by The global Foam Cooler Box Market is estimated to be valued at US$ 2.93 Bn in 2023 and is expected to exhibit a CAGR of 8.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Foam cooler boxes are portable cooling containers made of expanded polystyrene foam which helps maintain the temperature of food and beverages for a longer duration. They provide effective thermal insulation and are lightweight, durable and affordable compared to traditional cooler boxes, making them ideal for camping, picnics, outdoor sports and travel.
Market key trends:
One of the key trends driving the growth of the foam cooler box market is increasing demand from the food delivery and online food ordering industry. Foam cooler boxes are increasingly being used for safe delivery of hot and chilled food products ordered online. They help maintain the right temperature during transit and prevent spoilage. AI and cloud computing technologies are enabling foam cooler box manufacturers to integrate smart sensors and integrate connectivity options, allowing consumers to remotely monitor the temperature inside foam cooler boxes using mobile apps. This is expected to further fuel the adoption of technologically advanced foam cooler boxes.
Segment Analysis
The Global Foam Cooler Box Market is dominated by the less than 25 litres and 25-50 litres capacity segments. The less than 25 litres segment accounts for around 40% of the total market share owing to the high demand for compact and convenient personal cooler boxes for day trips, commuting and picnic activities. The 25-50 litres segment captures around 30% share as these boxes provide enough storage space for family outings and medium duration trips without being too bulky.
Key Takeaways
The global foam cooler box market is expected to witness high growth, exhibiting CAGR of 8.6% over the forecast period, due to increasing outdoor recreational activities and Adventures travel.
Regional analysis
North America dominated the foam cooler box market in 2022, accounting for around 35% of the global demand. The US and Canada witnessed high usage of foam coolers for various outdoor activities like camping, fishing, hunting etc. The Asia Pacific region is projected to be the fastest growing market over the forecast period supported by increasing middle class population and their rising disposable income in countries like China and India.
Key players
Key players operating in the foam cooler box market are YETI, Igloo, Coleman, Rubbermaid, Grizzly, Engel, Bison Coolers, ORCA, Pelican, Polar Bear Coolers, AO Coolers, Kula Coolers, IceMule, RTIC, Canyon Coolers, OtterBox, Kysek, Magellan Outdoors, Everest, Stanley. YETI and Coleman captured around 25% of global market share due to their strong brand presence and product portfolio across different price ranges.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
