Demand from the Residential Sector Expected to Help the Beverage Cooler Market to Grow During the Forecast Period
Increasing consumption of carbonated drinks and growing consumer
preference for built-in products is driving the global beverage cooler market.
According to TechSci
Research report, “Beverage Cooler Market – Global Industry Size,
Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F” Global beverage cooler market is driven
by the improved quality of life rise in disposable income.. The market is also
driven by rising demand for frozen and chilled food and beverages along with
the change in lifestyle of consumers.
The rise in popularity of eating out at
hotels and other establishments results from the growing number of working
people. Owing to this, there are now rapidly increasing numbers of restaurants
and fast-food outlets worldwide. The need for freezers and other refrigeration
and cooling equipment has significantly expanded due to storing foods and
beverages that require low temperatures.
Some ancillary aspects that are boosting
the freezer & beverage and wine cooler market are the expanding food and
beverage sector, developing food and beverage distribution and processing
facilities, and expanding supermarkets and retail. The demand for beverage coolers
has increased due to several technological improvements that provide benefits
such as efficient energy usage, affordable cooling, better product display, and
simple transportation.
People's growing health consciousness is
driving the demand for healthy beverages in general. People of all ages are
increasingly drinking fruit juice and low-calorie energy beverages. A primary
reason driving the growth of the beverage cooler market is the demand for
appropriate storage of health beverages. Demand for beverage coolers is
increasing owing to the expanding beverage sector and food product
advancements.
Around the world, more and more people
are drinking mixed drinks. Global consumption of ready-to-drink beverages is expected
to rise due to changing lifestyles, the impact of online media and the
Internet, and growing social gatherings. Young individuals with significant
informal community influence, higher family incomes, and other factors have
easier access to mixed drinks. They are likely to drink more alcohol than they
did in the past.
The high price of beverage coolers is
expected to restrain the market's expansion. The adverse effects of the
COVID-19 outbreak on the supply chain will serve as a market restraint and
further impede the market expansion rate. Additionally, technical constraints
and a lack of awareness would restrain the market expansion for beverage
coolers.
Owing to the growing need for
energy-efficient, large-capacity coolers in the beverage sector, the 200-500L
segment dominated the market for beverage coolers. Secondary factors boosting
the development of the 200-500L beverage cooler market include expanding food
and beverage sectors, food and beverage distribution, processing facilities,
and supermarkets and retail.
Beverage cooler demand is increasing,
notably from merchants and grocery shops, because several technological
developments in beverage cooler products offer benefits such as cost-effective
cooling, efficient energy consumption, better product exposure, and
straightforward portability.
Browse over XX market data Figures
spread through XX Pages and an in-depth TOC on the "Beverage Cooler Market"
The Beverage Cooler Market is segmented
based on type (floor standing, built-in/under the counter, and countertop), by
product type (less than 200 liters, 201-500 liters, 501-1000 liters, and more
than 1000 liters), by door (left-side door, right-side door, dual and dual
door, sliding door, and others (reversible door, french door, etc.)), by
end-use (retail, hotels, restaurant, PBCL (pubs, bars, clubs, and lounges),
café, residential, entertainment industry, and others (cafeteria, cloud
kitchens, etc.)), by distribution channel (distributor/dealer sales, direct
sales, hypermarkets/supermarkets, online, and others (specialty stores,
exclusive stores, etc.)).
Vendors are spending a lot of money on
research and development to improve appliances' durability, shape, and
features. Operational effectiveness, technological advancements, and
performance optimization are all products of R&D activities. Vendors of
beer refrigerators are investing in many areas, including technology, downtime,
pull-down time, and shorter lead times, which will increase the product's
efficiency and lifespan. One of the main factors driving the expansion of the
market for beverage coolers is the rise in R&D for beverage coolers.
Key market players in the beverage cooler
market include:
- AB Electrolux
- Viking Range, LLC
- Haier, lnc.
- Perlick Corporation
- Danby Appliances Inc.
- Climadiff S.A.
- LG Corporation
- Miele & Cie. KG
- Liebherr-International Deutschland GmbH
- Siemens AG
The British company Enviro-Cool (UK)
Limited came up with the Rapidcool concept, and it received a USD 908,000 grant
from the European Union to assist it in moving from an idea to a viable
business. The result is a critical innovation that achieves energy productivity
and rapid cooling times.
One of the top manufacturers, RapidCool,
has created a beverage cooler that can cool drink cans and bottles from room
temperature to 4°C in as little as 45 seconds. As a result, the cooler uses
less energy than a traditional beverage cooler by over 80%.
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“The demand for small, effective, and
portable beverage coolers has increased due to the trend of giving convenience
stores, restaurants, and homes an attractive appearance. The beverage cooler
market is expected to grow positively in terms of value over the forecast
period owing to rising demand and the launch of innovative products by
manufacturers.” said Mr. Karan Chechi, Research Director with TechSci Research,
a research-based global management consulting firm.
“Beverage
Cooler Market, By Product ((Laundry Cleaners, Floor Cleaners, General
Cleaners, Toilet Cleaners, Glass Cleaners, Dishwashing & Kitchen Cleaners
and Others (Metal Cleaner, Disinfectants & Sanitizers, etc.)), By End Use (Healthcare, Education, Hotels/Lodging, Offices/Property
Management, and Others (Restaurants, Retail & Grocery, etc.)), By Distribution
Channel (Distributor/Channel Sales, Direct/Institutional Sales, Online Retail,
Cash & Carry Stores and Other Offline Retail Sales) By Region, Competition”, has
evaluated the future growth potential of beverage cooler and provides statistics and information on market structure, size, share,
and future growth. The report is intended to provide cutting-edge market
intelligence and help decision-makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities present in beverage cooler
globally.
Contact
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