The latest report by IMARC, titled “Portable Mini Fridge Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, finds that the global mini fridge market size reached US$ 1.3 Billion in 2022. A portable mini fridge refers to a compact refrigeration unit that is designed for easy transportation and convenience. It is typically smaller than traditional refrigerators and can be powered by various sources, including AC/DC power outlets, batteries, and solar power. A portable mini fridge is popular among campers, boaters, and individuals on the go who need to keep their foods and drinks cold while travelling. In recent years, portable mini fridge is gaining traction as it is available in a variety of sizes and styles, ranging from simple coolers with no temperature control to more advanced models with digital displays, adjustable temperature settings, and built-in freezers.
Global Portable Mini Fridge Market Trends:
One of the primary factors driving the market is the changing lifestyle patterns of consumers. Additionally, the increasing number of individuals living in smaller homes or apartments has augmented the demand for compact and portable appliances like mini refrigerators. Other than this, the increasing mobility of consumers, along with the increasing trend of outdoor activities, such as hiking, camping, and road trips, is positively influencing the market growth. Moreover, the sudden outbreak of the coronavirus disease (COVID-19) pandemic and the increasing number of individuals working from home have escalated the product demand for appliances to keep food and beverages fresh. Besides this, with the growing environmental consciousness, key players are introducing energy-efficient portable mini fridges with low power consumption and manufactured using eco-friendly refrigerants and materials. They are also using advancements in technology, such as thermoelectric cooling and compressor-based refrigeration, to produce more compact, efficient mini-fridges that are capable of maintaining consistent temperatures. Furthermore, they are also introducing portable mini fridges, which are equipped with features, such as USB charging ports, Bluetooth connectivity, and built-in speakers, making them more versatile and user-friendly. On account of these factors, IMARC Group expects the market value to reach US$ 1.7 Billion by 2028, expanding at a CAGR of 3.9% during the forecast period (2023-2028).
- On the basis of the product type, the market has been divided into less than 1 cu. ft, 11.9 cu. ft., 22.9 cu. ft., 33.9 cu. ft., and 45 cu. ft.
- Based on technology, the market has been bifurcated into compressor and semiconductor refrigeration.
- On the basis of the application, the market has been segregated into residential and commercial.
- Based on the distribution channel, the market has been categorized into supermarkets and hypermarkets, specialty stores, retail stores, online stores, and others.
- Region-wise, the market has been classified into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some of the key players being ARB USA, Danby Products Limited, Dometic Group AB, Engel Distribution Pty Ltd., Godrej Industries Limited, Haier Group Corporation, Koolatron Corporation, LG Electronics Inc., Living Direct Inc. (Ferguson Plc), Panasonic Corporation, Whirlpool Corporation and Whynter LLC.
|Base Year of the Analysis
||Product Type, Technology, Application, Distribution Channel, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||ARB USA, Danby Products Limited, Dometic Group AB, Engel Distribution Pty Ltd., Godrej Industries Limited, Haier Group Corporation, Koolatron Corporation, LG Electronics Inc., Living Direct Inc. (Ferguson plc), Panasonic Corporation, Whirlpool Corporation and Whynter LLC
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