Europe Refrigerator Market Size Analysis Report - Market Share, Forecast Trends and Outlook (2024-2032)

Europe Refrigerator Market Size

The Europe refrigerator market reached around USD 28.98 billion in 2023. The market is projected to grow at a CAGR of 5.2% between 2024 and 2032 to reach nearly USD 45.73 billion by 2032.

Europe Refrigerator Market Outlook

• Germany accounts for 20% of overall cheese production in Europe, with a per capita consumption of 24.7 kgs.

• Industrial bakeries account for 80% of all bread production in the UK, thereby accelerating the demand for refrigerators for food preservation.

• Bread consumption is the highest in Germany and Austria at nearly 80 kg annually.

Europe Refrigerator Market Growth

In 2022, Europe produced 160 million tons of milk. Nearly 70% of this was processed into butter and cheese, with total production of processed dairy food items reaching 3 million tons in 2022. Nearly 2.3 million tons of butter and 10.4 million tons of cheese were produced in Europe in 2022. The leading European countries with the highest per capita consumption of cheese are Denmark (28.1kg), Iceland (27.7 kg), Finland (27.3 kg), France (27.2 kg), and Cyprus (26.7 kg). These countries present a significant market opportunity for refrigerator manufacturers due to their high preference for processed dairy products and organic food items, which must be stored at optimum temperatures for preservation and to enjoy a long shelf life.

Personalised cooling is a popular feature of modern refrigerators, which have different compartments for cooling different food items. Magnetic cooling has emerged as a sustainable option for achieving optimum cooling within refrigerators due to their lower energy consumption requirements and minimal operating costs. Smart refrigerators have a unique setting for periodic self-cleaning, thereby enhancing the overall hygiene and safety of food consumption. The integration of IoT sensors into refrigerators enables consumers to control their home appliances remotely and ensure zero spoilage and wastage of food items.

Europe Refrigerator Industry Segmentation

Europe Refrigerator Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Top-freezer Refrigerator

• Bottom-freezer Refrigerator

• Side-by-side Refrigerator

• French Door Refrigerator

Market Breakup by Technology

• Inverter

• Non-Inverter

Market Breakup by Application

• Household

• Commercial and Industrial 

Market Breakup by Distribution Channel

• Supermarkets and Hypermarkets

• Speciality Stores

• Online

• Others

Market Breakup by Country

• Germany

• United Kingdom

• France

• Italy

• Others

Europe Refrigerator Market Share

Based on region, the market is segmented into the United Kingdom, Germany, France, and Italy, among others. Germany is projected to dominate the market, representing 28.6% of the overall market share. Over the forecast period of 2024-2032, the United Kingdom is expected to grow at a CAGR of 5.9% due to the introduction of unique and sustainable refrigerator designs.

Leading Companies in the Europe Refrigerator Market

The shift towards highly energy-efficient home appliances for environmental protection and energy conservation has led refrigerator manufacturers to produce unique models of refrigerators, which can cater to the requirements of both single-family and large-family households.

• Samsung Electronics Co., Ltd.

• LG Electronics Inc.

• Whirlpool Corporation

• Hisense Corporation

• Robert Bosch GmbH

• SMEG S.p.A.

• Electrolux AB

• AFE Group

• Miele Co. Ltd.

• Haier Inc.

• Others

Key Highlights of the Report