The U.S. refrigerator market size is estimated to expand at a CAGR of 4.68% over the forecast period. The surge is on account of the increasing popularity of intelligent and smart freezers.
This information is provided by Fortune Business Insights™ in its research report, titled “U.S. Refrigerator Market, 2023-2030”.
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Segments:
Based on product type, the market is categorized into French door refrigerator, bottom freezer refrigerator, top freezer refrigerator, and side by side refrigerator. On the basis of distribution channel, the market is segmented into offline and online.
Report Coverage:
The report offers a comprehensive coverage of the key trends propelling the market expansion throughout the forecast period. It further gives an analysis of the major factors boosting the U.S. refrigerator market share over the study period. These insights have been furnished after extensive data collation from credible sources.
Drivers and Restraints:
Growing Consumer Inclination Toward Frozen Food Products to Propel Industry Expansion
One of the vital factors propelling the U.S. refrigerator market growth is the increasing consumer inclination toward the consumption of frozen vegetables, meat, and other ready-to-eat snacks. The market expansion can be further credited to the escalating consumption of cold beverages and snack foods by millennials.
However, the market expansion could be affected by the high costs associated with smart freezers.
Competitive Landscape:
Leading Companies Ink Partnership Deals to Strengthen Industry Presence
Prominent market players are focused on the adoption of a series of initiatives for strengthening the positions of their businesses. These include partnership agreements, formation of alliances, collaborations, and launch of new products. Citing an instance, in November 2021, Midea America rolled out a branded suite of kitchen appliances. These also included a French door refrigerator that provides a new design as well as innovative features.
Key Industry Development:
May 2022: Whirlpool Corporation launched WoW Studios, Whirlpool’s Chicago-based marketing organization. The studio constitutes a multidisciplinary team functional across the company’s North American brand portfolio, including JennAir, KitchenAid, Whirlpool, Maytag, and Amana.
List of Key Players Mentioned in the Report:
Samsung (South Korea)
LG Electronics Inc. (South Korea)
Whirlpool Corporation (U.S.)
Panasonic Corporation (Japan)
Hitachi, Ltd. (Japan)
Electrolux AB (Sweden)
Godrej Group (India)
Haier Group Corporation (China)
Midea Group (China)
Voltas Limited (India)
Browse Detailed Summary of Research Report:
https://www.fortunebusinessinsights.com/u-s-refrigerator-market-107670