Freezer Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2025-2034)

The global freezer market size reached around USD 16.92 Billion in 2024. The market is projected to grow at a CAGR of 4.10% between 2025 and 2034 to reach nearly USD 25.29 Billion by 2034.

Global Freezer Market Growth

Mexico has emerged as one of the critical global hubs of home appliance production in recent times. This can be attributed to the increasing nearshoring of operations by American manufacturing companies, which is expected to favourably impact the freezer market development.

The home appliance manufacturing industry of Mexico was valued at around USD 14.8 billion in 2023. While it earlier accounted for around 12% of the total industrial area, the establishment of 25 new industrial parks in 2023 has further fuelled the market growth. This is expected to facilitate the freezer market expansion, which is also expected to benefit from growing private sector investments (recorded at over USD 1.15 billion in 2022).

Youth-led start-ups in Kenya are revolutionising freezer production by using plastic waste to manufacture solar-powered freezers. Such initiatives are expected to appeal to environmentally conscious consumers and lead to an increase in the freezer market value over the forecast period.

As per the China Federation of Logistics and Purchasing, the total revenues of the domestic cold chain logistics industry surged by 4.1% y-o-y during January-May 2023, reaching USD 369.11 billion. The total industrial investment also recorded a growth of 6.6% y-o-y, reaching 14 billion yuan. This is expected to lead to an increased demand for industrial freezers in the nation, thereby driving demand in the Asia Pacific region.

Key Trends and Developments

Introduction of liquid freezers; advancements in cryogenic freezing technologies; the shift towards sustainability; and the growth of the pharmaceutical industry are the major factors favouring the freezer market growth

October 2024

JBT Corporation introduced the ADVANTEC™ Narrow Impingement Freezer for the food and beverage industry. It provides a high-speed freezing solution for flat products with 25 mm thickness and a chill and crust freeze facility for products around 200 mm thick.

August 2024

BSH Home Appliance, a German subsidiary of the Bosch Group, held the inauguration ceremony of its newest refrigerator manufacturing facility in Mexico, worth an investment of USD 260 million. By 2026, the company aims to double its production capacity.

June 2024

Constantia Flexibles, in collaboration with EonMobil, developed an innovative recyclable freezer film for packaging a wide variety of vegetables for a plant-based food brand known as Bonduelle. This is expected to favourably impact the freezer market development.

March 2024

Blue Star Ltd., India is expected to establish a new deep freezer production facility in North India by 2027 to cater to the growing demand for commercial refrigeration solutions. This facility is expected to have a production capacity of around 5 lakh units annually.

Introduction of liquid freezers

Liquid freezers prevent the formation of large ice crystals caused by slow freezing, thereby maintaining the freshness, quality and texture of food. It also enhances the shelf life of frozen food and makes it safe for consumption. This is expected to increase the freezer market value over the forecast period.

Advancements in cryogenic freezing technologies

Technological advancements have enabled key players to introduce powerful freezers, which ensure the strictest standards of safety and hygiene of frozen food.

Shift towards sustainability

An increasing number of freezer manufacturers are expected to incorporate recycled materials into freezers to minimise their carbon footprint. This is expected to facilitate the growth of freezer market value over the forecast period.

Growth of the pharmaceutical industry

The robust growth of the pharmaceutical industry is expected to increase the demand for reliable and cost-effective freezers which can be used to safely transport temperature-sensitive medicines and vaccines.

Global Freezer Market Trends

In 2022, the overall demand for home-cooked meals in Japan reached 406.1 billion yen by value and 800,000 tons by volume. The phrase “second freezer” has become exceedingly popular in Japan, as consumers are installing additional freezers to prevent food wastage and adapt to changing family structures. This is creating a favourable freezer market outlook. Moreover, the increasing labour shortage is challenging the growth of the food service industry in Japan, which is expected to boost the adoption of freezers, thereby leading to market growth.

Global Freezer Industry Segmentation

The report titled “Global Freezer Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:

Market Breakup by Product Type:

• Chest Freezers
• Upright Freezers

Market Breakup by Capacity:

• 200L and Below
• 200L-300L
• 300L-500L
• 500L and Above

Market Breakup by Application:

• Residential
• Commercial
• Industrial

Market Breakup by Door:

• 1 Door
• 2 Door
• 3 Door
• 4 Door

Market Breakup by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Global Freezer Market Share

Based on region, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. Over the forecast period of 2024-32, the Middle East and Africa is expected to grow at a CAGR of 4.4% due to the growing consumption of frozen food products among middle-income and high-end consumers in the region. Moreover, as per the freezer market analysis, increasing accessibility to sustainably freezers is expected to favourably impact the market dynamics.

Leading Companies in the Global Freezer Market

Major players are incorporating sustainable materials into their freezers, which is favourably influencing the freezer market dynamics.

AB ELECTROLUX

AB ELECTROLUX was founded in 1919 and is headquartered in Stockholm, Sweden. It is a home appliance manufacturing company which specialises in the production of cookers, refrigerators, washing machines, ovens, and vacuum cleaners, among other products.

Haier Group

Haier Group was founded in 1984 and is headquartered in Shandong, China. It is mainly engaged in manufacturing electrical appliances and serves over 1 billion consumers across 160 countries.

Panasonic Holdings Corporation

Panasonic Holdings Corporation was founded in 1918 and is headquartered in Osaka, Japan. It is engaged in producing electronic appliances, including industrial equipment, audio video solutions, and home appliances, among others.

Whirlpool Corporation

Whirlpool Corporation was founded in November 1911 and is headquartered in Michigan, United States. It is one of the world's leading laundry and kitchen companies, which generated nearly USD 20 billion in sales in 2022.

Other players included in the freezer market report are BRANDT FRANCE, Liebherr-Hausgeräte GmbH, Thermo Fisher Scientific Inc., Ali Group S.r.l., LG Electronics Inc., and Siemens AG, among others.