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Hoteliers Cater to Convenience-Seeking Guests, Driving Minibar Refrigerators Market to US$518.6 Million by 2034 | Future Market Insights, Inc.

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Future Market Insights

11 Dec, 2023, 15:35 GMT

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A recent report by Future Market Insights (FMI) highlights the burgeoning hospitality and tourism industries as key drivers of the minibar refrigerator market. As guest expectations evolve, leading manufacturers are prioritizing the ideal blend of style and innovation in these compact cooling solutions.

NEWARK, Del., Dec. 11, 2023 /PRNewswire/ -- The total sales of minibar refrigerators in 2023 incurred a revenue of around US$ 347.8 million. The total revenue from minibar refrigerator sales in 2024 could be around US$ 360.6 million.


Over the next ten years, the worldwide demand for minibar refrigerators is anticipated to rise at a CAGR of 3.7% over the forecast period. By 2034, the global minibar refrigerator industry value is expected to reach US$ 518.6 million.

Unlock valuable insights - Get your PDF sample report today! https://www.futuremarketinsights.com/reports/sample/rep-gb-18632 

The demand for convenient in-room amenities, including minibar refrigerators, has grown manifold in the last few years following an upsurge in the travel and tourism sector. The dynamics of the tourism and hospitality sector also altered during the pandemic years as travelers got accustomed to amenities in their rooms, which advanced the market later.

Minibar refrigerator designs also go well with boutique hotels and specialty lodging establishments, which focus on providing individualized and special guest experiences. Minibar refrigerators with glass doors are popular at commercial locations because of their eye-catching appearance and proper presentation of packaged beverages.

"In recent years, the minibar refrigerator market outlook has been significantly impacted by the hospitality industry's drive toward personalization and customization trends. So emerging minibar refrigerators are increasingly customizing their products according to hotel requirements to accommodate dietary needs, ethnic preferences, and guest interests," says Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry.

Key Takeaways from the Global Minibar Refrigerator Market Report

  • The United States dominates the global market of compact-size refrigeration solutions, and it is poised to advance at a 2% CAGR through 2034.
  • In Asia, China is the leading manufacturer of minibar refrigerators, and during the forecast period, the growth may increase by 5% per year.
  • The demand for minibar refrigerators in Australia is projected to surge at a 3.3% CAGR from 2024 to 2034.
  • India is another remarkably growing market for minibar refrigerators; year-on-year sales are predicted to rise at a 5.4% rate until 2034.

Understand global, regional, and country-level parameters with growth opportunities, historical data (2019-2023), and forecasts (2024-2034). Buy this report today!

Competitive Landscape for Minibar Refrigerators Market Players

The market for minibar refrigerators is fragmented due to the emergence of many new payers operating at the regional level. However, a few famous minibar fridge brands like ISM, Felix, and Minibar Systems account for a substantial part of the industry.

Recent Developments by Minibar Refrigerators Market Players

  • In April 2023, the ODM Group introduced an innovative thermostatic mini fridge that can be powered by a USB cable. It can hold an eight-ounce soda can and is compact and lightweight, making it suitable for road vacations, camping, and workplace use. It comes with a 4-foot cable that is compatible with laptops and desktop systems.
  • In May 2021, LG Company released a direct-cooling, 92-liter gross capacity minibar refrigerator with two wire shelves and a freezer compartment. It has an in-built low voltage stabilizer (110–290 volts) and can easily move around over rolling wheels. Moreover, the product's stylish appearance fits perfectly with any interior decor in the kitchen, workplace, or living room.

Purchase this report now to get key companies with their Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis.

About the Author:

Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods. 

Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals. 

Explore FMI's Extensive Coverage in the Consumer Products Domain:

  • Refrigerators Market by Region - Forecast 2023 to 2033. – Review and Request to Download Sample Report.
  • Demand Forecast for Fountain Dispenser Equipment in North America by Manual and Automated Machine Type for 2024 to 2034. - Review and Request to Download Sample Report.
  • Luxury Interior Fabric Demand Forecast in North America and Europe by Curtains and Upholstery from 2024 to 2034. - Review and Request to Download Sample Report.
  • Analyzing Sales and Trends in the Women's Intimate Care Product Industry in Western Europe by Intimate Washes, Liners, and Others through 2034. - Review and Request to Download Sample Report.
  • A Study of Women's Intimate Care Product Industry in Korea Based on 41 to 50 Years Old Women and Liners from 2024 to 2034. - Review and Request to Download Sample Report.
  • Examining Sales and Deployment Trends of Japan's Fabric Stain Remover Industry by Bars/Blocks through 2034. - Review and Request to Download Sample Report.
  • Examining Sales and Deployment Trends of Fabric Stain Remover in Korea by Powder, Bars/Blocks, Pacs and Tablets and others through 2034. - Review and Request to Download Sample Report.
  • Demand Forecast for Hangover Cure Product in the United States by Capsules and Powder Product Type from 2024 to 2034. - Review and Request to Download Sample Report.

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the United Kingdom, the United States, and India. FMI's latest market research reports and industry analysis helps businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition.

Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

Contact Us
Nandini Singh Sawlani   
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube

Logo: https://mma.prnewswire.com/media/1197648/3531122/FMI_Logo.jpg

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