Cooler Box Global Market Report 2024

The global cooler box market has grown rapidly in recent years. It will grow from $6.52 billion in 2023 to $7.29 billion in 2024 at a compound annual growth rate (CAGR) of 11.7%. The growth in the historical period can be attributed to the boom in outdoor activities, increased usage of healthcare and pharmaceuticals, the popularity of outdoor events and festivals, the effects of urbanization and convenience, and the growth of food delivery services.

The global cooler box market is expected to see rapid growth in the next few years. It will grow to $11.64 billion in 2028 at a compound annual growth rate (CAGR) of 12.4%. The anticipated growth in the forecast period can be attributed to the increasing demand for portable storage, the growth of the healthcare and pharmaceutical sectors, the emphasis on sustainable and eco-friendly solutions, the rise in outdoor recreation and travel, the effects of urbanization and the pursuit of convenience, and the expanding growth in food delivery services. Major trends expected in this period include heightened demand in the beverage industry, ongoing innovations in design and portability, a focus on regulatory standards and compliance, and a drive towards customization and innovation in the sector.

The cooler box market is experiencing substantial growth, propelled by the expanding pharmaceutical industry. With a focus on preventing and curing diseases, the pharmaceutical sector relies on various temperature-sensitive products like test samples, blood packets, and vaccines. Cooler boxes play a crucial role in maintaining a consistently cold environment, ensuring the safe transportation of pharmaceutical goods. Notably, India's drug and pharmaceutical exports surged to $24.62 billion in 2021-22, highlighting the significance of cooler boxes in supporting the pharmaceutical industry's growth.

Government initiatives promoting agritourism farms are anticipated to drive the cooler box market forward. Agritourism involves tourists experiencing agricultural life, necessitating effective storage and transportation of perishable goods for farmers. Cooler boxes become indispensable for preserving the freshness of products during sales at agritourism farms. An example includes the Irish government allocating $3.06 million to fund 19 local agro-food tourism projects in June 2022, aiming to foster rural development and create opportunities for farmers and artisans. The support for agritourism activities underscores the increasing relevance of cooler boxes in diverse agricultural contexts.

Technological advancements are shaping the cooler box market, with key companies focusing on improving user experience and providing eco-friendly solutions. Igloo, a Texas-based cooler manufacturer, exemplifies this trend by introducing the ECOCOOL collection, the world's first hard-sided cooler made from recycled plastic. In addition, they launched Packable Puffer cooler bags made from post-consumer recycled plastic bottles. These innovations demonstrate a commitment to sustainability, utilizing recycled materials to create efficient and environmentally conscious cooler solutions.

In the pursuit of sustaining market leadership, major cooler box manufacturers are introducing innovative products. Pelican Products, Inc., a US-based company specializing in protective cases and coolers, launched the PelicanTM 8QT Personal Cooler in November 2022. This portable lunchbox cooler, designed with premium features and Pelican's renowned durability, promises superior cold retention throughout the day. With a capacity to hold up to 8 canned drinks, the cooler features a removable and reusable integrated ice pack, ensuring optimal cooling for food and beverages. Such advancements contribute to the evolution of cooler boxes, meeting the dynamic needs of consumers and industries.

Market dynamics in the cooler box industry are influenced by strategic acquisitions. Cold Chain Technologies LLC, a US-based provider of insulated packaging solutions, acquired Packaging Technology Group in March 2022. This strategic move expands Cold Chain Technologies' product portfolio by incorporating recyclable thermal packaging solutions. Packaging Technology Group, a provider of thermally engineered packaging solutions for the biotech, biopharmaceutical, and medical industries, aligns with Cold Chain Technologies' commitment to delivering innovative and reliable temperature-controlled packaging solutions.

Major companies operating in the cooler box market report are Sonoco ThermoSafe, B Medical Systems S.à r.l., BLOWKINGS, Nilkamal Limited, IsoNova Technologies LLC, Eurobox Logistics S.A., Softbox Systems Ltd., Sofrigam S.A., CIP Industries B.V., Coldchain Controls LLC, Apex International, The Cool Ice Box Company Ltd., Outdoor Recreation Company of America, WildCoolers LLC, Liderkit S.A., K2 Coolers LLC, Yeti Holdings Inc., Pelican Products Inc., Igloo Products Corp., Grizzly Coolers LLC, Rubbermaid Inc., Engel Coolers LLC, The Rubbermaid Company, Polar Bear Coolers LLC, Canyon Coolers LLC, RTIC Coolers LLC, California Innovations Inc., Wal-Mart Stores Inc., Coleman Company Inc., and Stanley Black & Decker Inc.

North America was the largest region in the cooler box market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cooler box market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the cooler box market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The two main types of cooler boxes are reusable and disposable. Reusable cooler boxes can be employed multiple times to preserve goods by sustaining a low internal temperature for an extended duration. These boxes often feature more durable, thicker, and more effective insulation for prolonged cooling. Cooler boxes come in various forms, including handled and wheeled versions, utilizing cooling materials like wet ice, dry ice, and gel packs. Raw materials used in their production include PU foam, expanded polystyrene, extruded polystyrene, and expanded polypropylene. Cooler boxes are well-suited for applications in the pharmaceutical and food and beverage sectors.

This report provides cooler box market statistics, including cooler box industry global market size, regional shares, competitors with a cooler box market share, detailed cooler box market segments, market trends and opportunities, and any further data you may need to thrive in the cooler box industry. This cooler box market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The cooler box market consists of sales of hard-sided coolers, beach coolers, travel coolers, backpack coolers, and camping coolers. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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