Market Trends of Countertop Ice Makers Industry
Growth of Food Chain Restaurants and Bars
- The chain of restaurant and bar industry has experienced a surge in demand due to the increasing number of jobs in the service industry in emerging economies such as China and India. This has resulted in an increased need for the provision of chilled beverages to customers. The global demand for ice makers is expected to be positively impacted by the ongoing population growth, urbanization, and rising disposable income.
- The popularity of alcoholic beverages such as whiskey in countries such as the United States, the United Kingdom, India, and Germany is expected to increase, particularly among young consumers. The ice maker market is expected to grow significantly in the coming years due to the growing demand for ice cubes in restaurants, bars, and hospital settings.
- The ice makers market is expected to remain stable over the next few years due to the steady growth of the quick-service restaurant industry. Eating outside is becoming more popular, and a growing number of people are turning to chilled drinks, which will drive the product demand in the coming years.
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Asia-Pacific is Dominating the Market
- China is expected to be the largest revenue contributor to the growth of the regional market. The growing population in Asia Pacific and the urbanization in countries like China and India are expected to be the main factors driving the ice maker demand in the coming years.
- In addition, the economic growth in Asian countries has led to an increase in disposable income, which has become a key factor in the growth of the market. Similarly, growing customer demand for different sizes, shapes, capacities, and price points of ice makers encourages market participants to create new products.
- Food service companies are also looking for new ice shapes for cocktails at fine dining, bars, and quick-service establishments. Cocktail recipes dictate the type of ice to be used, which increases the demand for various types of clear ice. This is another factor driving the ice maker market growth.
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