Portable Mini Fridge Market

The 22.9 cu. ft. portable mini fridge segment is expected to grow at the highest CAGR of 5.4% from 2018 to 2025.

5933 NE WIN SIVERS DRIVE, PORTLAND, OR, UNITED STATES, May 30, 2023/EINPresswire.com/ -- According to a new report published by Allied Market Research, titled,"Portable Mini Fridge Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,". The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.

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The global portable mini fridge market size is estimated to reach $1,748.9 million in 2025 growing at a CAGR of 5.0% through the forecast period. The 45 cu. ft. segment dominated the global portable mini fridge market in 2017 and is expected to maintain the dominance throughout the forecast period. Portable mini fridge is a compact fridge with an augmented feature of portability, which is used for cooling food and drinks. Therefore, it is an ideal option for micro homes and RV (recreational vehicles) as it does not occupy a lot of space compared to the traditional counterpart. They are widely used across different hospitals and clinic to keep drugs under a certain temperature.

The portable mini fridge market is driven by rise in the preference of consuming freshly cooked food. Moreover, technological advancements leading to emergence of more energy efficient models fuel the growth of the portable mini fridge industry. Furthermore, increase in demand for cold storage in commercial vehicles, rise in the hospitality industry, and growth in popularity of mobile medical services and transport are expected to drive the growth of the global market.

However, high cost and unreliable cooling efficiency of the product hinder the growth of the global market. Moreover, increase in the adoption of micro home concepts & mobile homes and growth in adoption of recreational vehicles along with the introduction of new innovative designs are expected to provide lucrative opportunities, thereby driving the portable mini fridge market growth in future.

The report segments the portable mini fridge market based on type, application, and region. Based on type, the market can be segmented into less than 1 cu ft, 11.9 cu ft, 22.9 cu ft, 33.9 cu ft, and 45 cu ft. Based on application, the market is divided into commercial and residential use. By region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

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In 2017, the 45 cu. ft. segment accounted for the highest share in the global portable mini fridge market. This was attributed to the high demand for the product in medical sector to store drugs and other similar medical items that require cooling. However, the 22.9 cu. ft. segment is expected to grow at the highest CAGR throughout the forecast period. This is due to increase in requirements for portable cooling solutions for outing and camping. As these activities are being adopted all over the world, the demand for 22.9 cu. ft. portable mini fridge has increased and contributed to the market growth.

In 2017, the commercial use segment held a significant share in the portable mini fridge market. This segment is driven by rise in consumption of fresh food items particularly by commercial vehicle drivers. The home use segment is expected to grow at a higher CAGR throughout 2018-2025 due to growth in adoption of compact appliances for small houses and mobile home concepts.

In terms of value, Asia-Pacific and LAMEA collectively contributed around half of the global market share in the portable mini fridge market in 2017. The key players profiled in the report include ARB, Danby, Dometic Group AB, EdgeStar (Living Direct, Inc.), Engel Australia Pty Ltd., Haier Inc, Koola

Key Benefits for Portable Mini Fridge Market:

○ The report provides an in-depth analysis of the current trends, drivers, and dynamics of the portable mini fridge market to elucidate the prevailing opportunities and tap the investment pockets.
○ It offers qualitative trends and quantitative analysis of the global market from 2018 to 2025 to assist stakeholders to understand the market scenario.
○ In-depth analysis of the key segments demonstrates the types of portable mini fridge available.
○ Competitive intelligence of the industry highlights the business practices followed by key players across geographies and the prevailing market opportunities.
○ Key players and their strategies and developments are profiled to understand the competitive outlook of the market.

Reasons to buy:

• Procure strategically important competitor information, analysis, and insights to formulate effective R&D strategies.
• Recognize emerging players with potentially strong product portfolio and create effective counter-strategies to gain competitive advantage.
• Classify potential new clients or partners in the target demographic.
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• Develop and design in-licensing and out-licensing strategies by identifying prospective partners with the most attractive projects to enhance and expand business potential and Scope.
• Report will be updated with the latest data and delivered to you within 2-4 working days of order.
• Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
• Create regional and country strategies on the basis of local data and analysis.

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