal frozen open island), Serve Over Counter ( Horizontal chilled serve-over counter with integrated storage open service access, Horizontal chilled serve-over counter with integrated storage closed service access, Horizontal frozen serve-over counter with integrated storage open service access, Horizontal frozen serve-over counter with integrated storage closed service access)), Vertical ( Multi-decks ( Vertical chilled multi-deck & Vertical frozen multi-deck), Roll-ins, Glass Door ( Chilled & Frozen), Others), Combined Cabinets ( Combined Mult-Temperature Cabinets, Combined Chilled Cabinets)
By Temperature Class: M0, M1, M2, H1, H2, L1, L2, L3
By Food Type: Pastry Cakes & Baked Food, Chocolates, Food Ingredients & Frozen Food, Snacks & Ready to Eat Foods, Vegetables & Fruits, Others.
By Application: Convenience Store & Supermarket, Retail Stores, Educational Institutes, Hospitals & Healthcare Centres, Movie Theatres, Restaurants & Hotels, Others.
By Sales Channel: Organized Players, Unroganized players. 

Key Takeaways

• Combined Cabinets based Indian Commercial Refrigerated Display Cabinet segment is analysed to grow at the fastest rate of 7.2% during the forecast period 2024-2030, owing to increasing use in big and medium supermarkets. 
• Vegetables & Fruits accounted for the largest share of 24.5% in 2023 and is also analysed to witness a significant growth during the forecast period 2024-2030, owing to rise in number of supermarkets and dedicated retail points for vegetables and fruits.
• Retail Stores dominated the market with a share of 39.5% in 2021 and is expected to rise at a CAGR of 6.7% during the forecast period from 2024-2030 in order to preserve food products such as snacks, ready-to-eat products, bakery products, and others at the optimum temperature to avoid spoilage.
• The growth of organized retail stores including hypermarkets, supermarkets, convenience stores, specialty store and others and increasing demand for ready to eat food are analysed to significantly drive the market growth of Indian Commercial Refrigerated Display Cabinet market during the forecast period 2024-2030.

Indian Commercial Refrigerated Display Cabinet Market Segment Analysis- by Type

Combined Cabinets based Indian Commercial Refrigerated Display Cabinet segment is analysed to grow at the fastest rate of 7.2% during the forecast period 2024-2030, owing to its excellent capacity and visibility to display the products. This type of cabinet is ideal for use in big and medium supermarkets. The growing transition towards supermarkets and hypermarkets by consumers, rapid expansion projects associated with retail sector, along with the increasing need for refrigeration of dairy foods, ready-to-eat items and more is set to boost the sales for Combined Cabinets. In January 2021, More Retail Private Limited, announced its expansion plan to open around 300 hypermarkets and supermarkets in multiple cities across India by the end of 2024. Thus, such surging growth and expansions associated with the food retail sector will increase the use of combined refrigerated display cabinets. This will drive the growth of the Indian commercial refrigerated display cabinets market in the upcoming years.

Indian Commercial Refrigerated Display Cabinet Market Segment Analysis- by Food type

Vegetables & Fruits accounted for the largest share of 24.5% in 2023 and is also analysed to witness a significant growth during the forecast period 2024-2030. Factors attributing to this growth include rise in number of supermarkets and dedicated retail points for vegetables and fruits. Vegetables and fruits require proper refrigeration to stop the growth of the microorganism’s that harm food, such as bacteria, mold and yeast which raises the adoption of refrigerated display cabinet in retail stores. Moreover, the expansion of the supermarkets is anticipated to spur the demand for commercial refrigerated display cabinets to avoid spoilage of vegetables and fruits. In October 2021, Urban Supermarket, a Hyderabad-based supermarket chain, which provides fresh food products, including farm-fresh vegetables and fruits sourced from Mulugu is planning to invest INR 80 crore ($10.82 million) in the establishment of 80 stores by 2024. Thus, significant rise in number of supermarkets can boost the demand for refrigeration equipment like commercial refrigerated display cabinets within the country.

Indian Commercial Refrigerated Display Cabinet Market Segment Analysis- by Application

Retail Stores dominated the market with a share of 39.5% in 2023 and is expected to rise at a CAGR of 6.7% during the forecast period from 2024-2030. Increasing use of commercial refrigerated display cabinets to ensure that food products such as snacks, ready-to-eat products, bakery products, and others are kept at the optimum temperature to avoid spoilage is the major factor that boost the adoption of these cabinets in retail stores. Moreover, the growth of the food retail sector in India will accelerate the demand for new retail stores in the country in the upcoming years which in turn will accelerate the demand for commercial refrigerated display cabinets in India. According to India Brand Equity Foundation (IBEF), Indian retail industry had emerged as one of the most dynamic and fast-paced industries owing to entry of several new players, accounting for more than 10% of the country’s gross domestic product (GDP). India is the world’s fifth-largest global destination in the retail space with 63 ranking, as per the World Bank’s Doing Business 2023. Thus, significant rise in number of retail stores can cater to the demand for refrigeration equipment like commercial refrigerated display cabinets within the country.

Indian Commercial Refrigerated Display Cabinet Market Drivers

Growth in the Organized Retail Sector such as Hypermarkets and Supermarkets is Surging the Demand for Commercial Refrigerated Display Cabinet:

The growth of organized retail stores including hypermarkets, supermarkets, convenience stores, specialty store and others is one of the major growth drivers boosting the adoption rate of refrigerated display cabinet in India. Refrigerated display cabinets (RDC) are used to exhibit and preserve food products thus raises its adoptability among retail food stores. This type of equipment is considered an area for displaying food products that can be quickly and easily accessed by customers without inconvenience.  The expansion of supermarkets chain after a sharp recovery from pandemic-led blows will create opportunities for the growth of the refrigerated display cabinet market in India. In October 2021, Reliance Retail had announced the launch of a first-of-its-kind experiential gourmet food superstore, Freshpik, from Reliance Retail, at the Jio World Drive in Bandra-Kurla Complex, Mumbai. This store will offer a broad range of finest food products and beverages, grocery, ice-creams, frozen desserts, chocolates, artisanal cheese and others with Reliance looking to rapidly expand these sort of retail stores by 2025. Such expansion of supermarkets, hypermarkets and others in India will boost the demand for commercial refrigerated display cabinet over the forecast period.

Increase in Demand for Ready to eat foods is accelerating the growth of Indian Commercial Refrigerated Display Cabinet Market:

Increasing demand for ready to eat food is creating demand for the commercial refrigerated display cabinets among the retail stores, which in turn triggers the growth of this market. Ready to eat food require proper refrigeration at lower temperatures to provide higher shelf-life and maintain nutritional value which drives the demand for commercial refrigerated display cabinets to maximize customer attention, increase business profits and so on. The factors that attributes to rise in demand for ready to eat foods are busy lifestyle of millennial workforce, growing consumer preferences for vegan or healthier alternative food products, spike in gross family income, the growing number of single-person households and many more. According to recent survey conducted by Assocham in 2023 shows that about 79 per cent of Indian households prefers to have instant food due to time constraints. Furthermore, the outbreak of Covid-19 pandemic leads to trend of working from home which accelerates the demand for ready to eat food products within the country which in turn create opportunities for the growth of the refrigerated display cabinet market in India. Thus, increase in demand for ready to eat food can boost the sales of commercial refrigerated display cabinets among the retail stores.

Indian Commercial Refrigerated Display Cabinet Market Challenges 

High cost of Refrigerated Display cabinet coupled with expensive maintenance are limiting the market Growth:

High cost of Refrigerated Display Cabinet (RDC) coupled with expensive maintenance acts as a major challenge restraining the market growth of Commercial Refrigerated display cabinet market in India. Budget is considered the most important factor while small retail stores invest in adopting refrigerated equipment's, thus high cost of refrigerated display cabinet slows down its market growth. The average price range of refrigerated display cooler ranges between INR 20000 to more than INR 6 Lakhs. ($240- $7730). Another key issue hindering the growth of the Commercial Refrigerated Display Cabinet market is the increased pressure from supermarkets for lower prices has led to RDC OEMs to use cheaper components in making RDCs to ensure their products remain competitive. However, in long-term perspective using of cheaper, basic fans reduces the life and performance of the components in the display cabinets which increases maintenance costs and the risk of equipment failure. These factors are limiting the demand for Indian Commercial Refrigerated Display Cabinet which in turn hampers the market growth.

Indian Commercial Refrigerated Display Cabinet Industry Outlook

Product launches, acquisitions and R&D activities are key strategies adopted by players in the Indian Commercial Refrigerated Display Cabinet Market. The top 18 companies in the Indian Commercial Refrigerated Display Cabinet market are:

1. Daikin
2. Panasonic
3. Carrier
4. Danfoss
5. Haier
6. Frigoglass
7. Dover
8. Stellar Gastronoms
9. Blue Star
10. Artic Refrigeration
11. Voltas
12. Middleby Celfrost
13. Arneg
14. Aster India
15. Adwin India
16. Ambience Refrigeration Ltd
17. Elanpro
18. Trufrost Cooling Private Limited

Recent Developments

• In July 2022- Carrier introduced EasyCube-plugin island cabinet which provides automatic defrosting feature, drip water evaporation, optimum product visibility and can be operated at two temperature classes. 
• In October 2021- Elanpro launched its new commercial refrigerated display cabinet product, EDC 1500 F3A under pastry display showcase. The newly launched product has a Four-side Heated Glass, which helps in avoiding condensation and enhances energy efficiency by preventing heat transfers.
• In May 2021- Middleby Celfrost launched a new range of round pastry cabinets, beer coolers, rotating shelves cabinets and multideck cabinets which would have high applicability in bakeries, restaurants, supermarkets and cafes. 

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