The household refrigerator and home freezer global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Household Refrigerator And Home Freezer Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The household refrigerator and home freezer market size has grown strongly in recent years. It will grow from $59.18 billion in 2023 to $62.89 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to electrification of households, changing consumer lifestyles, energy efficiency and environmental concerns, kitchen remodeling and upgrades, adoption of modular kitchens, increase in the number of nuclear families worldwide.
The household refrigerator and home freezer market size is expected to see strong growth in the next few years. It will grow to $78.46 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to smart and connected appliances, sustainability and energy efficiency, health and wellness trends, urbanization and smaller living spaces, food delivery and online shopping. Major trends in the forecast period include french door refrigerators, energy-efficient cooling, customization and flexible storage, fingerprint-resistant finishes, integration of water and ice dispensers.
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Scope Of Household Refrigerator And Home Freezer Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Household Refrigerator And Home Freezer Market Overview
Market Drivers –
The increasing consumption of processed food products such as frozen meat, vegetables, and dairy products as well as change in the dietary habits of consumers is driving the household refrigerator and freezer market growth. Due to busy lifestyles, consumers are increasingly relying on processed food and prepared meals that require refrigerators for storage. According to Rentokil, the processed food industries are valued at $2 trillion globally. The huge market for processed food products is expected to drive the growth of the household refrigerators and home freezers market.
Market Trends –
Household refrigerators and home freezer manufacturers are implementing technologies such as IoT and embedded sensors in their products to improve overall functionality. Manufacturers are introducing advanced human-machine interface designs in refrigerators and also manufacturing refrigerators that can automatically recognize the type and weight of the food stored in the refrigerators and adjust and monitor the temperature as per requirement.
The household refrigerator and home freezer market covered in this report is segmented –
1) By Type: Refrigerators, Freezers, Ice Boxes, Refrigerator/Freezer Combinations
2) By Refrigerator Door Type: Single Door, Double Door, Side by Side Door, French Door
3) By Freezer Location: Freezer on top, Freezer on bottom, Freezer less
4) By Application: Frozen Vegetable and Fruit, Frozen Meat, Other Applications
5) By Distribution Channel: Specialty Stores, Supermarkets/Hypermarkets, Online, Other Distribution Channels
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Regional Insights –
Asia-Pacific was the largest region in the household refrigerator and home freezer market in 2023. Western Europe was the second-largest region in the household refrigerator and home freezer market. The regions covered in the household refrigerator and home freezer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the household refrigerator and home freezer market include LG Electronics, Haier, Samsung, Panasonic Corporation, Godrej, Electrolux, Whirlpool, Robert Bosch, Liebherr-International AG, Dover Corporation, Midea Group, Hitachi Ltd., Sharp Corporation, Toshiba Corporation, Siemens AG, General Electric, Frigidaire, Maytag, Kenmore, Amana, KitchenAid, Jenn-Air, Viking Range, Sub-Zero, Thermador, True Residential, Fisher & Paykel, Dacor, Gaggenau, Smeg, Blomberg, Hisense, Arcelik, Vestel, Gorenje
Table of Contents
1. Executive Summary
2. Household Refrigerator And Home Freezer Market Report Structure
3. Household Refrigerator And Home Freezer Market Trends And Strategies
4. Household Refrigerator And Home Freezer Market – Macro Economic Scenario
5. Household Refrigerator And Home Freezer Market Size And Growth
…..
27. Household Refrigerator And Home Freezer Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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