The Global Beauty Fridge Market size is expected to reach $213.9 Million by 2028, rising at a market growth of 8.7% CAGR during the forecast period.
A beauty fridge is a refrigerator for storing beauty and skincare products that are unstable. Products that break down or disintegrate or decompose when exposed to light or heat are recognized as unstable products. The ingredients found in such products need to be kept below a certain temperature to maintain their consistency and efficiency.
Additionally, these fridges are also known as skincare fridges and cosmetic fridges. Presently, these commodities are growing in demand for premium and luxury cosmetics and skincare products. The rise in skin care awareness, along with the high demand for cosmetic products, has propelled a dramatic increase in the use and need for beauty fridges across the world.
Beauty fridges have been found to be helpful in extending the shelf life of many products. The rising awareness about the proper storing of beauty products is driving the expansion of the market. A significant factor that contributes to the high demand for these products is the expansion of digitalization.
The expeditiously increasing adoption of the internet and social media platforms are serving as an eminent medium for boosting product and brand awareness. The product is receiving high appreciation from some of the prominent influencers as it provides an aesthetic value to their makeup corners. This, in turn, is influencing the younger generation to purchase the product, and therefore, this occurrence proves beneficial for the market.
The pandemic had a negative impact on the beauty fridge market, mainly as a result of lockdown and disruptions in supply chain activities. In the short term, the growth of the market was negative because of the closure of distribution channels and limited manufacturing operations. Additionally, restrictions on gatherings, parties, meetings, and traveling negatively impacted the beauty industry as most people limited their expenditures owing to the uncertainty of the pandemic. As a result, many companies have increased their investments in R&D and product development to broaden their product offerings and offer consumers beauty fridges equipped with advanced features.
Through numerous research and studies, it has been found that the application of cold products is exceptionally beneficial for the skin. The cold temperature of things applied to the skin, like ice or chilled toners or balm, is highly efficient in combating puffiness, open pores, and spots. This has given rise to the trend of cryotherapy-based crèmes and DIY ice rollers. In addition, the current hectic lifestyles and consumption of alcohol and junk foods have raised strong support for good skincare, and the advantages of cold product applications have garnered this support as well. Therefore, the known benefits of using beauty and cosmetic products kept in a fridge are boosting the growth of the beauty fridge market in the coming years.
With the rising trend of beauty and skincare, consumers have started demanding products that help in giving benefits to the skin without needing to spend a lot. As a result, a plethora of products is now available in the marketplaces with active ingredients or herbal or organic components. In addition, skin product manufacturers are incorporating temperature-sensitive ingredients like vitamin C, retinol, hyaluronic acids, etc., which are required to be kept at low temperatures. Therefore, both the availability of such products and beauty fridges significantly contributes to the demand for them, especially among working individuals, thereby expanding the development of the market.
In recent years, the growing demand for the beauty fridge has also led to increasing criticism of the product. More people are becoming aware of beauty fridges as a want and not a need. This influences a decrease in the demand for the product as many people do not consider it to be a necessity. Additionally, many users claim that beauty fridges are not ideal for keeping cosmetic or makeup products, as instead of preserving them, beauty fridge fastens their disintegration. Makeup products placed in the fridge display separation of constituents. Therefore, all these elements hamper the growth of the beauty fridge market.
Based on capacity, the beauty fridge market is categorized into up to 4 liters, 4 liters to 7 liters, 7 liters to 10 liters, and more than 10 liters. The 4 liters to 7 liters segment procured a considerable growth rate in the beauty fridge market in 2021. People who either use a lot of products or decide the usage of products based on skin condition on that particular day prefer to keep all their products in the beauty fridge. The preferable size to hold a bigger volume of products is 4 to 7 liters. Beauty influencers and salons may use beauty fridges of this size and hence drive the growth of the segment.
On the basis of distribution channel, the beauty fridge market is divided into online and offline. The rising preference of most people to shop offline is the main factor influencing the expansion of the segment. People prefer to shop in stores as they like to see and touch and interact with the product before purchasing. Most people also choose to buy products directly from stores rather than waiting for them to be delivered after ordering. Additionally, buying products offline provides clarity about the dimensions and weight of the product as well.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 121.4 Million |
| Market size forecast in 2028 | USD 213.9 Million |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 8.7% from 2022 to 2028 |
| Number of Pages | 140 |
| Number of Tables | 258 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Distribution Channel, Capacity, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on region, the beauty fridge market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Europe segment procured a substantial revenue share in the beauty fridge market in 2021. The rising market presence and adoption by customers of these products in some of the developed nations of the region are driving the expansion of the segment. Many international and regional market participants are launching beauty fridges in this region. Their efforts are successful as in nations with citizens having high disposable incomes the demand for beauty products is continuously increasing.
Free Valuable Insights: Global Beauty Fridge Market size to reach USD 213.9 Million by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Finishing Touch Flawless (Church & Dwight Co., Inc.), The Beauty Fridge (Quick Beauty Pty. Ltd), Cooluli, Teami LLC, COOSEON, FaceTory, Inc., Hck Refrigeration Tech. Co., Ltd., and Chefman.
By Distribution Channel
By Capacity
By Geography
The global Beauty Fridge Market size is expected to reach $213.9 Million by 2028.
Increasing trend of cold or cryotherapy-based products are driving the market in coming years, however, Concerns regarding energy use and the efficacy of the product restraints the growth of the market.
Finishing Touch Flawless (Church & Dwight Co., Inc.), The Beauty Fridge (Quick Beauty Pty. Ltd), Cooluli, Teami LLC, COOSEON, FaceTory, Inc., Hck Refrigeration Tech. Co., Ltd., and Chefman.
The expected CAGR of the Beauty Fridge Market is 8.7% from 2022 to 2028.
The Up to 4 Litres segment acquired maximum revenue share in the Global Beauty Fridge Market by Capacity in 2021 thereby, achieving a market value of $98.4 Million by 2028.
The North America market dominated the Global Beauty Fridge Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $73.8 Million by 2028.
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