Market Outlook
According to the MRFR reports, the global clear ice makers market will register a robust CAGR of 6.27% over the review timeframe. The market is projected to attain a size of over USD 3,047.1 Million by 2027.
The global clear ice makers market share has witnessed enormous growth over recent years. The growth of the market is being driven by the expansion of the food industry globally, the proliferation of the home appliance industry, technological advances, and the rising consumer preference for transparent ice cubes, bars, or chips. Furthermore, the launch of new products, growth in demand from restaurants and domestic customers, and notable reductions in energy consumption are also likely to boost the market growth over the forecasted era. However, the high initial investments might impede the growth of the clear ice makers market over the assessment period.
Competitive Analysis
The global Clear Ice Makers Market Research for has a strong and competitive landscape. The list of leading players in the market worldwide includes Ice-O -Matic (USA), Whynter LLC (USA), NewAir (USA), Koller Refrigeration Equipment (Hong Kong), Himalyanequipment Manufacturing Co. (India), Scottish Ice Cream Machines (USA), Igloo Products Corp. (USA), Sunpentown Inc. (USA), Welbilt Inc. (United States), Cornelius, Inc. (the USA), Hoshizaki Corporation (Japan), Electrolux AB (Sweden), and several others.
Segment Analysis
The global market for clear ice makers is bifurcated into several segments based on category, product type, end-users, distribution channels, and region.
Based on category, the global market is split into premium and mass-market.
The market is divided into nugget ice makers, ice cube makers, flake ice makers, and others by product type.
Considering the end-users, the clear ice makers market is divided into commercial and residential.
By the distribution channel, the global market is divided into store-based and non-store-based.
Regional Analysis
The global clear ice makers market is studied across five major regions: North America, Europe, Asia-Pacific, South America, and the Middle East Africa.
The North American regional market for clear ice makers dominated the field globally in 2018b with the maximum market share of over 35.64%. The regional market's growth is attributed to the high proportion of purchases of electronic devices and consistent technological advances. The United States and Canada are the highest growing contributors to the regional market.
The European regional clear ice makers market report secures the second position globally. The regional market's growth is being driven by the improvement of the economy and the rising demand for convenient home appliances across the region. Furthermore, the rise in the per capita income of demographics is another vital aspect boosting the regional market's growth. The regional market is projected to register a substantial growth rate over the review timeframe.
The Asia-Pacific regional clear ice makers market trends is growing rapidly. The regional market's growth is being boosted by the growth of the middle-income population and speedy urbanization. Furthermore, the increased consumption of alcoholic beverages, the increased demand for home appliances, the presence of large manufacturers, and the humid climate are also projected to accelerate the regional market's growth. The regional market is anticipated to exhibit a CAGR of 6.71% over the review timeframe.
Recent Developments
June 2021- A Germany-based company Aldi has launched the latest ice cube maker, Ambiano. This new product promises to keep the drinks refreshing, cool, and chill. Complete with an ice scoop and removable basket, this machine makes ice in a matter of minutes, taking up to 7-8 minutes at most. The ice maker even comes with a self-cleaning function so that users always get delicious-tasting, fresh ice on tap.
October 2021 – a new kitchenware brand that focuses on providing quality smart products, Qualeben, has launched a new nugget ice maker, the company's first ice maker for the market called Munch, targeting chewable nugget ice the device produces. The product has numerous functions and features, making it user-friendly and competitive.
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