About the market…

Despite being a mature industry, the fridge and freezer market has not remained static in terms of developments that affect its business prospects. This market has fared relatively well in recent years due to a number of reasons, not least the boom in customer spending as a result of easy access to credit and high employment. In addition, issues such as the enduring trend for DIY and home makeovers have led to many homeowners revamping their kitchens and replacing their existing fridges/freezers in the process.

With the kitchen being considered both the ‘social hub’ of the household and, on the contrary, ‘too small to be anything but functional’, the door is opened to the potential and deterrents of market growth. In 2005, the market showed a 1% growth on 2004, achieved by differentiating the product and offering incentives with purchase. Such new products as US-style fridge freezers, with their added features, have attracted young new consumers and thus restarted the industry.

About Mintel’s research…

Pooling together the latest consumer research and market analysis, Mintel's new report offers you all the insight and inspiration you need for designing clever, creative and profitable marketing strategies. Use Mintel's research to:

Frame the potential for upgrading to ‘more attractive’ or more efficient models, based on consumer willingness and enthusiasm for home decoration, DIY projects, and spending on their homes

Track developing market trends

Assess market sizes and segmentation

Evaluate sales opportunities

Measure market forecasts and build realistic business models

Learn of major companies and their market shares

Evaluate the effectiveness of various distribution channels

Track product ownership by demographic grouping, life stages, media habits, and supermarket usage

Monitor factors considered by consumers the choosing

Assess attitudes towards fridges and define new target groups for focused marketing.

Intriguing findings include…

“The proportion of those who spent more than £500 on a fridge-freezer increased between 2000 and 2004.”

“One in ten consumers plan to remodel their kitchen in the next 12 months, making them prime targets for the refrigeration industry.”

“The sale of fridges has grown slowly but steadily in recent years, reflecting the undeniable popularity of fridge-freezers.”