Beverage Cooler Market: Introduction
- A beverage cooler, also known as a beverage refrigerator or beverage center, is a refrigerator that is smaller than a standard refrigerator. The device consumes less energy due to its compact size, which saves money on the electricity bill. A beverage cooler is generally made to hold cans and bottles.
- Beverage coolers are stylish, with stainless steel accents and a glass door for displaying drinks. Most beverage coolers, unlike ordinary refrigerators, include adjustable chrome metal shelves or glass shelves with holes for better cold air circulation. The beverage cooler market is expected to witness significant growth during the forecast period.
Key Drivers and Opportunities of the Global Beverage Cooler Market
- Changing customer preferences, access to a wide choice of tastes, and growing consumer disposable income are just a few of the factors predicted to boost the worldwide demand for beverage coolers. Youngsters, for example, like beer and other forms of alcohol, which is projected to boost the market. In addition, rising demand for carbonated beverages among youngsters is expected to contribute considerably to market growth throughout the forecast period.
- Manufacturers now have the chance to engage in R&D to improve the technical and economic aspects of beverage coolers, such as energy efficiency, technological advancements, and performance optimization. During the forecast period, advances in beverage coolers are likely to lead to an increase in their demand. Furthermore, manufacturers must focus on emerging nations, as it is predicted that developing countries would account for considerable demand for beverage coolers throughout the forecast period.
- However, beverage coolers are rather expensive, and this is expected to hinder the market during the forecast period.
North America to Hold Major Share of the Global Beverage Cooler Market
- In terms of region, the beverage cooler market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- During the forecast period, North America is anticipated to have the largest share of the global beverage cooler market. The region has seen an increase in consumption of alcoholic drinks by consumers over a period of time. In addition, teenagers in the region consume both alcoholic and non-alcoholic beverages at festivals and celebrations. These factors are expected to be responsible for the region's high demand for beverage coolers throughout the forecast period.
Key Players Operating in the Global Beverage Cooler Market
- Danby Products Inc.
- Electrolux AB
- Haier lnc.
- LG Electronics, Inc.
- Liebherr-Hausgeräte GmbH
- Miele, Inc.
- Perlick Corporation
- Siemens AG
- Viking Range, LLC
- Whynter LLC
Global Beverage Cooler Market: Research Scope
Global Beverage Cooler Market, by Product Type
- Free-standing Beverage Coolers
- Built-in Beverage Coolers
Global Beverage Cooler Market, by Category
- Indoor Beverage Coolers
- Outdoor Beverage Coolers
Global Beverage Cooler Market, by Capacity
- Less than 150 L
- 150 L to 300 L
- 300 L to 350 L
- Above 350 L
Global Beverage Cooler Market, by Shelving
- Adjustable Shelving Beverage Coolers
- Non-adjustable Shelving Beverage Coolers
Global Beverage Cooler Market, by Temperature Zone
- Single Zone
- Dual Zone
- Triple Zone
- Multi Zone
Global Beverage Cooler Market, by Control
- Digital Control
- Electric Control
- Touch and Turn Knob
Global Beverage Cooler Market, by Door Opening
- Right Swing
- Left Swing
- French Door
Global Beverage Cooler Market, by Application
Global Beverage Cooler Market, by End-Users
- Hotels and Restaurants
- Movie Theatres
- Others (Bars, etc.)
Global Beverage Cooler Market, by Price
Global Beverage Cooler Market, by Distribution Channel
- E-commerce Websites
- Company Owned Websites
- Hypermarkets and Supermarkets
- Specialty Stores
- Independent Retailers
- Retail Stores
Global Beverage Cooler Market, by Region
- North America
- Rest of North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.