Cooler Box Market Was Valued at USD 4,852.9 Million in 2021 Owing to Expansion of Pharmaceutical Sector

According to Precision Business Insights (PBI), the latest report the global cooler box market is valued at USD 4,852.9 million in 2021. The global cooler box market is segmented into the following types By Type (Reusable and Disposable), By End-User (Pharmaceuticals and Food & Beverages), By Raw Material (PU Foam, Expanded Polystyrene, Extruded Polystyrene, Expanded Polypropylene, and Others), and Geography (North America, Europe, Asia-Pacific, Latin America, and MEA) Forecast to 2028. Key players' profiles in the cooler box market report are Sonoco ThermoSafe, B Medical Systems, Blowkings, ISONOVA, Eurobox Logistics, Softbox Systems Ltd, Coldchain Technologies, Inc, Sofrigam Group, FEURER GmbH. The presence of strict temperature control requirements in the pharmaceutical business and the development of international food trade as a result of trade liberalization have a positive impact on the cooler box market. The use of these cooler boxes is limited by extreme cold or rainy days. In excessively cold temperatures, consumers prefer not to consume cold food or beverages. Furthermore, cooler boxes require ice cubes or ice packs to operate. The increasing awareness of environmental issues and proper disposal of waste also act as restraints for the growth of this market.

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Reusable Segment Dominates the Cooler Box Market
In 2021, the reusable cooler box category held the most significant proportion of the cooler box market. Compared to the cardboard and foam of disposable cooler boxes, reusable cooler boxes are becoming more resilient in terms of their exterior. These cooler boxes are generally utilized in the pharmaceutical business, where preserving product temperature for more extended periods is crucial

North America Leads Cooler Box Market:
North America is expected to lead the global cooler box market during the forecast period. The growing demand for cooler boxes in the pharmaceutical cold chain and camping/ family vacations is driving the North American regional market. The cooler box market in the Asia Pacific region is expected to grow the fastest from 2022 to 2028. This growth is primarily attributed to the high demand from China, Japan, South Korea, and India.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global cooler box market further reveals that the key players increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In Aug 2021, Sonoco ThermoSafe, a unit of Sonoco and the leading global provider of temperature assurance packaging, and Korean Air, one of the world's largest air cargo carriers, announced a global partnership agreement for the leasing of the new Pegasus ULD® temperature-controlled bulk shipping container. The agreement enables pharmaceutical freight forwarders access to Pegasus ULD® containers directly from Korean Air. Korean Air and mutual clients will also have access to other Sonoco ThermoSafe containers as part of this agreement.

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Detailed Segmentation
Based on the Type, the market is segmented into the following:
• Reusable
• Disposable

Based on the End Use, the market is segmented into the following:
• Pharmaceuticals
• Food & Beverages

Based on the Raw materials, the market is segmented into the following:
• PU Foam
• Expanded Polystyrene
• Extruded Polystyrene
• Expanded Polypropylene
• Others

Based on the geography, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

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