Global Cooler Box market trends 2024, Forecast To 2033
1 Mar, 2024
The cooler box market has experienced rapid growth in recent years, surging 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 is attributed to the increased popularity of outdoor activities, the expanding usage in healthcare and pharmaceuticals for temperature-sensitive items, the rise in outdoor events and festivals, the effects of urbanization promoting convenience, and the growth in food delivery services. Looking ahead, the cooler box market is expected to witness rapid growth, projected to reach $11.64 billion in 2028 at a compound annual growth rate (CAGR) of 12.4%. The growth in the forecast period is driven by the rising demand for portable storage solutions, the continued growth in healthcare and pharmaceutical sectors, the emphasis on sustainable and eco-friendly product offerings, the increasing popularity of outdoor recreation and travel, the effects of urbanization promoting convenience, and the growth in food delivery services. Major trends in the forecast period encompass the increasing demand in the beverage industry, innovations in cooler box design and portability, adherence to regulatory standards and compliance requirements, and the drive for customization and innovation in cooler box offerings.
Global Cooler Box Market Key Driver
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. The cooler box market reached $XX billion in 2023 and is expected to maintain steady growth through 2024 and into 2028.
Get A Free Sample Of The Global Cooler Box Market ReportGlobal Cooler Box Market Segments
The global 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
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.
North America was the largest region in the cooler box market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cooler box market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Cooler Box Industry Players
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.
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Cooler Box 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.
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.