Dublin, Oct. 11, 2022 (GLOBE NEWSWIRE) -- The "Global Home Freezers Market Report 2022, by Product, by Application, by Type of Door, by Capacity" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global freezers market.
The global home freezers market is expected to grow from $9.76 billion in 2021 to $10.40 billion in 2022 at a compound annual growth rate (CAGR) of 6.6%.
The growth is mainly due to the companies resuming their operations and adapting to the new normal while 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 $12.18 billion in 2026 at a CAGR of 4%.
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The main products of the home freezers market are chest freezers, upright freezers, and others. A chest freezer is a freezer shaped like a chest with a door that opens by lifting up. The types of doors are 1 door, 2 doors, 3 doors, 4 doors. The capacity used is 200 and below, 200-300, 300-500, 500, and above. The applications are residential, commercial, industrial.
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 freezers market growth. Due to busy lifestyles, consumers are increasingly relying on processed food, prepared meals that require freezers 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 freezers market.
Intense pricing pressure on manufacturers is restraining the growth of the freezers market. The market has numerous players competing in terms of price, specifications, and other characteristics. Durable goods such as TV, freezers are more price elastic than necessities. People are more likely to purchase when there is a reduction in the price of the goods and less likely to purchase when there is a price hike.
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 freezers and also manufacturing freezers that can automatically recognize the type and weight of the food stored in the refrigerators, adjust and monitor the temperature as per requirement.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the home freezers market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Major players in the home freezers market are Daihan Scientific, ThermoFisherScientific, Haier Group Corporation, AB Electrolux, Hitachi Ltd, LG Electronics, Liebherr Group, Siemens Home Appliances, Brandt, and Beverage-Air Corporation.
Key Topics Covered:
1. Executive Summary
2. Home Freezers Market Characteristics
3. Home Freezers Market Size And Growth
3.1. Global Freezers Historic Market, 2016 - 2021, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Freezers Forecast Market, 2021 - 2023F, 2026F, 2031F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Home Freezers Market Segmentation
4.1. Global Home Freezers Market, Segmentation By Product, Historic and Forecast, 2016-2021, 2023F, 2026F, 2031F, $ Billion
- Chest Freezer
- Upright Freezer
- Other Products
4.2. Global Home Freezers Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2023F, 2026F, 2031F, $ Billion
- Residential
- Commercial
- Industrial
4.3. Global Home Freezers Market, Segmentation By Type Of Door, Historic and Forecast, 2016-2021, 2023F, 2026F, 2031F, $ Billion
- 1 Door
- 2 Door
- 3 Door
- 4 Door
4.4. Global Home Freezers Market, Segmentation By Capacity, Historic and Forecast, 2016-2021, 2023F, 2026F, 2031F, $ Billion
- 200 & below
- 200-300
- 300-500
- 500 & Above
5. Home Freezers Market Regional And Country Analysis
5.1. Global Home Freezers Market, Split By Region, Historic and Forecast, 2016-2021, 2023F, 2026F, 2031F, $ Billion
5.2. Global Home Freezers Market, Split By Country, Historic and Forecast, 2016-2021, 2023F, 2026F, 2031F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/8sq7ft
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