Portable Mini Fridge Market To Reflect Tremendous Growth Potential With A CAGR Of 5.2% By 2025: Grand View Research Inc.

(Senmer News Wire)

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According to a recent report published by Grand View Research Inc., the increasing application of portable fridges in outdoor recreational vehicles such as RVs, motorhomes, caravans, campervans, and vanity vans, is accelerating the portable mini fridge market expansion.

The global portable mini fridge market size is expected to reach USD 1.3 billion by 2025, registering a CAGR of 5.2%, as per a new report by Grand View Research Inc. Improvement in the global hotel industry due to rising travel expenditure by millennials is expected to promote the market scope in the next few years.

Growing inclination toward outdoor recreational activities such as camping among working professionals has fueled the demand for RVs, motorhomes, and caravans. Customers are also keen on using luxurious and productive products during their outing activities, which, in turn, is augmenting the use of portable mini fridge. Portable mini fridges also find a widespread application in suites and hotel rooms, which is anticipated to open up new avenues for the market. Major players include InterContinental Hotels Group, Marriott International, Hilton Worldwide, and other hotel chains. 

North America dominated the overall market and accounted for a 30.7% share of the gross revenue in 2018. Increased millennial’s participation in outdoor recreational activities, particularly in U.S. and Canada is driving the North American market.  Furthermore, surging investment in new hotel establishment is promoting the utility of portable fridges.

Portable Mini Fridge Market Highlight

Covid 19’s rapid outbreak worldwide has resulted to serious implications for electronics and electrical product suppliers & manufacturers, in the form of supply chain disruptions

Car refrigerators are highly popular as they offer the flexibility to carry medicines, fresh fruits, baby food, and dairy products. They are manufactured using the PU foam & top-notch ABS plastic raw material and some of the popular products include Tropicool PC05W, Black+Decker cooler, Blackcat, etc.

Vanity units have gained immense popularity on social media platforms such as Instagram and Pinterest. AstroAI Mini Fridge, Cooluli Mini Fridge, Chefman Mini, Teami Mini Fridge, etc. are some of the stunning skincare fridges that have elevated the makeup and beauty industry game all at once

In January 2021, Ameritek Ventures merged with VW Win Century to launch launching novel technologies for manufacturing products and gained the ownership of FlexFridge mini fridge patent. The production prototype consists of a portable mini fridge for the storage items such as meats, medicines, beverages, and blood

The commercial application segment accounted for the largest revenue share of 70.0% in 2018 due to its widespread application in the caravans, RVs, motorhomes, campervans, vanity vans, etc.

Online distribution channel is set to dominate the market, with a CAGR of 5.6% from 2019 to 2025. This can be attributed to the availability of a wide range of products on key e-commerce platforms including Alibaba and Amazon

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Portable Mini Fridge Market Segmentation

Grand View Research has segmented the global portable mini fridge market on the basis of application, distribution channel, and region:

Portable Mini Fridge Application Outlook (Revenue, USD Million, 2015 – 2025)

Residential

Commercial

Portable Mini Fridge Distribution Channel Outlook (Revenue, USD Million, 2015 – 2025)

Offline

Online

Portable Mini Fridge Regional Outlook (Revenue, USD Million, 2015 – 2025)

North America

U.S.

Europe

U.K.

Germany

France

Asia Pacific

China

India

Central & South America

Brazil

Middle East & Africa

UAE

List of Key Players in Portable Mini Fridge Market

Midea Group

ARB

Danby

DOMETIC GROUP AB 

PUBL

Living Direct, Inc.

Engel Australia Pty Ltd.

Haier Inc.

Whirlpool Corporation

Godrej Group

Electrolux AB

WHYNTER LLC.

Have Any Query? Ask Our Experts for More Details on Report:https://www.grandviewresearch.com/inquiry/6510/ibb

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About Grand View Research

Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across a multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.

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Source: Portable Mini Fridge Market To Reflect Tremendous Growth Potential With A CAGR Of 5.2% By 2025: Grand View Research Inc.