The total sales of minibar refrigerators in 2023 incurred a revenue of around USD 347.8 million. The total revenue from minibar refrigerator sales in 2024 could be around USD 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 USD 518.6 million.
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.
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.
Competitive Landscape
The global minibar refrigerator market remains concentrated, with a few leading manufacturers dominating a significant portion of the demand. The popularity of minibar refrigerators in the hospitality sector has surged as more accommodation businesses seek customized solutions.
In response to this trend, several new hotel minibar fridge brands have emerged in recent years, gaining a competitive advantage over traditional players by offering tailored customization services.
Recent Developments in Global Minibar Refrigerator Market
- In February 2021, Minibar Systems’ introduced a cutting-edge new product SmartFridge, which redefined hotel in-room convenience refrigeration technology with advantages for both visitors and hotels. The control panel saves up to 50% of the intended energy usage by allowing visitors to use the refrigerator when needed and it shuts down automatically when not in use. The company further claims that the hotels can now provide their guests with the best amenities they desire and profit from our core value of creating sustainable products.
- In October 2023, the ISA S.p.A. introduced the Genesis minibar, which is an inventive minibar with the charm of a classy storage unit. It was created by the firm by combining industrial culture, influenced by the finest Italian design, and modern sustainable technologies. The product, designed as a sleek and modern storage piece, has two or three aligned drawers which are soft-closing, pull-out models that are mounted on runners. Currently, two variant models are available in the market, Genesis 120, and Genesis 180.
Key Players Profiled in the Minibar Refrigerator Market Report
- ISM Makine Elektrik Sanayi ve Ticaret A.S.
- Dometic
- Felix Starch (Summit Appliance)
- Minibar Systems
- Indel B SpA
- HISENSE
- OMNITEC SYSTEMS S.L.
- Royal Minibars
- TEFCOLD Group
- Kollatron Corporation
- Bartech
Tap into Expertise: Discuss with Our Analyst on Email: sales@futuremarketinsights.com
Key Segments Covered by Minibar Refrigerator Industry Survey Report
By Technology Type:
- Absorption
- Thermoelectric or Peltier
- Compression
- Others
By End-use Application:
- Transportation
- Marine
- Cruise Ship
- Campervans or RVs
- Others
- Hospitality
- Offices
- Household
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
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