The market for Africa Upright Freezer is forecast to reach $581.94 million by 2025, growing at a CAGR of 5.27% from 2020 to 2025. The significant rising requirement of medicines in Africa is set to boost the demand for upright freezers thereby elevating the market growth rate during the forecast period 2020-2025. The significant rise in the expansion for the food and beverage industry and the growing employment of the upright freezers in the production is set to impact on the growth of the Africa Upright Freezer market.
By type the market for upright freezers has been segmented into single door and double door. Single door freezers are employed in the low storage requirement and double door freezer is deployed in high storage requirement. Double door freezers are set to hold highest market share and are analysed to grow at highest rate during the forecast period owing to their applications in the medical, retail and food and beverage industry. In medical sector the double door fridges are employed to store blood, medicines and other consumables. Therefore the significant demand for the medical goods in Africa is set to escalate the market growth rate.
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By End user- Segment Analysis
Pharmaceutical sector is analysed to hold highest share in the Africa upright freezers market. This is majorly attributed to the significant demand for storing the medicines. In Africa the people majorly suffer with Typhoid, yellow fever, and other such diseases. The oral medication of these diseases has to be refrigerated. Therefore the significant deployment of freezers in preservation of the medication is set to escalate the market growth rate during the forecast period 2020-2025. Retail is analysed to hold significant share in the upright freezer market in 2019. The high deployment of upright freezers in preserving food and beverages in the food retail sector owing to the rising urban population is set to contribute to the growth of the market.
Geography – Segment Analysis
South Africa is analysed to hold the highest market share at 28% in the upright freezer market in 2019, majorly attributed to the rapid urbanization and the demand for the frozen foods. As stated by parliamentary monitoring group, 63% of South Africans are already living in urban areas and the statistics show this will rise to 71% by 2030. Adding to this, the strong retail sector in the country is also contributing to the upright freezer market demand. As stated by USDA, South African food retail sales accounted to $52.2 billion in 2018, this sector is well developed and aggressively expanding into other African countries. Therefore the significant employment of the upright freezers in the preservation of the perishable goods is set to escalate the market growth rate during the forecast period 2020-2025.
Drivers – AFRICA Upright Freezer market
Increasing demand for ultra-low freezers in medical applications
The demand for ultra-low freezers in the storage of the pharmaceutical goods such as medicines is set to be the key driving factor for the upright freezers market. In October 2017, Panasonic has launched VIP ECO Ultra Low Temperature Upright Freezer majorly for the medical applications. Therefore the significant rise in the product developments in the ultra-low freezers owing to their applications is set to escalate the market growth of upright freezers during the forecast period 2020-2025.
Growing demand for frozen foods in urban areas.
Although Africa comprises many developing countries, the significant usage of the upright freezers in the urban region is set to impact on the growth of the market. The upright freezers are highly employed in preserving the frozen foods and the rise in demand for the frozen ready to eat foods in South Africa, Egypt and so on is significantly impacting on the growth of the market growth rate. The rapid urbanization of the South Africa alongside the growing the software offices, manufacturing industries is set to be key factor driving the demand for frozen foods thereby escalating the market growth rate.
Challenges – Africa Upright Freezer market
High energy conservation standards and availability of alternatives:
The growing energy conservation standards and availability of the alternatives is expected to be key constraint for the growth of the upright freezer market. The adoption of the freezer rooms in the food and beverage industries and warehouses of various industries including pharmaceutical, healthcare and so on instead of the individual freezers is set to hinder the market growth rate during the forecast period.
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Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Africa Upright Freezer market. Africa Upright Freezer driver market is expected to be dominated by major companies such as Bosch AG, Whirlpool corp., LG Corp., Samsung Electronics, Metalfrio solutions, Haier Group corp., and Danby Products ltd. among others.
In October 2017, Panasonic has launched VIP ECO Ultra Low Temperature Upright Freezer majorly for the medical applications.
Pharmaceutical sector is analysed to hold highest market share in the upright freezer market owing to the high number of expansions and investments.
South Africa is analysed to hold the highest share at 28% in the upright freezer market owing to the high requirement in the preservation of the medicines.
The rising demand for ultra-low freezers for the preservation of medicines in Africa region is set to elevate the Africa Upright Freezers market during the forecast period.
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