The global retail coolers market size is expected to reach USD 2.3 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.2% from 2021 to 2028. The growing popularity of outdoor recreational activities such as off-roading and hiking among travelers is a leading factor driving the market.
Key Insights & Findings from the report:
- The below 10 quarts segment is projected to witness a CAGR of 8.2% over the forecast period
- In terms of distribution channels, the offline segment accounted for the largest revenue share of 83.6% in 2020. However, the online segment is projected to witness the fastest CAGR of 8.2% over the forecast period
- The above 50 quarts segment held the largest revenue share of 54.3% in the year 2020. These retail coolers possess higher ice retention capacity, i.e., up to five days, and can have a capacity of 70 quarts. These large-capacity retail coolers are perfect for long road trips, days spent at campsites, and for sporting events
- North America held the largest revenue share of 38.0% in 2020. The high inclination of people in America towards outdoor recreational activities, short trips, and picnics is fueling the demand for retail coolers in the market
Read 83 page market research report, “Retail Coolers Market Size, Share & Trends Analysis Report By Capacity (Below 10 Quarts, Between 11 To 25 quarts, Between 26 to 50 Quarts, Above 50 Quarts), By Distribution Channel (Online, Offline), By Region, And Segment Forecasts, 2021 – 2028“, by Grand View Research
Rising demand for packaged food and beverages, along with the rapid expansion of the hospitality sector, has led to substantial market growth. The ongoing expansion of consumer goods retail chains across the globe is also likely to drive the market further. A cooler or an icebox presents a great advantage all year round.
In addition, better technologies used for manufacturing lightweight chillers that can retain ice for a longer duration will contribute to market growth over the coming years. It offers the comfort of storage space, particularly while traveling for picnics, long drives, fishing trips, camping, and boating, among many others.
In terms of value, coolers with a capacity of above 50 quarts segment dominated the market, which is expected to account for the largest market share over the forecast period. These large-capacity retail coolers are perfect for long road trips, days spent at campsites, and for sporting events. Additionally, the product is often equipped with heavy-duty wheels to roll the cooler through tough terrain with the rigged wheels while it’s fully loaded.
North America held the largest share in the year 2020, on account of the inclination of people in America towards outdoor recreational activities, short trips, and picnics. According to the prevailing trends, consumers in the U.S. and Canada prefer to travel short distances with hassle-free planning and retail coolers are a convenient option for them.
The COVID-19 outbreak has adversely impacted the demand for retail coolers quite significantly across the globe, especially from the hospitality sector. The closure of non-essential businesses has been one of the major changes to have taken place over the past few months, with the food-service industry being adversely affected.
Grand View Research has segmented the global retail coolers market on the basis of capacity, distribution channel, and region:
- Retail Cooler Capacity Outlook (Revenue, USD Million, 2016 – 2028)
- Below 10 quarts
- Between 11 to 25 quarts
- Between 26 to 50 quarts
- Above 50 quarts
- Retail Cooler Distribution Channel Outlook (Revenue, USD Million, 2016 – 2028)
- Online
- Offline
- Retail Cooler Regional Outlook (Revenue, USD Million, 2016 – 2028)
- North America
- U.S.
- Europe
- U.K.
- Germany
- Asia Pacific
- China
- Japan
- Australia
- Central & South America
- Brazil
- Middle East & Africa (MEA)
- North America
List of Key Players of Retail Coolers Market
- 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.
Check out more studies related to coolers and chillers, published by Grand View Research:
- Camping Cooler Market – The global camping cooler market size was valued at USD 621.8 million in 2017 and is expected to register a CAGR of 6.4% from 2018 to 2025. The growing popularity of outdoor recreational activities such as off-roading and hiking among travelers is a leading factor driving the market.
- Modular Chillers Market – The global modular chillers market size was valued at USD 2.39 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 6.7% from 2021 to 2028. The growing demand for energy-efficient buildings on account of the rising awareness regarding environmental degradation coupled with stringent government regulations is anticipated to fuel the market growth over the forecast period.
- Chillers Market – The global chillers market size was estimated at USD 9.9 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 4.3% from 2020 to 2027. Rising temperatures due to global warming are likely to drive the demand for cooling equipment.
Browse through Grand View Research’s coverage of the Global Homecare & Decor Industry.
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