How Is Food Processing Sector Supporting MEA Industrial Refrigeration Systems Market Growth?
The Middle East and Africa (MEA) industrial refrigeration systems market is projected to record a CAGR of 6.1% during the forecast period (2018–2023). This can be ascribed to the expansion of the food and beverage sector and high requirement for refrigeration systems in the chemical and pharmaceutical industries of the region. The market generated a revenue of $1,679.9 million in 2017 and it is expected to reach $2,406.8 million by 2023. At present, the increasing adoption of environment-friendly refrigerants has become a key trend in the market.
The growth of the food processing industry in countries like Qatar and Saudi Arabia will play a vital role in the advancement of the MEA industrial refrigeration systems market. In the coming years, the region will witness a substantial rise in consumption of ready-to-eat meal and number of food outlets, owing to which the demand for refrigeration systems will surge exponentially.
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