Global Cooler Box Market Report 2023: Forecast Market Size, Growth Rate, Major Trends, And Top Opportunities
24 May, 2023
The global cooler box market size is expected to grow from $5.83 billion in 2022 to $6.51 billion in 2023, at a compound annual growth rate (CAGR) of 11.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The cooler box market is expected to grow to $10.09 billion in 2027 at a CAGR of 11.6%.
Global Cooler Box Market Key Driver
The expansion of the pharmaceutical industry is a significant contributor to the expansion of the cooler box market. Pharmaceutical companies make medications used to prevent and cure diseases. The pharmaceutical industry uses a variety of products, such as test samples for medicines, blood samples, blood packets, ampules, and vaccines, that remain safe and stable in colder temperatures. Cooler boxes keep their internal environment colder and unaffected by outside temperature, which aids 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 from $20.70 billion in 2019–20 to $24.62 billion in 2021–22. Therefore, growth in the pharmaceutical industry will drive the cooler box market.
Get a sample of the global cooler box market reportGlobal Cooler Box Market Segments
The global cooler box market 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
6) By Geography: The regions covered in the cooler box market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, North America accountsfor the largest share in the global cooler box market.
Major Cooler Box Industry Players
Sonoco ThermoSafe, B Medical Systems, Blowkings, Nilkamal Limited, IsoNova Technologies LLC, Eurobox Logistics, Softbox Systems, Sofrigam, CIP Industries, Coldchain Controls, Apex International, The Cool Ice Box Company Ltd., ORCA Coolers, Wild Coolers, Liderkit, and K2 Coolers.
Get the full global cooler box industry reportCooler Box Market Overview
A cooler box is a portable cooling appliance made of insulating material that maintains its internal temperature regardless of the outside temperature. This is used to keep perishable goods fresh and cool for a long time. It is frequently kept closed and only opened when something from inside is required.
Cooler Box Global Market Report 2023 provides data on the global cooler box market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The cooler box market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
