Market Trends of Europe Household Refrigerator Industry
Growth of Urbanization Creates Demand for Household Appliances
The revenue of household appliance purchases increased compared to the previous year. User penetration was 21.9% in the previous and is expected to hit 33% by the forecasted period. Furthermore, with a population that is more concentrated in urban regions, people are spending more on lifestyle changes, which are fueling the growth of the market. With 95%, 85%, and 82% of the total population living in cities and urban areas of Europe's most urbanized cities, Malta, the United Kingdom, and the Netherlands, there is a surplus demand for household appliance accessories.
Growth of Household Ownership Rate of Refrigerators in Europe
Major appliances such as ovens, dishwashing machines, freezers, microwaves, refrigerators, vacuum cleaners, and washing machines are owned by many households across the Europe. Each one has different requirements when it comes to our fridges and freezers: as much storage space as possible, long-lasting food freshness, innovative yet timeless design, and the use of high-quality materials that ensure an appliance has a long service life. Romania, Portugal, and Italy are the countries with the highest household ownership rate of refrigerators amongst the European countries shown in the breakdown in 2022. Belgium and Sweden have the highest household ownership rate of freezers with more than Sixty percent respectively, according to the Statista Global Consumer Survey.
