Demand for beauty fridges in the global market is expected to reach a value of US$ 50.4 Mn in 2021, with Y-o-Y growth in 2021 pegged at 6.5%, As per Fact.MR’s industry analysis, overall beauty fridge market value is expected to expand 2X, rising at an impressive CAGR of 7.1% through 2031.
According to a recent survey, the beauty industry has experienced rapid growth in the past few years due to growing disposable income levels in emerging economies and increasing demand for convenience products, among other factors. Key factors that are influencing market growth include significant increase in the number of working women as well as an overall rise in the adoption of various cosmetic procedures, such as hair removal services, facial treatments, laser skin resurfacing surgeries, and others.
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Current Trends
- Mini Beauty Fridges: Compact, countertop-sized beauty fridges are in high demand, allowing consumers to store their skincare products conveniently in bathrooms or dressing areas.
- Customizable Storage: Some beauty fridges feature adjustable shelving and compartments to accommodate various product sizes, including facial masks, serums, creams, and rollers.
- Skincare Organization: Beauty fridges are often marketed as skincare organization solutions, encouraging consumers to categorize and store their products effectively.
- LED Lighting: Many beauty fridges come equipped with LED lighting, creating an attractive display and making it easy to locate products.
- Portable Options: Portable beauty fridges with a handle or strap are gaining popularity, allowing users to take their skincare essentials on the go.
- Sustainability: Eco-conscious consumers are looking for beauty fridges with energy-efficient features and materials, aligning with the broader sustainability movement.
Competitive landscape:
In today’s era, consumers have become more beauty conscious and have increased their spending on makeup products. They are consuming more makeup products due to changes in lifestyle and growing emphasis on external beauty.
Consumers are looking for organic products that can be applied on the face and stay all day long, yet have no side effects on the skin and can be stored and preserved in a beauty fridge. This has convinced manufacturers to provide large varieties of products that fulfil the requirements of customers and offer products that enhance customer loyalty.
For instance-
- Flawless launched a mini-finishing touch beauty fridge with a compact design, including 2 shelves, a single door basket, and customizable stickers, which can accommodate skincare, makeup products, and other organic beauty care products
- Fria, the skincare fridge, preserves clean ingredients, ensures beauty products last longer, and maintains peek optimal freshness of all skincare, which makes it different from most competitor products.
Beauty Fridge Industry Report by Category
· Product Type:
- Mechanical Temperature Control
- Computer Temperature Control
· Capacity:
- Less than 1 cu. Ft. Beauty Fridges
- 1-1.9 cu. Ft. Beauty Fridges
- 2-2.9 cu. Ft. Beauty Fridges
- 3-3.9 cu. Ft. Beauty Fridges
- 4-5 cu. Ft. Beauty Fridges
· Buyer Group:
- Household Beauty Fridges
- Commercial Beauty Fridges
· Application:
- Skincare Products
- Hair care Products
- Cosmetics
· Sales Channel:
- Wholesalers/Distributors
- Hypermarkets/Supermarkets
- Multi-brand Stores
- Exclusive Stores
- Independent Small Stores
- Online Retailers
- Other Sales Channels
Market Drivers
- Product Preservation: Skincare and beauty products often contain ingredients that degrade or become less effective when exposed to high temperatures. Beauty fridges help extend the shelf life of these products by keeping them at a cooler temperature.
- Enhanced Application Experience: The cool sensation of applying chilled skincare products is considered soothing and refreshing. Many consumers enjoy the sensation, particularly for products like facial masks, serums, and eye creams.
- Rise of Self-Care: The self-care movement has led to increased demand for skincare and beauty products, with consumers seeking ways to optimize their skincare routines for relaxation and well-being.
- Clean Beauty Trend: As clean and natural beauty products gain popularity, consumers are more conscious of the ingredients in their skincare products. Refrigeration can help preserve natural ingredients and maintain product integrity.
- Influence of Social Media: Social media influencers and beauty bloggers have played a significant role in popularizing beauty fridges. The aesthetically pleasing appearance of these fridges makes them highly shareable on platforms like Instagram.
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Questionnaire answered in the Market outlook Report of Beauty Fridge include:
- What is the key strategy deployed by large players to maximize Beauty Fridge Market growth?
- What are the main challenges faced by players in the Beauty Fridge market Demand?
- With the advent of technological advancement, how will the Beauty Fridge market landscape change over the forecast period?
- What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Beauty Fridge market size?
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