Beverage Fridge Market Size, Share & Trends Analysis Report By Product (Free-standing, Built-in), By Application (Residential, Commercial), By Distribution Channel, By Region, And Segment Forecasts, 2024 - 2030

Beverage Fridge Market Size, Share & Trends Analysis Report By Product (Free-standing, Built-in), By Application (Residential, Commercial), By Distribution Channel, By Region, And Segment Forecasts, 2024 - 2030

Beverage Fridge Market Size & Trends

The global beverage fridge market size was estimated at USD 6.54 billion in 2023 and is expected to grow at a CAGR of 5.2% from 2024 to 2030.The demand for household appliances, including beverage fridges, increases as the global population rises. Larger populations mean more households and, consequently, more potential customers. Urban areas typically have higher disposable incomes and a greater tendency to adopt modern appliances, including beverage fridges. The convenience and lifestyle benefits of urban living drive the need for compact and efficient cooling solutions for beverages. With rising disposable incomes, consumers are more willing to invest in appliances that enhance their lifestyle and convenience. Beverage fridges, often considered a luxury item, become more accessible to a broader demographic.

The growing popularity of alcoholic drinks, particularly among young consumers in countries such as the U.S., the UK, India, and Germany, significantly contributes to the demand for beverage fridges. Young adults often seek convenient and stylish ways to store their beverages at home. The trend of microbreweries and craft beer pubs has also increased demand for specialized beverage fridges that accommodate various drinks at optimal temperatures.

The rise of beer-focused events and festivals, such as beer tastings and brewery tours, has become a trendy and fashionable choice for many. This is especially true in big cities like Paris, where beer bars and pubs have become popular hangout spots for young adults, driving the adoption of beer-cooling equipment like beverage coolers. Such attributes shape the demand for draught beers. According to the European Beer Trends Statistics Report 2023 Edition, the popularity of beer has been growing; beer consumption in France increased by 2.7% from 2021 to 2022, reaching a total of 228,00,000 hectoliters (hl).

Furthermore, the trend of home bars and entertaining guests at home has also spurred the demand for beverage fridges. Consumers prefer having chilled drinks readily available, which drives the need for dedicated cooling appliances. The commercial sector, including bars, restaurants, hotels, and cafes, significantly drives the demand for beverage fridges. These establishments require reliable and efficient cooling solutions to store large quantities of beverages.

Manufacturers increasingly offer customizable options for beverage fridges to cater to consumers' aesthetic preferences. These include various sizes, designs, and finishes to match different home decor. In May 2023, Budweiser, in collaboration with BETC Paris and Frog, introduced the “Bud Ground Cooler”-the first sustainable, electricity-free fridge capable of cooling below 6°C. Designed to address extreme heat, the Bud Ground Cooler features an umbrella-like top that provides shade from the intense sun. Beyond its cooling capabilities, it is a perfect gathering spot to beat the heat and stay refreshed.

The market is set for sustained growth, driven by product design innovations, campaigns, collaboration activities, strategic marketing efforts, and expanding distribution networks. Manufacturers and stakeholders in this sector have significant opportunities to capitalize on changing consumer trends and strengthen their positions in the global market.

In September 2023, Cooler Screens, a leader in retail media technology, has recently announced a collaboration with the beverage brand Sparkling Ice. This campaign uses Cooler Screens' advanced AI-driven targeting capabilities to promote Sparkling Ice’s lineup of zero-sugar, bold-flavored beverages. The key deliverable of this partnership is stunning high-definition 4K visuals that are contextually presented and powered by artificial intelligence. These visuals effectively showcase Sparkling Ice's various flavors, including its original and caffeinated options.

Global Beverage Fridge Market Report Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global beverage fridge market report based on product, application, distribution channel, and region:

• Product Outlook (Revenue, USD Million, 2018 - 2030)
• Free-standing
• Countertop
• Built-in
• Application Outlook (Revenue, USD Million, 2018 - 2030)
• Residential
• Commercial
• Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)
• Offline
• Online
• Regional Outlook (Revenue, USD Million, 2018 - 2030)
• North America
• U.S.
• Canada
• Mexico
• Europe
• UK
• France
• Germany
• Spain
• Italy
• Asia Pacific
• China
• Japan
• India
• Australia & New Zealand
• South Korea
• Central & South America
• Brazil
• Middle East & Africa
• South Africa

Please note The report will be delivered in 2-3 business days upon order notification.