The UK household refrigerators and freezers market witnessed fluctuations over the past decade with values peaking and dipping over the years. As of 2023, the market stood at 1.1912 billion Euros. Between 2013 and 2023, notable year-on-year variations include a peak growth of 12.98% in 2014 and a significant decline of 7.01% in 2016. From 2019 to 2023, the market showed mixed trends with a notable decline of 3.66% in 2020, an 8.57% rise in 2021, a slight decrease of 0.9% in 2022, and a modest increase of 1.05% in 2023. The Compound Annual Growth Rate (CAGR) over the past five years stood at 1.58%. Looking ahead, the market is forecasted to reach 1.2573 billion Euros by 2028, with an expected 5-year CAGR of 0.83%, indicating a steady but slow growth trajectory.
Future trends to watch for include advancements in energy-efficient technologies, increasing smart refrigerator adoption, and potential impacts of economic factors such as inflation and consumer spending power. Additionally, environmental regulations and sustainability initiatives may drive innovation and influence market dynamics.