According to a comprehensive research report by Axiom Market Research & Consulting Global Ice Maker Market has been witnessing significant growth in recent years, driven by the increasing demand for ice makers in various commercial and residential applications. Ice makers are commonly used in restaurants, bars, hotels, hospitals, and other places where ice is required for food storage and preparation, drinks, and medical purposes. Moreover, the rising popularity of cold beverages, frozen desserts, and cocktails is also boosting the demand for ice makers in households and small businesses.
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ICE MAKER MARKET DRIVERS
The increasing sedentary lifestyle owing to the growing jobs in the service sector in emerging economies like China and India, has led to the development and growth of the food service industry. The food service industry has evolved owing to the rise in the trend of eating away from home. The use of advanced techniques and technologies has also helped the food service providers increase their production and streamline their activities to enhance overall efficiency. The increase in the millennial working population, changing preferences for ready-to-eat foods, and the growing need for customized and newer food and chilled beverage options have propelled the demand for ice makers in the foodservice industry. Also, the growing demand for storing predictable food and serving chilled beverages to customers has led to increasing demand for products from the food service industry globally. The continuous population growth, rapid urbanization, and increasing disposable income are among the significant factors expected to positively influence the demand for ice makers globally. Besides, the increasing consumption of ice cubes in bars is likely to drive the market growth. The rising popularity of alcoholic beverages, such as whiskey, and an increasing number of people have started to opt for chilled drinks, thereby driving the ice maker demand. The icemaker is used to lower the whiskey's temperature a few notches, making it more palatable.
ICE MAKER MARKET OPPORTUNITIES
The increasing expenditure on the healthcare system by various governments across the globe in the wake of the recent coronavirus outbreak is expected to drive the demand for ice makers in hospitals. The expansion of the healthcare industry and growing investments in the public and private healthcare industries are projected to stimulate growth. One of the major factors propelling the industry's growth is the growing demand for ice in the healthcare sector to store organs and help with recovery procedures. Ice is used for organ storage, as if the cells and tissues of the organ breakdown too much, the organ will not function properly, or at all. To slow the breakdown, organs are rinsed with a preservation solution and cooled to a temperature between 32-9 degrees Fahrenheit. This process delays the breakdown of cells and creates a window of time during which the organ can be outside of the body without causing irreversible damage. Further, the growing healthcare industry is fuelling the adoption of ice makers for healing and treatment applications. The increasing utilization of ice in cold therapy is one of the major factors augmenting the ice maker’s industry.
