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May 2025
The household refrigerators and freezers market accounted for USD 119.31 billion in 2024 and is expected to reach around USD 194.35 billion by 2034, with a CAGR of 5% from 2025 to 2034. The demand for household refrigerators and freezers is increasing due to the rising urbanization, which requires these appliances in homes.
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Household refrigerators and freezers refer to kitchen appliances that maintain low temperatures, which play an essential role in preserving various beverages and food. The average temperature of the refrigerator is 37.4°F, which helps in slowing down the bacteria growth in the preserved food items, and the average temperature of the freezer is -0.4°F, which helps in storing frozen foods for a longer time.
The rising focus on energy-efficient appliances is one of the major drivers which has managed to attract a significant consumer base in recent years. The majority of the consumer base prefers energy-efficient appliances like refrigerators, which run continuously throughout their use. These factors are leading towards the growth of energy-efficient models, which are highly rated and prove to be cost-effective in the long run.
The governments and regulatory bodies are also focusing on reducing greenhouse gas emissions, which will play a crucial role towards the growth of the products which are verified by the EU and US energy guide standards. The rising focus of the United Nations (UN) on sustainable adoption is anticipated to create a huge business base for the startups.
| Report Attributes | Details |
| Market Size in 2025 | USD 125.28 Billion |
| Expected Size by 2034 | USD 194.35 Billion |
| Growth Rate | CAGR of 5% |
| Base Year in Estimation | 2024 |
| Forecast Period | 2025-2034 |
| Dominant Region | Asia Pacific |
| Segment Covered | By Product, By Capacity, By Structure, By Price range, By Distribution Channel, By Region |
| Key Companies Profiled | LG, Samsung, Sub-Zero, Toshiba, Whirlpool, BSH, Electrolux, GE Appliances, Godrej, Haier, Hisense, Hitachi, Liebherr, Midea, Panasonic |
The integration of Internet of Things (IoT) and Artificial Intelligence (AI) is playing a significant role in the rising demand for kitchen appliances like refrigerators and freezers. These technologies are connecting WI-FI, Bluetooth and other voice assistants, which are allowing the users to manage the temperature, monitor the status and receive maintenance alerts through smartphone applications.
Additionally, the integration of AI is also giving better insights on how to manage food waste through better inventory management. The rising disposable incomes in the urban areas are creating a rapid demand for the household refrigerators and freezers market. The rising focus on data analyzing is expected to boost the outcomes with more modernization in these appliances in the future.
The growing popularity of kitchen appliances is marking significant advancements in these products, which increases their overall pricing. As a result, companies are mainly focusing on innovating these products, which are usually not affordable for individuals in rural areas. The lower income rates in these regions also affect their ROI, which may not benefit the consumers during bill payback and maintenance costs during the initial years. The lower understanding of high-rated appliances is also playing a restraining factor in the market.
Asia Pacific dominated the global household refrigerators and freezers market by registering the largest revenue share in 2024. The dominance of the region is attributed to the higher middle-class population in countries like India, China and Japan, which attract the majority of the sales and manufacturing in the region. These countries are also witnessing rapid urbanization, which is changing their lifestyle patterns and preferences. The dominance of manufacturing companies like Samsung, LG, Haier and many others is expanding rapidly, which is helping in generating more revenue.
The semi-urban regions in the country are increasing their spending on various home appliances like refrigerators in their households. The rising Western influence is also changing their dietary habits towards packaged and Western foods, which is creating a significant demand in the household refrigerators and freezers market. The Indian government is also promoting energy conservation awareness through adopting UN initiatives, which is helping in promoting energy-efficient appliances. Additionally, the individuals are also adopting the use of e-commerce websites, which will create more demand in the future.
North America is anticipated to rise at the fastest CAGR during the forecast period of 2025 to 2034. The growth of the region is attributed to the technological infrastructure in countries like Canada and the US, which are focusing on innovating advanced products for individuals. The region has a higher demand for packaged and frozen foods, which requires these appliances on a larger scale. Majorly, the individuals are spending on these appliances, which will boost the demand for smart refrigerators.
The United States stands as a prominent player in the household refrigerators and freezers market. The higher per capita income in the country is one of the major factors which aims to boost these advanced appliances on a larger scale. Additionally, regulations from the US EnergyGuide also play a vital role in promoting the use of energy efficient kitchen appliances.
The top-mounted refrigerator segment marked its dominance by generating the highest revenue share in 2024. The appliance usually includes a freezer compartment at the top of the refrigerator. The dominance of the segment is attributed to its wider appeal in the small and medium-sized homes due to space concerns and affordability. The household refrigerators and freezers market is expanding rapidly due to the higher production of energy-efficient products, which are expanding at a rapid pace. Moreover, the urban housing concept is also playing an influential role, as compact homes will require more top-mounted refrigerators.
The side-by-side segment is expected to rise at the fastest CAGR during the forecast period of 2025 to 2034. These refrigerators have two vertical doors where one for the refrigerator and the other for the freezer. These refrigerators are gaining popularity due to their premium appeal, which is attracting significant consumers in recent years. The growing kitchen aesthetic trends help in giving a unique appeal to their overall kitchen base. Many companies are innovating these smart side-by-side door refrigerators, which have advanced features.
The freestanding segment accounted for the largest revenue share in 2024. The dominance of the segment is attributed to its ease of installation, which also helps in the frequent shifting of these appliances. The Majority of the families in the developing regions prefer these structures, which are cheaper as compared to the others. The household refrigerators and freezers market is expanding rapidly due to the higher company focus on these products, which increases their availability and demand in the overall appliance industry. The increasing number of rental homes in the developing areas is anticipated to create more demand for these fridges in the upcoming years.
The 16 cu. Ft. to 30 cu. Ft. segment accounted for the largest revenue share in 2024. These sizes are widely preferred due to their ideal size, which can fit in the majority of the housing and kitchen space. The companies are also introducing energy-efficient models for these sizes, which may also help towards the growth of the household refrigerators and freezers market in the long run. The higher market fit is also attracting significant investments to make advancements in these products for better offerings.
The more than 30 cu. Ft. segment is anticipated to grow at the fastest CAGR during the forecast period of 2025 to 2034. The growing trend for luxury kitchens is one of the major factors which is attracting significant opportunities for companies to offer advanced products in the market. The changing lifestyles are anticipated to raise the preferences for AI-featured kitchen appliances.
The medium segment generated the highest revenue share in 2024. The dominance of the segment is attributed to the higher affordability of the consumer base, which prefers quality-based products at affordable pricing. The majority of middle-class families prefer value for money products which maintain the balance between performance, size, and features. The rising concept of apartment homes in the urban areas is managing to attract a significant consumer base from all over the world.
The high price segment is anticipated to emerge as the fastest growing from 2025 to 2034. The rising lifestyle shift is marking significant technological adoption in daily lives, including kitchen appliances like refrigerators. The household refrigerators and freezers market is anticipated to rise massively due to the technological integration in these appliances. The majority of the brands are also advertising on a large scale, which will help them to increase their revenue in the upcoming years.
The offline segment accounted for the largest revenue share in 2024. The dominance of the segment is attributed to the higher worldwide presence of retail shops, which also provide after-purchase services to the customers. The higher physical purchase is attributed to the availability of the product in the stores, which allows them to inspect their features and size before purchasing. The household refrigerators and freezers market is expanding rapidly due to instant delivery and installation from these stores, which improves consumer satisfaction.
The online segment is anticipated to rise at the highest CAGR during the forecast period of 2025 to 2034. The rapid expansion of e-commerce platforms like Amazon, Flipkart and Myntra is playing a crucial role in the rising popularity of online purchases due to many factors, like additional discounts. The household refrigerators and freezers market is expanding rapidly due to the rising digital presence of leading companies like Samsung and LG, which are gaining consumer trust and reliability in these products. The rise of technologies is also helping consumers to virtually place the products in their kitchen settings and get a better understanding of the product.
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