Foam Cooler Box Market Is Set to Experience Revolutionary Growth by 2031

As per Future Market Insights (FMI), sales of foam cooler boxes are set to expand by 1.9X between 2021 and 2031. Burgeoning demand for temperature-controlled packaging products is resulting in increased sales of foam cooler boxes.

Following the outbreak of COVID-19, pharmaceutical supplies and food & beverages products witnessed skyrocketing demand. In response to this, the consumption of temperature controlled packaging products escalated during the FQ-20.

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Increasing development of vaccines, lifesaving drugs, and other essential pharmaceutical ingredients improved the demand for temperature-controlled products for safe transportation. Hence, the outbreak of COVID-19 and need for safe packaging solutions have stimulated the demand for foam cooler boxes.

Rising awareness regarding preservation of food items to increase their shelf lives and decrease the overall wastage is encouraging manufacturers to opt for foam cooler boxes. Improper storage and transportation facilities might results in damaged food products, causing losses in the food industry.

As consumers are demanding fresh food to be delivered to their doorsteps, leading food brands and suppliers are increasing the adoption of foam cooler boxes to offer a longer shelf life.

Foam cooler boxes will therefore remain highly sought-after for packaging in dairy products, frozen meat, seafood and other such items including fruits & vegetables.

Key Takeaways from Foam Cooler Box Market

The foam cooler boxes having a capacity of above 150 Quart are anticipated to register growth at 8.1% CAGR between 2021 and 2031.

Large-sized foam cooler boxes are gaining traction among exporters and supply chain partners, due to a decrease in overall transportation and packaging costs incurred by key end-users.
Presence of leading pharmaceutical companies along with increasing production of COVID-19 vaccines in the U.S. are accelerating demand for foam cooler boxes. The U.S. is projected to offer a total incremental opportunity of US$ 211 Mn over the upcoming decade.

Sales of foam cooler boxes made up of polyurethane are estimated to grow by 1.9X compared to 2020 market value over the forecast period.
Germany will account for 15.3% of total sales of foam cooler boxes across the Europe foam cooler box market.
In terms of end-use, pharmaceutical industry offers incremental opportunity of US$ 704 Mn between 2021 and 2031.

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"Surging adoption of frozen food items and focus on development of pharmaceutical drugs are stimulating the demand for foam cooler boxes across the globe. Manufacturers are offering disposable and re-usable product options for foam cooler boxes, creating billion dollar sales opportunities in the market," says FMI analyst.

Foam Cooler Box Market Landscape-
Some of the key players operating in the global industrial packaging market are Yeti Coolers, LLC, Igloo Products Corporation, The Coleman Company, Inc, Sonoco ThermoSafe, Cool Ice Box Co Ltd, Coldchain Technologies, Inc, Plastilite Corporation, Pelican Products, Inc., MacNeill Pride Group (ORCA), Bison Coolers, RTIC Outdoors LLC, Koolatron US, Aohong Industry Co., Ltd., Rodman Plastics Company Ltd., and Carris Pipes & Tubes Pvt. Ltd.

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Foam Cooler Box Market by Category

By Capacity:
Up to 25 Quart
26-75 Quart
76-150 Quart
Above 150 Quart
By Carrying Method:

Side Handles
Lid Handles
Shoulder Strap
Wheel

By Material type:
Expanded Polystyrene
Expanded Polypropylene
Polyurethane
Closed-cell Polyethylene

By End Use Industry:
Food & Beverages
Pharmaceutical
Cosmetics & Personal Care
Chemical
Others

By Region:
North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East & Africa (MEA)

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.