The global portable mini fridge market size is anticipated to reach USD 2.43 billion by 2030. The market is projected to grow at a CAGR of 9.1% from 2024 to 2030. Increasing application of portable fridges in outdoor recreational vehicles including RVs, caravans, motorhomes, campervans, and vanity vans is expected to remain a key factor for the market growth. In addition, improvement in the hotel industry at the global level as a result of increasing travel spending by millennials for business and personal trips is expected to promote the scope for portable mini fridges over the next few years.
Enthusiasm for outdoor recreational activities such as camping has grown significantly among working professionals across the globe. These trends are driving the manufacturers of RVs, caravans, and motorhomes to add more luxury to their products so that the customers find them more productive and luxurious during their outing. Customers’ preference is shifting towards more luxury during their outing, which, in turn, will prompt the use of portable mini fridge in the foreseeable future.
Portable mini fridges also find a wide application in hotel rooms and suites, which is expected to opens new avenues for the market. Moreover, the hotel industry is growing at a significant rate across the globe. Major players include Marriott International, InterContinental Hotels Group, and Hilton Worldwide are investing in the expansion of their hotel chain in the untapped markets. For instance, in 2019, Hilton group has planned to inaugurate its new nine hotels around the world including countries such as Algeria, Colombia, Tajikistan, China, and India. Increasing investment in the establishment of new hotels is projected to promote the utility of compact and portable fridge in the foreseeable future.
North America was the largest regional market, accounting for 30.7% share of the total revenue in 2018 owing to increased participation by millennials in outdoor recreational activities in U.S. and Canada. In addition, positive outlook towards the hospitality sector in U.S. on account of increasing number of foreign travelers for vacation and professional trips is expected to promote the scope for the portable mini fridges in the near future.
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Enthusiasm for outdoor recreational activities such as camping has grown significantly among working professionals across the globe. These trends are driving the manufacturers of RVs, caravans, and motorhomes to add more luxury to their products so that the customers find them more productive and luxurious during their outing. Customers’ preference is shifting towards more luxury during their outing, which, in turn, will prompt the use of portable mini fridge in the foreseeable future.
Portable mini fridges also find a wide application in hotel rooms and suites, which is expected to opens new avenues for the market. Moreover, the hotel industry is growing at a significant rate across the globe. Major players include Marriott International, InterContinental Hotels Group, and Hilton Worldwide are investing in the expansion of their hotel chain in the untapped markets. For instance, in 2019, Hilton group has planned to inaugurate its new nine hotels around the world including countries such as Algeria, Colombia, Tajikistan, China, and India. Increasing investment in the establishment of new hotels is projected to promote the utility of compact and portable fridge in the foreseeable future.
North America was the largest regional market, accounting for 30.7% share of the total revenue in 2018 owing to increased participation by millennials in outdoor recreational activities in U.S. and Canada. In addition, positive outlook towards the hospitality sector in U.S. on account of increasing number of foreign travelers for vacation and professional trips is expected to promote the scope for the portable mini fridges in the near future.
Portable Mini Fridge Market Report Highlights
- The commercial segment dominated the market and accounted for the largest revenue share of 71.9% in 2023, owing to the expanding hospitality sector.
- Offline distribution channels led the market and accounted for the largest revenue share of 83.2% in 2023 attributed to the wide availability and accessibility of products in physical retail stores.
- North America portable mini fridge market dominated the global market and accounted for the largest revenue share of 30.1% in 2023 attributed to the increasing consumer demand for convenience and compact living solutions.
Why should you buy this report?
- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments
- Competitive Landscape: Explore the market presence of key players worldwide
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
The leading players in the Portable Mini Fridge market include:
- Midea Group
- ARB
- Danby
- DOMETIC GROUP AB (PUBL)
- Living Direct, Inc.
- Engel Australia Pty Ltd.
- Haier Inc.
- Whirlpool Corporation
- Godrej Group
- Electrolux AB
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Portable Mini Fridge Market Variables, Trends, & Scope
Chapter 4. Consumer Behavior Analysis
Chapter 5. Portable Mini Fridge Market: Application Estimates & Trend Analysis
Chapter 6. Portable Mini Fridge Market: Distribution Channel Estimates & Trend Analysis
Chapter 7. Portable Mini Fridge Market: Regional Estimates & Trend Analysis
Chapter 8. Competitive Landscape
List of Tables
List of Figures
Companies Mentioned
- Midea Group
- ARB
- Danby
- DOMETIC GROUP AB (PUBL)
- Living Direct, Inc.
- Engel Australia Pty Ltd.
- Haier Inc.
- Whirlpool Corporation
- Godrej Group
- Electrolux AB
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 80 |
| Published | October 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 1.32 Billion |
| Forecasted Market Value ( USD | $ 2.43 Billion |
| Compound Annual Growth Rate | 9.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
