Global Beauty Fridge Market to Record Significant Rise in Revenue Share During the Forecast Period

Demand for beauty fridges is projected to witness commendable rise in the worldwide beauty industry over the assessment period of 2021-2031. Rising awareness about various beauty treatments and need to preserve & store beauty products to increase their shelf-life is expected to drive market growth. According to a recent report by Fact.MR, a market research and competitive intelligence provider, the global beauty fridge market is projected to surpass a valuation of US$ 50 Mn in 2021, and surge at a CAGR of around 7.1 % through the end of 2031.

The market is expected to see more sales via online retailers over the future years, anticipated to surge at a CAGR of 12.8%. e-Commerce has proven to be crucial for the market, especially in light of the global COVID-19 pandemic, where businesses are finding it extremely difficult to maintain sales and efficient distribution channels.

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Beauty Fridge Industry Report by Category
• Product Type:
o Mechanical Temperature Control
o Computer Temperature Control
• Capacity:
o Less than 1 cu. Ft. Beauty Fridges
o 1-1.9 cu. Ft. Beauty Fridges
o 2-2.9 cu. Ft. Beauty Fridges
o 3-3.9 cu. Ft. Beauty Fridges
o 4-5 cu. Ft. Beauty Fridges
• Buyer Group:
o Household Beauty Fridges
o Commercial Beauty Fridges
• Application:
o Skincare Products
o Hair care Products
o Cosmetics
• Sales Channel:
o Wholesalers/Distributors
o Hypermarkets/Supermarkets
o Multi-brand Stores
o Exclusive Stores
o Independent Small Stores
o Online Retailers
o Other Sales Channels

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Key Takeaways from Market Study

The North America market is estimated to be valued at US$ 19.8 Mn in 2021, and to register a value CAGR of 5.7% through 2031, due to expansion of retail chains, both, physical and digital.

Europe is one of the dominant regions in this market and is projected to reach a value of US$ 28.9 Mn by 2031, mainly due to increase in consumption of skincare products.

Strong production footprint of key market participants in China has made it hold the largest market share of 42.7% in the East Asia market.

The market is segmented based on product type, where, the computer temperature control segment holds a high share of 69.6%.

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This release was published on openPR.