According to the report titled ‘Global Portable Mini Fridge Market Size study, by Application (Residential and Commercial), by Distribution (Offline and Online), and Regional Forecasts 2021-2027’, available with MarketStudyReport, global portable mini fridge market is expected to show significant growth during the forecast period 2021-2027.
 

Surging demand for various vaccines, new product launches, and increased usage in modern offices with space constraint are driving demand in global portable mini fridge market. In this regard, Statista cited that the vaccines market revenue has increased from USD 44.1 billion in 2017 to USD 59.2 billion in 2020. 
 

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Notably, portable mini fridge is commonly used in the medical industry to keep drugs, vaccines, and other similar items at a specific temperature. The equipment is available in varied capacity, shapes, and sizes, and is energy-efficient as well.
 

Rising outings and picnic activities are also boosting the demand for portable min fridge in order to keep food & beverages fresh. Additionally, technological breakthroughs, and incorporation of micro & mobile home concepts are estimated to drive the industry growth forward in the foreseeable future.
 

However, dearly product cost, and inadequate cooling at elevated temperature may arrest the expansion graph of worldwide portable mini fridge market.
 

Based on application, the market is categorized into residential, and non-residential. In terms of distribution, the market segregates into online, and offline. 
 

From regional standpoint, the industry spans North America, Latin America, Europe, and Asia Pacific. Of these, North America market accounted for significant revenue share in the recent past, with younger generation increasing their participation in outdoor activities, and flourishing hospitality industry acting as growth catalysts.
 

The Asia Pacific market, on the other hand, is predicted to witness a strong growth during the projected timeline, attributed to high enthusiasm for trekking and camping among the populace, as well as a thriving hotel vertical.
 

The competitive landscape of global portable mini fridge market includes companies like Haier Group Corporation, Midea Group, Domestic Group AB, ARB Fridge Freezers, Whirlpool Corporation, Engel Distribution Pty Ltd., Danby Appliances Inc., Electrolux AB, Living Direct Inc., and The Godrej Group among others.