United Kingdom Refrigeration Appliances Market 2022-2028

United Kingdom Refrigeration Appliances Market 2022-2028

MARKET OUTLOOK

The refrigeration appliances market in the United Kingdom is anticipated to develop at a CAGR of 4.82% (by revenue) in the forecast period from 2022 to 2028. Also, the market (in terms of category) is anticipated to progress at a CAGR of 4.721% (by volume), during this period.

A large number of manufacturers, including Samsung, Hisense, Beko, and Haier, provide slim, narrow versions of high-capacity fridge-freezers in their premium ranges to fit in smaller kitchens. These innovations ensure increased useful storage space while keeping the appliance compact.

Also, as consumers in the UK have become more conscious about food waste, manufacturers have attempted to appeal to them with numerous food preservation technologies, such as separate temperature control to extend the shelf life of different types of food.

This innovative approach by makers to cater to the growing demand for refrigeration appliances with higher capacities and efficiencies is anticipated to fuel the studied market growth. However, the average unit price across all refrigerated appliance categories increased significantly after 2021, owing to supply chain disruptions and the rise in raw material costs. This is expected to restrain the market growth over the forecast period.

COMPETITIVE OUTLOOK

Some eminent players operating in the United Kingdom refrigeration appliances market are Indesit Company, Haier Group Corporation, LG Electronics, Hisense Group, and Samsung Electronics Co Ltd.