Global Chest and Upright Freezer Market 2016-2020

An overview of the chest and upright freezer market

Technavio’s market research analyst predicts the global chest freezer market to grow steadily at a CAGR of over 3% while the upright freezer market is expected to grow at a CAGR of over 4% during the forecast period. One of the major drivers for the growth of the market is the growth in sales of frozen food products. Evolving economic, social, and demographic scenarios worldwide have influenced the perception of frozen food, thereby making it conducive to the rapid expansion of the global frozen food industry.

The boom in new residential construction and kitchen remodeling projects will also drive the market during the forecast period. With the increase in disposable income and improvement in standards of living, consumers are investing more on renovating their kitchens, opting for sophisticated, minimalistic, and practical designs. This has created a high demand for built-in appliances and innovative designs like modular kitchens, thereby motivating vendors to add built-in cold appliances to their portfolio to fulfill the needs of consumers. This trend is expected to follow over the years, thus leading to the growth of the overall market.

Product segmentation and analysis of the chest and upright freezer market

• Upright freezers
• Chest freezers