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Beauty Fridge Market to Reach $123.3 Million by 2034, Growing at 7.1% CAGR
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Social Media Influencers Increasing Appeal of Beauty Fridges by Showing Them Off on Personal Care Product Arrangement Videos: Fact.MR Report
Social Media Influencers Increasing Appeal of Beauty Fridges by Showing Them Off on Personal Care Product Arrangement Videos: Fact.MR Report
The global beauty fridge market is estimated to generate revenue worth US$ 62.1 million in 2024. According to a recently updated research report by Fact.MR, a market research and competitive intelligence provider, the market has been projected to increase at 7.1% CAGR between 2024 and 2034.
Globally, beauty fridges are becoming more popular, and social media sites such as Facebook, Instagram, TikTok, YouTube, and others are contributing significantly to this trend. Several beauty influencers are widely utilizing beauty fridges in their skincare routines to show how they organize and keep their products. Because of this, several customers are getting influenced by these videos and are purchasing beauty fridges to duplicate similar setups in their beauty rooms.
North America is forecasted to account for a significant portion of the worldwide beauty fridge market over the next ten years. Sales are continuously increasing in the region due to the high demand and popularity. The well-established e-commerce industry is also supporting their sales because consumers are widely preferring these platforms to purchase beauty fridges.
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Key Takeaways from the Market Study:
“To attract consumers, key companies in the beauty fridge market are creating a variety of products with distinctive features such as integrated LED lighting, svelte designs, temperature settings with automatic temperature adjustments and other features,” says a Fact.MR analyst
High Consumer Preference for Beauty Fridges with 1 to 1.9 cu. Ft. Capacity
More consumers are purchasing beauty fridges with a capacity of 1 to 1.9 cu. fit because of their optimal dimensions for individual use and effective utilization of available space. This particular fridge size is ideal for residential use because it is not overly big and therefore not very unwieldy, yet it still has enough space to hold essential skincare and cosmetics items.
Because they don't distract from the counters, restrooms, and dressing tables, clients who value the products' aesthetic appeal and quality adore them. Small fridges are also environmentally beneficial as they consume less energy to keep their lights on while maintaining product organization and accessibility. This allows them to meet storage needs without taking up more space.
Beauty Fridge Industry News:
Key players in the beauty fridge market are developing innovative products with features such as built-in LED lighting, sleek designs, adjustable temperature controls, and auto temperature adjustments to attract more consumers. In December 2023, beauty technology pioneer Beautigloo launched its latest innovations in the United States, introducing a revolutionary beauty fridge and face massagers at CES 2024. The start-up, known for its collaboration with luxury brands like Dior and Shiseido, aims to enhance beauty routines with its cutting-edge technology. Earlier, in August 2022, Aldi introduced a compact refrigerator designed specifically for beauty enthusiasts to maintain the freshness of skincare and makeup products, ensuring optimal results.
Leading Players Driving Innovation in the Beauty Fridge Market:
Key industry participants like Beautyfridge; Cooluli; Crownful; Cooseon; Teami; HCK Fridge; Haier; SAST; CHIGO; FaceTory Inc.; Flawless; Koolatron; Midea; Grossag; Chefman; Beautigloo; Aldi etc. are driving the beauty fridge industry.
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More Valuable Insightson Offer
Fact.MR, in its new offering, presents an unbiased analysis of the beauty fridge market, presenting historical demand data (2019 to 2023) and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on product (mechanical temperature control, computer temperature control), capacity (less than 1 cu. ft., 1 to 1.9 cu. ft., 2 to 2.9 cu. ft., 3 to 3.9 cu. ft., 4 to 5 cu. ft.), buyer group (household, commercial), application (skincare products, hair care products, cosmetics), and sales channel (wholesalers/distributors, hypermarkets/supermarkets, multi-brand stores, exclusive stores, independent small stores, online retailers), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).
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CAGR stands for Compound Annual Growth Rate. It represents the mean annual growth rate of an investment over a specified time period, assuming the investment grows at a steady rate.
E-commerce refers to buying and selling goods or services using the internet. It includes online retail, electronic payments, and online marketplaces.
Beauty fridges are small refrigerators designed specifically for storing skincare and cosmetic products at optimal temperatures to enhance their effectiveness.
Market share is the percentage of an industry's sales that a particular company controls. It is a measure of a company's competitiveness in the market.
Product innovation involves creating new or improved products to meet consumer needs and preferences, often leading to increased market share and profitability.
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