USD 1.50 billion
Retail Cooler Market Size, Share, Growth Analysis, By Capacity(Below 10 Quarts, Between 11 to 25 Quarts, Between 26 to 50 Quarts, Above 50 Quarts), By Distribution Channel(Online and Offline), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30K2018 |
Region:
Global |
Published Date: April, 2024
Pages:
198
|Tables:
62
|Figures:
65
Retail Cooler Market Insights
Retail Cooler Market size was valued at USD 1.50 billion in 2021 and is poised to grow from USD 1.53 billion in 2022 to 3.15 billion by 2030, growing at a CAGR of 8.6% in the forecast period (2023-2030).
The market is being driven by an increase in the popularity of outdoor recreational activities such as off-roading and hiking among travellers. Also, new manufacturing technologies for lightweight chillers that can hold ice for an extended period of time will contribute to market growth in the near future. Unfortunately, the COVID-19 epidemic has hampered industry expansion. With the COVID-19 pandemic, customers are ready to spend more time in nature by participating in activities like as hiking, camping, fishing, boating, and cycling, which is increasing market demand for retail coolers. According to the Outdoor Industries Association, for example, during the COVID-19 period, Americans began new activities such as hiking, walking, and running.
Furthermore, polystyrene coolers are viewed unfavorably because the majority of the material's products are discarded in landfills. Polystyrene products can take up a disproportionate amount of volume in a landfill due to their bulkiness. Polystyrene coolers disintegrate fully after about 500 years. Polystyrene is made up of multiple units of styrene, which the Department of Health and Human Services and the International Agency for Research on Cancer think is carcinogenic.
US Retail Cooler Market is poised to grow at sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Between 11 to 25 Quarts
Fastest Growth
Between 11 to 25 Quarts
Growth Rate
8.6% CAGR
Global Retail Coolers Market 2022-2030 ($ Bn)
Country Share for North America Region- 2021 (%)
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Retail Cooler Market Segmental Analysis
Regional differences, distribution channels, and capacity are used to segment the global retail cooler market. The market is divided into four categories based on capacity: below 10 quarts, between 11 and 25 quarts, between 26 and 50 quarts, and above 50 quarts. The market is divided into online and offline segments based on the distribution channel. The North American, European, Asian-Pacific, South American, and Middle Eastern and African regions make up the major regional segments of the worldwide retail cooler market.
Retail Cooler Market Analysis by Capacity
Based on capacity, the market is segmented into below 10 quarts, between 11 to 25 quarts, between 26 to 50 quarts, above 50 quarts. Among these, the above 50 quarts segment dominated the market with a significant market share in 2022. The high retention capacity is ideal for extended road trips, camping days, and sporting events, which is driving demand for the market. Furthermore, advantages such as heavy-duty wheels for rolling the cooler through rugged terrain with the rigged wheels while fully laden are propelling this industry.
From 2022 to 2030, capacity below 10 quarts is expected to grow at the fastest rate, attributing to the rising consumer base of outdoor leisure travelers is driving the use of retail coolers with lower capacities. According to a blog by Northstar Travel Media LLC, solo travel accounted for 18% of global bookings in 2019, representing a 7% increase over the previous year. Furthermore, according to Cox & Kings, solo travel is the second-most popular post-lockdown trip category.
Global Retail Coolers Market By Capacity, 2021 (%)
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Retail Cooler Market Regional Insights
Based on region, the global retail cooler market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. In 2021, North America dominated the market with a significant revenue share. This is due to Americans' strong preference for outdoor leisure activities, short vacations, and picnics, which is boosting demand for retail coolers in the region. Furthermore, consumers in the United States and Canada want to travel short distances with minimal planning, and retail coolers are an ideal solution for them.
Further, during the forecast period, 2022 to 2030, Asia Pacific is predicted to have the fastest growth rate. The Asia Pacific market's expansion might be ascribed to an increase in consumer interest in glamping among Asian households. Furthermore, various camping sites and adventure locations are being created at a rapid pace in most Asian Pacific countries, including Thailand, Hong Kong, Cambodia, Australia, and India, which is expected to support market expansion throughout the projection period.
Global Retail Coolers Market By Geography, 2022-2030
- Largest
- Fastest
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Retail Cooler Market Dynamics
Retail Cooler Market Drivers
- Expansion of organized retail sector: The expansion of organized retail sector across the world has led to an increase in the number of supermarkets, hypermarkets, and convenience stores. These stores require retail coolers to store and display products, which has led to the growth of the market.
- Increasing demand for energy-efficient coolers: There is a growing demand for energy-efficient coolers that consume less electricity and help reduce operational costs for retailers. As a result, manufacturers are developing energy-efficient coolers that meet the energy efficiency standards set by regulatory bodies, which has further boosted the market growth.
- Technological advancements: The retail cooler market is witnessing technological advancements such as the development of smart coolers that can be remotely monitored and controlled. These advancements have increased the efficiency and functionality of retail coolers, which has further driven the market growth.
Retail Cooler Market Restraints
- Energy consumption: Retail coolers consume a significant amount of energy, which can lead to high operational costs for retailers. In some regions, electricity costs can be high, which can limit the adoption of retail coolers.
- Environmental concerns: The use of refrigerants in retail coolers can have a negative impact on the environment. Some refrigerants, such as hydrofluorocarbons (HFCs), are known to be potent greenhouse gases that contribute to climate change. Regulatory bodies are implementing strict regulations to reduce the use of these refrigerants, which can limit the growth of the market.
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Retail Cooler Market Competitive Landscape
The global retail cooler market is highly competitive and fragmented, with several established players operating in the market. These companies focus on product innovation and strategic partnerships to gain a competitive edge and expand their market presence. Companies in the retail cooler market adopt product innovation as a key strategy to gain an advantage over their competitors. An example, Lifoam Industries LLC introduced a new temperature-controlled EnviroCooler packaging product in March 2020. The new EnviroCooler EVG was created as part of the company's aim to reduce plastic waste without sacrificing performance or end-user comfort.
Retail Cooler Market Top Player’s Company Profiles
- Polar Bear Coolers
- Lifoam Industries LLC
- ORCA Coolers, LLC
- Plastilite Corporation
- ICEE Containers Pty Ltd.
- Bison Coolers
- Grizzly Coolers LLC
- Huntington Solutions
- The Coleman Company, Inc.
- YETI Holdings, Inc.
Retail Cooler Market Recent Developments
- In March 2022, Voltas launched AC with HEPA Filter technology. Voltas' PureAir 6 Stage Adjustable Inverter AC comes with a unique value proposition of 'Pure & Flexible Air Conditioning,' powered with HEPA Filter, PM 1.0 Sensor, and AQI Indicator (an industry first), that helps to purify the indoor air, and is also loaded with 6 Stage Adjustable Tonnage Mode, which allows the user to switch between multiple tonnages, depending on the ambient heat or number of people in the room. It delivers pure and clean air, as well as cost savings and optimization.
Retail Cooler Key Market Trends
- Smart coolers equipped with advanced features such as remote monitoring, temperature control, and data analytics are becoming increasingly popular among retailers. These smart coolers can provide real-time information on stock levels, temperature, and energy consumption, allowing retailers to optimize their operations and reduce costs. Further, retailers are demanding customized retail coolers that meet their specific requirements and fit their store design and layout. Manufacturers are offering customized solutions that can cater to the unique needs of retailers.
- Manufacturers are focusing on developing energy-efficient retail coolers that use less energy and reduce operational costs for retailers. This trend is driven by the increasing demand for sustainability and the need to reduce carbon footprints. To address environmental concerns, manufacturers are also introducing refrigerants that have lower global warming potential (GWP) and do not harm the ozone layer. Natural refrigerants such as carbon dioxide, hydrocarbons, and ammonia are gaining popularity in the retail cooler market.
Retail Cooler Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the global retail cooler market is expected to witness significant growth due to several factors such as the increasing demand for chilled and frozen foods, expansion of organized retail sector, and growing awareness about food safety and hygiene. The increasing adoption of energy-efficient coolers, smart coolers, and eco-friendly refrigerants are also expected to drive the market growth. Manufacturers are investing in research and development to introduce new and innovative products that can meet the evolving needs of retailers. Hence, these factors altogether contribute to the growth of the global retail coolers market during the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 1.50 billion |
| Market size value in 2031 | USD 1.53 billion |
| Growth Rate | 8.6% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Retail Cooler Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Retail Cooler Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Retail Cooler Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Retail Cooler Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Retail Cooler Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Retail Cooler Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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