Refrigerator Market to Grow at a CAGR of 4.88% During the Forecast Period
Increasing consumption of processed foods and technological advancements are expected to drive the growth of the global refrigerator market. According to TechSci Research report, “ Refrigerator Market – Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2017-2027” The global refrigerator market is expected to reach USD87.39 billion by 2027F with a CAGR of 4.88% during the forecast period. Refrigerator sales are expected to increase during the forecast period owing to increasing consumer preference toward purchasing smart refrigerator, rising per capita income, and increasing global population. However, the businesses give customers installment options, encouraging more people to buy refrigerators and boosting sales. Two primary refrigerator types trending in the global market are side-by-side refrigerators and french-door refrigerators. Several refrigerators such as LG, Samsung Hitachi, etc., have introduced smart refrigerators which are connectable to