Global Retail Cooler Market Size, Share, Growth Analysis, By Capacity(Below 10 Quarts, Between 11 to 25 Quarts), By Distribution Channel(Online and Offline) - Industry Forecast 2024-2031

Global Retail Cooler Market size was valued at USD 1.63 billion in 2022 and is poised to grow from USD 1.77 billion in 2023 to USD 3.42 billion by 2031, growing at a CAGR of 8.6% during the forecast period (2024-2031).

The industry is being pushed by travelers' growing interest in outdoor recreational activities including hiking and off-roading. In the foreseeable future, new manufacturing technologies for lightweight chillers with long-lasting ice will also support market expansion. Regretfully, the COVID-19 pandemic has hindered the growth of the industry. Due to the COVID-19 pandemic, consumers are eager to spend more time outdoors hiking, camping, fishing, boating, and cycling. As a result, there is a growing demand for retail coolers. For instance, the Outdoor Industries Association claims that Americans started engaging in new sports like walking, running, and hiking during the COVID-19 pandemic. Polystyrene coolers are also seen negatively because most of the material's products are discarded in landfills. Because of their bulkiness, products made of polystyrene may occupy a disproportionate amount of space in a landfill. Coolers made of polystyrene completely decompose after 500 years. The International Agency for Research on Cancer and the Department of Health and Human Services believe that polystyrene, which is composed of many units of styrene, is carcinogenic.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Retail Cooler Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global 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.

Drivers of the Global Retail Cooler Market

Growth of the Organized Retail Sector: Supermarkets, hypermarkets, and convenience stores have become more prevalent as a result of the global organized retail sector's expansion. Due to the need for retail coolers in these establishments for product storage and display, the industry has expanded.

Restraints in the Global Retail Cooler Market

Because retail coolers use a lot of electricity, their operation can be expensive for merchants. Retail cooler use may be constrained by high electricity costs in some areas.

Market Trends of the Global Retail Cooler Market

Retailers are starting to favor smart coolers with cutting-edge capabilities like temperature control, data analytics, and remote monitoring. Retailers may streamline their processes and cut expenses by using the real-time data these smart coolers can provide on energy usage, temperature, and stock levels. Retailers are also requesting customized retail coolers that fit their layout and design and satisfy their unique requirements. Manufacturers are providing tailored solutions to meet the specific requirements of retailers.