The Business Research Company’s Household Refrigerator And Home Freezer Global Market Report 2021 – COVID-19 Impact and Recovery
LONDON, GREATER LONDON, UK, October 11, 2021 /EINPresswire.com/ — Household refrigerators and home freezer manufacturers are implementing technologies such as IoT and embedded sensors in their products to improve overall functionality. Manufacturers are introducing advanced human-machine interface designs in refrigerators and also manufacturing refrigerators that can automatically recognize the type and weight of the food stored in the refrigerators, and adjust and monitor the temperature as per requirement.
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.
The global household refrigerator and home freezer market size is expected to grow from $70.94 billion in 2020 to $74.94 billion in 2021 at a compound annual growth rate (CAGR) of 5.6%. The growth 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 market is expected to reach $91.06 billion in 2025 at a CAGR of 5%.
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Major players covered in the global household refrigerator and home freezer industry are LG Electronics, Haier, Samsung, Panasonic Corporation, Godrej, Electrolux, Whirlpool, Robert Bosch, Liebherr-International AG, Dover Corporation.
TBRC’s global household refrigerator and home freezer market report is segmented by type into refrigerators, freezers, ice boxes, refrigerator/freezer combinations, by refrigerator door type into single door, double door, side by side door, French door, by freezer location into freezer on top, freezer on bottom, freezer less, by application into frozen vegetable and fruit, frozen meat, other applications, by application into by distribution channel, specialty stores, supermarkets/hypermarkets, online, others.
Household Refrigerator And Home Freezer Global Market Report 2021 – 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, Freezer Less), By Application (Frozen Vegetable and Fruit, Frozen Meat, Other Applications), By Application (By Distribution Channel, Specialty Stores, Supermarkets/Hypermarkets, Online), COVID-19 Impact and Recovery is one of a series of new reports from The Business Research Company that provides household refrigerator and home freezer market overview, forecast household refrigerator and home freezer market size and growth for the whole market, household refrigerator and home freezer market segments, and geographies, household refrigerator and home freezer market trends, household refrigerator and home freezer market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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