After receiving a boost to sales in 2022 as a result of home seclusion, demand for freezers declined in 2021 and 2022, with demand expected to further drop over the forecast period along with the easing of social distancing measures and gradual adaption to the “new normal”. Since the introduction of the “vaccine pass” in Hong Kong, the resumption of dine-in foodservice will continue to reduce the demand for additional cold storage at home.
Consumers in Hong Kong are increasingly conscious of their health and wellbeing, and are interested in refrigeration appliances that could effectively keep food fresh for longer and preserve its nutritional qualities. Mitsubishi Electric released its latest model with its Vitalight technology, which offers a special compartment for storing vegetables to keep them fresh.
High demand for refrigeration appliances emerged in a short period of time after the global economy started to reopen in the second half of 2021. The high demand and quantitative easing in major economies created uncontrollable inflation and continuously influenced the market.
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Understand the latest market trends and future growth opportunities for the Refrigeration Appliances industry in Hong Kong, China with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Refrigeration Appliances industry in Hong Kong, China, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Refrigeration appliances considers built-in and freestanding major appliances in the following categories: fridge freezers, fridges, freezers and electric wine coolers chillers.See All of Our Definitions
This report originates from Passport, our Refrigeration Appliances research and analysis database.
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