Commercial refrigeration equipment market to soar in the coming decade

peasThe propagation of our modern lifestyle is fuelling the demand for commercial refrigeration equipment. According to a new report by Grand View Research, Inc. this market could reach up to $46.4 billion globally by 2022.
It is actually the growing frozen food industry that is leading the growth of the commercial refrigeration market. Indeed, the frozen food market has been growing steadily for several decades now and is likely to keep on growing in the future. Several factors can explain this impressive growth and are detailed below:

1- An efficient and reliable technology

The evolution of the freezing techniques has enabled to freeze almost any kind of food. Fresh products such as fruits and vegetables can even now be frozen without altering their taste, texture or nutritional value (depending of course of their quality at the time of freezing). Frozen food is therefore as nutritionally beneficial as fresh food.

Moreover, freezing food makes it safer for consumption: the freezing process stops the movement of microbes and prevents the growth of microorganisms that could cause food spoilage and foodborne illnesses. It therefore helps avoiding waste as cooked food can be kept for future consumption.

On top of that, freezing food enables consumers to benefit from a greater variety: seasonal fruits and vegetables can now be consumed at any time of the year at an affordable price.

2- Demographics evolution

The surging number of working population along with the rise of disposable income means that people can now afford to pay for more elaborate frozen dishes.

Another important demographic criteria to take into account for explaining the popularity of frozen food is the growing population of working women. Indeed, women traditionally being more inclined to cook than men in the household, an increase in the number of working women means an increase in money spent on ready-to-eat meals. Nowadays, the majority of working women in western countries don’t cook at home anymore, so much that working women would actually be the major factor driving the global frozen food market.

3- Change of lifestyle

Our busy lifestyles have also fuelled the demand for products of quality, easy to stock and to cook. More and more time is spent at work because of a demanding work culture which means that less time is spent cooking at home. Hectic lifestyles have pushed us to opt for ready-to-eat meals and frozen food have now taken a central part in the modern diet.

Photo by Pixabay