The household refrigerator market in Portugal grew from 100.1 thousand units in 2013 to 161.09 thousand units by 2023. During this period, market growth was particularly strong from 2016 to 2018. Notably, from 2019 to 2021, the market faced slight declines, rebounding thereafter. The average annual growth rate over the last five years reached 2.69%. The recent year-on-year growth (2022-2023) was 4.07%.
Future trends to watch for include:
- Increased demand for energy-efficient and smart refrigerators due to technological advancements and sustainability concerns.
- Potential market saturation which could slow future growth rates.
- Impact of economic conditions on consumer spending and appliance replacement cycles.
