The global portable mini fridge market size reached US$ 1.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 1.7 Billion by 2027, exhibiting a growth rate (CAGR) of 5.4% during 2022-2027.
A portable mini fridge is a compact refrigerator that can be moved and carried around conveniently. It is available in various shapes, sizes and capacities and requires minimal power to operate. Mini fridges consist of a compact compressor, heat-exchanging pipes coiled outside the unit, expansion valves and refrigerant to maintain cold temperatures inside the fridge. They are usually mounted in recreational vehicles (RVs), mobile and small homes to keep the products fresh for long durations while traveling. They are also utilized for storing cosmetics and pharmaceutical drugs. As a result, portable mini fridges are widely used in vanity vans, marine cruises, leisure yachts, passenger and commercial vehicles and medical transport units.
Portable Mini Fridge Market Trends:
The increasing demand for cold storage systems in luxury vehicles across the globe is among the key factors driving the growth of the market. Moreover, the shifting consumer preference for mobile homes as an affordable alternative for first-time homeowners and frequent travelers is providing a thrust to the market growth. Portable mini fridges are used for energy-efficient cooling and maintaining the freshness of the food products on the go. In line with this, the increasing demand for high-capacity mini-fridges for storing temperature-sensitive pharmaceutical drugs with specific storage requirements is also contributing to the growth of the market. Various product innovations, such as the launch of variants with adjustable automatic battery protection systems to prevent vehicle battery rundown, are favoring the market growth. Other factors, including the increasing preference for outdoor reactional activities, such as outing, picnics, camping, trekking and adventurous road trips, along with the widespread adoption of mini fridges in premium and luxury hotels for improved customer experience, are anticipated to drive the market toward growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global portable mini fridge market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product type, technology, application and distribution channel.
Breakup by Product Type:
- Less Than 1 cu. ft.
- 11.9 cu. ft.
- 22.9 cu. ft.
- 33.9 cu. ft.
- 45 cu. ft.
Breakup by Technology:
- Compressor Refrigeration
- Semiconductor Refrigeration
Breakup by Application:
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Specialty Stores
- Retail Stores
- Online Stores
Breakup by Region:
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles 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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Key Questions Answered in This Report:
- How has the global portable mini fridge market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global portable mini fridge market?
- What are the key regional markets?
- What is the breakup of the market based on the product type?
- What is the breakup of the market based on the technology?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the distribution channel?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global portable mini fridge market and who are the key players?
- What is the degree of competition in the industry?