Dublin, Dec. 29, 2021 (GLOBE NEWSWIRE) -- The "Global Retail Coolers Market Size, Share & Trends Analysis Report by Capacity (Below 10 Quarts, Between 11 To 25 quarts, Between 26 to 50 Quarts, Above 50 Quarts), Distribution Channel (Online, Offline), Region, and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global retail coolers market size was valued at USD 2.3 billion by 2028, according to the report. The market is expected to expand at a CAGR of 7.2% from 2021 to 2028.
The growing popularity of outdoor recreational activities such as off-roading and hiking among travelers is a leading factor driving the market.
Rising demand for packaged food and beverages, along with the rapid expansion of the hospitality sector, has led to substantial market growth. The ongoing expansion of consumer goods retail chains across the globe is also likely to drive the market further. A cooler or an icebox presents a great advantage all year round.
In addition, better technologies used for manufacturing lightweight chillers that can retain ice for a longer duration will contribute to market growth over the coming years. It offers the comfort of storage space, particularly while traveling for picnics, long drives, fishing trips, camping, and boating, among many others.
In terms of value, coolers with a capacity of above 50 quarts segment dominated the market, which is expected to account for the largest market share over the forecast period. These large-capacity retail coolers are perfect for long road trips, days spent at campsites, and for sporting events. Additionally, the product is often equipped with heavy-duty wheels to roll the cooler through tough terrain with the rigged wheels while it's fully loaded.
North America held the largest share in the year 2020, on account of the inclination of people in America towards outdoor recreational activities, short trips, and picnics. According to the prevailing trends, consumers in the U.S. and Canada prefer to travel short distances with hassle-free planning and retail coolers are a convenient option for them.
The COVID-19 outbreak has adversely impacted the demand for retail coolers quite significantly across the globe, especially from the hospitality sector. The closure of non-essential businesses has been one of the major changes to have taken place over the past few months, with the food-service industry being adversely affected.
Retail Coolers Market Report Highlights
- The below 10 quarts segment is projected to witness a CAGR of 8.2% over the forecast period
- In terms of distribution channels, the offline segment accounted for the largest revenue share of 83.6% in 2020. However, the online segment is projected to witness the fastest CAGR of 8.2% over the forecast period
- The above 50 quarts segment held the largest revenue share of 54.3% in the year 2020. These retail coolers possess higher ice retention capacity, i.e., up to five days, and can have a capacity of 70 quarts. These large-capacity retail coolers are perfect for long road trips, days spent at campsites, and for sporting events
- North America held the largest revenue share of 38.0% in 2020. The high inclination of people in America towards outdoor recreational activities, short trips, and picnics is fueling the demand for retail coolers in the market
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Global Retail Cooler Market Variables, Trends & Scope
3.1. Market Introduction
3.2. Penetration & Growth Prospect Mapping
3.3. Impact of COVID-19 on Global Retail Cooler Market
3.4. Industry Value Chain Analysis
3.4.1. Sales/Retail Channel Analysis
3.4.2. Profit Margin Analysis
3.5. Market Dynamics
3.5.1. Market Driver Analysis
3.5.2. Market Restraint Analysis
3.5.3. Industry Challenges
3.5.4. Industry Opportunities
3.6. Business Environment Analysis
3.7. Roadmap of Global Retail Coolers Market
3.8. Market Entry Strategies
Chapter 4. Consumer Behavior Analysis
4.1. Consumer Trends and Preferences
4.2. Factors Affecting Buying Decision
4.3. Consumer Product Adoption
4.4. Observations & Recommendations
Chapter 5. Global Retail Coolers Market: Capacity Estimates & Trend Analysis
5.1. Capacity Movement Analysis & Market Share, 2020 & 2028
5.2. Below 10 quarts
5.2.1. Market estimates and forecast, 2016 - 2028 (USD Million)
5.3. Between 11 to 25 quarts
5.3.1. Market estimates and forecast, 2016 - 2028 (USD Million)
5.4. Between 26 to 50 quarts
5.4.1. Market estimates and forecast, 2016 - 2028 (USD Million)
5.5. Above 50 quarts
5.5.1. Market estimates and forecast, 2016 - 2028 (USD Million)
Chapter 6. Global Retail Coolers Market: Distribution Channel Estimates & Trend Analysis
6.1. Distribution Channel Movement Analysis & Market Share, 2020 & 2028
6.2. Online
6.2.1. Market estimates and forecast, 2016 - 2028 (USD Million)
6.3. Offline
6.3.1. Market estimates and forecast, 2016 - 2028 (USD Million)
Chapter 7. Global Retail Cooler Market: Regional Estimates & Trend Analysis
Chapter 8. Competitive Analysis
8.1. Key Global Players, Recent Developments & Their Impact on The Industry
8.2. Key Company/Competition Categorization (Key innovators, Market leaders, Emerging players)
8.3. Vendor Landscape
8.3.1. Key Company Market Share Analysis, 2020
Chapter 9. Company Profiles
9.1. Polar Bear Coolers
9.1.1. Company Overview
9.1.2. Financial Performance
9.1.3. Product Benchmarking
9.1.4. Strategic Initiatives
9.2. Lifoam Industries LLC
9.2.1. Company Overview
9.2.2. Financial Performance
9.2.3. Product Benchmarking
9.2.4. Strategic Initiatives
9.3. ORCA Coolers, LLC
9.3.1. Company Overview
9.3.2. Financial Performance
9.3.3. Product Benchmarking
9.3.4. Strategic Initiatives
9.4. Plastilite Corporation
9.4.1. Company Overview
9.4.2. Financial Performance
9.4.3. Product Benchmarking
9.4.4. Strategic Initiatives
9.5. ICEE Containers Pty Ltd.
9.5.1. Company Overview
9.5.2. Financial Performance
9.5.3. Product Benchmarking
9.5.4. Strategic Initiatives
9.6. Bison Coolers
9.6.1. Company Overview
9.6.2. Financial Performance
9.6.3. Product Benchmarking
9.6.4. Strategic Initiatives
9.7. Grizzly Coolers LLC
9.7.1. Company Overview
9.7.2. Financial Performance
9.7.3. Product Benchmarking
9.7.4. Strategic Initiatives
9.8. Huntington Solutions
9.8.1. Company Overview
9.8.2. Financial Performance
9.8.3. Product Benchmarking
9.8.4. Strategic Initiatives
9.9. The Coleman Company, Inc.
9.9.1. Company Overview
9.9.2. Financial Performance
9.9.3. Product Benchmarking
9.9.4. Strategic Initiatives
9.10. YETI Holdings, Inc.
9.10.1. Company Overview
9.10.2. Financial Performance
9.10.3. Product Benchmarking
9.10.4. Strategic Initiatives
For more information about this report visit https://www.researchandmarkets.com/r/t2md4c
