Market Overview:
The global mini refrigerator market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for mini refrigerators from residential and commercial applications. Mini refrigerators are increasingly being used in residential applications as they are energy-efficient and occupy less space as compared to traditional refrigerators. In addition, the growing trend of BYOD (Bring Your Own Device) is also contributing to the growth of the mini refrigerator market, as employees are using personal mini refrigerators in office spaces for storing food and beverages. Furthermore, rising disposable income levels across emerging economies is also propelling demand for premium-quality mini refrigerators, which is further aiding market growth.
Product Definition:
A mini refrigerator is a small-scale refrigerator that is typically used in residential settings. Mini refrigerators are often used to store food and drinks, and they can also be used to keep medications cold.
Up to 3 Cu.Ft.:
The global mini refrigerator market size was valued at USD 7.5 billion in 2016 and is expected to grow at a CAGR of XX% over the forecast period. The growth can be attributed to factors such as increasing disposable income, rapid urbanization, changing lifestyles, and growing food retail chains across the globe.
Mini refrigerators are compact in size with a capacity between 3 cu ft and 6 cu ft.
More Than 3 Cu.Ft.:
The more than 3 cu. ft. mini refrigerator is the most popular product in this segment and accounts for over 50% of the revenue share in 2015. The growth of this segment can be attributed to its increasing demand from food service industries, hospitals, hotels and restaurants among others where storage of a large quantity of food is required at a fixed location.
Application Insights:
The commercial application segment led the global mini refrigerators market and accounted for more than 60.0% share of the total revenue in 2017. The growth can be attributed to an increasing number of retail stores, food chains and e-commerce portals across the globe. Miniaturization has helped in reducing counter space required by a conventional cooler, which is further expected to drive demand over the forecast period.
The residential application segment is expected to witness significant growth over the forecast period owing to rising disposable income among consumers, coupled with high consumer spending on appliances that fulfill their basic needs such as hot water generation and cooling facilities at affordable costs.
Regional Analysis:
Asia Pacific mini fridge market is anticipated to witness significant growth over the forecast period owing to increasing purchasing power, rising urbanization, and changing lifestyles. The Asia Pacific region held the largest share in 2017 and is expected to continue its dominance over the forecast period. This can be attributed to growing demand for small household appliances in emerging economies such as China and India. Increasing disposable income levels are also expected to fuel regional product demand during the forecast period.
North America mini fridge market accounted for a significant share of global revenue in 2017 owing to high consumer awareness regarding advanced products with enhanced features along with low price tags compared to their counterparts imported from developed countries such as U.S., U.K., Germany, Japan, etc.). Europe was another major regional segment accounting for 24% of global revenue share in 2017 on account of high consumption levels coupled with growing trend towards energy-efficient products suitable for cold storage applications (i).
Growth Factors:
- Increasing demand for mini refrigerators in residential applications
- Rising popularity of small kitchen appliances among consumers
- Proliferation of online retail channels that offer a wide selection of mini refrigerators at competitive prices
- Growing demand for energy-efficient and eco-friendly mini refrigerators
- Innovative product designs and features offered by leading manufacturers
Scope Of The Report
Report Attributes
Report Details
Report Title
Mini Refrigerator Market Research Report
By Type
Up to 3 Cu.Ft., More Than 3 Cu.Ft.
By Application
Residential, Commercial
By Companies
Mini Refrigerator, GE Appliances, Midea, Costway, Danby, Cooluli, Winiadaewoo Electronics, Galanz, MCA Corporation, Insignia
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
148
Number of Tables & Figures
104
Customization Available
Yes, the report can be customized as per your need.
Global Mini Refrigerator Market Report Segments:
The global Mini Refrigerator market is segmented on the basis of:
Types
Up to 3 Cu.Ft., More Than 3 Cu.Ft.
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Residential, Commercial
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Mini Refrigerator
- GE Appliances
- Midea
- Costway
- Danby
- Cooluli
- Winiadaewoo Electronics
- Galanz
- MCA Corporation
- Insignia
Highlights of The Mini Refrigerator Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Up to 3 Cu.Ft.
- More Than 3 Cu.Ft.
- By Application:
- Residential
- Commercial
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Mini Refrigerator Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A mini refrigerator is a small, compact refrigerator that is typically about the size of a microwave oven. They are often used in apartments and other small spaces where space is at a premium.
Some of the major companies in the mini refrigerator market are Mini Refrigerator, GE Appliances, Midea, Costway, Danby, Cooluli, Winiadaewoo Electronics, Galanz, MCA Corporation, Insignia.
The mini refrigerator market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Mini Refrigerator Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Mini Refrigerator Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Mini Refrigerator Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Mini Refrigerator Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Mini Refrigerator Market Size & Forecast, 2020-2028
4.5.1 Mini Refrigerator Market Size and Y-o-Y Growth
4.5.2 Mini Refrigerator Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Up to 3 Cu.Ft.
5.2.2 More Than 3 Cu.Ft.
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Residential
6.2.2 Commercial
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Mini Refrigerator Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Mini Refrigerator Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Up to 3 Cu.Ft.
9.6.2 More Than 3 Cu.Ft.
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Residential
9.10.2 Commercial
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Up to 3 Cu.Ft.
10.6.2 More Than 3 Cu.Ft.
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Residential
10.10.2 Commercial
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Up to 3 Cu.Ft.
11.6.2 More Than 3 Cu.Ft.
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Residential
11.10.2 Commercial
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Up to 3 Cu.Ft.
12.6.2 More Than 3 Cu.Ft.
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Residential
12.10.2 Commercial
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Up to 3 Cu.Ft.
13.6.2 More Than 3 Cu.Ft.
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Residential
13.10.2 Commercial
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Mini Refrigerator Market: Competitive Dashboard
14.2 Global Mini Refrigerator Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Mini Refrigerator
14.3.2 GE Appliances
14.3.3 Midea
14.3.4 Costway
14.3.5 Danby
14.3.6 Cooluli
14.3.7 Winiadaewoo Electronics
14.3.8 Galanz
14.3.9 MCA Corporation
14.3.10 Insignia
