Cooler Box Size, Share, Growth, Outlook And Forecast Report 2024 To 2033

The cooler box market size has grown rapidly in recent years. It will grow from $6.52 billion in 2023 to $7.29 billion in 2024 at a compound annual growth rate (CAGR) of 11.7%. The growth in the historic period can be attributed to outdoor activities boom, healthcare and pharmaceuticals usage, outdoor events and festivals, urbanization and convenience, food delivery service growth.

The cooler box market size is expected to see rapid growth in the next few years. It will grow to $11.64 billion in 2028 at a compound annual growth rate (CAGR) of 12.4%. The growth in the forecast period can be attributed to rising demand for portable storage, healthcare and pharmaceuticals growth, sustainable and eco-friendly solutions, outdoor recreation and travel, urbanization and convenience, growth in food delivery services. Major trends in the forecast period include demand in beverage industry, innovations in design and portability, regulatory standards and compliance, customization and innovation.

Market Overview -
The cooler box refers to a portable cooling appliance made with insulating material to maintain its internal temperature regardless of the outside temperature. This is used to preserve perishable goods or keep them fresh and cool for a long time. It is often kept closed and only opened when something from inside is required.

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Pharmaceutical Industry Growth Propels Cooler Box Market Expansion
The growth in the pharmaceutical industry is significantly contributing to the growth of the cooler box market. The pharmaceutical industry includes businesses that produce preparations used to prevent and cure diseases. The pharmaceutical industry uses various products like test samples for medicines, blood samples, blood packets, ampules, and vaccines, which stay safe and stable under colder temperatures. Cooler boxes keep their inside environment colder and unaffected by outside temperature, which helps in the safe transportation of pharmaceutical products. For instance, according to the India Brand Equity Foundation (IBEF), an Indian Government export promotion agency, India's drug and pharmaceutical exports increased to $24.62 billion in 2021-22. Therefore, growth in the pharmaceutical industry will drive the growth of the cooler box market.

Competitive Landscape -
Major companies operating in the cooler box market report are Sonoco ThermoSafe, B Medical Systems S.à r.l., BLOWKINGS, Nilkamal Limited, IsoNova Technologies LLC, Eurobox Logistics S.A., Softbox Systems Ltd., Sofrigam S.A., CIP Industries B.V., Coldchain Controls LLC, Apex International, The Cool Ice Box Company Ltd., Outdoor Recreation Company of America, WildCoolers LLC, Liderkit S.A., K2 Coolers LLC, Yeti Holdings Inc., Pelican Products Inc., Igloo Products Corp., Grizzly Coolers LLC, Rubbermaid Inc., Engel Coolers LLC, The Rubbermaid Company, Polar Bear Coolers LLC, Canyon Coolers LLC, RTIC Coolers LLC, California Innovations Inc., Wal-Mart Stores Inc., Coleman Company Inc., Stanley Black & Decker Inc.

Igloo's Technological Breakthroughs Pave The Way For Sustainable Cooling Solutions
Technological advancements are the key trend gaining popularity in the cooler box market. Major companies operating in the cooler box market are indulging in the technological advancement of their product offerings for a better user experience and to provide more eco-friendly solutions. Such advancements enable key players to gain a competitive edge in the market. For instance, in April 2021, Igloo, a Texas-based international designer, manufacturer, and marketer of coolers, launched the ECOCOOL collection and the Packable Puffer cooler bags. ECOCOOL is the world's first hard-sided cooler made with recycled plastic. The Packable Puffer cooler bags are constructed from post-consumer recycled plastic bottles with PrimaLoft insulation and REPREVE fabric. The post-consumer plastic from discarded milk and yoghurt containers that were otherwise destined for landfills was used to make up the recycled components. It is made with a fully packable design that enables it to fold into its front pocket for maximum mobility when empty. Despite this, it still has the cooling capacity to keep food fresh and beverages icy for a whole day of activity.

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Key Segments -

The cooler box market covered in this report is segmented -

1) By Type: Reusable, Disposable
2) By Product: Handle, Wheeled, Handle and Wheel
3) By Cooling Material: Wet Ice, Dry Ice, Gel Packs
4) By Raw Material: PU Foam, Expanded Polystyrene, Extruded Polystyrene, Expanded Polypropylene
5) By End Use: Pharmaceuticals, Food and Beverages

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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