Global Ice Flaker Market 2017-2021

Global ice flaker market forecast

According to Technavio’s market research analyst, the global market for ice flakers will grow at a CAGR of over 8% by 2020. The recent rise in organized retail outlets will help in ice flaker market growth during the predicted period. It has been noted that the organized retail sector in developed countries like the US and the UK is established and is becoming significantly popular in developing countries such as China, India, and Brazil. The recent change in consumers’ lifestyle has led to the high demand for an array of frozen and chilled food, which, in turn, has driven the demand for flake ice from the organized retail segment. Supermarkets, hypermarkets, forecourt retailers, discounters, and convenience stores have multiplied over the years and are investing in better technologies to provide consumers with convenience and chilled food products that are safe to consume. Additionally, it has also been noted that the continuous rise in consumers’ income level offers a growth opportunity to the vendors in this market.

In terms of geography, it has been noted that the Americas dominated this market during 2016 and will retain its dominant market position until the end of 2021. Recent market research carried out by the analysts at Technavio show that the ice flaker market in the US is the largest among all the countries in the Americas since it is home to a large number of food retail and foodservice industries. Additionally, the consumers in the US have a more sophisticated food requirement; thus, driving the need to import and store specialty food products that require large quantities of flake ice. This will lead to the growth of the flake ice makers market. 

Competitive landscape and key vendors