Global Commercial Food and Biomedical Refrigerators and Freezers Market to Reach USD 59.40 Billion by 2032
The Global Commercial Food and Biomedical Refrigerators and Freezers Market was valued at USD 36.69 billion in 2023 and is projected to grow at a CAGR of 5.5% during the forecast period 2024-2032. As global demand for reliable and energy-efficient refrigeration solutions surges across various industries, including food retail, hospitality, healthcare, and pharmaceuticals, manufacturers are increasingly investing in cutting-edge cooling technologies. These refrigeration systems play a critical role in preserving perishable goods, maintaining biomedical product integrity, and ensuring compliance with stringent regulatory standards.
The rising global demand for cold chain logistics and temperature-controlled storage solutions is a key driver of market expansion. In the foodservice sector, restaurants, hotels, and retail chains rely heavily on commercial refrigeration to extend the shelf life of perishable items and maintain food safety standards. Meanwhile, in the biomedical sector, hospitals, research institutions, and pharmaceutical companies require advanced refrigeration systems for storing vaccines, blood samples, and biopharmaceuticals at precise temperatures. Furthermore, advancements in eco-friendly refrigerants and energy-efficient cooling systems are transforming the industry, as businesses seek to reduce carbon footprints and comply with environmental regulations. However, high operational costs, stringent energy regulations, and the need for continuous maintenance may act as potential barriers to widespread market adoption.
Regionally, North America dominated the global commercial food and biomedical refrigerators and freezers market in 2023, driven by stringent food safety regulations, advanced healthcare infrastructure, and increasing demand for energy-efficient refrigeration solutions. The United States and Canada are leading the region in investments in smart refrigeration systems, particularly in the hospitality and pharmaceutical sectors. Meanwhile, Europe is witnessing steady growth, propelled by rising government initiatives aimed at reducing greenhouse gas emissions and adopting sustainable cooling technologies. On the other hand, Asia-Pacific is expected to emerge as the fastest-growing market, fueled by rapid urbanization, growing middle-class populations, and increasing adoption of modern cold storage solutions in China, India, and Southeast Asia.
Major market players included in this report are:
By Offering:
By Capacity
By Distribution Channel
By Region:
North America
The rising global demand for cold chain logistics and temperature-controlled storage solutions is a key driver of market expansion. In the foodservice sector, restaurants, hotels, and retail chains rely heavily on commercial refrigeration to extend the shelf life of perishable items and maintain food safety standards. Meanwhile, in the biomedical sector, hospitals, research institutions, and pharmaceutical companies require advanced refrigeration systems for storing vaccines, blood samples, and biopharmaceuticals at precise temperatures. Furthermore, advancements in eco-friendly refrigerants and energy-efficient cooling systems are transforming the industry, as businesses seek to reduce carbon footprints and comply with environmental regulations. However, high operational costs, stringent energy regulations, and the need for continuous maintenance may act as potential barriers to widespread market adoption.
Regionally, North America dominated the global commercial food and biomedical refrigerators and freezers market in 2023, driven by stringent food safety regulations, advanced healthcare infrastructure, and increasing demand for energy-efficient refrigeration solutions. The United States and Canada are leading the region in investments in smart refrigeration systems, particularly in the hospitality and pharmaceutical sectors. Meanwhile, Europe is witnessing steady growth, propelled by rising government initiatives aimed at reducing greenhouse gas emissions and adopting sustainable cooling technologies. On the other hand, Asia-Pacific is expected to emerge as the fastest-growing market, fueled by rapid urbanization, growing middle-class populations, and increasing adoption of modern cold storage solutions in China, India, and Southeast Asia.
Major market players included in this report are:
- Carrier Global Corporation
- Haier Biomedical
- Liebherr-International AG
- Panasonic Healthcare Co., Ltd.
- Blue Star Limited
- Thermo Fisher Scientific Inc.
- Danfoss A/S
- Felix Storch, Inc.
- Godrej & Boyce Manufacturing Co. Ltd.
- Eppendorf AG
- Vestfrost Solutions
- Trane Technologies plc
- Metalfrio Solutions
- Evermed S.R.L.
- Zhongke Meiling Cryogenics Company Limited
By Offering:
- Food
- Biomedical
By Capacity
By Distribution Channel
By Region:
North America
- U.S.
- Canada
- UK
- Germany
- France
- Spain
- Italy
- Rest of Europe
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia Pacific
- Brazil
- Mexico
- Rest of Latin America
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Historical Year – 2022
- Base Year – 2023
- Forecast Period – 2024 to 2032
- Market estimates and forecasts for 10 years from 2022 to 2032.
- Annualized revenue and regional-level analysis for each market segment.
- Competitive landscape analysis of key players in the market.
- Strategic insights into market trends, investment opportunities, and regulatory landscape.
- Comprehensive analysis of supply chain and demand-side factors driving market growth
CHAPTER 1. GLOBAL COMMERCIAL FOOD AND BIOMEDICAL REFRIGERATORS AND FREEZERS MARKET EXECUTIVE SUMMARY
1.1. Global Commercial Food and Biomedical Refrigerators and Freezers Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
1.3.1. By Offering (Food, Biomedical)
1.3.2. By End Use
1.3.3. By Capacity
1.3.4. By Distribution Channel
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion
CHAPTER 2. GLOBAL COMMERCIAL FOOD AND BIOMEDICAL REFRIGERATORS AND FREEZERS MARKET DEFINITION AND RESEARCH ASSUMPTIONS
2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
2.3.1. Inclusion & Exclusion
2.3.2. Limitations
2.3.3. Supply Side Analysis
2.3.3.1. Availability
2.3.3.2. Infrastructure
2.3.3.3. Regulatory Environment
2.3.3.4. Market Competition
2.3.3.5. Economic Viability (Consumer’s Perspective)
2.3.4. Demand Side Analysis
2.3.4.1. Regulatory Frameworks
2.3.4.2. Technological Advancements
2.3.4.3. Environmental Considerations
2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates
CHAPTER 3. GLOBAL COMMERCIAL FOOD AND BIOMEDICAL REFRIGERATORS AND FREEZERS MARKET DYNAMICS
3.1. Market Drivers
3.1.1. Increasing Demand for Energy-Efficient Refrigeration
3.1.2. Growing Investments in Cutting-Edge Cooling Technologies
3.1.3. Expanding Cold Chain Logistics Requirements
3.2. Market Challenges
3.2.1. High Operational and Maintenance Costs
3.2.2. Stringent Energy Regulations
3.2.3. Compliance with Strict Regulatory Standards
3.3. Market Opportunities
3.3.1. Growth in Emerging Markets (Asia-Pacific)
3.3.2. Adoption of Eco-Friendly Refrigerants and Sustainable Technologies
3.3.3. Investment in Smart Refrigeration Solutions
CHAPTER 4. GLOBAL COMMERCIAL FOOD AND BIOMEDICAL REFRIGERATORS AND FREEZERS MARKET INDUSTRY ANALYSIS
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model
4.1.7. Porter’s 5 Force Impact Analysis
4.2. PESTEL Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.2.5. Environmental
4.2.6. Legal
4.3. Top Investment Opportunity
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion
CHAPTER 5. GLOBAL COMMERCIAL FOOD AND BIOMEDICAL REFRIGERATORS AND FREEZERS MARKET SIZE & FORECASTS BY OFFERING 2022-2032
5.1. Segment Dashboard
5.2. Revenue Trend Analysis (USD Million/Billion)
5.2.1. Food Refrigeration Systems
5.2.2. Biomedical Refrigeration Systems
CHAPTER 6. GLOBAL COMMERCIAL FOOD AND BIOMEDICAL REFRIGERATORS AND FREEZERS MARKET SIZE & FORECASTS BY END USE 2022-2032
6.1. Segment Dashboard
6.2. Revenue Trend Analysis (USD Million/Billion)
6.2.1. Food Retail & Foodservice
6.2.2. Hospitality
6.2.3. Healthcare & Pharmaceuticals
6.2.4. Others
CHAPTER 7. GLOBAL COMMERCIAL FOOD AND BIOMEDICAL REFRIGERATORS AND FREEZERS MARKET SIZE & FORECASTS BY CAPACITY 2022-2032
7.1. Segment Dashboard
7.2. Revenue Trend Analysis (USD Million/Billion)
7.2.1. Low Capacity Systems
7.2.2. Medium Capacity Systems
7.2.3. High Capacity Systems
CHAPTER 8. GLOBAL COMMERCIAL FOOD AND BIOMEDICAL REFRIGERATORS AND FREEZERS MARKET SIZE & FORECASTS BY DISTRIBUTION CHANNEL 2022-2032
8.1. Segment Dashboard
8.2. Revenue Trend Analysis (USD Million/Billion)
8.2.1. Direct Sales
8.2.2. Indirect Sales
8.2.3. Online Sales
8.2.4. Others
CHAPTER 9. GLOBAL COMMERCIAL FOOD AND BIOMEDICAL REFRIGERATORS AND FREEZERS MARKET SIZE & FORECASTS BY REGION 2022-2032
9.1. North America
9.1.1. U.S.
9.1.2. Canada
9.2. Europe
9.2.1. U.K.
9.2.2. Germany
9.2.3. France
9.2.4. Spain
9.2.5. Italy
9.2.6. Rest of Europe
9.3. Asia-Pacific
9.3.1. China
9.3.2. India
9.3.3. Japan
9.3.4. Australia
9.3.5. South Korea
9.3.6. Rest of Asia-Pacific
9.4. Latin America
9.4.1. Brazil
9.4.2. Mexico
9.4.3. Rest of Latin America
9.5. Middle East & Africa
9.5.1. Saudi Arabia
9.5.2. South Africa
9.5.3. Rest of Middle East & Africa
CHAPTER 10. COMPETITIVE INTELLIGENCE
10.1. Key Company SWOT Analysis
10.1.1. Carrier Global Corporation
10.1.2. Haier Biomedical
10.1.3. Liebherr-International AG
10.2. Top Market Strategies
10.3. Company Profiles
10.3.1. Carrier Global Corporation
10.3.1.1. Key Information
10.3.1.2. Overview
10.3.1.3. Financial (Subject to Data Availability)
10.3.1.4. Product Summary
10.3.1.5. Market Strategies
10.3.2. Haier Biomedical
10.3.3. Liebherr-International AG
10.3.4. Panasonic Healthcare Co., Ltd.
10.3.5. Blue Star Limited
10.3.6. Thermo Fisher Scientific Inc.
10.3.7. Danfoss A/S
10.3.8. Felix Storch, Inc.
10.3.9. Godrej & Boyce Manufacturing Co. Ltd.
10.3.10. Eppendorf AG
10.3.11. Vestfrost Solutions
10.3.12. Trane Technologies plc
10.3.13. Metalfrio Solutions
10.3.14. Evermed S.R.L.
10.3.15. Zhongke Meiling Cryogenics Company Limited
CHAPTER 11. RESEARCH PROCESS
11.1. Research Process
11.1.1. Data Mining
11.1.2. Analysis
11.1.3. Market Estimation
11.1.4. Validation
11.1.5. Publishing
11.2. Research Attributes
1.1. Global Commercial Food and Biomedical Refrigerators and Freezers Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
1.3.1. By Offering (Food, Biomedical)
1.3.2. By End Use
1.3.3. By Capacity
1.3.4. By Distribution Channel
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion
CHAPTER 2. GLOBAL COMMERCIAL FOOD AND BIOMEDICAL REFRIGERATORS AND FREEZERS MARKET DEFINITION AND RESEARCH ASSUMPTIONS
2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
2.3.1. Inclusion & Exclusion
2.3.2. Limitations
2.3.3. Supply Side Analysis
2.3.3.1. Availability
2.3.3.2. Infrastructure
2.3.3.3. Regulatory Environment
2.3.3.4. Market Competition
2.3.3.5. Economic Viability (Consumer’s Perspective)
2.3.4. Demand Side Analysis
2.3.4.1. Regulatory Frameworks
2.3.4.2. Technological Advancements
2.3.4.3. Environmental Considerations
2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates
CHAPTER 3. GLOBAL COMMERCIAL FOOD AND BIOMEDICAL REFRIGERATORS AND FREEZERS MARKET DYNAMICS
3.1. Market Drivers
3.1.1. Increasing Demand for Energy-Efficient Refrigeration
3.1.2. Growing Investments in Cutting-Edge Cooling Technologies
3.1.3. Expanding Cold Chain Logistics Requirements
3.2. Market Challenges
3.2.1. High Operational and Maintenance Costs
3.2.2. Stringent Energy Regulations
3.2.3. Compliance with Strict Regulatory Standards
3.3. Market Opportunities
3.3.1. Growth in Emerging Markets (Asia-Pacific)
3.3.2. Adoption of Eco-Friendly Refrigerants and Sustainable Technologies
3.3.3. Investment in Smart Refrigeration Solutions
CHAPTER 4. GLOBAL COMMERCIAL FOOD AND BIOMEDICAL REFRIGERATORS AND FREEZERS MARKET INDUSTRY ANALYSIS
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model
4.1.7. Porter’s 5 Force Impact Analysis
4.2. PESTEL Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.2.5. Environmental
4.2.6. Legal
4.3. Top Investment Opportunity
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion
CHAPTER 5. GLOBAL COMMERCIAL FOOD AND BIOMEDICAL REFRIGERATORS AND FREEZERS MARKET SIZE & FORECASTS BY OFFERING 2022-2032
5.1. Segment Dashboard
5.2. Revenue Trend Analysis (USD Million/Billion)
5.2.1. Food Refrigeration Systems
5.2.2. Biomedical Refrigeration Systems
CHAPTER 6. GLOBAL COMMERCIAL FOOD AND BIOMEDICAL REFRIGERATORS AND FREEZERS MARKET SIZE & FORECASTS BY END USE 2022-2032
6.1. Segment Dashboard
6.2. Revenue Trend Analysis (USD Million/Billion)
6.2.1. Food Retail & Foodservice
6.2.2. Hospitality
6.2.3. Healthcare & Pharmaceuticals
6.2.4. Others
CHAPTER 7. GLOBAL COMMERCIAL FOOD AND BIOMEDICAL REFRIGERATORS AND FREEZERS MARKET SIZE & FORECASTS BY CAPACITY 2022-2032
7.1. Segment Dashboard
7.2. Revenue Trend Analysis (USD Million/Billion)
7.2.1. Low Capacity Systems
7.2.2. Medium Capacity Systems
7.2.3. High Capacity Systems
CHAPTER 8. GLOBAL COMMERCIAL FOOD AND BIOMEDICAL REFRIGERATORS AND FREEZERS MARKET SIZE & FORECASTS BY DISTRIBUTION CHANNEL 2022-2032
8.1. Segment Dashboard
8.2. Revenue Trend Analysis (USD Million/Billion)
8.2.1. Direct Sales
8.2.2. Indirect Sales
8.2.3. Online Sales
8.2.4. Others
CHAPTER 9. GLOBAL COMMERCIAL FOOD AND BIOMEDICAL REFRIGERATORS AND FREEZERS MARKET SIZE & FORECASTS BY REGION 2022-2032
9.1. North America
9.1.1. U.S.
9.1.2. Canada
9.2. Europe
9.2.1. U.K.
9.2.2. Germany
9.2.3. France
9.2.4. Spain
9.2.5. Italy
9.2.6. Rest of Europe
9.3. Asia-Pacific
9.3.1. China
9.3.2. India
9.3.3. Japan
9.3.4. Australia
9.3.5. South Korea
9.3.6. Rest of Asia-Pacific
9.4. Latin America
9.4.1. Brazil
9.4.2. Mexico
9.4.3. Rest of Latin America
9.5. Middle East & Africa
9.5.1. Saudi Arabia
9.5.2. South Africa
9.5.3. Rest of Middle East & Africa
CHAPTER 10. COMPETITIVE INTELLIGENCE
10.1. Key Company SWOT Analysis
10.1.1. Carrier Global Corporation
10.1.2. Haier Biomedical
10.1.3. Liebherr-International AG
10.2. Top Market Strategies
10.3. Company Profiles
10.3.1. Carrier Global Corporation
10.3.1.1. Key Information
10.3.1.2. Overview
10.3.1.3. Financial (Subject to Data Availability)
10.3.1.4. Product Summary
10.3.1.5. Market Strategies
10.3.2. Haier Biomedical
10.3.3. Liebherr-International AG
10.3.4. Panasonic Healthcare Co., Ltd.
10.3.5. Blue Star Limited
10.3.6. Thermo Fisher Scientific Inc.
10.3.7. Danfoss A/S
10.3.8. Felix Storch, Inc.
10.3.9. Godrej & Boyce Manufacturing Co. Ltd.
10.3.10. Eppendorf AG
10.3.11. Vestfrost Solutions
10.3.12. Trane Technologies plc
10.3.13. Metalfrio Solutions
10.3.14. Evermed S.R.L.
10.3.15. Zhongke Meiling Cryogenics Company Limited
CHAPTER 11. RESEARCH PROCESS
11.1. Research Process
11.1.1. Data Mining
11.1.2. Analysis
11.1.3. Market Estimation
11.1.4. Validation
11.1.5. Publishing
11.2. Research Attributes
