U.S. and Canada Beverage Coolers Market – Industry Trends and Forecast to 2030

U.S. and Canada Beverage Coolers Market Analysis and Size

With a rise in consumer demand for smart coolers, the beverage cooler anticipates the market demand. To effectively cater to and entice consumers to buy them, the manufacturers are introducing innovations and technologies such as performance optimization and smart coolers with sensors. These elements are fueling the global market expansion for beverage coolers. The spoilage of food and beverages is also lessened by the rising temperature and weather uncertainties. The demand for beverage coolers is also driven globally by increased beverage consumption. Through the demand for large sizes bottles at various occasions, 101-200 bottle dominates.

Data Bridge Market Research analyses that the beverage coolers market, valued at USD 314.35 million in 2022, will reach USD 407.58 million by 2030, growing at a CAGR of 3.3% during the forecast period of 2023 to 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, 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 behavior.

U.S. and Canada Beverage Coolers Market Scope and Segmentation  

Market Definition

Food and beverage coolers are appliances or equipment that keep food and beverages cold. To reduce the rate of deterioration, drink coolers are used. Heat pumps and a thermally insulated compartment are required for beverage cooler operation. Heat pumps lower the interior temperature below the surrounding air temperature by transferring heat from the interior environment to the exterior environment.

U.S. and Canada Beverage Coolers Market Dynamics

Drivers

• The rise in beverage demand fuels a spike in market expansion

The market for beverage coolers initially grew as people drank more beverages. More people drink at home than in bars and other public places due to the expansion of beverage options and rising consumer concern over their health. There is an increasing demand for beverages with Halal certification because a portion of the population in the area prefers processed food that only contains ethically sourced ingredients, hence with the growing demand for drink the demand for beverage coolers increases.

• Increasing preference for practical and healthy drinking habits

There is a high demand for organic RTD drinks with plant-based protein because consumers in the area prefer drinking healthy beverages with organic certification. Plant-based ready-to-drink beverages, such as yogurt drinks made with oat and soy milk, are popular because they are nutrient-rich. A wider demographic, including people from different generations and lifestyles searching for quick, wholesome food that fits into their daily schedules, has also become aware of the growing appeal of clean-label RTD beverages. Significant brands also recognize the trend and release new products in clean-label and organic categories. The rising prevalence of lifestyle diseases among young consumers, such as diabetes, obesity, and cardiovascular disease, is another factor anticipated to increase demand for plant-based and low-calorie ready-to-drink beverages.  Additionally, drinks that have yogurt or are ready to drink can’t be kept out for long, especially in summer, as it can taste nasty. Thus, the demand for beverage coolers increases

Opportunities

• The market expands with the increase in demand for ready-to-drink beverages

Ready-to-drink beverages are gaining popularity in the region due to their accessibility, affordability, and convenience. In terms of sales, this enhances the performance of ready-to-drink beverages. The food and beverage industry has increasingly emphasized the trend of healthy drinking. Ready-to-drink energy drinks with less sugar and all-natural ingredients are expected to become more well-liked and continue to draw in customers concerned with their physical well-being. Important regional companies also experiment with product lines to meet consumers' changing flavor and taste preferences. For instance, in 2021, Pepsico launched its Rockstar RTD energy drink in the UAE. It has a formula with vitamin B, ginseng, and taurine thus, and it helps create market growth in the beverage cooler market.

• The market for sea freezers and beverage coolers is expected to expand due to the tourism industry's anticipated rapid growth

The tourism industry has expanded quickly in SEA. As a result, shopping has become more enjoyable. Modern retail segments, such as supermarkets, discount retailers, cash and carries, duty-free shops, e-commerce, warehouse clubs, and bakeries, are replacing traditional retail segments such as grocery stores, small independent shops, wet markets, and food stalls. The demand for beverage coolers and the number of tourists visiting the area have increased.

Restraints/Challenges

• International regulations is expected to act as a restraint

Several international protocols mandate that producers of commercial refrigeration systems adhere to the standards set forth by HCFC. The Environmental Protocol Agency has implemented the Clean Air Act to phase out class-I chlorofluorocarbons gradually. Local and regional manufacturers throughout the SFA may find it challenging to launch their businesses at an early stage as a result of the implementation of these regulations due to the high cost of technology design, development, and manufacture. Therefore, these elements are anticipated to restrain the market's expansion for SEA beverage coolers.

• High switching costs will likely hamper the market

Many producers of beverage coolers and freezers encourage the use of energy-efficient products to lower carbon emissions and the adverse environmental effects of electricity. However, upgrading to newer, more energy-efficient commercial refrigeration equipment accounts for a sizeable portion of the switching cost. As a result, these factors restrict the market.

This U.S. and Canada 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 U.S. and Canada 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.

Recent Developments

• In 2022, In order to increase sales of its ready-to-drink products in the Middle East, Asia, and Europe regions, Arla Foods announced a 43 million USD investment.
• In 2022, In the United Arab Emirates, Emirates Food Industries' subsidiary National Dairy introduced the Hayatna line of dairy products for ready consumption. Some of the products available include long-life milk, fresh milk, fresh flavored milk, fresh laban, and fresh yogurt.
• In 2021: The Coca-Cola Company announced that Honest Tea, a company division, has expanded its line of bottled beverages by introducing Honest Yebra Mate RTD tea in the Saudi Arabian market.

U.S. and Canada Beverage Coolers Market Scope

The U.S. and Canada beverage coolers market is segmented on the basis of product type, type, category, temperature zone, shelving type, size, cooler height, No. of shelves, Shelves material, control, finish, door swing, control type, application, distribution channel, 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

Type

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

Category

• Indoor
• Outdoor

Temperature Zones

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

Shelving type

• Adjustable
• Non-adjustable

Size

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

Cooler Height

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

Shelves Material

• Metal
• Tempered Glass
• Wood
• Others

Control

• Digital Control
• Electric Control
• Touch and Turn Knob

Finish

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

Door Swing

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

Control Type

• Digital
• Electronic
• Touch
• Turn Knob

Distribution Channel

• Online
• E-Commerce
• Company Owned Websites
• Offline
• Specialty Stores
• Supermarkets/Hypermarkets
• Independent Retailers
• Retail Stores

Application

• Alcoholic
• Non-Alcoholic

End-User

• Residential
• Commercial
• PBCL
• Pubs
• BARS
• Clubs
• Lounges
• Hotels and Restaurants
• Café
• Entertainment industry
• Movie Theatres
• Corporate Offices
• Bookstores
• Others

Competitive Landscape and U.S. and Canada Beverage Coolers Market Share Analysis

The U.S. and Canada 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 U.S. and Canada beverage coolers market are:

• Electrolux (Sweden)
•  VIKING RANGE, LLC (U.S.)
• Haier lnc. (China)
• Perlick Corporation (U.S.)
• Danby (Canada)
• Climadiff (France)
• FRIGOGLASS S.A.I.C. (Greece)
• Liebherr-International Deutschland GmbH (Switzerland)
• MVP Appliances (U.S.)
• Miele Appliances Ltd.(Germany)
• Shenzhen SICAO Electric Appliances Co., Ltd (China)
• LG Electronics (South Korea)
• Siemens (Germany)
• DATRON HANDELSGES M.B.H. (Austria)
• NewAir (U.S.)
• Vestfrost Solutions (Denmark)
• AvantiProducts (U.S.)
• U-Line (U.S.)
• WHYNTER LLC (U.S.)
• Vinotemp (US)
• Summit Appliance(U.S.)
• Felix Storch, Inc (U.S.)

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