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Beauty Fridge Market

Beauty Fridge Market

Beauty Fridge Market to Witness Rising Demand for Computer Temperature Control Beauty Fridge during 2021-2031

Beauty Fridge Market
FACT7067MR
  • Oct-2021
  • List of Tables : 193
  • List of Figures : 144
  • 170 Pages
  • Consumer Goods

Market Snapshot

Demand for beauty fridges in the global market is expected to reach a value of US$ 50.4 Mn in 2021, with Y-o-Y growth in 2021 pegged at 6.5%, As per Fact.MR’s industry analysis, overall beauty fridge market value is expected to expand 2X, rising at an impressive CAGR of 7.1% through 2031.

Base Year Value (2020A) US$ 47.3 Mn
Estimated Year Value (2021E) US$ 50.4 Mn
Projected Year Value (2031F) US$ 100.4 Mn
Value CAGR (2021-2031) 7.1%
Collective Value Share (U.S., U.K., Germany): Top 3 Countries 50.8%

Sales Analysis of Beauty Fridges from 2016-2020 Vs Market Outlook for 2021-2031

According to a recent survey, the beauty industry has experienced rapid growth in the past few years due to growing disposable income levels in emerging economies and increasing demand for convenience products, among other factors. Key factors that are influencing market growth include significant increase in the number of working women as well as an overall rise in the adoption of various cosmetic procedures, such as hair removal services, facial treatments, laser skin resurfacing surgeries, and others.

Furthermore, latest trends have given a boost to the demand for easy-to-use beauty appliances, offering faster results with little or no downtime between usage sessions. To address such needs, manufacturers have introduced innovative refrigerators such as the “beauty fridge”, which facilitates storage space for cosmetics such as creams, lotions, fragrances, and a mirror and lights for makeup application.

Fact.MR, a market research and competitive intelligence provider, projects the market to remain steady, exhibiting growth at 7.1% CAGR from 2021 to 2031, in comparison to a CAGR of 5.8% posted from 2016 to 2020.

Development of different skincare products and other facial and hair treatments is driving demand for beauty fridges in countries such as the U.S., U.K., and Germany. Growing interest in daily grooming products, especially among the urban working population, is anticipated to propel market growth.

Why are Beauty Fridges Gaining Traction in the Industry?

Demand for beauty fridges is expected to experience an escalation over the assessment period. This is attributed to rise in awareness of beauty treatments and latest beauty trends, which include facial and hair treatments, laser surgeries, nail extension, and other beauty products & services.

Consumers are focusing on consumption of freshly produced beauty products, and to preserve and store them, using beauty fridges will help retain their quality and prolong their shelf-life.

The working population that has very little time to spend on beauty services and visit salons can use these beauty fridges to store daily grooming products and other beauty care products that are easy to use and perform better with a good outcome in less time. This is anticipated to contribute to market growth on a global level.

Due to rising demand, a wide range of growth opportunities may be offered to beauty fridge manufacturers such as Teami, Midea and Chefman, which are expected to increase the sales of beauty fridges.

Beauty fridge market region value share and opportunity analysis by region by Fact.MR

Country-wise Insights

Why are Beauty Fridge Manufacturers Eyeing Europe?

Europe’s value share contribution to overall market revenue is high. This is attributed to strong production footprint of all key market participants in the overall value chain process in the region.

Europe holds the second-largest market share of 31% in the global market, which is expected to show robust market growth to 2031 at a CAGR of 6.3% and reach a market value of US$ 28.9 Mn.

How are Beauty Fridge Sales Shaping Up across the U.S.?

The United States is one of the major players contributing to the sale of beauty fridges in the North American beauty fridge market. Consumers are increasingly choosing products that are helpful in preserving and storing beauty care products.

Demand for beauty fridges is estimated to be valued at US$ 18.4 Mn in 2021 in the U.S. The country holds the largest market share of 93% in the North American market, and is anticipated to expand steadily at a CAGR of 5.6% through 2031.

What Allows China to Lead the East Asia market for Beauty Fridges?

In East Asia, manufacturers of beauty fridges in China have led to an increase in its value share contribution, and have made it a leading player amongst all other countries in the region. This is attributed to rising awareness towards beauty treatments and the need to keep up with daily grooming trends in the market.

China holds the largest market share of 42.7% in the regional market, and is expected to experience commendable growth at a CAGR of 7.4% over the forecast period.

However, the market in South Korea is expected to witness even higher growth at a CAGR of 11.5%.

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Category-wise Insights

How Much Revenue is Generated through Sale of Skincare Products?

Sales of skincare products account for a 54.3% market share, and are projected to surge at a CAGR of 8% over the assessment period. Alongside, sales of cosmetic products are expected to gain a market share of 35.9% in the near future.

Which Product Type is Witnessing High Consumption?

Sales of computer temperature control accounts for 69.6% market share, and are projected to increase at a CAGR of 7.8% over the next ten years, thereby substantially driving overall market expansion.

How are Online Sales of Beauty Fridges Impacting Overall Market Expansion?

According to Fact.MR, online sales account for 10.7% market share, and are projected to surge at a CAGR of 12.8% through 2031. Rising role of e-Commerce in emerging nations is catering to high growth for online sales of beauty fridges, as people continue to buy non-essential products from the comfort of their homes.

How Has COVID-19 Impacted the Market?

The global industry (comprising skincare, hair care, color cosmetics, fragrances, and personal care) has been heavily influenced by the COVID-19 crisis. Sales in the first quarter of 2020 were weak due to widespread store closures. The industry responded positively to the crisis and brands are switching their manufacturing to produce cleaning agents and hand sanitizers, and offering free beauty services for frontline workers.

On the other side, as conditions are improving with a decline in COVID-positive cases, lifting of lockdowns and other restrictions have helped the economy in regaining its pace, including the market for beauty fridges

Competitive Landscape

In today’s era, consumers have become more beauty conscious and have increased their spending on makeup products. They are consuming more makeup products due to changes in lifestyle and growing emphasis on external beauty.

Consumers are looking for organic products that can be applied on the face and stay all day long, yet have no side effects on the skin and can be stored and preserved in a beauty fridge. This has convinced manufacturers to provide large varieties of products that fulfil the requirements of customers and offer products that enhance customer loyalty.

For instance-

  • Flawless launched a mini-finishing touch beauty fridge with a compact design, including 2 shelves, a single door basket, and customizable stickers, which can accommodate skincare, makeup products, and other organic beauty care products
  • Fria, the skincare fridge, preserves clean ingredients, ensures beauty products last longer, and maintains peek optimal freshness of all skincare, which makes it different from most competitor products.

An Adaptive Approach to Modern-day Research Needs

Beauty Fridge Industry Report Scope

Forecast Period 2021-2031
Historical Data Available for 2016-2020
Market Analysis Value in US$ Mn
Key Regions Covered
  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East Africa
Key Countries Covered
  • U.S.
  • Canada
  • Mexico
  • Brazil
  • Mexico
  • Argentina
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • BENELUX
  • U.K
  • Nordic
  • Spain
  • Japan
  • South Korea
  • New Zealand
  • China
  • India
  • Indonesia
  • Malaysia
  • Thailand
  • Australia
  • GCC Countries
  • South Africa
Key Market Segments Covered
  • Product Type
  • Capacity
  • Buyer Group
  • Application
  • Sales Channel
  • Region
Key Companies Profiled
  • Beautyfridge
  • Cooluli
  • Teami
  • HCK Fridge
  • Haier
  • SAST
  • CHIGO
  • Face Tory
  • Flawless
  • Midea
  • Grossag
  • Chefman
Pricing Available upon Request

Beauty Fridge Industry Report by Category

  • Product Type:

    • Mechanical Temperature Control
    • Computer Temperature Control
  • Capacity:

    • Less than 1 cu. Ft. Beauty Fridges
    • 1-1.9 cu. Ft. Beauty Fridges
    • 2-2.9 cu. Ft. Beauty Fridges
    • 3-3.9 cu. Ft. Beauty Fridges
    • 4-5 cu. Ft. Beauty Fridges
  • Buyer Group:

    • Household Beauty Fridges
    • Commercial Beauty Fridges
  • Application:

    • Skincare Products
    • Hair care Products
    • Cosmetics
  • Sales Channel:

    • Wholesalers/Distributors
    • Hypermarkets/Supermarkets
    • Multi-brand Stores
    • Exclusive Stores
    • Independent Small Stores
    • Online Retailers
    • Other Sales Channels

Beauty Fridge Market: Report Scope

A recent study published by Fact.MR on the beauty fridge market offers global industry analysis for 2016-2020 and an opportunity assessment for 2021-2031. The study offers comprehensive assessment of the most important market dynamics. After conducting thorough research on the historical and current growth parameters, the growth prospects of the market are obtained with maximum precision.

Report Chapters

Executive Summary

The executive summary of the demand for beauty fridge includes the market country analysis, technology roadmap analysis, demand-side and supply-side trends, opportunity assessment, and recommendations on the global demand for beauty fridge.

Chapter 01 – Market Overview

Readers can find the detailed segmentation and definition of the beauty fridge market in this chapter, which will help them understand basic information about the demand for beauty fridge. This section also highlights the inclusions and exclusions, which help the reader understand the scope of the global beauty fridge market report.

Chapter 02 – Market Risks and Trends Assessment       

In this chapter, readers can find a detailed analysis of recent trends which elevate the demand for beauty fridge in the market. Also, this chapter includes the effectiveness of the trend and the potential market risks (optimistic, likely and pessimistic scenarios) in the forecast period.

Chapter 03 – Market Background

The associated industry assessment of the demand for beauty fridge is carried out in this section. The macroeconomic factors affecting the growth of the demand for beauty fridge are provided in this section and the impact of these macroeconomic indicators is analyzed. This section also included policy developments and regulatory scenarios, global forecast factor-relevance and impact and value chain analysis. Here, readers can also find the market dynamics like drivers, restraints and the opportunities of the demand beauty fridge across the globe.

Chapter 04 – Key Success Factors

The chapter is associated with strategic promotional activity, details of the products that are categorically launched for the key consumer clusters, establishing flexible supply chains to promote the miracle product, the product promotion strategies by renowned celebrities and stylists, and marketing strategies used by key manufacturers.

Chapter 05 – Global Market Demand Analysis 2016-2020 and Forecast, 2021-2031

This chapter includes a detailed analysis of the historical demand for the beauty fridge market (2016-2020), along with an opportunity analysis for the forecast period (2021-2031). Readers can also find the absolute $ opportunity for the current year (2019– 2020) and incremental opportunity for the forecast period (2021-2031).

Chapter 06 – Pricing Analysis

This chapter includes the analysis of country-level pricing by product type and pricing break-up that consists of manufacturing level, distributor level and retailer level. It also mentions the global average pricing analysis benchmark.

Chapter 07 – Global Market Demand (Size in US$ Mn) Analysis 2016-2020 and Forecast, 2021-2031

This chapter includes a detailed analysis of the historical demand for the beauty fridge market (2016-2020), along with an opportunity analysis for the forecast period (2021-2031). Readers can also find the absolute $ opportunity for the current year (2019– 2020) and incremental opportunity for the forecast period (2021-2031) along with Y-o-Y trend analysis.

Chapter 08 – Global Market Analysis 2016-2020 and Forecast, 2021-2031

This chapter includes a detailed analysis of the historical demand for the beauty fridge market (2016-2020) by market taxonomy including product type, capacity, buyer group, application, sales channel and regions, along with an opportunity analysis for the forecast period (2021-2031). Readers can also find the absolute $ opportunity for the current year (2019– 2020) and incremental opportunity for the forecast period (2021-2031) along with market attractiveness analysis, market trends, key participants and market drivers and restraints across the globe.

Chapter 09 – North America Market Analysis 2016-2020 and Forecast, 2021-2031

This chapter includes a detailed analysis of the historical demand for the beauty fridge market (2016-2020) by market taxonomy including product type, capacity, buyer group, application, sales channel and countries (the US and Canada), along with an opportunity analysis for the forecast period (2021-2031). Readers can also find the absolute $ opportunity for the current year (2019– 2020) and incremental opportunity for the forecast period (2021-2031) along with market attractiveness analysis, market trends, key participants and market drivers and restraints.

Chapter 10 – Latin America Market Analysis 2016-2020 and Forecast, 2021-2031

This chapter includes a detailed analysis of the historical demand for the beauty fridge market (2016-2020) by market taxonomy including product type, capacity, buyer group, application, sales channel and countries (Brazil, Mexico and Rest of LA), along with an opportunity analysis for the forecast period (2021-2031). Readers can also find the absolute $ opportunity for the current year (2019– 2020) and incremental opportunity for the forecast period (2021-2031) along with market attractiveness analysis, market trends, key participants and market drivers and restraints.

Chapter 11 – Europe Market Analysis 2016-2020 and Forecast, 2021-2031

This chapter includes a detailed analysis of the historical demand for the beauty fridge market (2016-2020) by market taxonomy including product type, capacity, buyer group, application, sales channel and countries (Germany, Italy, France, U.K., Spain, Russia, Benelux and the Rest of Europe), along with an opportunity analysis for the forecast period (2021-2031). Readers can also find the absolute $ opportunity for the current year (2019– 2020) and incremental opportunity for the forecast period (2021-2031) along with market attractiveness analysis, market trends, key participants and market drivers and restraints.

Chapter 12 – South Asia Market Analysis 2016-2020 and Forecast, 2021-2031

This chapter includes a detailed analysis of the historical demand for the beauty fridge market (2016-2020) by market taxonomy including product type, capacity, buyer group, application, sales channel and countries (India, Thailand, Indonesia, Malaysia and the Rest of South Asia), along with an opportunity analysis for the forecast period (2021-2031). Readers can also find the absolute $ opportunity for the current year (2019– 2020) and incremental opportunity for the forecast period (2021-2031) along with market attractiveness analysis, market trends, key participants and market drivers and restraints.

Chapter 13 – East Asia Market Analysis 2016-2020 and Forecast, 2021-2031

This chapter includes a detailed analysis of the historical demand for the beauty fridge market (2016-2020) by market taxonomy including product type, capacity, buyer group, application, sales channel and countries (China, Japan and South Korea), along with an opportunity analysis for the forecast period (2021-2031). Readers can also find the absolute $ opportunity for the current year (2019– 2020) and incremental opportunity for the forecast period (2021-2031) along with market attractiveness analysis, market trends, key participants and market drivers and restraints.

Chapter 14 - Oceania Market Analysis 2016-2020 and Forecast, 2021-2031

This chapter includes a detailed analysis of the historical demand for the beauty fridge market (2016-2020) by market taxonomy including product type, capacity, buyer group, application, sales channel and countries (Australia and New Zealand), along with an opportunity analysis for the forecast period (2021-2031). Readers can also find the absolute $ opportunity for the current year (2019– 2020) and incremental opportunity for the forecast period (2021-2031) along with market attractiveness analysis, market trends, key participants and market drivers and restraints.

Chapter 15 – MEA Market Analysis 2016-2020 and Forecast, 2021-2031

This chapter includes a detailed analysis of the historical demand for the Beauty fridge market (2016-2020) by market taxonomy including product type, capacity, buyer group, application, sales channel and countries (GCC Countries, North Africa, South Africa and the Rest of MEA), along with an opportunity analysis for the forecast period (2021-2031). Readers can also find the absolute $ opportunity for the current year (2019– 2020) and incremental opportunity for the forecast period (2021-2031) along with market attractiveness analysis, market trends, key participants and market drivers and restraints.

Chapter 16 - Key Country Analysis

This chapter includes a detailed analysis of the historical demand for the Beauty fridge market (2016-2020) by market taxonomy including product type, target age group, sales channels and countries (US, Canada, Mexico, Brazil, Germany, Italy, France, U.K., Spain, Russia, China, Japan, South Korea, India and GCC Countries), along with an opportunity analysis for the forecast period (2021-2031). Readers can also find the absolute $ opportunity for the current year (2019– 2020) and incremental opportunity for the forecast period (2021-2031) along with market attractiveness analysis.

Chapter 17 – Brand Assessment

Readers can find the brand identity (as product, as an organization, as a person, as a symbol), target audience, positioning strategies, brand strategies and key brands (Haier, Chefman, Stylepro, Iker, Tropicool, Vanity Planet Fria, SMEG, and many more).

Chapter 18 – Market Structure Analysis- Global Assessment

This chapter includes the company dashboard, the analysis of industry structure by tier of companies, the analysis of company shares by top players and the competition benchmarking matrix.

Chapter 19 – Competition Deep Dive

Readers can find the overview, product portfolio, sales footprint and strategy overview (marketing and product strategies) by different competitors in the market that includes Beautyfridge, Face Tory, Chefman, Haier, Teami, Cooluli, HCK Fridge, CHIGO, Flawless, Midea, and others.

Chapter 20 - Assumptions and Acronyms

This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the global beauty fridge market report.

Chapter 21 – Research Methodology

This chapter helps readers understand the research methodology followed to obtain various conclusions, as well as important qualitative and quantitative information, on the global beauty fridge market.

- FAQs -

The global beauty fridge market is estimated to be worth over US$ 50 Mn in 2021.

The market is anticipated to surpass US$ 100 Mn valuation by 2031-end.

From 2016 to 2020, sales of beauty fridges experienced increase at 5.8% CAGR.

Haier, Beautyfridge, Cooluli, HCK Fridge, and Midea account for 35%-40% of the global market share.

The U.S., U.K., Germany, China, and Japan are top five countries reflecting consistently high demand for beauty fridges.

Germany accounts for a significant share in the European market beauty, equivalent to 24%.

The U.S. beauty fridge market share in 2021 is 93% in North America, while the Australian market holds a share of 64.6% in Oceania.

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What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

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