Segments - Grocery & Beverage Cooler Market By Type (Grocery Coolers and Beverage Coolers), By Capacity (Less than 200L, 200-500L, 500-1000L, and More Than 1000L) By Modality (Freestanding, Built-in and Undercounter, Countertop, and Others) By Application (Supermarkets, Convenience stores, and Others), and by Region (North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023 – 2031
The global grocery & beverage cooler market was estimated at USD 6,843.8 Million in 2022 and is anticipated to reach USD 10,894.2 Million by 2031, expanding at a CAGR of 5.6% during the forecast period.
Grocery and beverage coolers are used for meat, dairy products, vegetables, bottled juice, and coffee. The temperature of these coolers does not destroy bacteria or pathogenic organisms. However, the temperature slows down microorganism growth and maintains the quality of food. Grocery and beverage coolers facilitate the showcase of various food and drink items in such a way that these attract consumers to buy the food and beverage items.
Increases in income along with demographic changes related to family size, population aging, urbanization, and consumer trends such as concerns for healthy eating and sustainable production lead to a shift in demand and food supply. Therefore, disposable income has a positive impact on the grocery and beverage cooler market.
The size and growth of the population have a significant impact on a market. The rising population is boosting the demand for food and beverages. This necessitates proper storage and smart inventory solutions for maintaining a continuous food supply. Urbanization allows consumers to rely on supermarkets and grocery stores that meet their requirements in one place.
Demand for perishable food and beverages is rising, due to the growing population. Dairy products, fruits & vegetables, and meat products are basic necessities. The surge in the demand for non-seasonal eatables is driving the demand for grocery and beverage coolers. Increasing awareness among consumers about the health benefits of fruits and vegetables is fueling the demand for fresh and frozen produce in the market.
Governments have imposed stringent regulatory guidelines on store owners for the safety of consumers. The main reason is to avoid food poisoning cases. Food poisoning is frequently caused by bacteria from foods that have been incorrectly prepared, stored, handled, or cooked. Bacteria present in food that is improperly stored multiply to dangerous levels. According to WHO, a projected 600 million, almost 1 in 10 people in the worldwide, fall ill after intake contaminated food, and 4,20,000 die every year, resulting in the loss of 33 million healthy life every year.
Grocery and beverage coolers allow supermarkets and grocery store owners to store juice boxes and perishable food for a long time by providing appropriate temperature conditions where the bacterial activity is slow. However, the initial cost of installations for grocery and beverage coolers is high, which affects the market growth in a negative manner. Installation of grocery and beverage coolers incurs significant costs.
Supermarkets are one of the major consumers of grocery and beverage coolers, as they cater to a wide range of customer requirements. Selling perishable food and drinks is extremely difficult without proper refrigeration. The rising population contributes to the increased need for food and beverages. Additionally, catering to different consumer preferences pushes store owners to own an inventory of a single product with multiple flavors.
The report on the Global Grocery & Beverage Cooler Market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
Attributes |
Details |
Report Title |
Grocery & Beverage Cooler Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2022 |
Historic Data |
2016 and 2022 |
Forecast Period |
2023–2031 |
Segmentation |
By Type (Grocery Coolers and Beverage Coolers), By Capacity (Less than 200L, 200-500L, 500-1000L, and More Than 1000L), By Modality (Freestanding, Built-in and Undercounter, Countertop, and Others), By Application (Supermarkets, Convenience stores, and Others) |
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and the Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered |
LG Electronics; Liebherr Group; Haier Inc; Carrier; Hussmann Corporation; The Middleby Corporation; AHT Cooling Systems GmbH; Miele & Cie. KG.; Ugur Cooling; Electrolux; Perlick Corporation; and others. |
Based on type, the grocery & beverage cooler market is bifurcated into grocery coolers and beverage coolers. The beverage coolers segment is projected to expand with a significant CAGR during the forecast period, as these coolers are one of the popular choices for the storage of various beverages in designated cabinets. Juice boxes and carbonated beverages are stored in these coolers to maintain the quality and to avoid rancidity in such drinks.
Based on capacity, the grocery & beverage cooler market is divided into less than 200L, 200-500L, 500-1000L, and more than 1000L. The grocery and beverage coolers with a capacity of 500-1000L segment are expected to hold a major market share in 2022, as supermarkets are extremely popular for grocery shopping among customers. Supermarkets prefer high capacities of grocery and beverage coolers to cater to a large portion of the population.
Based on modality, the grocery & beverage cooler market is divided into freestanding, built-in & under-counter, countertop, and others. The freestanding grocery and beverage coolers are individual and separate units. These coolers can stand alone or on top of a countertop. These freestanding coolers make a helpful addition to a game room, home bar, or such small spaces, as it stores drinks for easy access.
Based on application, the grocery & beverage cooler market is segregated into supermarkets, convenience stores, and others. The supermarket segment holds a major share of the global grocery & beverage cooler market, as supermarkets offer cheap prices and all the necessary products in one place, increasing foot traffic. Supermarkets use these coolers to maintain their storage and cater to the requirements of customers.
The market is divided into five regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America is expected to hold a significant share of the market during the forecast period, owing to the rising demand for Grocery & Beverage Cooler products to store perishable goods.
The market in Europe is projected to expand at a CAGR during the forecast period, owing to the development of high-quality Grocery & Beverage Cooler products that meet stringent safety standards in the region.
The market in Asia Pacific is anticipated to expand at a CAGR during the forecast period owing to the rising population of this region is adapting these coolers to maintain the quality of perishable goods.
In-depth Analysis of the Global Grocery & Beverage Cooler Market
Historical, Current, and Projected Market Size in terms of Value
Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
Industry Drivers, Restraints, and Opportunities Covered in the Study
Recent Industry Trends and Developments
Competitive Landscape & Strategies of Key Players
Neutral Perspective on Global Grocery & Beverage Cooler Market Performance
Key players in the grocery & beverage cooler market include LG Electronics, Liebherr Group, Haier Inc, Carrier, Hussmann Corporation, The Middleby Corporation, AHT Cooling Systems GmbH, Miele & Cie. KG., Ugur Cooling, Electrolux, Perlick Corporation.
Market players are pursuing key strategies such as acquisitions, collaborations, and geographic expansion, which is creating opportunities in the Grocery & Beverage Cooler market.
Additional company profiles are provided on request. For a discussion related to the above findings, click Speak to Analyst
Factors such as competitive strength and market positioning are key areas considered while selecting companies to be profiled.
Increasing demand for perishable food and beverages and stringent food safety regulations are driving the grocery & beverage cooler market.
According to this Growth Market Reports report, the grocery & beverage cooler market is anticipated to register a CAGR of 5.6% during the forecast period, 2023-2031, with an anticipated valuation of USD 10,894.2 Million by the end of 2031.
Supermarkets, convenience stores and others are the major applications of grocery & beverage coolers.
Factors such as rising economy & disposable income and population growth & urbanization are expected to act as macroeconomic factors for the market.
Major manufacturers include LG Electronics, Liebherr Group, Haier Inc, Carrier, Hussmann Corporation, The Middleby Corporation, AHT Cooling Systems GmbH, Miele & Cie. KG., Ugur Cooling, Electrolux, Perlick Corporation
Demand and supply of Grocery & Beverage Coolers were negatively affected during the pandemic, due to the reduction in production units of the coolers.
In addition to market size (in US$ Million), the company market share (in % for the base year 2022), the impact of key regulations, Current & Future Trends, and Technology Advancement Overview.
The base year considered for the Global Grocery & Beverage Cooler Market report is 2022. The complete analysis period is 2016 to 2031, wherein, 2016 and 2022 are the historic years, and the forecast is provided from 2023 to 2031.