Retail Coolers Market Growth Trajectory Through 2024-2033

The Retail Coolers Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Retail Coolers Global Market Report 2024, The retail coolers market size has grown rapidly in recent years. It will grow from $2.20 billion in 2023 to $2.43 billion in 2024 at a compound annual growth rate (CAGR) of 10.6%. The growth in the historic period can be attributed to rising preference for alcoholic beverages, growing number of hypermarkets, growing popularity of e-commerce, rising use of smartphones, and rising trend of fishing.

The retail coolers market size is expected to see rapid growth in the next few years. It will grow to $3.65 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%. The growth in the forecast period can be attributed to increasing demand for outdoor coolers, increase in outdoor recreational activities, increasing demand for energy-efficient coolers, increase in number of convenience stores, and increasing demand for frozen foods. Major trends in the forecast period include technological advancements, developing new biodegradable compostable packaging material, development of lightweight compact coolers, improving manufacturing technologies, and developing cold-chain packaging technologies.

The rising preference for alcoholic beverages is expected to propel the growth of the retail cooler market going forward. Alcoholic beverages are drinks that contain ethanol, commonly known as alcohol that are typically consumed for their psychoactive effects, which can range from mild relaxation and sociability to intoxication and impaired judgment. The rising combination of cultural acceptance, social traditions, and marketing efforts associate alcohol with relaxation, celebration, and socializing. Retail coolers increase the accessibility and convenience of alcoholic products, making them more readily available to consumers. Retail coolers are essential for maintaining the quality, appeal, and regulatory compliance of alcoholic beverages, ultimately contributing to increased sales and customer satisfaction. For instance, in April 2023, according to Beverage Daily, a UK-based association, the craft beer category was projected to have a retail dollar value of $28.46 billion in 2022, signifying a 6% increase in 2021 and a 24.6% market share. Therefore, the rising preference for alcoholic beverages drives the retail cooler market.

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The retail coolers market covered in this report is segmented –

1) By Capacity: Below 10 Quarts, Between 11-25 Quarts, Between 26-50 Quarts, Above 50 Quarts
2) By Distribution Channel: Offline, Online
3) By Application: Camping And Outdoor Activities, Travel And Commuting, Medical Coolers

Major companies operating in the retail cooler market are focusing on developing in-store video screens to enhance customer engagement, provide dynamic promotional content, and offer a more interactive shopping experience. This technology involves embedding digital displays within cooler doors, transforming traditional refrigeration units into dynamic, interactive advertising platforms that can engage customers directly at the point of sale. For instance, in January 2023, Cooler Screens, a US-based retail technology company, announced an expansion of its in-store video screen offerings. This enhancement allows retailers to display targeted advertisements, promotions, and product information directly on cooler doors, increasing customer engagement and potentially boosting sales. These screens offer features such as real-time content updates and the ability to track customer interactions, providing valuable data for improving marketing strategies.

The retail coolers market report table of contents includes:

1. Executive Summary
2. Retail Coolers Market Characteristics
3. Retail Coolers Market Trends And Strategies
4. Retail Coolers Market – Macro Economic Scenario
5. Global Retail Coolers Market Size and Growth
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32. Global Retail Coolers Market Competitive Benchmarking
33. Global Retail Coolers Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Retail Coolers Market
35. Retail Coolers Market Future Outlook and Potential Analysis
36. Appendix