Global “Beverage cooler Market” report offers an overview of the market size, share, trends, drivers, and barriers with respect to the Beverage cooler Industry. Latest report on the global Beverage cooler market is a compilation of key market insights and discusses key market dynamics such as drivers, restraints, and opportunities at length. It also provides a comprehensive overview of the market of different regions across North America, Europe, Asia Pacific, South America, Africa and Others.
The Beverage cooler Market report discusses the primary industry growth drivers and challenges that the vendors and the market as a whole face and provides an overview of the key trends emerging in the market. It also talks about the market size of different segments and their growth aspects along with key leading countries in Americas, Asia-Pacific, Europe, the Middle East, and Africa regions.
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Significant Features that are under Offering and Key Highlights of the Reports:
• Detailed overview of Beverage cooler Market
• Changing market dynamics of the Beverage cooler industry
• In-depth market segmentation by Type, Application etc
• Historical, current and projected market size in terms of volume and value
• Recent Beverage cooler Beverage cooler industry trends and developments
• Competitive landscape of Beverage cooler Market
• Strategies of key players and product offerings
Beverage Cooler Market Growth & Trends
The global beverage cooler market size is expected to reach USD 8.6 billion by 2028, registering a CAGR of 5.0% over the forecast period, according to a new report by Grand View Research, Inc. Increasing demand for chilled drinks such as wine, beers, and health drinks, owing to the increasing disposable income of the people in countries such as India, China, and South Africa is driving the market. The adoption rate of such coolers is increasing among the major economies, including China, India, and Germany.
The up-to 500L segment occupied a dominant market share of 49.5% in 2020 and is projected to witness the highest CAGR over the forecast period. Rising popularity of alcoholic and nonalcoholic beverages in countries of Europe and Asia Pacific, especially among millennials, is projected to further fuel the demand for the segment for residential application in the next few years.
In Asia Pacific, the market held a revenue share of 32.8% in 2020. Asia Pacific is home to over 4.0 billion people, making it one of the largest markets across the world. Increasing young population coupled with increasing disposable income in countries such as China and India is projected to drive the demand for chilled drinks thus driving the market for beverage coolers in the region. Furthermore, post COVID-19 pandemic, the region is anticipated to witness rising employment, inflating disposable incomes, and enhancing standards of living. These factors will result in high consumption of beverages in the region, creating a large opportunity for water dispenser manufacturers. Hence, the market is expected to experience rapid growth in Asia Pacific.
Leading manufactures of beverage coolers such as Haier Inc., The Middle by Corporation; and Whirlpool are investing in R&D activities in order to enhance the technical and economic aspects of beverage coolers such as energy efficiency and technological advances, and performance optimization. Vendors are adopting various organic and inorganic strategies such as joint ventures, new product offerings, mergers and acquisitions, and collaborations, to enhance their foothold in the industry.
Some of the companies for Beverage Cooler market are:
• Whirlpool.
• Haier Inc.
• AB Electrolux
• Avallon
• Danby
• The Middleby Corporation
• LG Electronics
• Perlick Corporation
• Shenzhen VRBON Electrical Appliance Co.
• Allavino
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