The Asia Pacific Retail Coolers Market would witness market growth of 8.6% CAGR during the forecast period (2021-2027).
A ride-on cooler is a type of vehicle that can store and refrigerate beverages and other food items. It's made up of a low-powered engine and a go-cart frame with the cooler serving as a seat in the vehicle. The ride-on cooler can transport food and drinks over short distances and is ideal for usage in a small backyard, a neighborhood, or at large outdoor gatherings. A trailer hitch can be added to the ride-on cooler, allowing it to carry an additional cooler as a carriage.
In addition, retail coolers have a wide spectrum of power. Electric motors range in power from 250 watts (0.3 horsepower) to 2,000 watts (2.7 horsepower) and are powered by 12- to 60-volt batteries. Gas-powered engines typically have a displacement range of 33 to 205 cubic centimeters (2.0 to 12.5 cu in) with a top speed of 13 miles per hour (21 km/h), however, market players are determined toward creating more enhanced variants.
Retail coolers are also being broadly utilized in grocery stores across this region in order to preserve fruits and vegetables. In addition, according to The National Center for Biotechnology Information, the production of fruits and vegetables accounts for approximately 209.72 million tons annually. Moreover, fruits and vegetables contaminate if left at normal temperature. To prevent contamination of them, the utilization of retail coolers with a capacity of above 50 quarts is rapidly rising. Moreover, the retail coolers are also being widely employed in small-scaled liquor stores to store alcohol in cold temperatures.
Moreover, India comprises a significant retail industry. According to the Maharashtra Industry Trade and Investment Cell, in 2016, the retail industry of this country contributed 15% of the entire GDP of the country.
The China market dominated the Asia Pacific Retail Coolers Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $165.3 million by 2027. The Japan market is exhibiting a CAGR of 7.9% during (2021 - 2027). Additionally, The India market would display CAGR of 9.3% during (2021 - 2027).
Based on Distribution Channel, the market is segmented into Offline and Online. Based on Capacity, the market is segmented into Above 50 quarts, Between 26 to 50 quarts, Between 11 to 25 quarts, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Retail Coolers Market is Projected to reach USD 1.9 Billion by 2027, at a CAGR of 6.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Polar Bear Coolers, ORCA (Outdoor Recreation Company of America), LLC, Plastilite Corporation, Bison Coolers, Grizzly Coolers, LLC, Huntington Solutions, LLC, ICEE Containers Pty Ltd., Yeti holdings, Inc., and Newell Brands, Inc.
By Distribution Channel
By Capacity
By Country
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