Global Display Cabinets Market Outlook
In previous decades, retailers are focused on increase their spending on showroom infrastructure for better representation of products. This trend has significantly boosted the adoption of display cabinets in commercial stores across the world.
Moreover, display cabinets have high penetration in both residential and commercial sectors. The display cabinets market is expected to register growth in the coming years due to increasing applications in the commercial sectors.
There is a availability of display cabinets under the name of display cases in various countries and retail stores. Display cabinets are used in sectors like the bakery industry, restaurants, hypermarkets and supermarkets, and many other retail stores. However, the rising demand for refrigerated display cabinets is further expected to fuel market growth.
Apart from this, the extensive use of display cabinets in museums and exhibitions are further expected to facilitate growth. The growing rented cabinet display business is also expected to positively impact market growth in the coming years. The players in the market are currently providing personalized solutions in terms of size designs and styles that best match the requirements of end-users.
Global Display Cabinets Market: Market Dynamics
Drivers for Display Cabinets Market
The demand for display cabinets from the retail businesses and foodservice centers are expected to drive the market growth. The increasing demand for grab-N-Go display cabinets with a rising number of self-service food chains are expected to fuel market growth.
The visual merchandising strategy, opted by the retail businesses, to encourage purchases has played a significant role in facilitating the market growth. This is one of the factors that will continue to fuel display cabinets market growth in the coming years.
Trends for Display Cabinets Market
A key trend adopted by the key players in the display cabinets market includes offering personalized solutions to the customers on the basis of end-use. The players are providing personalized cabinet displays in terms of styles, design, a size that can best match the end-use requirements and décor.
The personalization is also done in terms of technology like temperature and humidity control features and hydraulic designs and many others. Offering such personalized solutions is helping companies gain a competitive advantage in the market.
Opportunities for Display Cabinets Market
The development of eco-friendly cabinets will open up new opportunities for the payers in the market due to the transformational shift in consumer preferences towards sustainability.
The eco-friendly concept is also prominent in foodservice industries which have prompted high demand for eco-friendly display cabinets in the market. Considering such aspects while product development will help open up new opportunities for the players in the market.
Challenges for Display Cabinets Market
The recent pandemic outbreak has caused an economic downswing. The outbreak of novel coronavirus has impacted the regular operations in the market. The decline in market demand and production has impacted investments, consumption, and exports.
This economic decline has impacted the financial position of many hard-hit sectors few of which include food-service sectors and other retail industries. To overcome this, the foodservice and retail sectors have reduced their discretionary spending directly impacting the temporary sales of display cabinets in the market which is the current big challenge faced by the display cabinet players.
Global Display Cabinets Market: Key Players
Some of the key players operating in the global display cabinets market are
- Ikea Group Corporation
- Welbit inc
- Turbo Air Inc
- Vollrath Company LLC
- AHT GmbH
- True Manufacturing Company
- Illinois Tool Works
- Standex International Corporation
- Aichinger GmbH
- Omcan Inc
- Hubert Company
- Dover Corporation
These players are expected to positively influence growth of the display cabinets market during the forecast period. Growing online penetration has also facilitated display cabinets market growth during the forecast period.
Display Cabinets Market: Regional Outlook
High penetration of foodservice industries and retail sector has facilitated market growth in North America and Europe in the past years.
Other regions like Asia-Pacific, and Oceania are also expected to register growth in the coming years. This is attributable to the fact of high adoption of visual display marketing tactics in the physical retail stores in these regions. Other regions like Latin America and Oceania are expected to register stable growth due to high penetration of foodservice industry where display cabinets are most preferred.
Display Cabinets Market: Market Segmentation
- Refrigerated Display Cabinets
- Non-Refrigerated Display Cabinets
- Bars, restaurants, and cafes
- Direct Sales
- Online Retail Sales
- Specialty Stores
- Multi-Brand Stores
- Wholesalers and Distributors
- Other Sales Channels