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Contents 01 Scope and limitations 06 02 Research aim and objectives 07 03 Study methodology 08 04 Commercial refrigeration market size 09 19 a. Product classification b. Industry structure c. Player product presence d. Commercial refrigeration market size e. Market share of key player f. Revenues by players g. Growth in past years h. Price points i. Net margins 05 Market size for Visi coolers 20 24 a. Market analysis b. Market characteristics c. Growth factors d. Future projections 3
Contents 06 Market size for Deep Freezers 25 29 a. Market analysis b. Market characteristics c. Growth factors d. Future projections 07 Market size for Display Cabinets 30 34 a. Market analysis b. Market characteristics c. Growth factors d. Future projections 08 Market size for Bottle Coolers 35 39 a. Market analysis b. Market characteristics c. Growth factors d. Future projections 09 Market size for Other products 40 45 a. Market analysis b. Market characteristics c. Growth factors d. Future projections 4
Contents 10 Growth factors and Future projections 46-55 a. Growth factors b. Beverages industry c. Ice cream industry d. Retail industry e. Hospitality industry f. Processed food industry structure g. Processed food industry h. Future growth i. Emerging market trends 11 About Us 56 61 5
Scope and timelines Assessment of the Indian commercial refrigeration market for FY13 and forecast till FY18 Feedback has considered the FY13 for this market assessment, which represents the period between April 2012 and March 2013 Study was conducted during August 2013 Limitations Segment wise split of the market is order of magnitude estimates, based on discussions with stakeholders Qualitative information is based primarily on discussions held with the key players and could therefore be subject to variations Niche products like Island coolers, multi-deckers and wine coolers are not dealt in detail in the report 6 Scope and limitation
Research aim and objectives Research aim Research objectives Market estimate for commercial refrigeration products in India for 2013 The aim of the research is to present a comprehensive overview of the commercial refrigeration market, factors driving it and its future in India Market segmentation by product categories and by end user categories, analysis of market trends and dynamics Past market trends (for last 4 years) Providing insights into challenges, market drivers and market constraints and their impact on the future market Market projections for 5 years 7 Research aim and objectives
Information Collection Quality Check and Information Analysis Future Projections Conducting extensive primary and secondary research Harnessing internal databases Studying Annual Reports of relevant companies Accessing Import/ Export data Analyzed the dynamics and gathered data on key trends and drivers in the market Sizing the market Segmentation of data by various markets Detailed analysis of drivers, challenges & restraints End user segment growth Expert views Historic data Industry dynamics 8 Study methodology
Commercial refrigeration market size (value) Product classification Industry structure Player product presence Commercial refrigeration market size Market share of key players Revenues by players Growth in the last 4 years Price points Net margins 9
Commercial Refrigeration Visi Cooler Deep Freezer Chest Freezer (Hard Top) Display Cabinet Bottle Cooler Others Multi Deckers Vending Machine Glass Top Upright / Vertical Freezer Wine Cooler Island Cooler Source : Company Website and brochures 10 Product classification
Suppliers Channel Users Domestic manufacturers XX large (national) players @@@, @@@, @@@ Others: XX+ players Imports XX+ Indian companies dealing in imported products, along with own product offerings @@@, @@@, @@@ are key importers Distributors & Dealers Working as a channel partner, mainly catering to the unorganized retail segment Major players like @@@, @@@ operate with their exclusive dealer network XXX dealers for national players like @@@, @@@ Institutional Purchase Product manufacturers Dairy - Ice cream, milk products and drinks Beverages - Soft drinks, Beer, Fruit juices Frozen foods Vegetable, Meat, Marine Probiotic food manufacturers Others: Confectionery Chocolates End Users Organized Retail Supermarkets, hypermark ets, food bazaars, large & medium restaurants Hospitality - Fast food chains, hotels Unorganized Retail - General stores, grocery shops, Bakery - Sweet shops, cake shops Small restaurants Institutional Purchase Retail Purchase Source : Feedback domain & primary research 11 Industry structure
Competition Visi Coolers Deep Freezers Display Counters Bottle Coolers Others* Remarks Player1 Player2 Player3 Player4 Player5 Player6 Player7 Player8 Player9 Player10 Source : Feedback domain & primary research Product presence 12 Player product presence
Domestic vs Imports (Volume) 100% = XXX k units Imports Domestic vs Imports (Value) 100% = INR XXX mn Imports Domestic mfg. Domestic mfg. Institutional vs Retail (Volume) Institutional vs Retail (Value) 100% = XXX k units 100% = INR XXX mn Retail Instituti onal Instituti onal Retail Source : Feedback domain & primary research 13 Commercial refrigeration market size
Product wise market size (Volume & Value) FY 13 CR Products Market for FY 13 Domestic Manufacturing Imports Domestic Sales Volume Value Volume Value Volume Value (Units) (INR mn) (Units) (INR mn) (Units) (INR mn) Visi coolers XXX XXX XXX XXX XXX XXX Deep Freezers XXX XXX XXX XXX XXX XXX Display Cabinets XXX XXX XXX XXX XXX XXX Bottle Coolers XXX XXX XXX XXX XXX XXX Others* XXX XXX XXX XXX XXX XXX Source : Feedback Body of Knowledge (BoK) Total XXX XXX XXX XXX XXX XXX 14 Product wise market share
Player wise (Volume) FY 13 Player wise (Value) FY 13 100% = XXX k units 100% = INR XXX mn @@@ and @@@ account for XX% of the market by volume and XX% by value, having grown faster than the industry Relatively new entrant, @@@, has significantly increased its sales volume from XXX units in FY 12 to XXX units in FY 13 by offering products at competitive prices Carrier focusing more on high value niche products and has better realisation than others P1 P2 P3 P4 P5 P6 P7 P1 P2 P3 P4 P5 P6 P7 P8 P9 P10 P11 P12 P13 P14 P8 P9 P10 P11 P12 P13 P14 Source : Feedback BoK 15 Market shares of key player
Source : Feedback BoK Player wise volume (in 000 units) Player1 Player2 Player3 Player4 Player5 Player6 Player7 Player8 Player9 Player10 Player11 Player12 Player13 Player14 Player15 Player16 Player17 Player18 Player19 Player wise value (INR mn) Player1 Player2 Player3 Player4 Player5 Player6 Player7 Player8 Player9 Player10 Player11 Player12 Player13 Player14 Player15 Player16 Player17 Player18 Player19 16 Revenues by players for FY 13
Past 4 years volume growth (In 000 units) Market has grown from ~ INR XXX mn in 2010-11 to INR XXX mn in 2012-13 (CAGR of XXX%) Value wise market estimates based on the average CR product price for each competitor/ product @@@ buying has driven the growth in the last 3 years, slower than the anticipated growth in organised retail, due to the downturn FY 10 FY 11 FY 12 FY 13 Past 4 years value growth (INR mn) Market dipped in 2010-11 due to decline in demand for @@@; global beverage major @@@ reduced its @@@ offtake in 2010-11 Source : Feedback domain & primary research FY 10 FY 11 FY 12 FY 13 17 Growth trend in past 4 years
Commercial refrigeration products Price chart (In INR) Prices exclude VAT Pricing for @@@ and @@@ included under Niche retail products @@@ and @@@ are custom made by organized players and hence have a wider price range @@@ pricing was under pressure 2013 due to continuous depreciation of rupee against dollar Product6 Product5 Product4 Product3 Product2 Product1 Source : Feedback domain & primary research 18 Price points
Company wise net margin Company Name Manufacturer Trader High imports from @@@, as the net margins for players are higher than in case of domestic manufacturers Many large institutional buyers have begun directly importing @@@ from @@@. @@@ imported XXX @@@ in 2013 Margins for @@@ high due to higher priced products and tax holiday offered by the state govt. Margins for @@@ high because of the premium on @@@ and tax holiday from state government @@@ is the only organized manufacturer of @@@ Source: Annual Report Company1 XX% - Company2 XX% - Company3 XX% - Company4 XX% - Company5 XX% - Company6 - XX% Company7 - XX% Company8 - XX% 19 Net margins in the industry
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