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Europe Upright Freezer Market Forecast to Reach $5.8 Billion by 2026

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Europe Upright Freezer Market Forecast to Reach $5.8 Billion by 2026

October 21
20:20 2021
Europe Upright Freezer Market Forecast to Reach $5.8 Billion by 2026
Europe Upright Freezer Market
The Significant Rise in the Expansion for the Food and Beverage Industry Owing to the Significant Employment of the Upright Freezers in the Ergonomic Door Handles Production Is Set To Impact on the Growth of the Europe Upright Freezer Market

The market for Europe Upright Freezer is forecast to reach $5.8 billion by 2026, growing at a CAGR of 3.7% from 2021 to 2026. The significant rise in the demand for Europe Upright Freezers for frozen foods is set boost the market growth rate during the forecast period 2021-2026. The significant rise in the expansion for the food and beverage industry owing to the significant employment of the upright freezers in the ergonomic door handles production is set to impact on the growth of the Europe Upright Freezer Market. Upright freezer are more useful when there is a space constraint in the area of operation. It vertically shelves, baskets and door bins making easy to organize and finding food in the freezer easy. Increasing demand from the middle class families in the developing economies is expected to drive the demand for upright freezer over chest freezers during the period of study. However, higher energy conservation standards and availability of the alternatives is expected to be key constraints for the growth of the under counter freezers for applications including next generation sequencing during the period of study.

Europe Upright Freezer Market Segment Analysis – By Type

By type the market for upright freezers has been segmented into single door, multi door and double door. Single door freezers are employed in the low storage requirement and double door freezer is deployed in high storage requirement. Double door freezers are set to hold highest market share at 46.5% and are analysed to grow at highest rate during the forecast period owing to their applications in the retail and Food and beverage industry. The significant growth of the food retail industry in the Europe region owing to the growing urban population is set to be the major factor contributing to the growth of the market. 

Europe Upright Freezer Market Segment Analysis – By End user

Retail is analysed to hold the highest share in the upright freezer market in 2020 at 25.1%. The high deployment of upright freezers in preserving food and beverages in the retail sectors is set to contribute to the growth of the market. Food and beverage is also set to hold significant share in the upright freezer market. Therefore the growing supermarket and retail sector in the Europe countries such as Brazil, Mexico and others and the deployment of upright freezers in this sector is boosting the market growth rate. Frozen medications are therefore required to be kept between the temperatures of -25° to –10°C, which cannot be easily provided by upright freezers, but leverage demand over chest freezers for their difficulty in accessibility. Similarly, upright freezers have significant application in restaurants, where freezing food is the most necessary step for smooth functioning and financial savings. 

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Europe Upright Freezer Market Segment Analysis – By Geography

Geographically, Germany dominated the upright freezers market due to large number of households and bigger retail network consuming the upright freezers in the region due to climatic conditions. Germany was followed by UK and France as the second and third largest consumer of upright freezers. Spain is projected to have the fastest growth, owing to rapidly expanding retail networks and increasing number of small and nuclear families requiring smaller freezing units to meet their daily needs. The dire requirement of upright freezers in the preservation of food and beverages in retail is set to boost the upright freezer market in the Europe region. UK is also analysed hold a significant share in the upright freezers market. Adding to this, the growing food and beverage industry expansions in these regions is set to positively impact on the market growth rate.

Europe Upright Freezer Market Drivers

An Increasing Demand for Food Devoid of Preservation

Consumers around the world have become increasingly aware of the detrimental effect of pesticides and insecticides on raw food products. Hence, the food and beverage industry is experiencing a high demand for organic produce, that consists of vegetables, fruits, and other edible food items produced without the addition of any chemical compounds. Since organic produce is devoid of any added preservatives, it tends to have a shorter shelf life. This has instigated a need for upright freezers in hypermarkets and supermarkets than can store food items fresh for a longer time. An increase in working-class society, who are consistently low on time for cooking meals, heavily rely on frozen meals for instant consumption. Rising demand for frozen food has, therefore instigated further innovations in the upright freezers market. For instance, key market players are now releasing upright freezers equipped with individually quick frozen technology (IQF.) This technology allows freezing of food items individually, contrary to collective freezing that often causes inconvenience to consumers. Food products such as peas and herbs are now being frozen using IQF technology to prevent cluster freezing, provide noticeable growth to the upright freezers market.

Expanding Applications of Upright Freezers in Computing

Upright freezers market have now extended their application to other industries as well, such as computing, where these freezers are being deployed to store photonics, condensed matter, computer chips, and similar products. With the advent of quantum computing, storing miniature computer parts in freezers have become necessary for computer manufacturing units. Storing was done with the help of cryogenic free dilution freezers that can bring down temperatures to extremely low measurements such as 2 miliKelvin. At this temperature, storing computing and nuclear parts becomes easy and safe from malfunctioning. In the chemical industry, upright freezers equipped with cryogenic freezing technologies are being used to store liquid chemicals. 

Europe Upright Freezer Market Challenges

High energy conservation standards and availability of alternatives:

The higher energy conservation standards and availability of the alternatives is expected to be key constraint for the growth of the upright freezer market. The adoption of the freezer rooms in the food and beverage industries and warehouses of various industries including pharmaceutical, healthcare and so on instead of the individual freezers is set to hinder the market growth rate during the forecast period. 

Europe Upright Freezer Market Landscape

Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Europe Upright Freezer market. Europe Upright Freezer driver market is expected to be dominated by major companies such as Bosch AG, Whirlpool corp., LG Corp., Samsung Electronics, Metalfrio solutions, Haier Group corp., and Danby Products ltd. among others. 

Acquisitions/Product Launches

In April 2021, Eppendorf AG is set to Acquire Koki’s Centrifuge Business to Strengthen its Position in the upright freezer market

In May 2021, Biolife, a leading developer and supplier of a portfolio of class-defining bioproduction products and services for cell and gene therapies and the broader biopharma market, today announced that it has closed the previously announced acquisition of Stirling Ultracold

Key Takeaways

Retail is analysed to hold highest market share in the upright freezer market owing to the high number of expansions and investments.

Germany is analysed to hold the highest share in the upright freezer market owing to the large food and beverage sector. 

The rising demand for frozen foods in Europe region is set to elevate the Europe Upright freezers market during the forecast period

Related Reports

A. Upright Freezers Market

https://www.industryarc.com/Report/15966/upright-freezers-market.html

B. Latin America Upright Freezer Market

https://www.industryarc.com/Report/18444/latin-america-upright-freezer-market-research-report-analysis.html

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