About Beverage Coolers
Over the past few decades, the growing demand for beverage coolers is booming in the market as a freezer for the storage of food and beverages. Beverage coolers are commercial and residential appliances, which are used to store refrigerated or freezing beverages, by maintaining a certain range of cooling temperatures. .Increasing consumption of alcoholic beverages and non-alcoholic beverages is, and Wine is turning out to be one of the most popular drinks, especially among the young generation is one of the key driving factor of growth
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 18.3% |
The beverage cooler market is extremely competitive due to the presence of several established players differentiating their products and launching product innovations coupled with value propositions. Additionally, the players in this are also expanding their distribution channels and production facilities to expand their geographical presence. Analyst at AMA Research estimates that Japan Players will contribute the maximum growth to Global Beverage Coolers market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Danby (Canada), Electrolux (Sweden), Haier (Hong Kong), LG Electronics (South Korea), Whirlpool (United States), Procool (China), EdgeStar (United States), Procool LLC (United States), Siemens (Germany) and Panasonic (Japan) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Beverage Coolers market by Type (Non-Alcoholic Beverage Coolers and Alcoholic Beverage Coolers), Application (Residential and Commercial) and Region.
On the basis of geography, the market of Beverage Coolers has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Installation, the sub-segment i.e. Freestanding will boost the Beverage Coolers market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Temperature Zone, the sub-segment i.e. Single will boost the Beverage Coolers market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Online sales channels
Market Growth Drivers:
Increasing consumption of alcoholic and non alcoholic products such as fruit, drinks is one of the key driving factors of growth and Growing demand for chilled beverages as well as frozen food
Challenges:
High Competition Between the Manufacturers
Restraints:
Fluctuated price of Beverages coolers
Opportunities:
Increasing fitness awareness among the people across the globe and the consumption of non-alcoholic beverages is creating opportunities of growth in the market.
Market Leaders and their expansionary development strategies
In July 2023, Cooler Screens, has announced a partnership with coconut water brand, Vita Coco. Vita Coco has leveraged Cooler Screens’ in-store, contextual advertising capabilities to position itself as an effective “hangover” recovery solution to in-store shoppers, especially those seeking to purchase adult and alcoholic beverages.
In April 2023, Voltas, launched of an extensive range of all-new Voltas FreshAir Coolers. This latest offering of Voltas FreshAir Coolers offers a wide range of features including the unique smart humidity controller for optimizing the humidity
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Beverage Coolers Manufacturer, Raw Material Suppliers, Dealers, Suppliers, Traders, and Distributors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End-Use Industry
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.