According to a new report published by Allied Market Research, titled, “Water Cooler Market by Product Type, by Application and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021–2027,” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape.
The global water cooler market size was valued at $836.5 million in 2019, and is projected to reach $992.4 million by 2027, registering a CAGR of 3.8% from 2021 to 2027.
The business expansion and rapid widespread of water cooler stores in local and regional market is fuelling the market growth. Furthermore, these offline stores play a significant role to maintaining the foothold of the brand in market. These offline stores include distribution channels such as direct distribution, supermarket/hypermarket and specialty stores. Moreover, the water cooler industry is expanding their product line by introducing novel design, advanced technologies and new features. This modification in technology, design and features include touch-less operating, RO, UV and portability. These advancements are adding value to the water cooler model, which attracts more customer.
Improvement in the retail structure and rise in the number of public and private institutes drive the growth of the global water cooler market. However, high costs of water coolers hinder the market growth. On the other hand, advent of technology creates new opportunities in the coming years.
The report offers a detailed segmentation of the global water cooler market based on product type, application, distribution channel, and region. Based on product type, the market is categorized into bottled water cooler, bottle-less water cooler, and top-load water cooler. The bottleless water cooler segment contributed to the largest share in 2019, accounting for more than half of the total share, and is estimated to maintain its dominant position during the forecast period. In addition, the segment is expected to register the highest CAGR of 4.6% from 2021 to 2027.
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Based on application, the market is bifurcated into residential and commercial. The commercial segment accounted for the largest share in 2019, holding nearly three-fourths of the total share, and is expected to maintain the largest share throughout the forecast period. However, the residential segment is estimated to portray the highest CAGR of 5.7% during the forecast period.
Region-wise, North America has gained considerable traction in this market and is expected to grow at the highest CAGR of $3.1% during the forecast period. This growth attributes to the presence of numerous water cooler brands in this region. The presence of numerous brands leads to the competition of brands on a large scale. Through this competitive environment, the customer enjoys the products with latest features at a reasonable price.
Leading market players analyzed in the research include Farberware Cookware, Kenmore, Oasis International, Primo Water Corporation, AB Electrolux, Avalon Water Coolers, Blue Star Limited, Brio Water Technology, Clover Co., Ltd., and Voltas Ltd.
Covid-19 scenario:
• During the initial phase of the coronavirus pandemic, the manufacturing units were completely suspended. In addition, the disrupted supply chain further impacted the market. The market witnessed declined demand for water coolers.
• As the government bodies are easing off the regulations, the industry has restarted its processing. And the market is expected to get a boost post-pandemic.
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