Consumers are now increasingly adopting e-commerce websites for the purchase of electronics including mini fridge as they can provide a wide range of products with special pricing and great discounts. Moreover, e-commerce websites help to get products as per the specific requirement of the customers even if the product is not available in the market of a particular region. Leading e-commerce websites including Alibaba and Amazon offer a wide range of products across the globe. Factors such as ease of shopping, convenience, and easy product accessibility irrespective of geographic boundary lines help to promote the scope for these channels to purchase products like portable mini fridges.

Seattle, WA -- (SBWire) -- 11/29/2019 --Increasing enthusiasm for outdoor recreational activities among millennials at the global level as a result of rising awareness regarding improved fitness is expected to promote the use of Portable Mini Fridges for keeping the freshness of food and beverages. Moreover, rising demand for the portable and compact fridge in personal vehicles and Recreational Vehicles (RV) among the adventure lovers is expected to promote the use of various potable mini fridges over the next few years.

Over the past few years, participation in outdoor recreational activities including outing, picnics, camping, trekking, and adventurous road trips among the consumers of different age groups has propelled the demand for portable mini fridges. These mini fridges are compact in size, lightweight, and consume low energy, which is perfect for storing food, beverages, and even medicines for the outdoor trips. Above-mentioned advantages are increasing the adoption of portable mini fridges among the buyers.

These portable mini fridges are also widely used in the hospitality sector including hotel rooms and suits, where they add luxury during hotel staying. Over the past few years, the hospitality sector has grown at a significant rate. According to the statistics provided by the International Hotel & Restaurant Association (IH&RA), the hospitality industry contributes USD billion every year to the global economy. This major addition of the revenue in the economy is expected to increase the number of hotel chains, thus promoting the use of portable mini fridge over the forecast period.

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Global Portable Mini Fridges market competition by top manufacturers/players, with Portable Mini Fridges sales volume, Price (USD/Unit), revenue (Million USD) and market share for each manufacturer/player; the top players including Indel B, ARB, Danby, Dometic, Engel, EdgeStar, Electrolux, Haier, Koolatron, Whirlpool, Whynter, AGA Marvel, Avanti Products, Coleman, Gourmia, Kegco, Felix Storch, FridgeFreeze, Igloo, LG Electronics, Midea, MCA Corporation, Panasonic, Sears Holdings Company, Uber Appliance, U-Line, Vinotemp International, Xelectron

The residential sector is expected to emerge as a lucrative segment over the projected period. Rising interest in minibar among working class professionals at the global level is expected to promote the scope for portable mini fridge in the coming years. Additionally, growing popularity of mobile homes as they are considered affordable for the first-time home buyers is expected to promote the use of various portable mini fridges over the next few years.

North America was the largest regional portable mini fridge market, accounting for Approx. 30.7% share of the global revenue in 2018. Increased participation by millennials in outdoor recreational activities, along with strong foothold of the hospitality sector including hotels, is expected to remain a key factor in driving the market for portable mini fridge. Asia pacific is expected to be the fastest growing market, expanding at a CAGR of Approx. 6.0% from 2019 to 2027 owing to increasing enthusiasm for camping, trekking, and other outdoor recreational activities among youths in the region. In addition, booming hotel industry is expected to drive the market for portable mini fridge in the region.

These players are offering lightweight, compact, and technologically advanced fridge in order to cater to increasing demand for portable mini fridge among customers. Furthermore, key manufacturers are adopting various strategies such as innovative product launch, expansion of retails as well as e-commerce channels, and mergers and acquisitions in order to cater to the vast consumer base.

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