Smart Fridge Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

Global Smart Refrigerator Market is Segmented by Type (Side-by-side Refrigerators, Bottom Freezer Refrigerators, Double Door Refrigerators, Single Door Refrigerators), by Distribution Channel (Multibrand Stores, Exclusive Stores, Online, and Other Distribution Channels), by End-User (Residential, and Comercial) and by Geography (North America, Europe, Asia-Pacific, South America, and the Middle East and Africa).

Home Market Analysis Home and Property Improvement Research Home Appliances Research Large Home Appliances Research Refrigerators Research Smart Refrigerators Research Smart Fridge Industry

Smart Fridge Market Size

Smart Fridge Market Size
Study Period 2019 - 2028
Base Year For Estimation 2021
CAGR 7.00 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Low

Major Players

Smart Fridge Market key players

*Disclaimer: Major Players sorted in no particular order
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Smart Fridge Market Analysis

The smart fridge features a touch-screen, speakers, and a voice assistant that allows someone to build shopping lists, post photos, play music, and even control the home’s other smart devices, like lights and thermostats, right from the fridge. The smart fridge also sends alerts about expiring food and offers recipes through a meal planner for meals that include those expiring items.

The rising consumer electronics industry, growing preference towards customer personalization and customization are some of the drivers driving the growth of the global smart fridge market. Increasing purchasing power and rising disposable income will further contribute towards the adoption of a smart fridge due to the improving lifestyle conditions.

Another important reason behind the rising demand for smart fridges is the tech-savvy millennial population. Smart fridges are capable of connecting to the internet, and recently there are new models that can be used to order groceries by simply using voice or touch of a button. For instance, Samsung introduced a model that uses the Groceries by Mastercard mobile app to help customers easily order and pay forthe items needed.

Smart Fridge Market Trends

This section covers the major market trends shaping the Smart Fridge Market according to our research experts:

Residential Application Segment is Dominating the Market

In the case of the residential application segment, the most significant driver is the changing lifestyles and food consumption preferences of people, with more consumers shifting towards ready-to-eat and frozen food. The residential application segment accounted for a larger revenue share in 2019 and is likely to expand at a strong rate over the forecast period.

A large part of new households comprises working singles who prefer to dine out rather than setting up their kitchen. This may be a drawback for the residential application segment growth.

Smart Fridge Market share

Asia-Pacific is Expected to Witness the Highest Growth

By Geography, Smart Fridge market can be segmented into North America, Europe, Asia-Pacific South America, and the Middle East and Africa. In the North America region, the market is mature as compared to the other regional market as they are fast in the adoption of technology. Smart Fridge market in the Asia-Pacific expected to witness maximum potential in the forecast period. Rising personal disposable coupled with the increasing purchasing power of people in the region is anticipated to expand the growth of the market over the forecast period. Smart Refrigerator market in Europe, South America and the Middle East and Africa are also projected to witness positive growth during the forecast period.

Smart Fridge Market Growth rate

Smart Fridge Industry Overview

The report covers major international players operating in the Smart Fridge Market. In terms of market share, few of the major players currently dominate the market. However, demand is driven by consumer income. Large companies compete through volume purchasing, breadth of products, and effective merchandising and marketing. Small companies focus on a market segment and compete through the depth of products and superior customer service.

Smart Fridge Market Leaders

  1. Electrolux Group

  2. Haier Group Corporation

  3. Whirlpool Corporation

  4. Samsung Electronics Co. Ltd

  5. Panasonic Corporation

*Disclaimer: Major Players sorted in no particular order

Electrolux Group, Haier Group Corporation, Whirlpool Corporation, Samsung Electronics Co. Ltd, Panasonic Corporation
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Smart Fridge Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Key Deliverables of the Study

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Drivers

    3. 4.3 Restraints

    4. 4.4 Opportunities

    5. 4.5 Recent Developments in the Smart Fridge Market

    6. 4.6 Value Chain Analysis

    7. 4.7 Porter's Five Forces Analysis

    8. 4.8 Insights on Consumer Behavior Analysis

    9. 4.9 Technological Innovations in the Industry

    10. 4.10 Impact of COVID 19 on the Market

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Side-by-side Refrigerators

      2. 5.1.2 Bottom Freezer Refrigerators

      3. 5.1.3 Double Door Refrigerators

      4. 5.1.4 Single Door Refrigerators

      5. 5.1.5 French Door Refrigerators

    2. 5.2 By Distribution Channel

      1. 5.2.1 Multibrand Stores

      2. 5.2.2 Exclusive Stores

      3. 5.2.3 Online

      4. 5.2.4 Other Distribution Channels

    3. 5.3 By End User

      1. 5.3.1 Residential

      2. 5.3.2 Commercial

    4. 5.4 By Geography

      1. 5.4.1 North America

      2. 5.4.2 Europe

      3. 5.4.3 Asia-Pacific

      4. 5.4.4 South America

      5. 5.4.5 Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Market Concentration Overview

    2. 6.2 Company Profiles

      1. 6.2.1 Electrolux Group

      2. 6.2.2 Haier Group Corporation

      3. 6.2.3 Whirlpool Corporation

      4. 6.2.4 Samsung Electronics Co. Ltd

      5. 6.2.5 Bosch

      6. 6.2.6 Midea Group

      7. 6.2.7 Panasonic Corporation

      8. 6.2.8 Hitachi

      9. 6.2.9 Frigidaire

      10. 6.2.10 LG

      11. 6.2.11 Hisense Co. Ltd

      12. 6.2.12 KenMore

      13. 6.2.13 Xiaomi Corporation

      14. 6.2.14 Liebherr Group

      15. 6.2.15 Other Companies

    3. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. APPENDIX

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Smart Fridge Industry Segmentation

A complete background analysis of the Smart Fridge Market, which includes an assessment of the parental market, emerging trends by segments and regional markets, Significant changes in market dynamics and market overview is covered in the report.

By Type
Side-by-side Refrigerators
Bottom Freezer Refrigerators
Double Door Refrigerators
Single Door Refrigerators
French Door Refrigerators
By Distribution Channel
Multibrand Stores
Exclusive Stores
Online
Other Distribution Channels
By End User
Residential
Commercial
By Geography
North America
Europe
Asia-Pacific
South America
Middle East and Africa
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Smart Fridge Market Research FAQs

The Smart Fridge Market is projected to register a CAGR of 7% during the forecast period (2023-2028).

Electrolux Group, Haier Group Corporation, Whirlpool Corporation, Samsung Electronics Co. Ltd and Panasonic Corporation are the major companies operating in the Smart Fridge Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2028).

In 2023, the North America accounts for the largest market share in the Smart Fridge Market.

Smart Fridge Industry Report

Statistics for the 2023 Smart Fridge market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Smart Fridge analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

Smart Fridge Market Report Snapshots

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