Water Cooler Market

Residential water cooler segment is the fastest growing segment of Global Water Cooler Market.

5933 NE WIN SIVERS DRIVE, PORTLAND, OR, UNITED STATES, May 31, 2023/EINPresswire.com/ -- 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 provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends. 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.

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Improvement in the retail structure and rise in the number of public and private institutes drive the growth of the global water cooler market. By application, the commercial segment dominated in 2019. By region, the market across North America held the highest market share in 2019, and is anticipated to lead the trail throughout 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.

the basis of product type, the bottleless water cooler segment was the highest contributor the growth of water cooler companies. Also, it was valued at $453.7 million in 2019 and is projected to reach $573.8 million by 2027, registering a CAGR of 4.6% from 2021 to 2027. The growth attributes to low maintenance and increase in awareness about health and hygiene.

On the basis of application, the commercial segment was estimated to reach $677.6 million by 2027, at a CAGR of 3.0%. This growth attributes to increase in the number of school, offices, restaurants and hospitals. Whereas, the residential water cooler segment is the fastest growing segment application-wise. With the growth is registered with a 5.7% CAGR. The increase in urbanization and increase standard of living contributes to the increase in the demand for water coolers.

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Based on distribution channel, the supermarket/hypermarket segment is estimated to reach $292.3 million by 2027, at a CAGR of 3.2%. As the supermarket/hypermarket provides a large variety of water coolers in the stores. This allows customer to choose right product of good brands.

Based on region, North America contributed the highest share, accounting for around one-third of the total market share in 2019, and will maintain its dominance throughout the forecast period. However, Asia-Pacific is expected to grow at the highest CAGR of 5.1% from 2021 to 2027. The other regions studied in the report include Europe and LAMEA.

The key market players profiled in the report include:

• AB Electrolux
• Avalon Water Coolers
• Blue Star Limited
• Brio Water Technology
• Clover Co. Ltd.
• Farberware Cookware
• Kenmore
• Oasis International
• Primo Water Corporation
• Voltas Ltd.

Key Findings Of The Study

○ The market size was valued at $836.5 million in 2019, and is estimated to reach $992.4 million by 2027, growing at a CAGR of 3.8% during the forecast period.
○ By product type, the bottle less water cooler segment is estimated to witness the fastest growth, registering a CAGR of 4.6% during the forecast period.
○ In 2019, depending on application, the commercial segment was valued at $608.0 million, accounting for CAGR of 3.0% of the global water cooler market share.
○ In 2019, the U.S. was the most prominent market in North America, and is projected to reach $248.5 million by 2027, growing at a CAGR of 2.8% during the forecast period.

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