Global Insulated Coolers Market is segmented By Product (Hard coolers, Soft coolers), By Carrying Method (Side handles, Lid handle, Shoulder Strap, Wheel), By Capacity (Below 25 quart, 26-75 quart, 76-150 quart, Above 150 quart), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Insulated Coolers Market Overview
The Insulated Coolers Market is estimated to reach at a CAGR of 6.4% during the forecast period 2024-2031.
Insulated coolers are movable containers having insulating layers on the interior surfaces to prevent heat transfer and keep objects stored inside the insulated cooler cool. To boost the cooling capacity of insulated coolers, certain coolers have been constructed with ice packs that fit inside them. On-road vacations, picnics, hikes, and other outdoor events, insulated coolers are popular among families and travellers. They are great for storing cold beverages such as wines, beers, and soft drinks during the hot summer months.
Insulated Coolers Market Scope
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Metrics |
Details |
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Market CAGR |
6.4% |
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Segments Covered |
By Product, By Carrying Method, By Capacity and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
North America |
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Insulated Coolers Market Trends
The market for insulated coolers is expected to rise as insulated cooler manufacturers introduce coolers with improved lightweight designs and better thermal insulating materials that keep stored food cooler for longer periods.
Increased use of insulated coolers has resulted from increased engagement in outdoor recreational activities such as camping and short excursions.
Consumers are replacing outdated coolers with modern built insulated coolers due to technological advancements in the insulated cooler. This, in turn, leads to increased consumer spending and a greater focus on convenience. In contrast, camping and outdoor activities, as well as increased beverage consumption during outdoor activities, all of which can be linked to the growing insulated cooler industry.
Because of the strong demand for durability, the rotationally molded method is expected to be widely used in the production of insulated coolers. The insulated cooler appeals to consumers because of its lightweight and longer ice retention time. Due to their simple handling and small shape, millennials are expected to prefer insulated coolers.
Demand for biodegradable insulated coolers has increased.
Due to a growing intolerance of plastic use and low-cost solutions, biodegradable insulated coolers are gaining a lot of traction in the global market. Competitors' principal strategies for remaining competitive in the global insulated cooler market are expected to be reshaped due to the introduction of such goods.
Igloo, for example, was one of the first companies to embrace the reuse-recycle-reduce tagline with the release of RECOOL, a 100 percent biodegradable cooler in 2019. The Alkyl ketene dimer, a natural binding and waxing agent, makes this cooler from recycled paper pulp. RECOOL can preserve ice for up to 12 hours and is water-resistant for up to 5 days, despite the fact that paper is a fundamental component. Such a cost-effective approach will hinder market expansion in the near future.
Stringent environmental rules & regulations regarding the use of plastic.
Concerns about the environmental impact of plastic garbage have prompted governments worldwide to enact strict restrictions. For example, on June 26, 2020, the Indian government amended its Plastic Waste Management Norms. Standard tests are also carried out to ensure that packing systems can sustain the temperature range required by the International Safe Transit Association (ISTA) standards for packaging, storage, and transportation of goods.
Because governments are looking for new measures to discourage plastic waste, the European Commission's packaging directives have resulted in the enforcement of demanding recycling objectives. As a result, rising environmental consciousness and proper waste disposal act as restrictions on the market's growth.
COVID-19 Impact on Insulated Coolers Market
The global consequences of the coronavirus infection in 2019 (COVID-19) are already being seen, and the Insulated Coolers market will be significantly impacted in 2020. Over forty countries have declared states of emergency, resulting in flight cancellations, travel bans, and quarantines; restaurants have closed; all indoor/outdoor events have been canceled; and over forty countries have declared states of emergency; significant supply chain slowdown; stock market volatility; plummeting business confidence, increased panic among the populace, and concern about the future have all been impacted by the COVID-19 epidemic.
Insulated Coolers Market Segmentation Analysis
By Product, the insulated coolers market comprises two categories: hard coolers and soft coolers.
Hard coolers are expected to dominate the market in the coming years.
Hard coolers continue to sell higher in the insulated coolers market due to their durability and efficient cooling. Leading manufacturers of hard coolers are reaping maximum profits in developed regions.
Soft coolers are also gaining traction on the back of their portability and storage-efficiency quotient. However, their demand growth would remain relatively moderate due to their limited cooling capacity.
Global Insulated Coolers Market Geographical Share
North America holds the largest market share global Insulated Coolers market.
Worldwide sales of insulated coolers remain centered in the United States, which could surpass US$ 400 million by the end of 2019. The existence of established players like Bison Coolers LLC and RTIC Coolers LLC, the demand for insulated coolers in the pharmaceuticals industry, and the rising outdoor activities such as camping, hiking, cruising, and other types of outdoor family vacations will continue to drive the market in North America forward.
By the conclusion of the forecast period, the European market will have generated over $100 million, with the United Kingdom and Germany accounting for significant shares. Furthermore, market players are focusing on developing Asian countries, which have seen significant growth in online shopping in recent years, particularly in China and India.
Insulated Coolers Market Companies and Competitive Landscape
The worldwide Insulated Coolers market looks fragmented with the presence of a large number of global as well as regional players. Key players operating in the global market for Insulated Coolers include YETI Holdings, Igloo Products, The Coleman Company, Pelican Products, Outdoor Recreation Company of America, Bison Coolers, RTIC Coolers, and PMI.
Igloo Products
Overview: The family outdoor recreation movement of the twentieth century was made feasible by Igloo goods. Igloo now has 1200 employees as we enter the twenty-first century. We are happy to call Katy, Texas, home to the 1.8 million-square-foot, three-building facility. It can safely declare itself one of the number one cooler-makers globally, with over 500 models sold at hundreds of retailers across the world.
Product Portfolio: They manufacture a variety of hard and soft coolers, along with drinkware and other accessories.
Key Developments: In 2021, Igloo Products Corp., the brand new Beatles Yellow Submarine Playmate Collection, based on the renowned rock band's landmark animated 1968 film and associated album, has been released. This limited-edition set includes three small playmate coolers featuring the cartoon film's famed, psychedelically vivid artwork: the yellow submarine little playmate, all you need is love little playmate and blue meanies little playmate.
The global insulated coolers report would provide access to an approx. 63 market data table, 55 figures and 180 pages.
