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Global Market for Insulated Coolers is projected to expand at a CAGR of 6.6% between 2022 and 2029

09-23-2022 07:22 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Future Market Insights

Future Market Insights

Future Market Insights

The market for insulated coolers is anticipated to reach USD 1,094 Mn by 2029, at a CAGR of 6.6 percent from USD 699 Mn in 2022. The market for insulated coolers will account for roughly 3.5 percent of the US$ 22 billion cold chain packaging market in 2022.

According to the FMI analysis, the market for insulated coolers would grow by 1.6 times its value from the base year throughout the projection period, creating lucrative investment prospects for the industry. The insulated coolers market analysis reveals that between 2022 and 2023, the global consumption of insulated coolers as a whole is predicted to grow by 5.0 percent year over year (YoY).

In the worldwide insulated coolers market, hard coolers are anticipated to continue to grow.

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Key Takeaways from the Market Study on Insulated Coolers

Demand for insulated coolers is anticipated to increase in the United States due to rising popularity of outdoor and sporting activities like camping, fishing, and hiking.
Due to their superior durability and superior capacity for ice retention as compared to soft coolers, hard coolers continue to be the most popular insulated coolers.
In terms of capacity, it is anticipated that 26-75 quart insulated coolers would experience strong global sales in 2019. Customers choose 26-75 quart insulated coolers because of their ample storage capacity, ease of outdoor handling and carrying, and 26-75 quart size.
As consumers look for durability and portability when buying insulated coolers, manufacturers can make considerable profits by concentrating on hard insulated coolers with side handles.

Acquisitions to Remain Key Developmental Strategy

The insulated coolers market is undergoing product development and expansion. Key players aim to introduce new designs of insulated coolers in the market in response to changing consumer preferences. Additionally, big companies offering insulated coolers are focusing on opening retail stores to expand their customer base.

In June 2022, Yeti Holdings Inc. opened a 5,000-square-foot retail location in Charleston, S.C., U.S. In September 2019, it opened a 4,900 square-foot store in Chicago, U.S.
In April 2022, Igloo Products Corporation launched RECOOLER, a pulp-based biodegradable cooler, as an alternative to Styrofoam coolers.
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US Brands Become Trendsetters, with Online Sales Strategy

The U.S., home of high-end insulated cooler manufacturers, is estimated to dominate in terms of demand. Moreover, U.S.-based manufacturers will be the trend setters with regard to insulated cooler design. Leading companies in the insulated coolers market are investing in online stores and supply chain development, and are leveraging E-commerce and social media to shape buying patterns of their potential customers.

Competitive Landscape

The key manufacturers operating in the insulated coolers market are trying to focus on innovative product launch, expansion due to the increasing demand from the sports, food & beverage and pharmaceutical sectors.

In August 2021, Igloo Products Corp. partnered with National Football League and released the first-ever NFL playmate cooler collection and customized their branded Little Playmate cooler for each of the 32 NFL teams.
In May 2020, Pelican Products, Inc. launched a new 14QT personal cooler, it is the first cooler to separate wet and dry storage.
In August 2019, YETI Coolers LLC launched their latest soft cooler collection the Hopper® M30®. This cooler has a new leak-re
Key Companies Profiled

YETI Coolers LLC
Igloo Products Corp.
The Coleman Company, Inc.
Pelican Products, Inc.
RTIC Outdoors LLC
ORCA
Bison Coolers LLC
Otter Products llc
Koolatron Corp
COLD & CO
AO Coolers
Stanley a brand of PMI
K2 Coolers
Engel Coolers
Grizzly Coolers LLC
Insulated Coolers Market by Category

By Capacity:

Upto 25 Quart
26-75 Quart
76-150 Quart
Above 150 Quart
By Product type:

Hard Coolers
Soft Coolers
By Carrying capacity:

Side Handles
Lid Handle
Shoulder Strap
Wheel
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What is the Impact of the COVID-19 Pandemic on the Global Insulated Coolers Market?

The Covid-19 pandemic has influenced almost every perspective of life due to industrial downtime, supply chain hamper, downfall in the sales revenue due to decline in buying preferences.

The improper storage and handling of vaccines will reduce the vaccine potency will result in revaccination will generate huge financial loss due to wasted vaccines. The escalating preference for safe and reliable vaccine transportation during the pandemic has generated a massive demand for the insulated coolers market.

The growing demand for storing and transporting Covid-19 vaccines to hospitals, laboratories, medical offices and pharmacies propel a significant demand for insulated coolers. The insulated coolers are lightweight, easy to carry and the most economical way to transport temperature-sensitive products which maintain temperature control.

Contact:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com

About Us

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

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