The import of refrigerators and freezers to Viet Nam stood at 660.4 million USD in 2023. This represents a year-on-year increase of 3.62%, following previous years' mixed trends. Significant variability is seen across years with a notable fluctuation from a high 38.8% growth in 2015 to a contraction in 2020 at -0.88%. Since 2021, the market has shown a steady increase, culminating in a 5-year CAGR of 4.1% by 2023. Looking ahead, the forecast predicts a continued upward trend with a 5-year CAGR of 2.63% from 2024 to 2028, indicating a moderate yet consistent growth trajectory over the next several years, expecting to reach 781.67 million USD in 2028.
Future trends to watch for:
• Increasing demand for energy-efficient and smart appliances.
• Potential impacts of economic policies and trade agreements on imports.
• Market disruptions or inflation impacts on consumer spending and import volumes.
• Technological advancements influencing product innovations and consumer preferences.
