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.
Industry Outlook:
A portable mini fridge refers to a compact refrigerator that can be moved and carried around easily. It is available in numerous shapes, capacities, and sizes and operates on minimal power. Mini fridges contain a compact compressor, expansion valves, refrigerant, heat-exchanging pipes coiled outside the unit, etc. They are used for storing various products, such as cosmetics and pharmaceutical drugs, while maintaining their freshness, especially during travel. Consequently, these fridges are extensively utilized in vanity vans, marine cruises, leisure yachts, recreational vehicles (RVs), mobile and small homes, medical transport units, etc.
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Market Trends and Drivers:
The escalating demand for cold storage systems in luxury vehicles across the globe is among the primary factors driving the portable mini fridge market. Besides this, the shifting consumer preferences towards mobile homes as an affordable alternative for first-time homeowners and frequent travelers are further bolstering the market growth. Additionally, the increasing demand for high-capacity mini-fridges to store temperature-sensitive pharmaceutical drugs with specific storage requirements is also augmenting the global market. Apart from this, the introduction of innovative product variants with adjustable automatic battery protection systems to prevent vehicle battery rundown is acting as another growth-inducing factor. Furthermore, the growing popularity of outdoor recreational activities, such as picnics, camping, road trips, etc., is projected to fuel the portable mini fridge market over the forecasted period.
Competitive Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the global portable mini fridge market has been studied in the report with the detailed profiles of the key players operating in the market.
Major Key Covered:
- 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
- Whynter LLC
Key Market Segmentation:
The report has segmented the global portable mini fridge market on the basis of product type, technology, application, distribution channel and region.
Based on Product Type:
- Less Than 1 cu. ft.
- 9 cu. ft.
- 9 cu. ft.
- 9 cu. ft.
- 45 cu. ft.
Based on Technology:
- Compressor Refrigeration
- Semiconductor Refrigeration
Based on Application:
- Residential
- Commercial
Based on Distribution Channel:
- Supermarkets and Hypermarkets
- Specialty Stores
- Retail Stores
- Online Stores
- Others
Geographical Analysis:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
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