Increasing consumption of processed foods is driving the growth of the refrigerator market at a rate of over 7%


Global Refrigerator Market Report 2021 – Impact and Recovery of COVID-19

Refrigerator Market Report

Global Refrigerator Market Report

The Business Research Company Global Refrigerator Market Report 2021 – Impact and Recovery of COVID-19

LONDON, GREATER LONDON, UK, October 11, 2021 / – Increasing consumption of processed food products such as frozen meat, vegetables, dairy products as well as changing consumer eating habits are driving growth of the refrigerator market. Due to busy lifestyles, consumers increasingly rely on processed foods, ready meals that require refrigerators for storage. According to Rentokil, the processed food industries are valued at $ 2 trillion worldwide. The huge market for processed food products is expected to boost the refrigerator market.

The global refrigerator market is expected to grow from $ 31.61 billion in 2020 to $ 34.00 billion in 2021 at a compound annual growth rate (CAGR) of 7.6%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities which resulted in operational challenges. The refrigerator market is expected to reach $ 44.26 billion in 2025 at a CAGR of 7%.

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Refrigerator manufacturers are implementing technologies such as IoT and built-in sensors in their products to improve overall functionality. Manufacturers introduce advanced human-machine interface designs in refrigerators and also manufacture refrigerators capable of automatically recognizing the type and weight of food stored in refrigerators, adjusting and monitoring the temperature as needed.

The main players in the global refrigerator market are Electrolux, Haier, LG Electronics, Samsung Electronics, Whirlpool, Hitachi, Bosch, Hisense, Sharp, Siemens, TCL, Kinghome, Midea, Panasonic, Meiling, DIQUA, Frestec, Casarte, Homa, LittleSwan , Konka, Toshiba, Arçelik, Godrej, Mitsubishi Electric, Panasonic.

Global TBRC Refrigerator Market report is segmented by Type into Single Door, Double Door, Patio Door, Others, by distribution channel to Specialty Retailers, Department Stores, Large Retail / Hypermarkets / Supermarkets, Stores discount, online, by household application, commercial use, industrial use, by freezer location in top freezer, bottom freezer, no freezer.

Global Refrigerator Market Report 2021 – By Type (Single Door, Double Door, Patio Door), By Distribution Channel (Specialty Retailers, Department Stores, Department Stores / Hypermarkets / Supermarkets, Discount Stores, Online), By Application (household, commercial use, industrial use), per freezer location (top freezer, bottom freezer, no freezer). COVID-19 Impact and Recovery is one of a series of new reports from The Business Research Company that provides an overview of the Refrigerators market, a forecast of the refrigerator market size and growth for the entire market, Refrigerator market segments and geographies, Refrigerator market trends, Refrigerator market drivers, restraints, revenue, profiles and market share of key competitors.

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