Global Beverage Coolers Market – Industry Trends and Forecast to 2029

Global Beverage Coolers Market Analysis and Size

Changing customer preferences, access to a wide choice of flavors, and increased consumer disposable income are some of the factors projected to boost demand for beverage coolers on a global scale. Millennials preferring beer and other sorts of alcohol, which is predicted to fuel the regional industry. Furthermore, the surge in millennial demand for carbonated beverages is likely to contribute considerably to market growth throughout the projection period. 

• Data Bridge Market Research analyses that the beverage coolers market was valued at USD 6.06 billion in 2021 and is expected to reach USD 8.55 billion by 2029, registering a CAGR of 4.40% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behaviour.

Global Beverage Coolers Market Definition

Food and beverage coolers are devices or equipment that are used to keep food and beverages cold. To lower the rate of deterioration, beverage coolers are utilized. Beverage coolers rely on a thermally insulated compartment and heat pumps for their operation. The heat pumps moved heat from the interior environment to the external environment, lowering the inside temperature below that of the surrounding environment.

Report Scope and Market Segmentation

Beverage Coolers Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Rise in the Demand for Beverages

The market for beverage coolers grew originally as a result of increased beverage consumption. People are drinking beverages at home rather than at bars and other venues due to improved availability of refreshment drink kinds and increased health concern among consumers.

• Rising Number of Government Initiative Son Green Technology

Increased government restrictions and the EPA's requirement for eco-friendly refrigerant alternatives enhance companies' product demand by ensuring compliance with these standards. Globally, environmental rules governing the raw materials and manufacturing methods of refrigerators will boost the growth of the beverage cooler industry. This is due to a growing demand for ecologically friendly items among consumers.

Furthermore, increasing level of disposable income and growing urbanization will drive market value growth. The growing popularity of alcoholic drinks is fueling the market. The increasing population coupled with changing lifestyle of people are expected to boost the market’s growth rate. The growing number of working people eating in hotels, cafes, and restaurants is driving up demand for ready-to-drink beverages and specialty foods worldwide and, hence, influencing market dynamics.  

Opportunities

• Rise in Technological Advancement

The surging technological advancement will boost new market opportunities for the market’s growth rate.

Moreover, rise in strategic collaborations and emerging new markets will act as market drivers and further boost beneficial opportunities for the market’s growth rate.

Restraints/ Challenges Global Beverage Coolers Market

However, the high cost of beverage coolers will hinder the market growth rate. The negative impact of COVID-19 outbreak on supply chain will act as market restraint and further challenge the market growth rate. Along with this, technical limitations and lack of awareness will impede the growth of beverage coolers market.

This beverage coolers market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the beverage coolers market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Beverage Coolers Market

Over the last 18 months, almost every industry on the planet has suffered a setback. This can be ascribed to severe disruptions in their respective manufacturing and supply-chain operations, resulting from multiple precautionary lockdowns and other limitations imposed by governments all over the world. The beverage coolers market is no exception,

The pandemic of COVID-19 has limited the beverage coolers market's growth in 2020. Beverage cooler sales fell slightly in 2020 as a result of the implementation of lockdown, which included the closure of shops, supermarkets, and grocery stores. Furthermore, keeping excellent health has slowed the proliferation of beverage coolers worldwide. With the end of the lockdown and a return to normalcy in the retail channel, sales of beverage coolers are likely to rise in 2021 and subsequent years.

Global Beverage Coolers Market Scope

The beverage coolers market is segmented on the basis of product type, type, temperature zones, size, cooler height, number of shelves, shelves material, finish, door swing, control type, distribution channel, application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

• Less than 200L
• 200-500L
• 500-1000L
• More Than 1000L

On the basis of product type, the market is segmented into less than 200L, 200-500L, 500-1000L and more than 1000.

Type

• Freestanding
• Built-in and Undercounter
• Countertop
• Dual Zone
• Thermoelectric
• Others

On the basis of type, the market is market is segmented into freestanding, built-in and undercounter, countertop, dual zone, thermoelectric and others.

Temperature Zones

• Single Zone Beverage Coolers
• Dual Zone Beverage Coolers
• Triple Zone Beverage Coolers
• Multi Zone (4 Or More Zones) Beverage Coolers

On the basis of temperature zones, the market is segmented into single zone beverage coolers, dual zone beverage coolers, triple zone beverage coolers and multi zone (4 or more zones) beverage coolers.

Size

• 6 - 50 Bottle
• 51 - 100 Bottle
• 101 - 200 Bottle
• More than 201 bottle

On the basis of size, the market is segmented into 6 - 50 bottle, 51 - 100 bottle, 101 - 200 bottle and more than 201 bottle.

Cooler Height

• 28 to 32 Inch
• 33 to 36 Inch
• 38 to 56 Inch
• Above 56 Inch

On the basis of cooler height, the market is segmented into 28 to 32 inch, 33 to 36 inch, 38 to 56 inch and above 56 inch.

Number of Shelves

• 1 - 2 Shelves
• 3 - 4 Shelves
• 5 - 6 Shelves
• 7 - 9 Shelves
• 9 - 12 Shelves
• More Than 13 Shelves

On the basis of number of shelves, the market is segmented into 1 - 2 shelves, 3 - 4 shelves, 5 - 6 shelves, 7 - 9 shelves, 9 - 12 shelves and more than 13 shelves.

Shelves Material

• Metal
• Tempered Glass
• Wood
• Others

On the basis of shelves material, the market is segmented into metal, tempered glass, wood and others.

Finish

• Blacks
• Glass
• Panel Ready
• Silver Tones
• Stainless Steel
• Wood Finishes

On the basis of finish, the market is segmented into blacks, glass, panel ready, silver tones, stainless steel and wood finishes.

Door Swing

• French Door
• Left Side Door
• Reversible Door
• Right Side Door
• Side by Side Door

On the basis of door swing, the market is segmented into french door, left side door, reversible door, right side door and side by side door.

Control Type

• Digital
• Electronic
• Touch
• Turn Knob

On the basis of control type, the market is segmented into digital, electronic, touch and turn knob.

Distribution Channel

• Specialty Stores
• Supermarkets/Hypermarkets
• E-Commerce
• Others

On the basis of distribution channel, the market is segmented into specialty stores, supermarkets/hypermarkets, e-commerce and others.

Application

• Alcoholic
• Non-Alcoholic

On the basis of application, the market is segmented into segmented into alcoholic and non-alcoholic.

End-User

• Residential
• Commercial
• BARS
• Hotels and Restaurants
• Lounges
• Corporate Offices
• Movie Theatres
• Bookstores
• Others

On the basis of end-user, the market is segmented into residential, commercial, bars, hotels and restaurants, lounges, corporate offices, movie theatres, bookstores and others.

Beverage Coolers Market Regional Analysis/Insights

The beverage coolers market is analysed and market size insights and trends are provided by country, product type, type, temperature zones, size, cooler height, number of shelves, shelves material, finish, door swing, control type, distribution channel, application and end-user as referenced above.

The countries covered in the beverage coolers market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the beverage coolers market in terms of market share and revenue and will continue to flourish its dominance during the forecast period. This is due to the increasing demand for refrigerated non-alcoholic and alcoholic beverages and high density of convenience stores in this region.

During the projected period, Asia-Pacific is expected to be the fastest developing region due to the swift urbanization and rising number of population.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Beverage Coolers Market Share Analysis

The beverage coolers market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to beverage coolers market.

Some of the major players operating in the beverage coolers market are:

• AB Electrolux (Sweden)
•  VIKING RANGE, LLC (US)
• Haier lnc. (China)
• Perlick Corporation (US)
• Danby (Canada)
• Climadiff (France)
• FRIGOGLASS (Greece)
• Liebherr-International Deutschland GmbH (US)
• mvpappliances (US)
• Miele & Cie. KG (Germany)
• Shenzhen SICAO Electric Appliances Co., Ltd (SICAO) (China)
• LG Electronics (South Korea)
• Siemens (Germany)
• DATRON HANDELSGES M.B.H. (Austria)
• NewAir (US)
• Vestfrost Solutions (Denmark)
• Avanti Products (Brand of The Legacy Companies) (US)
• U-Line (US)
• WHYNTER LLC (US)
• Vinotemp (US)
• Summit Appliance Division (US)
• Felix Storch, Inc (US)      

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