Cooler Boxes Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030
Page: 215 | Report Code: CG241009 | Research Suite: Report (PDF) & Market Data (Excel)
The global market value of Cooler Boxes Market was valued at USD 5.5 billion in 2022, and a CAGR of 12.1% is expected during the forecast period. Increasing growth in the pharmaceutical industry and an increasing number of cases of Covid-19 vaccines are driving growth in the market significantly. Tremendous growth in the market due to safe transportation of food, fruits, and perishable goods is the key factor behind the significant growth in the market. Increasing growth in the pharmaceutical industry is driving growth in the market.
The increasing need for temperature-controlled storage and transportation, especially for perishable goods, is driving growth in the market. Pharmaceuticals and vaccines are major drivers in the market's growth. Growing trends of outdoor activities such as camping, picnics, and road trips require portable cooling solutions. Healthcare sector relies on cooler boxes to maintain the cold chain during the transportation of temperature-sensitive medical products like vaccines, biologics, and blood products. Increasing demand for cooler boxes in food and beverages and pharmaceuticals is driving growth in the market significantly.
Growth Drivers
Increasing growth in advanced cooling technologies such as electric-powered coolers and high-performance insulation materials is driving the demand in the market significantly. As consumers become more environmentally conscious, the demand for reusable and eco-friendly cooler boxes is increasing. Companies are focusing on producing sustainable products. Global growth in the food and beverage industry, particularly the need for fresh and frozen food transportation, is driving growth in the market significantly.
Increasing demand for ready-to-eat meals and food delivery services
is driving the growth in the market. With the rise of online grocery shopping
and meal-kit delivery services, cooler boxes play a crucial role in the cold
chain logistics, ensuring product freshness upon delivery. Increasing interest
in outdoor activities like camping, fishing, and tailgating has driven demand
for portable cooler boxes. With the growth of food delivery services and online
grocery shopping, cooler boxes are essential for maintaining the cold chain
during transportation, particularly for temperature-sensitive goods like
perishables, pharmaceuticals, and frozen items.
Segmentation
Type
·
Reusable
·
Disposable
End-Users
·
Pharmaceuticals
·
Food and Beverages
Regional Outlook
·
Asia Pacific
·
North America
·
Latin America
·
Middle East and Africa
·
Europe
Cooler Boxes Market by End-User
Segmentation
On the basis of the end-user, the Cooler Boxes Market is segmented into food and beverages and pharmaceuticals. Food and beverages are the leading segment, and pharmaceuticals are expected to significantly grow during the forecast period. Rising disposable income and increasing urbanization are driving the use of cooler boxes all over the world.
Increasing demand to carry food and beverages all over the world, which is used in a wide range of applications, including storing perishable food items and beverages and transporting goods from farms to supermarkets or directly to consumers. Cooler boxes in the food and beverage sector cater to not only industrial applications but also direct consumer use, such as for picnics, camping, and recreational purposes.
Rapid expansion of e-commerce, especially food and
grocery delivery services, has increased the need for temperature-controlled
storage and transportation solutions. Cooler boxes are essential for various
food-related activities like summer outings, picnics, beach trips, and sports
events. Growing trends of outdoor activities such as camping, picnics, and road
trips require portable cooling solutions. The healthcare sector relies on
cooler boxes to maintain the cold chain during the transportation of
temperature-sensitive medical products like vaccines, biologics, and blood
products.
Regional Outlook
On the basis of the regions, the Cooler Boxes Market is segmented into 5 regions: Asia Pacific, North America, Latin America, the Middle East and Africa, and Europe. North America is the leading segment in the market and is expected to dominate the region during the forecast period. Due to the strong culture of outdoor activities like trekking, hiking, camping, fishing, and tailgating. Higher disposable income in the North American region leads to a greater ability to purchase high-end cooler boxes, which are popular for keeping food and drinks cool during trips.
North America is home to several established companies in the Cooler Boxes Market, such as YETI, Igloo, and Coleman, which cater to diverse consumer needs with innovative and premium products. The Cooler Boxes Market in North America also thrives due to its application in the cold chain logistics industry, particularly in the healthcare sector for transporting pharmaceuticals and vaccines. Asia Pacific is the second leading market and is expected to witness significant growth during the forecast period.
Countries like China, India, South Korea, Japan, and Vietnam are witnessing significant growth during the forecast period due to increasing urbanization and industrialization. Increasing growth in the food and beverage industry and pharmaceuticals is driving the demand in the market. Many countries in the region are experiencing rising disposable income. This growth enables more people to invest in leisure activities such as camping, road trips, and outdoor events, which drive the demand for cooler boxes.
Urban dwellers are increasingly adopting western lifestyle recreation, including outdoor activities, hiking, and picnics, where cooler boxes are essential. The region has a booming food and beverage industry, especially with a rise in demand for cold chain logistics. Increasing demand for cooler boxes for transporting temperature-sensitive products efficiently is driving the demand in the market. Asia Pacific is a hub for global tourism, and the demand for cooler boxes rises in tandem with the growth of the travel, hospitality, and event management sectors.
With increasing emphasis on cold chain logistics,
particularly for food safety and pharmaceutical distribution, the need for
cooler boxes in the healthcare and food delivery sectors is surging. Many
regions in Asia Pacific, like Australia and Southeast Asia, are witnessing significant
growth due to increased outdoor activities. Increasing demand for cooler boxes
for camping, beach outings, and sports events is driving growth in the market.
The European market is also not far behind due to increasing industrial growth
and rising disposable income. Countries like France, Germany, Italy, Spain,
England, and Russia are witnessing significant growth in the market.
Key Players
·
Softbox Systems Ltd.
·
Liderkit
·
YETI Coolers
·
Harwal Group of Companies
·
Grizzly Coolers
·
Dhruvraj Syndicate
·
Polar Tech Industries Inc.
·
KOOLATRON
·
Rollaway Container
·
Embalex S.L.U.
·
Nilkamal Ltd.
·
AOV International
·
Blowkings
·
Isonova
· Other Players