Global Freezer Market Trends 2021

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Global Freezer Market
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A study recently conducted by the strategic
consulting and market research firm, BlueWeave
Consulting, revealed that the global freezer
market was worth USD 13.7 billion in 2020 and is
further projected to reach USD 17.8 billion by
2027, at a CAGR of 3.8 during the forecast
period (2021-2027). The global freezer market is
being driven by the rising numbers of nuclear
families and growing investments in the
innovation of refrigerators. Rising income
levels, as well as the availability of various
financing options, are some of the main trends
driving the market growth. Increasing Number of
Restaurants and Supermarket The global freezer
market is booming as more restaurants and
supermarkets are opening their doors around the
world. At the same time, the requirements for
large storage facilities for storing vegetables,
meat, and other packed food items are rising in
restaurants. Also, new supermarkets are being
established with a customer-centric approach in
order to boost sales. As per an article published
in January 2020, a leading supermarket retailer
has seen an increase in walk-in sales from 20 to
40 when they used programs like in-store
pop-ups, events, and cooking classes.
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Availability of Several Financing Schemes   A lot
of people are migrating to Tier I cities as a
result of urbanization, thus raising their living
standards, which in turn is increasing the demand
for high-tech, advanced home appliances, such as
the refrigerator. Furthermore, the availability
of multiple payment options is fueling the global
freezer market. Many banks have introduced
funding programs, with or without collaboration
with key market players. This allows consumers to
own items they want without having to pay the
full price at the time of purchase. Furthermore,
several banks and e-commerce giants
are launching seasonal sales and discount deals
on home appliances, allowing the global freezer
market to grow by leaps and bounds.   Read
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eezer-market-report/report-sample