Asia Pacific Blast Chillers Market size crossed USD 625 million in 2019 and is projected to expand at a CAGR of over 5.5% from 2020 to 2026.
The rapid increase in the consumption of packaged and frozen food in India and China will augment the demand for blast chillers in Asia Pacific. The presence of prominent players offering packaged food items including Kraft Foods Group, Nestle S.A, Tyson Foods, General Mills, and ITC Ltd. is anticipated to drive the demand for frozen food in the region. The companies operating in the frozen foods sector are increasingly using blast chilling techniques to preserve the quality and taste of food items and enhance their shelf-life. A rapid shift in consumer lifestyles in Asia Pacific is also one of the key drivers of the industry expansion.
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The Asia Pacific blast chillers industry has been significantly impacted due to the escalating spread and concerns related to the COVID-19 pandemic. The manufacturing industry in countries including China, India, and Japan has witnessed several disruptions on account of the mass quarantines imposed by government authorities. The companies operating in the market have faced several challenges due to financial insecurities and shortage of capital because of decline in revenues. The market is expected to witness a significant growth in 2021, owing to the containment of virus and economic revival.
The proliferation of large food retailing chains and supermarkets will generate new growth opportunities for the adoption of blast chillers in the region. The prominent food retail industry players, such as Walmart, Amazon, and Avenue Supermarts Limited, are focused on the geographic expansion to enhance their customer base. For instance, in November 2019, Walmart announced its plans of introducing over 500 new outlets in China within the next five to seven years. The ability of blast chillers to maintain the temperature and quality of frozen food at grocery stores and supermarkets will propel the product demand, accelerating the market growth.
The growing demand for Asia Pacific roll-in blast chillers market can be attributed to their ability to store large quantities of food items. Roll-in blast chillers are equipped with more shelves that enhance their capacity and provide accurate temperature control for the chilling of food items. The increasing usage of roll-in chillers in commercial spaces, such as warehouses and big hotel chains, will contribute to the overall market size.
The rapid increase in the demand for blast chillers in the bakery & confectionary segment will augment the market share. The ability of blast chillers to preserve large stocks of desserts/pastries including puddings, cakes, pies, and ice-creams will surge the product demand in the coming years. These food items require proper temperature to maintain its consistency, providing positive outlook for the industry.
Key players in the market include AB Electrolux, Williams Refrigeration, Victory Refrigeration, Irinox, Alto Shaam, Friginox, Hoshizaki, Master-Bilt, and SMEG SPA. The companies are focused on new product launches and innovations to cater to the rapidly growing market demand. For instance, in May 2020, Williams launched its new WTBC70 blast chiller model that is equipped with up to 70kg storage capacity in a single batch. It chills foods down to the designated holding temperature in 90 minutes or less, ensuring that the quality is preserved. Similarly, in February 2019, SMEG SPA launched a new Dolce Stil Novo blast chiller.