The latest report on “Portable Mini Fridge Market (Type – Less than 1 Cu. Ft., 1 – 1.9 Cu. Ft., 2 – 2.9 Cu. Ft., 3 – 3.9 Cu. Ft., and 4 – 5 Cu. Ft.; Application – Commercial Use, and Home Use): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025.” The global portable mini fridge market is projected to grow at a CAGR of 5.0% over the forecast period of 2019-2025.
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Growing Tourism and Hospitality Sector Drive the Growth of Portable Mini Fridge Market
The major players in the portable mini fridge market are adopting strategies such as merger, acquisition, and new product launches to maximize their market share. Companies are investing in research and development to innovate new designs and new models with additional features.
The growing tourism and hospitality sector drive the growth of portable mini fridge market. Nowadays people often go for picnics and outings. A portable mini fridge is required in a picnic to maintain the freshness of food. The rising demand for cold storage in commercial vehicles boost the growth of portable mini fridge market. The portable mini fridge has low power consumption and it is lightweight that provides convenience. The increasing awareness about the advantages of a portable mini fridge propels the portable mini fridge market.
In addition, these portable mini fridges are useful in small homes and for small families. Technological advancements encourage new efficient models that promote the growth of portable mini fridge market. The rising demand for adventure sports and camping fuel the growth of a portable mini fridge market. On the other hand, portable mini fridges have some disadvantages such as limited storage and cooling efficiency that hampers the growth of portable mini fridge market. Moreover, growing research and development stimulate innovations that create new opportunities for the growth of a portable mini fridge market.
Asia-Pacific Region is Expected to be Dominant Global Portable Mini Fridge Market
On the basis of geography, the global portable mini fridge market is classified into North America, Asia-Pacific, Europe, and the Rest of the World. The Asia-Pacific region is expected to be dominant in the global portable mini fridge market. The increasing number of picnics, camping, and rising demand for adventure sports in the Asia-Pacific region contribute to the growth of the Asia-Pacific portable mini fridge market. Europe is anticipated to be the second largest region in the global portable mini fridge market. The rising adoption of smart and energy saving appliances propel the growth of Europe portable mini fridge market.
Segment Covered
The report on global portable mini fridge market covers segments such as type, and application. On the basis of type, the sub-markets include less than 1 cu. ft., 1 – 1.9 cu. ft., 2 – 2.9 cu. ft., 3 – 3.9 cu. ft., and 4 – 5 cu. ft. On the basis of application, the sub-markets include commercial use, and home use.
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Companies Profiled:
The report provides profiles of the companies in the market such as ARB, Danby, Dometic Group AB, Living Direct, Inc., Engel Australia Pty Ltd., Haier Group, Koolatron, Godrej Group, Whynter, LG Electronics Inc., and Other companies.
Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the portable mini fridge.
=> Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.