Ice Maker Market - By Product Type (Ice cubes, Ice flakes, Ice nuggets), By Application (Healthcare industry, Hospitality industry, Food and beverage industry, Hotels & restaurants, Convenience stores), Forecast 2024 - 2032

Ice Maker Market Size

Ice Maker Market size was valued at USD 2.5 billion in 2023 and is estimated to register a CAGR of 3.7% between 2024 & 2032. The food service industry, which includes restaurants, hotels, bars, and cafes, is a significant consumer of ice makers. As the food service sector expands globally due to urbanization, changing consumer lifestyles, and increasing disposable incomes, the demand for ice makers rises.
 

The demand for industrial ice producers is being driven by the growth of cold chain logistics, which is being fuelled by the food and pharmaceutical industries. To preserve the nutritional value and freshness of perishable goods during storage and transit, these ice makers are utilized in cold storage facilities and in transportation.
 

The ice maker market can pose challenges to the small businesses because of intense competition. Intense competition can lead to pricing pressures, reduced profit margins, and increased marketing expenses. Additionally, the evolving consumer preferences and trends, such as the shift towards healthier lifestyles and alternative beverages, can impact the demand for ice makers and ice products. Businesses need to adapt their products to align with changing consumer preferences and stay relevant in the market.
 

Ice Maker Market Trends

There are increasing trends in the market such as, the integration of smart technology into ice makers enables remote diagnosis, control, and observation.  smartphone apps or cloud-based platforms, smart features allow users to modify ice production settings, track ice levels, and receive notifications for maintenance needs. Customization has also played a significant role in market. The foodservice sector and specialty beverage sectors are seeing a rise in demand for customized ice cubes, nugget ice, and resembling ice. To meet a wide range of consumer tastes, manufacturers are now creating ice producers that can produce multiple forms of ice.
 

Ice Maker Market Analysis

Based on product type, the market is divided into ice cubes, ice flakes, ice nuggets. Ice cubes segment accounting for USD 1.1 billion in 2023 and expected to reach USD 1.70 billion by 2032. Clear and consistent ice cubes are in increasing demand since they improve the appearance and quality of drinks, especially in luxury pubs and restaurants. The ease of always having ice cubes on hand at home is another factor influencing customer purchasing. As consumer and business expectations change, manufacturers are concentrating on creating ice machines that can produce high-quality, crystal-clear ice cubes.
 

Based on application, the ice maker market is categorized into healthcare industry, hospitality industry, food and beverage industry, hotels & restaurants industry, convenience stores. In 2023, the food and beverage segment forheld a market share of about 47% and expected to generate market revenue USD 1.65 billion by 2032. Ice makers are critical to the hospitality sector, which includes bars, hotels, and restaurants, as they allow the freshness of food and drink service. Ice is necessary for patient care and medical supply storage in healthcare institutions. Ice makers are used by supermarkets and convenience stores to display drinks and seafood. Ice is becoming more and more in demand at foodservice companies due to the growing popularity of takeout and delivery services.
 

North America dominated the ice maker market, generating USD 755 million in 2023 and expected to reach USD 1.07 billion by 2032, driven by rising consumer demand and evolving lifestyle trends. Sales for residential ice makers are going to increase as more people want the convenience of making ice at home. Furthermore, the region's growing restaurant, bar, and hotel industry is driving up demand for commercial ice makers.
 

Ice Maker Market Share

In 2023, dominant market players including Hoshizaki Corporation, Manitowoc Ice, Scotsman Ice Systems, Follet corporation, Cornelius, Inc. collectively held 20% - 25% market share. As the market is highly fragmented, these industry leaders are actively engaged in strategic initiatives such as mergers & acquisitions, facility expansion, and partnerships to broaden their product portfolios, reach a wider customer base, and strengthen their market presence. These companies continuously invest in research & development to improve their products and incorporate new technologies, allowing them to stay ahead of the competition.
 

Ice Maker Market Companies

Major players operating in the ice maker industry are:

• Hoshizaki Corporation
• Manitowoc Ice
• Scotsman Ice Systems
• Follet corporation
• Cornelius, Inc.
• Ice-o-Matic
• KOLD-DRAFT
• Brema Ice Makers
• Icematic
• Marx Ice
• Marvel Refrigeration
• U-Line Corporation
• Polar Ice
• Howe Corporation
• Newair
   

Ice Maker Market Industry News

• In July 2023, eCozy launched a compact sized ice maker, which claimed that they are 40% smaller in size and yet they produce 37% more ice as compared to conventional ice maker machines.
   

The ice maker market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) and volume in (Thousand Units) from 2021 to 2032, for the following segments:

Click here to Buy Section of this Report

Market, By Product Type

• Ice cubes
• Ice flakes
• Ice nuggets

Market, By Application

• Healthcare industry
• Hospitality industry
• Food & beverage industry
• Hotels & restaurants
• Convenience stores

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Russia
  • Belgium
  • Sweden
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Thailand
  • Vietnam
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• MEA
  • UAE
  • Saudi Arabia
  • South Africa
  • Iran
  • Turkey
  • Rest of MEA