Retail Cooler Market Size, Share, Growth Analysis, By Capacity(Below 10 Quarts, Between 11 to 25 Quarts), By Distribution Channel(Online and Offline) - Industry Forecast 2024-2031

Retail Cooler Market size was valued at USD 1.50 billion in 2021 and is poised to grow from USD 1.53 billion in 2022 to 3.15 billion by 2030, growing at a CAGR of 8.6% in the forecast period (2023-2030).

The retail cooler market is highly competitive and fragmented, with several established players operating in the market. These companies focus on product innovation and strategic partnerships to gain a competitive edge and expand their market presence. Companies in the retail cooler market adopt product innovation as a key strategy to gain an advantage over their competitors. An example, Lifoam Industries LLC introduced a new temperature-controlled EnviroCooler packaging product in March 2020. The new EnviroCooler EVG was created as part of the company's aim to reduce plastic waste without sacrificing performance or end-user comfort. 'Polar Bear Coolers', 'Lifoam Industries LLC', 'ORCA Coolers, LLC', 'Plastilite Corporation', 'ICEE Containers Pty Ltd.', 'Bison Coolers', 'Grizzly Coolers LLC', 'Huntington Solutions', 'The Coleman Company, Inc.', 'YETI Holdings, Inc.'

Expansion of organized retail sector: The expansion of organized retail sector across the world has led to an increase in the number of supermarkets, hypermarkets, and convenience stores. These stores require retail coolers to store and display products, which has led to the growth of the market.

Smart coolers equipped with advanced features such as remote monitoring, temperature control, and data analytics are becoming increasingly popular among retailers. These smart coolers can provide real-time information on stock levels, temperature, and energy consumption, allowing retailers to optimize their operations and reduce costs. Further, retailers are demanding customized retail coolers that meet their specific requirements and fit their store design and layout. Manufacturers are offering customized solutions that can cater to the unique needs of retailers.

Based on region, the retail cooler market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. In 2021, North America dominated the market with a significant revenue share. This is due to Americans' strong preference for outdoor leisure activities, short vacations, and picnics, which is boosting demand for retail coolers in the region. Furthermore, consumers in the United States and Canada want to travel short distances with minimal planning, and retail coolers are an ideal solution for them.