Summary

Mexico refrigerator market is a significant and growing sector within the country's appliance industry. Mexico has a large consumer base with increasing purchasing power, urbanization, and changing lifestyles, contributing to the demand for refrigerators. The Mexican refrigerator market is influenced by several key factors. Firstly, affordability and value for money are crucial considerations for consumers. Many Mexican households prioritize cost-effective options that offer essential features and functionality at a reasonable price point. Energy efficiency is another important factor in the Mexican market. With rising energy costs and environmental concerns, consumers are increasingly seeking energy-efficient refrigerators to reduce electricity consumption and save on utility bills. Manufacturers are responding by introducing models that meet or exceed energy efficiency standards and carry eco-labels. The market is also shaped by the preferences for capacity and size. Mexican consumers often require larger storage capacities to accommodate their needs, particularly in larger households or extended families. Therefore, refrigerators with spacious interiors and flexible storage configurations are preferred. Design and aesthetics play a role in the purchasing decisions of Mexican consumers. Sleek and modern designs, along with options that complement various kitchen styles, are favoured. In terms of distribution, the Mexican refrigerator market is served through a variety of channels. These include appliance retailers, department stores, supermarkets, and online platforms. The availability of multiple distribution channels allows consumers to access a wide range of brands and models, providing them with ample choices.

According to the research report "Mexico Refrigerator Market Overview, 2028," published by Bonafide Research, The Mexico refrigerator market is expected to grow at above 5.4% CAGR from 2023 to 2028. Mexican households often require refrigerators with larger storage capacities to accommodate their needs. Refrigerators with spacious interiors, multiple compartments, and flexible storage configurations are preferred to store a variety of food items and meet the demands of larger families. Mexican consumers prioritize energy-efficient refrigerators that help reduce electricity consumption and lower utility costs. Energy-saving features and models that meet or exceed energy efficiency standards are highly preferred. Mexican consumers appreciate stylish and visually appealing refrigerators. Modern designs, sleek finishes, and options that blend well with kitchen aesthetics are highly preferred. Brand reputation and trustworthiness play a significant role in consumer preferences. Well-established and reputable brands that have a track record of delivering quality and reliable products often garner higher preference. There are popular brands and manufacturers who plays significant role in refrigerator market. The name of brands are Mabe, Whirlpool, Samsung, LG, Frigidaire, Electrolux, Daewoo, and Hisense.

Mexico has regulations in place to minimize the environmental impact of refrigerators. These regulations aim to control the use of substances with ozone-depleting potential, such as chlorofluorocarbons (CFCs) and hydrochlorofluorocarbons (HCFCs). Manufacturers must comply with restrictions on the use of these substances during production and servicing of refrigerators. The Mexican government has quality control measures in place to ensure that refrigerators meet specified standards and performance criteria. Manufacturers may be required to obtain certifications or undergo testing by authorized laboratories to demonstrate compliance with quality and performance requirements. The Mexican government enforces safety standards for electrical appliances, including refrigerators. These standards cover aspects such as electrical safety, mechanical safety, and protection against fire hazards. Manufacturers must ensure that their products meet these safety standards to ensure consumer protection. Refrigerators sold in Mexico are required to display energy efficiency labels. These labels provide information on energy consumption, energy efficiency rating, and estimated annual electricity consumption. The labels help consumers make informed choices and promote energy-efficient products in the market.

Refrigerators with advanced food preservation technologies are becoming popular in the Mexican market. Features like multi-airflow systems, humidity control, and dedicated zones for fruits, vegetables, and meat help maintain optimal storage conditions and extend the shelf life of perishable items. Design aesthetics play an important role in the Mexican market. Manufacturers are incorporating sleek and modern designs with stainless steel finishes, glass panels, and minimalist controls to complement contemporary kitchen styles and enhance the overall visual appeal of refrigerators. There is an increasing focus on using eco-friendly materials in refrigerator manufacturing. Manufacturers are exploring alternatives to harmful substances like CFCs and HCFCs and using recycled and sustainable materials to reduce the environmental impact of their products. Manufacturers are focusing on flexible and adjustable storage options in refrigerators. Removable shelves, adjustable compartments, and specialized storage areas for specific food items allow consumers to optimize their refrigerator space and organize their groceries more efficiently.

The distribution channel in the Mexico refrigerator market consists of various channels, including retail stores, online retail, distributors/wholesalers, specialty stores, and hypermarkets/supermarkets. Retail stores, specifically appliance stores, are highly preferred as they offer a wide selection of refrigerators, provide a physical shopping experience, and employ knowledgeable staff to assist customers. Online retail is also growing in popularity, providing convenience and a broader range of options. Distributors/wholesalers act as intermediaries between manufacturers and retailers, ensuring efficient product availability. Specialty stores cater to specific consumer preferences, while hypermarkets/supermarkets offer refrigerators alongside regular grocery shopping. These distribution channels play a vital role in reaching consumers, providing product availability, and offering after-sales services, contributing to the overall success of the refrigerator market in Mexico.

Mexican consumers are often price-sensitive, seeking affordable options. This puts pressure on manufacturers and retailers to offer competitively priced refrigerators without compromising on quality or features. Mexico's vast geography and infrastructure limitations can pose challenges in terms of distribution and logistics, particularly in reaching remote or rural areas efficiently and cost-effectively. While energy efficiency is gaining importance, there is still a need for greater awareness among consumers about the long-term benefits of energy-efficient refrigerators. Educating consumers about energy savings and promoting energy-efficient models can be a challenge. The Mexican refrigerator market faces competition from imported products, particularly from countries with lower manufacturing costs. This can impact local manufacturers and require them to maintain competitiveness through innovation and quality. The market needs to continuously adapt to evolving consumer preferences and emerging trends, such as smart features, eco-friendly options, and changing design aesthetics.

Considered in this report
• Geography: Mexico
• Historic year: 2017
• Base year: 2021
• Estimated year: 2022
• Forecast year: 2028

Aspects covered in this report
• Mexico Refrigerator market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product Type
• Single – door
• Double – door
• Side by side
• French door
• Other type

BY Distribution Channel
• Hypermarket and supermarket
• Specialty Retailers
• Online

By Applications
• Household
• Commercial use

By Weight
• Small capacity
• Medium capacity
• Large capacity
• Extra large

By Technology
• Inverter
• Non- inverter

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual reports of companies, and analysing government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age groups, and gender. Once we have primary data with us. we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Bottled water Market, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

ページTOPに戻る

Table of Contents