The global household refrigerator and home freezer market size is expected to grow from $46.89 billion in 2021 to $48.26 billion in 2022 at a compound annual growth rate (CAGR) of 2.9%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The household refrigerator and freezer market is expected to reach $51.71 billion in 2026 at a CAGR of 1.7%.
What is the Global Household Refrigerator And Home Freezer Market?
The household refrigerator and home freezer market consists of revenues generated by entities (organizations, sole traders, or partnerships) that carry out design, manufacturing, and sales of household refrigerator and home freezers. The market includes sales of household-type refrigerators, ice boxes and upright and chest freezers.
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What drives the Global Household Refrigerator And Home Freezer Market?
The increasing consumption of processed food products such as frozen meat, vegetables, 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, 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 household refrigerators and home freezers market.
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Global Household Refrigerator And Home Freezer Market Segments
The global household refrigerator and home freezer market is segmented:
By Type: Refrigerators, Freezers, Ice Boxes, Refrigerator/Freezer Combinations
By Refrigerator Door Type: Single Door, Double Door, Side-by-Side Door, French Door
By Freezer Location: Freezer on Top, Freezer on Bottom, Freezerless
By Application: Frozen Vegetable and Fruit, Frozen Meat, Others
By Distribution Channel: Specialty Stores, Supermarkets/Hypermarkets, Online, Others
By Geography: 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, and Africa.
Household Refrigerator And Home Freezer Global Market Report 2022 provides market size and growth forecasts for the global household refrigerator and home freezer market, global household refrigerator and home freezer market share, household refrigerator and home freezer market segments and geographies, household refrigerator and home freezer market competitive landscape including leading competitors’ revenues, profiles and market shares. The household refrigerator and home freezer market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches
Global Household Refrigerator And Home Freezer Industry Players include Aggreko, Atlas Copco, Caterpillar Inc., FG Wilson, Kirloskar Electric Co. Ltd., Cummins Inc., Rolls-Royce, Wärtsilä, Yanmar Co. Ltd., and Briggs & Stratton. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
