The global snow cone and commercial shaved ice machines market is anticipated to reach a valuation of US$ 3.9 billion in 2023, driven by expansion of food service industry across the globe. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 4.3% between 2023 and 2033, and reaching a total valuation of approximately US$ 5.9 billion by 2033.
One of the primary factors driving the growth of the snow cone and commercial shaved ice machines market is the increasing adoption in non-food applications. Snow Cone and Commercial Shaved Ice Machines, beyond the traditional foodservice industry, are finding applications in various non-food sectors.
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Growing tourism and hospitality industry is another factor that is expected to have a significant impact on the market growth. The need for refreshing and enjoyable treats increases, as tourist destinations continue to attract visitors from around the world. Hotels, resorts, and recreational facilities often incorporate snow cones and shaved ice as part of their offerings to enhance the guest experience, leading to increased demand for commercial shaved ice machines.
Another factor contributing to the market growth is the increasing popularity of mobile food businesses, such as food trucks, pop-up stalls, and outdoor events. The machines are compact, portable, and easy to operate, making them ideal for mobile setups. Entrepreneurs and small business owners are leveraging the mobility and profitability of snow cone and shaved ice machines to establish mobile dessert businesses, catering to the demand for on-the-go frozen treats.
Innovation in product offerings is a significant driver for the snow cone and commercial shaved ice machines market. Manufacturers are constantly introducing new and improved machines that enhance efficiency, durability, and ease of use. Advanced features such as adjustable shaving settings, high-speed motors, and improved safety measures have attracted both commercial users and individuals looking to enjoy snow cones and shaved ice at home. The innovations contribute to the overall growth of the market by providing customers with better experiences and creating a competitive edge for manufacturers.
Key Takeaways from the Market Study
- Global snow cone and commercial shaved ice machines market was valued at US$ 3.7 billion by 2022-end.
- From 2018 to 2022, the market demand expanded at a CAGR of 2.3%.
- North America is expected to hold a dominant CAGR of 4.2% during the forecast period.
- By Product Type, the electric segment is expected to constitute a CAGR of 4.2% in 2033.
- On the basis of Application, the commercial segment is expected to dominate the market with a CAGR of 4.1% in 2033.
- From 2023 to 2033, snow cone and commercial shaved ice machines market is expected to flourish at a CAGR of 4.3%.
- By 2033, the market value of snow cone and commercial shaved ice machines is expected to reach US$ 5.9 billion.
Competitive Landscape
Prominent players in the snow cone and commercial shaved ice machines market are Hawaiian Shaved Ice LLC, Paragon International Inc., Hatsuyuki Ice Shaver, Snowie LLC, Great Northern Popcorn Company, Swan Machine, Gold Medal Products Co., Koval Inc., Little Snowie, Swan, Snowizard, Cuisinart, and Hamilton Beach Brands Inc., among others.
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Recent Developments
- In 2022, Swan, a renowned manufacturer of commercial shaved ice machines, released the ‘Swan SI-100E Ice Shaver.’ The machine is designed for high-volume applications, offering fast and efficient ice shaving. It features stainless steel construction and advanced safety features, ensuring reliable and safe operation.
- In 2021, Snowie LLC, introduced the ‘Snowie Little Snowie Max’ machine. The compact and portable machine is designed for home and small-scale commercial use, offering high-quality shaved ice with a user-friendly operation. It allows users to create professional-grade shaved ice with ease.
- In the same year, Paragon International, Inc., launched the ‘Arctic Blast Snow Cone Machine.’ The machine is designed for high-volume commercial applications, featuring a powerful motor and durable construction to meet the demands of busy concession stands and events.