In 2022, strong shipments of chest freezers surprised even consumer appliances manufacturers, given consumers’ spending early in the pandemic due to the anticipated need for additional food storage. Unexpected strong demand for small freezers, especially given the weakened demand for other refrigeration appliances, demonstrates a potentially untapped market for brands to produce small refrigeration appliances.
The five-year retail volume growth forecast for refrigeration appliances is low, given the strong sales growth during the pandemic and the general negative economic outlook. Most consumers are unlikely to upgrade their refrigeration appliances before the end of the product’s replacement cycle, and consumers who did not upgrade their appliances during the pandemic may hold off making a major purchase, given the economic uncertainty and inflation.
Given the economic uncertainty and a correction in sales following a surge during the pandemic, manufacturers of refrigeration appliances are looking to drive sales by encouraging consumers in the premium space to upgrade their appliances with differentiated upgraded smart technology and design offerings. Brands such as Bosch, Samsung and GE have been developing AI technology that recognises ingredients within the fridge, informs the user of expiry dates, and suggests recipes given the ingredients to hand and their expiry dates.
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Understand the latest market trends and future growth opportunities for the Refrigeration Appliances industry in USA 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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