Retail Cooler Industry Overview
The global retail cooler market size was valued at USD 1.43 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 8.7% from 2023 to 2030. A rise in the popularity of outdoor recreational activities such as off-roading and hiking among travelers is driving the market. In addition, improved manufacturing technologies for lightweight chillers that can keep ice for an extended period will contribute to market expansion over the foreseeable future. However, the COVID-19 pandemic has impacted the growth of the market. In the wake of the COVID-19 pandemic, customers are willing to spend more time in nature through activities such as hiking, camping, fishing, boating, and cycling, which is boosting the market demand for retail cooler. For instance, according to Outdoor Industry Association, Americans took up new activities such as hiking, walking, and running during the COVID-19 period.
Gather more insights about the market drivers, restrains and growth of the Retail Cooler Market
Moreover, polystyrene coolers are perceived negatively as most products made from the material are dumped in landfills. Polystyrene materials also occupy a disproportionate amount of space by volume in a landfill on account of their bulky nature. Polystyrene coolers take approximately 500 years to decompose completely. Polystyrene is built of multiple units of styrene, which is believed to be carcinogenic by the Department of Health and Human Services and the International Agency for Research on Cancer.
Additionally, the rising number of hypermarkets, specialty food stores, and supermarkets across the globe has significantly boosted the adoption of retail cooler. According to The Food Institute, Costco is expected to open around 22 new warehouses each year, with 75% of them located in the U.S. The retailer also plans to open three new stores in Bradenton, Florida; Bismarck, North Dakota; and Plainfield, Illinois. Similarly, Walmart invested billions in new stores and improvements throughout 2019.
An increasing number of companies are striving for innovation in the sustainable space, particularly when it comes to choosing materials. For instance, NIKU Farms, a Toronto-based meat delivery service, opted for a new biodegradable and compostable packaging material from KTM Industries for its insulated coolers in 2019. NIKU became the first meat delivery service company to use KTM’s Green Cell Foam in Canada for its farm-to-door meat subscription boxes.
Furthermore, companies operating in the market cater to consumers worldwide, particularly in North America and Europe. Increasing innovation by these companies is rapidly transforming the product’s material composition. For instance, in 2019, Yeti launched Yeti V, a stainless-steel cooler that uses a combination of a vacuum and polyurethane foam in order to be able to store ice 50% longer than a regular Yeti cooler.
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Retail Cooler Market Segmentation
Grand View Research has segmented the global retail cooler market based on capacity, distribution channel, and region:
Retail Cooler Capacity Outlook (Revenue, USD Million; 2017 - 2030)
- Below 10 Quarts
- Between 11-25 Quarts
- Between 26-50 Quarts
- Above 50 Quarts
Retail Cooler Distribution Channel Outlook (Revenue, USD Million; 2017 - 2030)
- Offline
- Online
Retail Cooler Regional Outlook (Revenue, USD Million; 2017 - 2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- Australia New Zealand
- South Korea
- Central South America
- Brazil
- Middle East Africa
- Saudi Arabia
Key Companies profiled:
- 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.
Key Retail Cooler Company Insights
The market is characterized by the presence of a few established players and new entrants. Many big players are increasing their focus on the growing trend of retail cooler. Players in the market are diversifying the service offering in order to maintain market share. For instance,
- In June 2023, Digital retail media company Cooler Screens has launched a health-oriented offering called Cooler Health. This strategic move aims to expand its advertising technology presence to pharmacies, healthcare clinics, and other health-related locations. Cooler Screens develops smart screen software that displays on cooler doors in stores, replacing traditional glass doors.
- In May 2023, Kroger, American retail company, announced expanding its partnership with Cooler Screens to install digital smart screens to 500 of its stores across the U.S.
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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