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Portable Mini Fridge Market- Growth In Travel & Tourism Industry, Increase In Interest In Adventure Activities And Sports

Portable Mini Fridge Market- Growth In Travel & Tourism Industry, Increase In Interest In Adventure Activities And Sports

A portable mini fridge is an ideal option to preserve medicines, food, beverage, and cosmetics during travelling. Portable mini fridge are lighter and smaller as compared to conventional ones.  Travelers and tourists mount them in their vehicles for short as well as long trips. Portable mini fridges are also known as a travel mini fridges. These type of fridges are mostly used in marine cruises leisure yachts, recreational vehicles (RVs), passenger and commercial vehicles, medical transport of vaccines and blood, and residences.

Growth in travel tourism industry, increase in interest in adventure activities and sports, and rise in social media influence are driving the growth of the portable mini fridge market. The portable mini fridge market has witnessed high demand from commercial vehicles segment during the past few years. However, high price of portable mini fridge and less demand for luxury cars and recreational vehicles in few developing economies is projected to have a hinder the portable mini fridge market in the future.

The global portable mini fridge market can be segmented based on capacity type, material, end-user, distribution channel, and region. In terms of capacity type, the market can be divided into up to 1 cu ft., 1 cu ft.-1.9 cu ft., 2 cu ft.-2.9 cu ft., 3 cu ft.-3.9 cu ft., 4 cu ft.-4.9 cu ft., 5 cu ft.-5.9 cu ft., 6 cu ft., and above 6 cu ft. Based on material, the global portable mini fridge market can be classified into stainless steel, plastic, and metal. The end-user segment of the portable mini fridge market consists of residential and commercial. Based on distribution channel, the global portable mini fridge market can be divided into online and offline. Online distribution channel includes company websites and e-commerce websites. Offline distribution channel comprises direct selling, specialty stores, retail stores, and supermarkets. The portable mini fridge market is dominated by offline channels, however, the online channel segment is expected to change the current purchasing trend in the near future.

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In terms of region, the global portable mini fridge market can be segmented into North America, Europe, Asia Pacific, Middle East Africa, and South America. North America comprises the U.S., Canada, and Rest of North America. Analysis and forecast of the portable mini fridge market in Europe includes the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East Africa comprises the analysis and forecast of the portable mini fridge market in the GCC countries, South Africa, and Rest of Middle East Africa. The South America portable mini fridge market has been segmented into Brazil, Mexico, and Rest of South America. Asia Pacific is expected to dominate the global portable mini fridge market during the forecast period. Increase in participation in sports and fishing in Asia Pacific is likely to boost the growth of the portable mini fridge market in the region in the near future.

Major companies operating in the global portable mini fridge market include ARB USA, Danby, Dometic Group AB (PUBL), EdgeStar (Living Direct, Inc.), Engel Australia Pty Ltd., Koolatron CA, Whynter LLC, Haier Inc., Tropicool Car Gadgets Pvt. Ltd., Labfreez Instruments Group Co., Ltd., Shaoxing Shangyu North Electron Manufacture Co, Ltd., and Nedis B.V. Portable mini fridge industry is fragmented and categorized by the presence of numerous vendors competing on the basis of product portfolio, price, and consumer range. Certain brands are dominating the global portable mini fridge market. Most of the players promote and sell their products through their own websites or/and through e-commerce websites.