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    Freezer And Beverage & Wine Coolers Market Report

    Freezer And Beverage & Wine Coolers Market Report
    Report code - SR1540 Delivery - 2 Weeks
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    Freezer and Beverage & Wine Coolers Market Trends, Dynamics & Market Insights
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    Market Insights

    The Freezer and Beverage & Wine Coolers market is projected to grow from USD 1.6 billion in 2020 to USD 2.1 billion by 2026 at a CAGR of around 4.6% during the forecast period.

    Figure: Freezer and Beverage & Wine Coolers Market Size, 2020-2026 (USD Billion)

    Freezer-and-Beverage-&-Wine-Coolers-Market-Forecast

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    What are freezer and beverage & wine coolers?

    Freezer and beverage & wine coolers are used to maintain the attributes and guarantee that the taste of beverages and wines doesn't change over time. Beverage freezers and coolers with ideal temperatures and humidity levels are being manufactured by the market players. Based on product, freezer and beverage & wine coolers can be categorized as ice-cream freezers, chest freezers, upright freezers, beverage coolers, and wine coolers.

    Key Players

    Key players operating in the Freezer and Beverage & Wine Coolers market are-

    • Electrolux AB (Sweden)
    • Concepcion Industrial Corporation (Philippines)
    • Frigoglass (Greece)
    • General Electric Company (US)
    • HOSHIZAKI CORPORATION (Japan)
    • Midea Group (China)
    • GEA RSA (Indonesia)
    • Sanden Intercool Public Co.,LTD. (Thailand)
    • Sharp Corporation (Japan).

    Market Dynamics

    The growth of the freezer and beverage & wine coolers market is primarily driven by the increasing consumption of healthy and nutritious drinks. Rising consumption of packaged beverages due to convenience and longer shelf life of the product is expected to drive the growth of the freezer and beverage & wine coolers at a significant rate during the review period. Additionally, the growing emphasis on the development of advanced freezers and coolers with innovative features is likely to create lucrative opportunities for the market players during the review period.

    Segments' Analysis

    End-Use Trends

    By end-use, the freezer and beverage & wine coolers market have been bifurcated into commercial and residential. The commercial segment has been further sub-segmented into cold storage and warehouses, retail and specialty stores, food & beverage processing, hotels and restaurants, and others. Under these, the commercial segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period.

    Regional Trends

    By region, the market in North America accounted for the largest market share in 2020 and is projected to grow at a significant CAGR during the assessment period. The regional growth is primarily attributed to the high consumption rate of packaged beverages coupled with the presence of key market players such as General Electric Company (US). The market growth in the Asia-Pacific region is expected to be driven by increasing consumption of healthy and nutritious drinks in developing countries particularly China and India coupled with rising per capita disposable income of the consumers.

    COVID-19 Impact on Freezer and Beverage & Wine Coolers Market

    The outbreak of the COVID-19 virus has affected the growth of the food and beverages industry significantly. Stringent lockdown measures and restricted movement of people affected the production and product supply for a short period and thus, affected the market growth.

    Critical Questions Answered in the Report

    • What are the key trends in the Freezer and Beverage & Wine Coolers market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
    • What is the impact of COVID-19 on the Freezer and Beverage & Wine Coolers market?
    • What are the key strategies adopted by the major vendors to lead in the Freezer and Beverage & Wine Coolers market?
    • What is the market share of the top vendors?

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    Target Audience

    Here is the list of the group of customers that the freezer and beverage & wine coolers market hopes to have the greatest opportunity to convert-

    • Freezer and beverage & wine coolers distributors
    • Freezer and beverage & wine coolers suppliers
    • Freezer and beverage & wine coolers manufacturers
    • Logistics organizations
    • Government bodies

    Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    The freezer and beverage & wine coolers market is expected to witness an impressive growth of 4.6% CAGR in the coming years.

    Electrolux AB (Sweden), Concepcion Industrial Corporation (Philippines), Frigoglass (Greece), General Electric Company (US), HOSHIZAKI CORPORATION (Japan), Midea Group (China), GEA RSA (Indonesia), Sanden Intercool Public Co.,LTD. (Thailand) and Sharp Corporation (Japan) are among the key players in the freezer and beverage & wine coolers market.

    The freezer and beverage & wine coolers market size is expected to reach USD 2.1 billion in the foreseeable future.

    The commercial segment is expected to register significant growth in the freezer and beverage & wine coolers market in the coming years.

    North America accounted for the largest share in the freezer and beverage & wine coolers market in 2020.

    Freezer and beverage & wine coolers distributors, Freezer and beverage & wine coolers suppliers, Freezer and beverage & wine coolers manufacturers, Logistics organizations, Government bodies are the target audience in the freezer and beverage & wine coolers market.