Selbyville, Delaware, May 23, 2024 (GLOBE NEWSWIRE) --
Cooler Box Market Size is projected to record USD 15 billion by the end of 2032. The increasing popularity of outdoor recreational activities, such as camping, picnicking, and outdoor events is fueling the demand for cooler boxes to keep food & beverages fresh and cold.
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The rising concerns about food safety and hygiene during transportation and storage is further driving the adoption of cooler boxes for transporting perishable goods. The growing trend of online grocery shopping and home delivery services is creating opportunities for cooler boxes as a convenient solution for maintaining the temperature of delivered goods.
As per the data from Agriculture and Agri-food Canada, the exports of processed food & beverage products stood at a value of USD 54.3 billion in 2022. Cooler boxes are extensively used in the transportation and storage of these commodities, thus, escalating their demand. Significant developments in cooler box design and materials, like enhanced insulation and durability, are improving product performance and user experience. The expansion of the food and beverage sector along with the rise in disposable incomes will further drive the demand for cooler boxes, particularly in emerging economies.
Disposable cooler boxes to attract high demand
The disposable type segment of the cooler box market will grow at a significant rate between 2024 and 2032. The convenience offered by disposable cooler boxes for single-use purposes is appealing to consumers seeking hassle-free solutions for short-term storage and transportation of perishable goods. The increasing demand for eco-friendly and biodegradable packaging options is further fueling the adoption of disposable cooler boxes made from sustainable materials to meet the consumer preferences for environmentally conscious products.
Rising adoption for food & beverages
In terms of end-use, the cooler box market is estimated to depict substantial gains from the food & beverages segment from 2024 to 2032. The expanding food delivery and catering industries are driving the demand for cooler boxes to maintain the freshness and safety of perishable items during transportation. The rise in outdoor events and recreational activities is increasing the need for cooler boxes to store and transport food and beverages. The growing popularity of outdoor dining and picnicking will further boost the segment growth.
Europe to garner significant market share
Europe cooler box market is estimated to depict notable growth between 2024 and 2032. The robust outdoor recreational culture, including camping and picnicking are favors the usage of cooler boxes to preserve food and beverages. The increasing concerns about food safety and hygiene during transportation and storage is amplifying the product uptake. The rising popularity of outdoor events and festivals across the region are creating opportunities for cooler boxes as essential accessories for keeping refreshments cool and fresh.
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Cooler Box Market Participants
Some of the leading firms operating in the cooler box industry include Bison Coolers, B Medical System, Blowkings, Coldchain Technologies Inc., Cool Ice Box Company, Eurobox Logistics, FEURER GmbH, Igloo, ISONOVA, K2 Coolers, and Sonoco Products Company.
These players are engaging in expansion strategies, such as mergers & acquisitions, collaborations, and launching new products to reinforce their market presence. For instance, in May 2024, Ninja, a product design company, introduced its inaugural cool box, the FrostVault, ideal for the summer months. With a spacious 28-liter capacity, a dry storage drawer, and a sleek, resilient design, the Ninja FrostVault has emerged as a summer essential.
Partial Table of Contents (ToC) of the report:
Chapter 2 Executive Summary
2.1 Cooler box market 3600 synopsis, 2018 - 2032
2.2 Business trends
2.3 Regional trends
2.4 Type trends
2.5 Raw material trends
2.6 End use trends
Chapter 3 Cooler Box Industry Insights
3.1 Impact of COVID-19
3.2 Impact of the Russia-Ukraine war
3.3 Industry ecosystem analysis
3.4 Vendor matrix
3.5 Profit margin analysis
3.6 Technology & innovation landscape
3.7 Patent analysis
3.8 Key news and initiatives
3.8.1 Partnership/Collaboration
3.8.2 Merger/Acquisition
3.8.3 Investment
3.8.4 Product launch & innovation
3.9 Regulatory landscape
3.10 Impact forces
3.10.1 Growth drivers
3.10.1.1 Growing demand for temperature-controlled transportation and storage
3.10.1.2 Ongoing innovations such as advanced insulation materials
3.10.1.3 Rising outdoor activities and recreational trends
3.10.1.4 Environmental concerns and sustainability
3.10.1.5 The growth of online retail and the need for effective last-mile delivery solutions
3.10.2 Industry pitfalls & challenges
3.10.2.1 Cost and affordability
3.10.2.2 Regulatory compliance challenges
3.11 Growth potential analysis
3.12 Porter's analysis
3.13 PESTEL analysis
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