Commercial Ice Making Machine market

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Industry Size (2023)
USD 267 Mn
Forecast (2033)
USD 493.3 Mn
CAGR (2023 to 2033)
6.3%

Commercial Ice Making Machine Market Outlook (2023 to 2033)

The commercial ice-making machine market is set to strengthen its boundaries with a healthy CAGR of 6.3% between 2023 and 2033. The market holds a value of US$ 267 Million in 2022, while it is expected to cross a value of US$ 493.3 Million by 2033.

Previously the market thrived at a slow CAGR of 4.9% between 20177 and 2022. The slower growth rate was attributed to the covid-19 and changing market dynamics. New industrial ice-making machine for industrial flake ice along with half the energy costs compared to conventional drum technology. Ice is majorly used by the FMCG industry and has declined due to the spreading virus. Vendor companies have started finding new verticals for the ice market. The market revolves around new verticals such as cold storage facilities, hospitality, restaurants, etc.

The modern refrigeration system includes four major components that are: the compressor, the condenser, the expansion valve, and the evaporator. The low maintenance cost has been another factor that drives the demand for commercial ice-making machines. The advanced technology in these components helps the machine in different heating and cooling cycles that help the icing processes.

The rise in demand for industrial flake Ice lately has shaped the growth trends for commercial ice-making machines as small and medium vendors adopt these machines for better utilization of ice. This ice is further applied as crushed ice in ice cream. Later the crushed ice or chip ice falls down the full length of the Industrial Ice Machine and is available for transport with a conveyor belt or auger in the ice factory or industrial food processing. New ice-making machines come with customized sub-settings for different types of ice shapes, such as cubes, crushed, and flakes.

Commercial Ice-Making Machine Market Size (2023E)

US$ 267 Million

Commercial Ice-Making Machine Market Projected Size (2033F)

US$ 493.3 Million

Value CAGR (2023 to 2033)

6.3%

Historic CAGR % (2017 to 2022)

4.9%

Historical vs Future Comparison - Commercial ice making machine Market

The market during the previous forecast period slowed due to the covid-19. FMCG, along with the pharmaceuticals sector, is going to build future prospects for the commercial ice-making machines market as they consume most of the ice-making machine market. From bullets to cubes, the ice-making machines help restaurants provide ice to dilute and chill any beverage that they provide. Now that these clubs and restaurants are functional again, the demand for ice-making machines is surging along with Industry 4.0 and its components penetrating the machine work. Along with it, the increased consumption of mocktails and cocktails is expected to fuel the sales of ice-making machines.

Rundown of Growth Drivers Influencing Commercial Ice Making Machine Market

The major drivers for the Commercial ice-making machine market are the long list of applications and the rising demand from bars, cafes, restaurants, and hotels. Furthermore, social gatherings such as parties, concerts, and movie shows keep these ice-making machines for serving different kinds of drinks to the end users. While these verticals can be seen and understood, the other small-range vendors that deal with small gatherings or house parties also adopt small-sized ice-making machines along with the rising pace of urbanization. The increased urban structure, such as modern-day bars and restaurants, is keeping it straight and digital for their convenience.

The rising adoption of ice-making machines in the healthcare and pharma industry will offer lucrative opportunities for the ecosystem during the forecast period. The proliferating healthcare system after the covid-19 pandemic where governments are strengthening their healthcare infrastructure through the adoption of the latest tech, such as commercial ice-making machines. The healthcare applications involve tissue treatment, organ storage, along with cold compression therapy.

Fluctuations in Demand Cause Distress Among Manufacturers

The biggest factor that hinders the sale of commercial ice-making machine systems is the high cost associated with it, along with the frequency of maintenance and limited applications. Sectors such as FMG, hospitality, and hotel business have taken a blow during the pandemic.

Now that these sectors have restored their strength in the market, the adoption of the ice-making machine that has a high initial investment acts as a market restraint. High manufacturing costs translate into high product prices, further impeding market growth. Furthermore, the need for flexible production lines to meet fluctuating demand for various types of ice makers necessitates large investments. This leads to high investment at an early stage, along with the benefit of clean water.

Comparative View of Commercial Ice Making Machine Market

Egg Grading Machin Market:

Attributes

Egg Grading Machin Market

CAGR (2022 to 2032)

4.2%

Market Value (2026)

US$ 2.06 billion

Growth Factor

The rising demand for eggs and small business owners adopting the medium-scale egg business is fueling the demand for egg grading machines worldwide.

Opportunity

The advanced technology through Industry 4.0 and advanced automation penetrating the FMCG industries are creating opportunities for the egg grading machines market.

Key Trends

Egg grading machines with faster grading production times are shaping the egg grading machines market.

Tray Sealing Machines:

Attributes

Tray Sealing Machines

CAGR(2022 to 2032)

4.5%

Market Value (2026)

US$ 3.94 billion

Growth Factor

The concern over food safety and hygiene along with the proliferation of online food deliveries has led the companies to adopt tray sealing systems to pack PMCG products in safe packaging.

Opportunity

The FMCG industry introducing a new set of sealing and packing solutions, providing vacuum and airtight sealing solutions is expected to fuel the sales of tray sealing machines.

Key Trends

Government compliances including higher food hygiene index and regular inspections have fuelled the growth of the tray sealing machines market

Commercial Ice-Making Machine Market:

Attributes

Commercial Ice-Making Machine Market

CAGR (2022 to 2032)

6.3% (2023 to 2033)

Market Value (2026)

US$ 320.71 million

Growth Factor

The global cuisines becoming a part of the food industry along with proliferating bars and hotel businesses demand ice-making machines for ease.

Opportunity

Different sizes and shapes along with efficient cooling options are enhancing market advancements while creating opportunities for the future.

Key Trends

The growing consumer base of ice cubes and spherical for different alcohols such as whisky and scotch are shaping the trend for the commercial ice-making machine market.

Segmentation 

What Ice Type Segment is the most fruitful for the Commercial Ice Making Machine Market?

In 2023, the demand for cube type of ice is likely to be the biggest, with a CAGR of 6.6 % between 2023 and 2033. The growth is attributed to its higher use in mainstream parties and beverage drinking, while other types are limited to a certain dish or dessert. Therefore, different sizes of ice cubes are produced along with the latest addition of spherical ice cubes that people take with alcoholic and non-alcoholic drinks. The ice cubes also gain higher traction due to their commonality and easy-to-produce prospects.

Which Mount Type Segment holds the biggest share in Commercial Ice Making Machine Market?

The free-standing mount type gains the highest traction for commercial ice-making machines. The segment is likely to thrive at a CAGR of 6.1% by 2032. The factor that has driven the sales of this free-standing mount segment is its integration with different business sizes, such as small. Another factor is the low maintenance and high resale value.

Country-Wise Analysis

United States of America holds the biggest share in the global egg grading machines market with an anticipated share of US$ 123.3 Million in 2033. Through this value, the US market for egg grading machines market is expected to grow at a CAGR of 6.8% between 2023 and 2033. The US has become the biggest region because of the higher consumption, more FMCG start-ups, and the presence of a higher number of restaurants and bar chains all around the nation. The new cuisines lending in with classic American beverages and their link with ice have pushed bar owners to have their own ice-making machines.

United Kingdom thrives at the highest CAGR of 8% owing to the higher beverage consumption.

While the United Kingdom is expected to cross a value of US$ 34.5 Million by 2033. Through the value, the UK market for commercial ice-making1 machine market is likely to grow at a CAGR of 8.0% between 2023 and 2033. The increased number of small-scale bars and cafes has fueled the growth of the commercial ice-making machine market in the adoption of multi-layered ice-making machines with customization available.

China becomes the second fastest growing market in the world with a CAGR of 7.9% (2023 to 2033).

China becomes the second fastest growing region in the global commercial ice-making machine market with an anticipated share of US$ 74.1 million in 2033. Through this value, the US market for ice-making machines market is expected to grow at a CAGR of 7.9% between 2023 and 2033. Rising urbanization, along with multiple tourist spots serving decent mocktails and cocktails with various kinds of ice, is attributing to the growth of the market.

Japan thrives with a healthy CAGR of 6.5% (2023 to 2033) owing its growth to higher alcohol consumption and an enhanced FMCG economy.

Japan is expected to cross a value of US$ 31.1 Million by 2033. Through the value, the Japanese market commercial ice-making machine market is likely to grow at a healthy CAGR of 6.5% between 2023 and 2033. Higher alcohol consumption amongst youngsters coupled with new bars and food outlets opening up that are global in nature. These places serve all kinds of international cuisines. Therefore, it becomes necessary to have a commercial ice-making machine for producing various ice kinds.

Increased lifestyle and the rising number of bars and restaurants are generating demand for ice-making machines.

South Korea is anticipated to cross a value of US$ 12.3 Million by 2033. Through the value, the South Korean market for commercial ice-making machine market is likely to grow at an average CAGR of 4.8% between 2023 and 2033, while it thrived at a slower CAGR of 4.2% between 2017 and 2022. The upshift is due to cultural change and the rising number of bars and cafes around the major cities of South Korea.

Start-up Analysis

The rising ice business, with the pharmaceuticals and healthcare industry consuming ice for storing human organs for research and treatment, is demanding new technologically advanced ice makers that increase commercial productivity while delivering ice of different sizes and shapes.

Competitive Landscape

The rising demand for ice and the advent of advanced technologies have made the competition high and tight. Brands are experimenting with technology and prices to understand the customer's intent. The global cuisine penetration and online food delivery services have reshaped ice production and export. Now, people are opening their small-capacity commercial ice-making machines to benefit medium-sized food outlets. Therefore, brands are experimenting with the compressor and design of these commercial ice-making machine units.

Recent Market Developments:

  • Hoshizaki America, Inc. has introduced its long-range of ice makers and ice storage. Ice makers involve top hat cubers, remote AC, water-cooled, and stackable in nature.
  • Scotsman Ice Systems has revisited their residential and commercial ice-making machines with the customization available on the basis of the primary application, model type, unit placement, and max available width.

Scope of Report

Report Attributes

Details

Commercial Ice making machine Market Size (2023)

US$ 267 Million

Projected Market Value (2033)

US$ 493.3 Million

Global Market Growth Rate (2022 to 2032)

6.3% CAGR

USA Market Value (2033)

US$ 123.3 Million

UK Market Value (2033)

US$ 34.5 Million

Key Companies Profiled

  • Hoshizaki America, Inc.
  • Scotsman Ice Systems
  • Manitowoc Ice
  • Newair
  • Cornelius, Inc.
  • Others

Key Segments

By Ice Type:

  • Bullet
  • Nugget
  • Cube

By Technology:

  • Air-cooled
  • Liquid-cooled

By Capacity:

  • <300
  • 300-500
  • 500-800
  • >800

By Mount Type:

  • Countertop
  • Freestanding

By Sales Channel:

  • Offline
  • Online

By Region:

  • North America
  • Europe
  • Latin America
  • East Asia
  • South Asia and ASEAN
  • Oceania
  • Middle East and Africa

Frequently Asked Questions

What is the current size of the Commercial Ice Making Machine market?

The global commercial commercial ice making machine market is valued at US$ 267 Million in 2023.

What is the projected market size for 2033?

Global demand for Commercial commercial ice making machine is projected to reach US$ 493.3 Million by 2033.

What is the expected Commercial Ice Making Machine Market growth?

Application of commercial ice making machine is expected to increase at a CAGR of 6.3% through 2032.

How big is the United States Commercial Ice Making Machine Market?

The United States market for commercial ice making machine is anticipated to be valued at US$ 123.3 Million by 2033.

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Commercial Ice Making Machine market