Refrigeration appliances recorded strong volume growth in 2020, outperforming that seen over the review period due to the COVID-19 pandemic. As a result of the pandemic, consumers stockpiled food in preparation for retail disruption and to cater for more working from home and more meals with the family at home.
Since the outbreak of COVID-19, there has been a marked shift from store-based retailing to e-commerce. This is not just in relation to the purchase of consumer appliances but also for grocery purchases, facilitating larger, bulk purchasing of groceries with the convenience of home delivery.
In 2021, the average unit price of refrigeration appliances is set to grow notably, mainly driven by the household demand for technologically advanced and energy efficient appliances. Likewise, as ongoing COVID-19 restrictions continue, such as limited travel, etc, consumers now have more money to spend on refrigeration appliances and are therefore less price-sensitive.
Over the forecast period, innovation will be largely driven by sustainability, with more and more consumers opting for refrigeration appliances that are energy efficient, minimise food waste, and have smart features. Household purchasing patterns are changing, with sustainability concerns now shaping decision making.
In the initial stages of the forecast period, volume sales are expected to witness further decline, following growth in the review period. Decline is attributable to the length of replacement cycles and the upsurge in purchases made in 2020.
In 2022 and beyond, appliance design will continue to have a strong influence on the purchasing decision process. Households are seeking appliances that complement and add to their interior designs, and thus will give preference to refrigeration appliances best aligned to this.
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Understand the latest market trends and future growth opportunities for the Refrigeration Appliances industry in Sweden with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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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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