Water Cooler Market Overview:
The global water cooler market size was valued at $836.5 million in 2019. According to the water cooler market analysis, the market is estimated to reach $992.4 million by 2027. The water cooler market forecast stated a growing CAGR of 3.8% from 2021 to 2027. The water cooler is a mechanism that provides chilled water, while some water cooler models used to provide hot and cold water as well. In water coolers, the refrigerant is in a gas form, which circulates in the pipes. These refrigerant drivers the heat away from the water, which provides chilled water. Also, the water coolers have a property to purify water. Furthermore, the bottled water coolers use the refillable water tank that is filled with purified water.
The rise in consumption of water cooler in commercial institutes such as offices, colleges and hospitality sector is the major factor contributing toward the growth of global water cooler companies. The market size was valued at $836.5 million in 2019. According market analysis, the market is estimated to reach $992.4 million by 2027. The market forecasted a growing CAGR of 3.8% from 2019 to 2027.
The COVID-19 pandemic has adversely affected the market growth of water cooler. As the governments have issued instructions to maintain social distancing and follow safety instructions to control the spread of coronavirus. Due to government norms, the production went on a temporary halt. Also, the logistics and supply chain of the water cooler got disturbed because of the lockdown. Consequently, this caused huge losses to the water cooler manufacturers. Furthermore, the customers avoided the usage of public water cooler installed in public places to avoid further spread of the disease. Instead of using water cooler, the customer switched to the substitutes such as packed drinking water bottles. Thus, this adversely affected the water cooler companies at global level.
According to the analysis, market is segmented on the basis of product type, application, distribution channel, and region. On the basis of product type, the market is categorized into bottled water cooler, bottleless water cooler and top-load water cooler. On the basis of application, it is segmented into commercial and residential. By distribution channel, it is segregated by direct distribution, supermarket/hypermarket, specialty stores and e-commerce. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain and Rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, South East Asia and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East and Africa)
Based on the product type, the market is segmented as bottled water cooler, bottleless water cooler and top load water cooler. In this, the bottled and top-load water cooler requires a plastic or bottled water jug. This water jug acts as a tank in these water coolers. Furthermore, the water jug is to be changed on a regular basis. Whereas, the bottleless water cooler does not require water jugs. It is simply attached to the water supply such as water taps, and it is ready to work. Moreover, the filter candles in bottleless water cooler are needed to be changed after every 6 months.
By Product Type
The Bottleless water cooler segment is the fastest growing segment of Global Water Cooler Market
On the basis of application, the market segment includes commercial and residential institutes. In this, the market has gained a significant popularity in the residential segment. This popularity attributes to rise in urbanization, surge in the cases of virus and waterborne diseases. Furthermore, the commercial segment is the highest contributor to the increase in water cooler market demand. As the increase in number of offices, schools, colleges and restaurants are fueling the market growth from this segment.
By Application
Residential water cooler segment is the fastest growing segment of Global Water Cooler Market
Based on distribution channel, market is categorized into direct distribution, supermarket/hypermarket, specialty stores and e-commerce. In this segment, the supermarket/hypermarket segment is the highest contributor to the market. This is because the supermarket/hypermarket allows the customer to try, test and then purchase the product. Furthermore, the supermarket/hypermarket provides instant gratification of the product to the customer. Thus, the supermarket/hypermarket boosts the market growth.
By Distribution Channel
The E-Commerce segment is the fastest growing segment of Global Water Cooler Market
Region-wise, the industry is analyzed across North America, Europe, Asia-Pacific and LAMEA. North America was the highest contributor to the market growth. The water cooler market is highly competitive in this region. As there are numerous water cooler industries in this region. This competitive environment encourages the manufacturers to introduce a product with unique feature and technology. Consequently, this increases the variety of water coolers in market and thus, influences the customer for purchasing the latest model.
By Region
North America segment is the fastest growing segment of Global Water Cooler Market
Key players in this industry rely on strategies such as product launch and innovation to remain in relevant in the global water cooler market share. These strategies are adopted to maintain the dominance of the industry. The key players in the global water cooler industry profiled in the report are AB Electrolux, Avalon Water Coolers, Blue Star Limited, Brio Water Technology, Clover Co., Ltd., Farberware Cookware, Kenmore, Oasis International, Primo Water Corporation and Voltas Ltd.
Key Benefits For Stakeholders
- The report provides a quantitative analysis of the current global water cooler market trends, estimations, and dynamics of the market size from 2021 to 2027 to identify the prevailing opportunities.
- Porter’s five forces analysis highlights potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis and the market trends and segmentation assists to determine the prevailing global water cooler market opportunity.
- The major countries in each region are mapped according to their revenue contribution to the market.
- The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the industry.
Key Market Segments
By Product Type:
- Bottled water Cooler (BWC)
- Bottleless water cooler
- Top load water cooler
By Application:
- Commercial
- Residential
By Distribution Channel:
- Direct distribution
- Supermarket/Hypermarket
- Specialty Stores
- E-commerce
Market, By Region:
- North America
- Europe
- Asia-Pacific
- LAMEA
Water Cooler Market Report Highlights
| Aspects | Details |
 By PRODUCT TYPE |
|
 By APPLICATION |
|
 By DISTRIBUTION CHANNEL |
|
 By Region |
|
 Key Market Players | Clover Co., Ltd, AB Electrolux, Oasis International, Voltas Ltd.., Kenmore, Brio Water Technology, Inc., Farberware Cookware, Blue Star Limited, Primo Water Corporation, Avalon Water Coolers |
Analyst Review
Increase in preference toward chilled water boosts the water cooler market growth. Furthermore, degradation in water qualities, due to dumping of industrial wastes in water bodies and throwing garbage in water channels leads to increase in water cooler demand. This practices led to increase in water-borne diseases and poor water quality. As a result, customers are becoming more health and hygiene conscious. This rise in awareness among the customer contributes toward the water cooler market growth. Moreover, the developing nations such as India and Brazil, have witnessed rise in population, awareness of health as well as hygiene and increase in disposable income. As a result, this contributed to the growth of the global water cooler market.
During the COVID-19 pandemic, the water cooler market was adversely affected by the lockdown. As due to lockdown, the production of water cooler was put on hold. Also, the disruption in supply chain occurred because of lockdown, which added the loss to the water cooler industry. Thus, the water cooler manufacturer suffered a huge loss during the COVID-19 pandemic.
However, the market is recovering from the damages caused by the COVID-19 to the businesses. Also, many plants and production units are reopening after the lockdown. Also, the manufacturers are introducing new changes to their products such as technology and design. This leads to the global water cooler market growth.
The global water cooler market size from 2021 to 2027 will be $992.4 million.
The CAGR of global water cooler market is 3.8%.
The base year calculated in the global water cooler market report is 2019.
The top companies in the global water cooler market are AB Electrolux, Avalon Water Coolers, Blue Star Limited, Brio Water Technology, Clover Co., Ltd., Farberware Cookware, Kenmore, Oasis International, Primo Water Corporation and Voltas Ltd.
According to the global water cooler market analysis, the market is segmented by the product type, application, distribution channel, and region. On the basis of the product type, the market is categorized into bottled water cooler, bottleless water cooler and top load water cooler. On the basis of application, it is segmented into commercial and residential. By distribution channel, it is segregated by direct distribution, supermarket/hypermarket, specialty Stores and e-commerce. Region-wise, it is analysed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain and Rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, South East Asia and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East and Africa).
The rapid growth in the number of commercial institutes such as restaurants, hospitals and colleges leads to the increase in the demand for the water coolers. Furthermore, the rise in technologies in water coolers such as RO, UV, touch less operation, energy efficient water coolers is one of the major factor driving towards the global water cooler market growth.
The North America holds the maximum market share of the global water cooler market.
The rural and remote areas are out of reach from the global water cooler market. As in the rural areas the spending power of people is less and majority of the income is spent on the fulfilment of the basic needs. Whereas, in remote areas the supply of the water cooler becomes a major issues because of the location barrier. Also, the transit charges hikes the price of the product. Consequently, the unattainable distribution channel and lower disposable income leads to become a restraint of the global water cooler market.
The COVID-19 adversely affected the market growth of global water cooler industry. Due to the lockdown the factoring and production units were temporarily shut down to avoid further spread of coronavirus. This affected the business of the global water cooler market.
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