PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1251617
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1251617
Global Beauty Fridge Market is valued at approximately USD 135.3 million in 2021 and is anticipated to grow with a healthy growth rate of more than 8.4% over the forecast period 2022-2029. A beauty fridge is a refrigerator specifically designed to house unstable beauty and skincare goods. Stable products are those that degrade, disintegrate, or decompose when exposed to light or heat. Such goods ingredients must be stored at a specific temperature to preserve their uniformity and effectiveness. Additionally, these refrigerators also go by the names of skincare refrigerators and cosmetic refrigerators. These commodities are currently in greater demand as people purchase more expensive and high-end skincare and cosmetics items. The use and demand for beauty fridges have dramatically increased due to the development in skin care awareness and the increasing demand for cosmetic items. Many products shelf lives can be extended with the aid of beauty refrigerators. The industry is growing as a result of increased awareness regarding the correct storage of cosmetics. The rise of digitalization is a crucial driver in the increased demand for these items.
In addition, the abundance of information available and product visibility online are driving up consumer demand for beauty fridges, which is predominantly in developed and developing nations. During the forecast period, it is also projected that the growing manufacturer presence on online marketplaces would contribute to the growth of the global market for beauty fridges. These refrigerators are frequently found in salons and beauty shops. Over the past few years, the beauty salon sector has experienced phenomenal expansion on a global scale. According to Statista, the market for beauty and personal care generated $550.2k in revenue in 2022, with an annual growth rate of 3.80%. Furthermore, the demand for beauty fridges from commercial facilities would increase in the near future due to the growing number of hospitality businesses offering premium services and the rising consumer use of beauty salons. However, concerns about the product's effectiveness and energy utilization are restricting the market growth over the forecast period of 2022-2029.
The key regions considered for the Global Beauty Fridge Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the increasing customer spending levels brought on by a combination of rising consumer demand for cosmetics. Furthermore, it is projected that the regional market would be driven by a growth in the number of beauty salons and parlors along with an increase in the number of product releases by manufacturers in the area. Whereas, Europe is also expected to grow at the highest growth rate over the forecasting period. Factors such as growing product penetration in developed nations such as the UK, Germany, and France are probably good for regional market growth in the forecasting years.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable