| Attributes | Details |
|---|---|
| Foam Cooler Box Market Value (2023) | USD 1.72 billion |
| Foam Cooler Box Market Expected Value (2033) | USD 3.26 billion |
| Foam Cooler Box Market Projected CAGR (2023 to 2033) | 6.6% |
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Leading manufacturers of cold chain packaging solutions have observed a rise in demand for refrigeration boxes. This shift in choice is buoyed by the gradual transition of foods & beverages and other industries to cooler boxes made from foam. These novel solutions have found a place in the packaging of fruits & vegetables, meat, seafood, and other perishable food items.
Against this backdrop, Future Market Insights has predicted the market to expand at 6.6% between 2023 and 2033 in comparison with a 4.6% CAGR recorded from 2016 to 2022.
| Year | 2016 to 2022 |
|---|---|
| CAGR | 4.6% |
| Value | USD 1.23 billion (2016) |
| Year | 2016 to 2022 |
|---|---|
| CAGR | 4.6% |
| Value | USD 1.55 billion (2021) |
| Year | 2016 to 2022 |
|---|---|
| CAGR | 4.6% |
| Value | USD 1.65 billion (2022) |
| Year | 2023 to 2033 |
|---|---|
| CAGR | 6.6% |
| Value | USD 1.72 billion (2023) |
| Year | 2023 to 2033 |
|---|---|
| CAGR | 6.6% |
| Value | USD 3.12 billion (2032) |
| Year | 2023 to 2033 |
|---|---|
| CAGR | 6.6% |
| Value | USD 3.26 billion (2033) |
The most important reason behind manufacturers and supply chain partners switching to foam-made cool boxes over traditional steel boxes is the lightweight and durability features offered by the former choice. Besides this, the ability of foam cooler boxes to preserve the quality of consumables stored in them has made them highly sought-after for food and beverage packaging.
Traditional boxes made from wood and steel were only available in a few standard sizes, but foam cooler boxes are available in a wide array of sizes from small to large, to cater to specific industrial requirements and ensure the safe transportation of their goods.
The cost-effectiveness of foam cooler boxes offers cost benefits to end users. It has therefore emerged as a preferred packaging solution used by them for day-to-day storage and transit of their produce.
| Short Term (2023 to 2026) |
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|---|---|
| Medium Term (2026 to 2029) |
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| Long Term (2029 to 2033) |
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These factors are anticipated to support a 1.9Xincrease in the foam cooler box market between 2023 and 2033. The market is projected to be worthUSD 3.26 billionby the end of 2033, according to FMI analysts.
| Market Statistics | Details |
|---|---|
| Jan–Jun (H1), 2021 (A) | 4.5% |
| Jul–Dec (H2), 2022 (A) | 4.3% |
| Jan–Jun (H1),2022 Projected (P) | 4.3% |
| Jan–Jun (H1),2022 Outlook (O) | 4.8% |
| Jul–Dec (H2), 2022 Outlook (O) | 4.8% |
| Jul–Dec (H2), 2022 Projected (P) | 4.5% |
| Jan–Jun (H1), 2023 Projected (P) | 4.9% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | 30 |
| BPS Change : H1,2022 (O) - H1,2021 (A) | 50 |
| BPS Change: H2, 2022 (O) - H2, 2022 (P) | 30 |
| BPS Change: H2, 2022 (O) - H2, 2022 (A) | 50 |
Foam cooler boxes are primarily used in food and pharmaceutical packaging. Both industries are scrutinized by various international organizations to ascertain the quality of products and protect the well-being of consumers.
Research and development (R&D) for instance is a mainstay in the pharmaceutical sector. Drug manufacturers often invest in research initiatives to develop life-saving drugs, vaccines, generic medicines, and novel therapeutics. Pharmaceutical products are temperature-sensitive and require continuous freezing temperatures till they are finally taken into use.
According to guidelines by WHO (World Health Organization), all time and temperature-sensitive pharmaceutical products should be shipped in temperature controlled environment inside an insulated closure, making it mandatory for all pharmaceutical manufacturers, importers, and logistics & storage partners to comply with these laws while transiting of such type of drugs.
Favorable transportation and storage laws implemented by international authorities are encouraging the use of foam cooler boxes mandatory for the transport of temperature-sensitive and related drugs may result in a boost in sales of foam cooler boxes across the globe.
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Small and medium-sized companies are looking for a logistics service provider offering storage, shipping, and last-mile delivery of their products at cost-effective prices. End-users are ready to pay rent convenience charges to supply chain partners and service providers to save the cost of foam cooler boxes.
Key manufacturers are collaborating with shipping & logistics companies to provide rental services to the end-user industries. These rental services of foam cooler boxes are generating additional revenues for the logistics partner and manufacturers, along with the circulation of their foam cooler boxes in the market. Thus, service providers and rental service providers are gaining market acceptance within the global foam cooler box market to transport pharmaceuticals, food & beverages, and a variety of other temperature-controlled goods across the regions.
| Countries | Market Value (2022) |
|---|---|
| United States | USD 350.8 million |
| China | USD 112.4 million |
| India | USD 83.3 million |
| Japan | USD 80.0 million |
| Germany | USD 61.3 million |
| United Kingdom | USD 50.1 million |
The United States foam cooler box market is a highly competitive and dynamic market that continues to grow. In 2022, the United States dominated the market by acquiring a whopping 21.2% share of the global market. The country is anticipated to maintain its dominance with the increasing demand for convenient and efficient ways to keep food and beverages cold during outdoor activities and travel. Additionally, the rise of eco-conscious consumers has led to a growing preference for reusable and durable foam cooler boxes over single-use plastic containers.
Several key market players like Yeti Coolers, LLC. Igloo Products Corporation and The Coleman Company, Inc. are based in the United States. These brands offer a wide range of products from small and portable coolers to large and heavy-duty options for extended trips. In recent years, there has been a trend towards premiumization in the foam cooler box industry in the United States with consumers willing to pay more for high-end features such as improved insulation, superior durability, and unique designs.
E-commerce has played a significant role in the growth of the foam cooler box industry in the United States. Individuals in the country prefer to buy from online platforms as it is convenient to purchase these products. Online retailers such as Amazon and Walmart offer a wide collection of foam cooler boxes as well as competitive pricing and fast shipping options.
The increasing use of social media in this country has created a platform for companies to showcase their products and reach a wider audience. Additionally, the presence of the world’s leading pharmaceutical companies and government initiatives supporting the export and import of vaccines and pharmaceutical supplies globally may drive the sales of foam cooler boxes in the country.
The foam cooler box industry in China has seen significant growth lately owing to increasing demand for superior cooling solutions, especially in the food and beverage industry. The country is one of the leading producers of foam cooler boxes in the world with an extensive supply chain and well-established production facilities.
One of the key trends in China's foam cooler box market is the growing demand for eco-friendly products. In response to this trend, many companies have started to produce foam cooler boxes made from recycled plastics and biodegradable materials.
Another trend in China market is the rise of e-commerce platforms. Online retail sales have increased significantly in the country recently and this trend is expected to continue. As a result, several manufacturers are now offering their foam cooler boxes for sale through e-commerce platforms in addition to their traditional brick-and-mortar stores.
The easy availability of necessary raw materials required for manufacturing foam cooler boxes and cheap labor is creating growth opportunities for key players. Technological advancements in the packaging industry and the expansion of production capacities are expected to make China an undisputed regional market leader.
The growing population and the increasing popularity of outdoor activities are certain important drivers of the market. As more people look to spend time in nature, they require effective and durable cooling solutions to keep their food and drinks cold. Foam cooler boxes are becoming increasingly popular among outdoor enthusiasts as they are highly efficient, lightweight, and easy to transport. Therefore, the market in China is expected to exhibita 9.01% CAGR during the forecast period, surpassing USD 244.2 million by 2033.
Indiafoam cooler box market has been growing due to the increasing demand for thermal insulation in food packaging and transportation. On the other hand, the growth of e-commerce and the rising trend of home delivery of food has boosted the demand for foam cooler boxes in India. The increasing urbanization, rising disposable income, and growth of the hospitality industry have also driven the demand for foam cooler boxes in the country.
According to the Ministry of Health & Family Welfare, the storage and transportation of any type of pharmaceutical drugs & vaccines must take place in environmentally controlled packaging as described on the packaging information of the particular product.
The establishment of the National Centre for Cold Chain Development by the Government of India to provide financial assistance to domestic institutions and entrepreneurs for setting up cold chain packaging mechanisms in the country to reduce food wastage in the country is also supporting market growth.
Favorable government schemes and the expansion of the cold chain packaging industry and related sectors in the country are anticipated to make India one of the significantly growing markets over the forecast period.
The market in India, however, is facing certain challenges such as the increasing prices of raw materials and the growing competition from alternative products such as vacuum-insulated containers and refrigerated trucks. To overcome these challenges, manufacturers in India focus on providing innovative and high-quality products to customers. The market in India is projected to develop at10.11%CAGR during the forecast period, reaching USD 198.2 million by 2033.
As per FMI, the Japan foam cooler box market accounted for 4.8%of the global market in 2022. The market in Japan is growing since the country is renowned for its adoption of high-quality and high-end products. Consumer trends in Japan include a focus on sustainability, convenience, and stylish design. Market competition is intense with new players entering the market regularly. To stay ahead, companies are constantly improving product quality and offering unique features such as specialized compartments for drinks or enhanced insulation technology. Overall, the foam cooler box industry in Japan is expected to see continued growth in the coming years.
In 2022, the German foam cooler box market recorded a 3.7% share of the global market. At present, the market in Germany is a competitive space with multiple established brands offering a different variety of products. The demand for foam cooler boxes in Germany is primarily driven by the country’s thriving outdoor recreation and camping culture. German consumers valued foam cooler boxes for their ability to keep food and drink cold for an extended period. Additionally, foam cooler boxes are also popular as promotional products and gifts in the country with companies using them to build brand awareness and customer loyalty.
According to the European Commission, as a part of validated temperature-controlled systems, proper transport conditions are maintained between manufacturer and customer for medicinal drugs and temperature-sensitive goods to eliminate the risk of wastage.
The ease in restrictions provided for the smooth distribution of vaccines and other medical supplies by the government is expected to make Germany the prime foam cooler box market. The high presence of key players and ongoing development activities for innovative foam cooler box products are likely to aid the market growth. Besides this, surging needs among industrial as well as household customers for temperature-controlled products may boost sales.
The United Kingdom foam cooler box market has seen steady growth. The market in the United Kingdom is expected to surpass USD 80.7 million by 2033, exhibiting a CAGR of 5.43%. The fast-paced expansion of the food & beverages industry and surging consumption of packaged frozen products have compelled packaging manufacturers to opt for foam cooler boxes. Also, the adoption of perishable goods and the need to provide temperature-controlled packaging for the storage and transit of certain products are likely to drive sales in the market.
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| Segment | Capacity |
|---|---|
| Attributes | Above 150 Quart |
| Details (Market Share in 2022) | 42.5% |
| Segment | Layer Structure |
|---|---|
| Attributes | Carrying Method |
| Details (Market Share in 2022) | 42.7% |
In terms of capacity, foam cooler boxes having a capacity of above 150 Quart are the most preferred temperature-controlled packaging product by industrial and institutional end-users.
Foam cooler boxes with a capacity above 150 quarts are preferred because they can hold more food and drinks. This makes them ideal for large outdoor events, camping trips, and extended stays in remote areas. These coolers also have better insulation and can keep ice frozen for several days. Therefore, these cooler boxes are practical for extended use. Additionally, their large size makes them suitable for storing multiple items.
Growth in the segment is due to cost benefits achieved on transportation and storage by using large-size foam cooler boxes. Also, key players in the pharmaceutical and food & beverages industries are likely to choose large temperature-controlled containers instead of small and medium-sized ones. Hence, 42 out of every 100 cooler boxes sold across the globe have a capacity of above 150 Quarts.
Based on the carrying method, the side handles segment is anticipated to dominate the market during the assessment period. The side handle foam cooler boxes are popular over other handle types owing to the following factors:
End-use industries such as food & beverages, pharmaceuticals, and household end users find it more convenient for carrying foam cooler boxes. Manufacturers producing foam cooler boxes with side handles do not need to incur extra costs in adding wheels or straps to the container, hence cost-effectiveness is a key factor driving the segment growth. Increasing profitability and high demand in various industries are encouraging manufacturers to produce more foam cooler boxes installed with side handles.
In 2033, the polyurethane segment is projected to hold a significant market share in the global market. As polyurethane material is recyclable and is clinically tested and declared safe having no harmful contaminations, end-users prefer polyurethane material for the storage of food & beverage products.
Continuous development of lifesaving drugs, generic drugs, vaccines, and other essential supplies within the pharmaceutical sector requires temperature-controlled products for safe transit. Hence, pharmaceutical companies prefer foam cooler boxes for the proper transportation of vaccines and drugs.
To cater to the advanced packaging needs of the pharmaceutical industry, manufacturers are introducing disposable type and reusable foam cooler boxes to offer maximum protection to high-value and essential medicinal drugs across the globe. These strict international trade regulations and increased adoption of foam cooler boxes are expected to bolster segment growth.
Start-ups in the foam cooler box industry are focusing on durability, insulation, and sustainability. They use materials like roto-molded plastic and high-density foam for stronger coolers, improve insulation for long-lasting colds and reduce environmental impact with eco-friendly options. The main objective of the start-ups is to provide better options for outdoor enthusiasts.
Leading Startups to Follow
Vericool – United States
Vericool focuses on sustainable and eco-friendly packaging solutions for the food and beverage industry. This start-up offers a line of molded pulp foam cooler boxes that are made from recycled paper and are fully biodegradable. Vericool’s products are designed to provide an alternative to traditional coolers which can have a negative impact on the environment due to their non-biodegradable nature.
ORCA Coolers – United States
This start-up specializes in the production of high-quality and roto-molded coolers. Its coolers are made with insulating foam and are available in different sizes and colors. The company offers a range of features, including tie-down points, built-in cup holders, and a lifetime warranty. Their coolers are designed for use in several settings, such as camping and fishing.
Manufacturers in the foam cooler box market are focused on product innovation and differentiation. They aim to provide new and improved features like enhanced insulation. They also strive to create visually appealing designs and offer different sizes and colors to attract a wide range of customers. Key players operating in the global foam cooler box market are collaborating with end users to cater to their advanced temperature-controlled packaging needs and generating additional revenue through renting and leasing foam cooler boxes.
Recent Developments
YETI Coolers LLC.
YETI Coolers LLC. was established in 2006 with the straightforward goal of creating a cooler that individuals may use every day. Outdoor goods including hard and soft coolers, vacuum-insulated stainless steel drinkware, ice chests, and related accessories are YETI's specialty.
In July 2022, two new coolers, the Roadie 48 and Roadie 60, were released by Yeti Coolers, LLC. These are Yeti's supreme maneuverable hard coolers to date. As opposed to the non-extendable, wagon-style handle of the Haul, these coolers have telescopic trolley handles that more strongly match a wheeled carry-on bag.
Sonoco ThermoSafe
Sonoco ThermoSafe, a division of Sonoco, reduces the risk for its clients and guarantees product effectiveness at both ends of the supply chain. It offers a broad range of products employing cutting-edge technology for applications requiring refrigeration, freezing, or regulated room temperature. For the efficient and safe transportation of medicines, biologics, vaccines, and other temperature-sensitive goods, it is a market leader in temperature assurance packaging. Even under challenging circumstances, the supply chain is designed to guarantee product safety at all times.
Coleman Company, Inc.
The Coleman Company, Inc. is a Newell Brands-owned American manufacturer of outdoor leisure equipment, particularly camping gear. Outdoor leisure items are designed, produced, and sold by The Coleman Company, Inc. The business offers clothing, air mattresses, sleeping bags, backpacks, camp kitchens, stoves, screen houses, coolers, fireplaces, hot water systems, furniture, grills, outerwear, lanterns, tents, and rain gear. Coleman sells its products all around the world.
In August 2021, to encourage people to spend more time outside and make the outdoors more friendly and inclusive, The Coleman Company, Inc. and the outbound collective established a collaboration with complementary goals. The partnership is likely to support Coleman's efforts to highlight and honors the tales of individuals, passions, and purposes in the outdoor world.
Cold Chain Technologies
The creation and supply of affordable insulated thermal packaging solutions that preserve the integrity of temperature-sensitive goods are the specialties of Cold Chain Technologies (CCT), a company with ISO 9001:2015 certification. With more than 50 years of expertise in the cold chain, the firm is familiar with its applications, needs, and extremes.
In May 2021, Cold Chain Technologies collaborated with ASHP Foundation as a Gold Corporate Partner for providing medication safety solutions for the optimal safety of medical drugs & supplies.
The market is estimated to rise at a 6.6% CAGR through 2033.
The market rose at a 4.6% CAGR from 2018 to 2022.
Growing preference for sustainable and eco-friendly products propels the market growth.
The market is estimated to be worth USD 1.72 billion in 2023.
By 2033, the market is estimated to reach USD 3.26 billion.
1. Executive Summary | Foam Cooler Box Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Capacity 5.1. Up to 25 Quart 5.2. 26 to 75 Quart 5.3. 76 to 150 Quart 5.4. Above 150 Quart 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Carrying Method 6.1. Side Handles 6.2. Lid Handles 6.3. Shoulder Strap 6.4. Wheel 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material 7.1. Expanded Polystyrene 7.2. Expanded Polypropylene 7.3. Polyurethane 7.4. Closed-cell Polyethylene 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use Industry 8.1. Food & Beverages 8.2. Pharmaceutical 8.3. Cosmetics & Personal Care 8.4. Chemical 8.5. Others 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Europe 9.4. Asia Pacific 9.5. MEA 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Yeti Coolers LLC 17.2. Igloo Products Corp. 17.3. The Coleman Company, Inc. 17.4. Sonoco ThermoSafe 17.5. The Cool Ice Box Company 17.6. Cold Chain Technologies, LLC 17.7. Plastilite Corporation 17.8. Pelican Products, Inc. 17.9. Bison Coolers 17.10. RTIC Outdoors LLC 18. Assumptions & Acronyms Used 19. Research Methodology
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Foam Cooler Box Market
