The Middle East and Africa (MEA) commercial refrigeration equipment market is set for lucrative growth in the coming years, as per the estimates of P&S Intelligence, a market research company based in India. The market is being driven by the rapid development of various organized retail chains, hypermarkets, and supermarkets, the rising popularity of ready-to-eat food items, and the soaring imports of various frozen meat products all over the region.
The developing nations of MEA such as Egypt, South Africa, Algeria, and Morocco are witnessing the rapid development of hypermarkets, supermarkets, and restaurants, on account of the rising urbanization rate and the increasing implementation of favorable government policies. Moreover, the surging disposable income and purchasing power of people and the expansion of the food retail industry and grocery stores in these countries are massively boosting the sales of refrigeration equipment in the MEA region.
Additionally, several regional governments and private organizations are making huge investments in infrastructural development projects and the development of strong digital platforms, which is transforming the retail landscape of MEA. Furthermore, the organized retail sector is exhibiting rapid expansion in Qatar, Saudi Arabia, and the U.A.E. According to various reports, the organized retail industry will register growth rates of 9%, 17%, 8.5%, 9.5%, and 18% in Saudi Arabia, Qatar, Kuwait, the U.A.E., and Oman respectively in the coming years.
Depending on equipment type, the market is classified into beverage refrigeration, walk-in coolers, transportation refrigeration equipment, ice making machineries, display cases, parts, and various other equipment. Out of these, the walk-in coolers category recorded the highest growth in the market during the last few years. Moreover, this category is predicted to demonstrate the highest growth in the market in the forthcoming years, on account of the mushrooming demand for food products and beverages in the region.
When end-user is taken into consideration, the MEA commercial refrigeration equipment market is divided into hypermarkets, supermarkets, convenience stores, e-commerce, hotels/restaurants and catering, and others such as educational institutions, hospitals, large pharmaceutical stores, and the medical and life sciences sector. Out of these, the hotels/restaurants and catering category recorded the highest growth in the market in the past years. This was because of the boom in the tourism sector, especially in Qatar, the U.A.E., South Africa, and Kuwait.
Based on application, the MEA commercial refrigeration equipment market is divided into food and beverage distribution, food service, food and beverage retail, genetic preservation, pharmacy refrigeration, and medical diagnostic categories. Out of these, the food & beverage retail category registered huge expansion in the market during the last few years and this trend will continue in the coming years as well, on account of the thriving tourism sector in the regional countries such as the U.A.E. and Qatar.
Hence, it can be said with full surety that the market will exhibit huge expansion in the future years, mainly because of the growing demand for food items and beverages and the rising popularity of ready-to-eat food products in the MEA region.
