Minibars Market Report

Market Insights

The Minibars market is projected to grow from USD xx million in 2020 to USD xx million by 2026 at a CAGR of around 4.1% during the forecast period.

Figure: Minibars Market Size, 2020-2026 (USD Million)

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What is a minibar?

A minibar is defined as a tiny low refrigerator during a bedchamber or cruise liner stateroom. The hotel staff fills it with drinks and snacks for the guest to buy during their stay. It is equipped a definite inventory of products, with a list. The guest is charged for goods consumed when trying out of the hotel.

Key Players

Key players operating in the Minibars market are-

• Bartech Systems International Inc (US)
• Dometic Group (Sweden)
• Indel B (Italy)
• Vitrifrigo (Italy)
• Minibar Systems (US)
• Royal Minibars (US)
• JennAir (US)
• Technomax LLC (US)

Market Dynamics

The growth of the minibars market is driven by the widespread use of minibars in hotels across the globe. The growing emphasis of hotel owners on delivering an exclusive experience to their guests and generating additional revenues is likely to drive the growth of the global minibars market at a significant rate during the review period. Additionally, surging demand for advanced minibars with innovative features is likely to create lucrative opportunities for the market players during the review period.

Segments' Analysis

Application Trends

By application, the minibars market has been bifurcated into transportation and commercial & residential buildings. Under these, the commercial & residential buildings segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period. The segment growth can be attributed to the increasing number of minibars in hotels.

Regional Trends

By region, the market in North America accounted for the largest market share in 2020 and is projected to grow at a significant CAGR during the assessment period. The regional growth is primarily attributed to the high product adoption rate coupled with the presence of key market players such as Minibar Systems (US) and Royal Minibars (US). The market growth in the Asia-Pacific region is expected to be driven by the increasing adoption of minibars in hotels in developing countries particularly China and India coupled with the rising per capita disposable income of the consumers.

COVID-19 Impact on Minibars Market

The outbreak of the COVID-19 virus has affected the growth of the minibars market significantly. Stringent lockdown measures and restricted movement of people affected the production and product supply for a short period and thus, affected the market growth.

Critical Questions Answered in the Report

• What are the key trends in the Minibars market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the Minibars market?
• What are the key strategies adopted by the major vendors to lead in the Minibars market?
• What is the market share of the top vendors?

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Target Audience

Here is the list of the group of customers that the minibars market hopes to have the greatest opportunity to convert-

• Minibars distributors
• Minibars suppliers
• Minibars manufacturers
• Logistics organizations
• Government bodies

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