AFRICA UPRIGHT FREEZER MARKET FORECAST TO REACH $652.1 MILLION BY 2026
The Africa Upright Freezer Market forecast to reach $652.1 million by 2026, growing at a CAGR of 5.6% from 2021 to 2026. The significant rise in the demand for Africa 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 based on Le Bel-Van’t-Hoff’s rule in the production is set to impact on the growth of the Africa Upright Freezer market. Upright freezer is a vertical refrigeration unit unlike chest freezers which comes in a horizontal unit with an ergonomic door handle. 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 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 Africa Upright freezer market. However the major demand for the market remains the growing adoption due to Covid-19 driven vaccine freezer adoption.
Africa Upright Freezer Market Segment Analysis – By Type
By type the market for upright freezers has been segmented into single 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 68.4% in 2020 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 Africa region owing to the growing urban population is set to be the major factor contributing to the growth of the market.
Africa Upright Freezer Market Segment Analysis – By End user
Pharmaceutical sector is analysed to hold highest share at 29.4% in the Africa upright freezers market in 2020. This is majorly attributed to the significant demand for storing the medicines. In Africa the people majorly suffer with Typhoid, yellow fever, and other such diseases. The oral medication of these diseases has to be refrigerated. Therefore the significant deployment of freezers in preservation of the medication is set to escalate the market growth rate during the forecast period 2021-2026. Retail is analysed to hold significant share in the upright freezer market in 2020. The high deployment of upright freezers in preserving food and beverages in the food retail sector owing to the rising urban population is set to contribute to the growth of the market.
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Africa Upright Freezer Market Segment Analysis – By Geography
South Africa is analysed to hold the highest market share at 29.5% in the upright freezer market in 2020, majorly attributed to the rapid urbanization and the demand for the frozen foods. As stated by parliamentary monitoring group, 63% of South Africans are already living in urban areas and the statistics show this will rise to 71% by 2030. Adding to this, the strong retail sector in the country is also contributing to the upright freezer market demand. As stated by USDA, South African food retail sales accounted to $54.3 billion in 2020, this sector is well developed and aggressively expanding into other African countries. Therefore the significant employment of the upright freezers in the preservation of the perishable goods is set to escalate the market growth rate during the forecast period 2021-2026.
Africa Upright Freezer Market Drivers
Increasing demand for ultra-low freezers in medical applications
The demand for ultra-low freezers in the storage of the pharmaceutical goods such as medicines and so on is set to be the key driving factor for the upright freezers market. In October 2019, Panasonic has launched TwinGuard Series Upright Freezer majorly for the medical applications. Therefore the significant rise in the product developments in the ultra-low freezers owing to their applications is set to escalate the market growth of upright freezers during the forecast period 2021-2026.
Growing demand for frozen foods in urban areas
Although Africa comprises many developing countries, the significant usage of the upright freezers in the urban region is set to impact on the growth of the market. The upright freezers are highly employed in preserving the frozen foods and the rise in demand for the frozen ready to eat foods in South Africa, Egypt and so on is significantly impacting on the growth of the market growth rate. The rapid urbanization of the South Africa alongside the growing the software offices, manufacturing industries is set to be key factor driving the demand for frozen foods thereby escalating the market growth rate.
Africa 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.
Africa Upright Freezer Market Landscape
Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Africa Upright Freezer market. Africa 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 and Danby Products ltd. among others.
Acquisitions/Technology Launches/Partnerships
In April 2021, Eppendorf AG Acquired Koki’s Centrifuge Business to Strengthen its Position in the upright freezer market.
In March 2021, Biolife announced that it has closed the acquisition of Stirling Ultracold, a privately held manufacturer of ultra-low temperature mechanical upright freezers.
Key Takeaways
Retail is analysed to hold highest market share in the upright freezer market owing to the high number of expansions and investments.
Brazil 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 Africa region is set to elevate the Africa Upright Freezers market during the forecast period.
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