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Portable Fridge Market Segmented By Residential and Commercial Application in Online and Offline Distribution Channel
The global portable fridge market size was recorded at US$ 1.73 billion at the end of 2022 and is anticipated to exhibit Y-o-Y growth of 7% in 2023. Worldwide sales of portable fridges are forecasted to rise at a CAGR of 6.4% and increase from a market value of US$ 1.85 billion in 2023 to US$ 3.45 billion by the end of 2033.
Portable fridges are commonly used for camping, road trips, boating, tailgating, and various outdoor activities, allowing users to keep food and beverages cool and fresh. They are also useful for medical purposes and the storage of medications and vaccines at the required temperature.
Portable refrigerators are also widely used by roadside vendors, food truck owners, and mobile offices, ensuring the freshness of food ingredients and providing convenience. Portable fridges help preserve perishable food and supplies that can be used in emergency situations. Additionally, they are also suitable for personal use in bedrooms, dorm rooms, and offices.
| Attribute | Key Insights |
|---|---|
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Portable Fridge Market Size (2022A) |
US$ 1.73 Billion |
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Estimated Market Value (2023E) |
US$ 1.85 Billion |
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Projected Market Value (2033F) |
US$ 3.45 Billion |
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Value CAGR (2023 to 2033) |
6.4% |
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Collective Value Share: Top 3 Countries (2022) |
30% to 36% |
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The market for portable fridges has been growing steadily in recent years, driven by the increasing popularity of outdoor activities such as camping, hiking, and tailgating parties, as well as the growing trend of van life and off-grid living. Worldwide sales of portable fridges are expected to increase rapidly at a CAGR of 6.4% from 2023 and 2033, with the United States, Canada, Germany, and the United Kingdom accounting for a sizeable portion of overall demand.
The need to store temperature-sensitive medications, vaccines, and perishable food items safely is the main reason that will drive the demand for portable fridges for medical emergency preparedness and in personal user settings. The ability to maintain precise and consistent temperature control has become crucial in many aspects, further driving market expansion.
As a result, the market is expected to grow rapidly over the coming years as more people are adopting outdoor lifestyles and seeking solutions for keeping their food and beverages cold or fresh.
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Get a Customized Version“Convenience & Efficiency of Portable Fridges Driving Their Demand”
The desire for convenience and the need to maintain food safety and freshness during outdoor activities are driving the demand for portable refrigeration solutions. Advances in technology have led to the development of more efficient and portable cooling systems. Improved insulation, energy efficiency, temperature control, and the availability of various sizes and features have made portable mobile refrigerators more attractive to consumers, fueling market growth across regions.
For example, a portable fridge with a compressor system can use up to 70% less energy than a traditional cooler working for 24 hours. This can result in significant savings on electricity or fuel costs over time, which is becoming a highly appealing factor to consumers.
“High Cost and Power Requirements – Market Growth Dampener”
While the market has been growing steadily in recent years, some restraining factors are worth considering. Portable fridges can be expensive compared to traditional coolers. While prices have been coming down in recent years, a high-quality portable fridge can still cost several hundred dollars or more. This can be a barrier for some consumers who may not be willing or able to invest in such a high-cost product.
A portable fridge requires regular charging to operate, which can be a limiting factor for off-grid living or long-term outdoor activities. While some portable fridges can be powered by solar panels or batteries, others require a direct connection to a power source or generator.
However, as the demand for outdoor activities, off-grid living, and convenient refrigeration solutions continues to grow, product innovation is expected to increase the adoption of portable fridges among customers over the coming years.
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Why is the United States Market Attractive to Portable Fridge Manufacturers?
“Growing Demand for Portable Fridges Owing to Increasing Outdoor Activities”
North America accounted for a major share of 32.1% of the global market in 2022. Demand for portable fridges in the United States is being driven by a growing number of consumers who are interested in outdoor recreational activities. Additionally, the trend toward off-grid living, which is gaining popularity in the United States, is also contributing to the growth of the market in the country.
Portable fridge manufacturers are innovating new and improved products to meet the evolving needs of consumers. For example, some portable fridges now come with advanced features such as Wi-Fi connectivity, app controls, and solar panels. Overall, the United States market for portable fridges presents a significant opportunity and is expected to grow swiftly over the forecast period.
Which Aspects are Driving the Chinese Market for Portable Fridges?
“Increased Demand for Portable Fridge with Larger Capacity”
The market in China is predicted to expand at a CAGR of 9.5% over the projection period. Chinese manufacturers are developing larger-capacity portable fridges to cater to the varied needs of consumers. For example, some models can hold up to 80 liters or more, making them suitable for extended camping trips and outdoor events.
Demand for larger-capacity portable fridges is not limited to outdoor enthusiasts. An increased number of Chinese consumers are also using portable fridges for home and car use, which has increased the need for larger capacity models that can hold groceries, drinks, and other perishable items.
As a result, Chinese manufacturers are investing in R&D to develop more efficient and reliable refrigeration technology that can accommodate larger-capacity portable fridges. They are also exploring new materials and designs that can reduce the weight and size of fridges while maintaining the desired capacity.
Why are Sales of Portable Fridges Increasing Across India?
“Growing Demand for Versatile and Durable Portable Fridges”
India accounted for a revenue share of 35% of the South Asian market in 2022.
As many Indians face power outages and unreliable electricity supply, there is a need for refrigerators that can function without electricity or with minimal power consumption. To meet this demand, manufacturers are developing portable fridges that are versatile and durable.
Indian consumers are also looking for a fridge that is rugged, waterproof, and can withstand harsh outdoor conditions. Manufacturers are responding by incorporating durable materials such as high-density polyethylene (HDPE) and reinforced steel into their products to ensure that they can withstand rough handling and extreme temperatures.
Which Type of Portable Fridge is Most Popular?
“Higher Demand for Single-door Portable Fridges Globally”
A single-door portable fridge is typically smaller and more compact, making it easier to transport and set up. They are often preferred by users who need portability for shorter trips or to fit in smaller vehicles such as cars or food trucks. A single-door fridge is often more energy-efficient as it requires less power to maintain a consistent temperature due to its smaller size.
As a result, the single-door fridge segment is anticipated to grow rapidly at a CAGR of 7.3% over the forecast period.
Which Sector Widely Utilizes Portable Fridges?
“Large Spectrum of Application of Portable Fridges in Commercial Sector”
The commercial sector has been witnessing an increasing utilization of portable fridges for food and beverage preservation. The segment registered a revenue share of around 67% of the global market in 2022.
Portable fridges are becoming increasingly popular in various commercial sectors such as food and beverages, healthcare, retail, and hospitality. They are used for storing, transporting, and displaying perishable goods, including food, beverages, medications, and vaccines.
These fridges are customizable with specific convenience, flexibility, and energy efficiency settings, making them an attractive solution for businesses in different industries.
Which Sales Channel Accounts for Higher Revenue Generation for Market Players?
“Sales through Online Retail Channels Gaining Traction in Global Market”
Online retailing of portable fridges is expected to grow prominently over the forecast period at a CAGR of 10.6%.
Online retailing is expected to gain traction due to several factors such as the ability for consumers to easily compare prices and features, wider selection, competitive pricing and promotions, convenience, and the huge shift to online shopping due to the COVID-19 pandemic.
The convenience of online shopping allows customers to purchase portable fridges from the comfort of their homes without the need to physically visit a store. As a result, online retailing is becoming an attractive option for consumers in the target market.
The portable fridge market is highly competitive with a range of brands and models available at different price points. Some of the leading brands in the market include Dometic, Engel, ARB, and Yeti, among others.
These market players have a major focus on research & development as they strive to introduce novel products with extra features to enhance their market presence.
For Instance,
| Attribute | Details |
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Forecast Period |
2023 to 2033 |
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Historical Data Available for |
2018 to 2022 |
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Market Analysis |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Report Coverage |
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Customization & Pricing |
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The global portable fridge market was valued at US$ 1.73 billion at the end of 2022.
Global sales of portable fridges increased at a CAGR of 5.9% between 2018 and 2022.
North America led the global market and accounted for a market share of 32.1% in 2022.
The global market is forecasted to expand at a CAGR of 6.4% through 2033.
Dometic Group, Engel Coolers, ARB Corporation, Whynter, Norcold, Indel B, National Luna, Snomaster, Iceco, Alpicool, KingsBottle, Black+Decker, Coleman, Koolatron, and Igloo are prominent manufacturers of portable fridges.
