The household refrigerator market size in Portugal has shown consistent growth from 2013 to 2023, reaching 161.09 thousand units in 2023. A strong growth period was observed from 2016 to 2019. However, the market saw a slight decline in 2020 and 2021, possibly due to economic uncertainties. Recovery began in 2022, marking a 4.31% increase, continuing in 2023 with a 4.07% rise. The five-year compound annual growth rate (CAGR) until 2023 stood at 2.69%.
Future trends to watch:
- Adoption of energy-efficient models boosted by environmental regulations.
- Increased smart technology integration in refrigerators.
- Potential impacts of inflation and changing consumer spending patterns.
