Clear ice makers are industrial machines or home appliances that are used to prepare clear ice for different applications. Such appliances help in making clear ice in the form of cubes, nuggets, and flakes, among others. Clear ice makers function on the principle of freezing water from one direction only, resulting in the formation of clear ice without any impurities or air bubbles. The global clear ice makers market is expected to register a notable growth rate of 6.27% during the forecast period of 2019 to 2025.
The expansion of the foodservice industry is one of the major determinants driving market growth for clear ice makers. The growth of the market can also be attributed to the increasing use of clear ice makers in households. However, the need for high initial investments acts as an entry barrier for the new players and is, thus, hampering the growth of the market. Vendors active in the global clear ice makers market are expected to witness profitable growth opportunities in the coming years due to the launch of new and innovative products.
The global clear ice makers market has been segmented, based on type, into flake ice makers, ice cube makers, nugget ice makers, and others. The market has been divided, on the basis of category, into mass-market and premium. The end user segments of the market are residential and commercial. By distribution channel, the market has been classified as store-based and non-store-based. The store-based segment has further been divided into supermarkets & hypermarkets, specialty stores, and others.
The global clear ice makers market has been segmented, based on region, into North America, Europe, Asia-Pacific, and the rest of the world. North America dominated the global market for clear ice makers in 2018 owing to the presence of a well-established foodservice industry in the region, especially the US. Europe accounted for the second-largest market share in 2018 due to the launch of premium products in the region and increasing customer expenditure on home appliances.
The UK, Germany, and France are the major country-level markets contributing to the regional market growth. The fastest-growing regional market during the forecast period is expected to be Asia-Pacific at a CAGR of 6.71%. The regional market growth can be attributed to rapid urbanization and the growing number of restaurants and bars. Additionally, increasing consumption of alcoholic beverages, rising per capita disposable income, and growing awareness about clear ice makers are also fueling the growth of the Asia-Pacific market. South America was the largest revenue-generating regional market in the rest of the world while the market in the Middle East is expected to register the highest CAGR during the forecast period of 2019 to 2025.
Product launches, mergers, expansions, and acquisitions are the key strategies adopted by the global players operating in the clear ice makers market. The notable players in the global clear ice makers market are Welbilt Inc. (US), Electrolux AB (Sweden), Sunpentown Inc. (US), Hoshizaki Corporation (Japan), Igloo Products Corp. (US), NewAir (US), Himalyanequipment Manufacturing Co. (India), Koller Refrigeration & Equipment (Hong Kong), Cornelius, Inc. (US), and Ice-O-Matic (US).