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Freezer Market Trends

  • Report ID: GMI10292
  • Published Date: Jul 2024
  • Report Format: PDF

Freezer Market Trends

Continuous additions ensured an increase in energy consumption and electricity costs related to the operation of traditional appliances. Regulatory bodies around the world are creating regulations that focus on reducing the energy consumption and greenhouse gas emissions of refrigerators and freezers to reduce their environmental impact. The European Commission (EC) obliges regional manufacturers to ensure that their products have the appropriate energy classification label. In 2021, the EC introduced a new regulation, the Ecodesign Requirements for Refrigeration Equipment (EU) 2019/2019, which aims to support the circular economy by emphasizing the repairability, easy disassembly and recyclability of refrigerated products.
 

Energy efficient freezers are increasingly in focus due to environmental concerns and regulations. Manufacturers are increasingly designing products with advanced insulation, compressor technology and environmentally friendly refrigerants to reduce energy consumption and operating costs. Smart freezers with IoT (Internet of Things) functions are becoming more and more common. These devices offer features such as remote monitoring, temperature control via smartphone apps and integration with smart home systems. Behind this trend is comfort and the desire to connect home devices. Consumers are looking for freezers that increase storage space and fit perfectly into the kitchen or living room. Manufacturers are responding with innovative design solutions, including slim designs, box configurations and customizable storage solutions for different user needs.
 

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

Industry size for freezer was worth USD 17.6 billion in 2023 and will expand at 3% CAGR between 2024 and 2032, owing to increasing demand for frozen foods, advancements in freezer technology, and rising disposable incomes.

The upright freezer industry will surpass USD 5.79 billion by 2032, propelled by its space-saving design and user-friendly features along with rising consumer preference for flexible storage options and modern kitchen aesthetics.

Asia Pacific industry held 45% share in 2023 due to the region’s rapid urbanization, increasing disposable incomes, and changing consumer lifestyles.

AB Electrolux, Haier, Hitachi Ltd, Daikin Industries, Danby Appliances Co, LIEBHERR, LG Electronics, Dover Corporation, Whirlpool Corporation, SAMSUNG, PHC Holdings Corporation, and Eppendorf SE, are operating in the market.

Freezer Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 176
  • Countries covered: 21
  • Pages: 160
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