1 minute read
6.1 Total Addressable Market
In 2021, there were an estimated 272,100 food retail outlets, including supermarkets, hypermarkets, grocery, discount and convenience stores in Europe. In this report, Europe is defined as including the EU, U.K., Norway, Switzerland, Iceland, non-EU Balkan states, Ukraine, Belarus, Moldova and the European part of Russia.
In 2022, we adjusted our estimate to be 299,025 food retail outlets, a difference of 10%.
Based on feedback from a sample of key retail end users, stores are retrofitted on average every 10–20 years, depending on each retailer’s individual policies. In Europe, particularly, the retrofit market offers great opportunities to switch to natural refrigerants, with many retailers having done so already.
