The global insulated coolers market size is expected to be valued at USD 745.1 million in 2023. Government support for outdoor activities bolsters the overall scope for the insulated coolers market, which is projected to grow at a CAGR of 6.6% between 2023 and 2033, totaling around USD 1,400 million by 2033.
| Data Points | Key Statistics |
|---|---|
| Insulated Coolers Market Value 2023 | USD 745.1 million |
| Insulated Coolers Market Projected Value (2033) | USD 1,400 million |
| Insulated Coolers Market CAGR (2023 to 2033) | 6.6% |
The expansion of e-commerce and food delivery services has brought about a significant shift in consumer behavior and purchasing patterns, leading to a growing need for insulated coolers to address the unique challenges posed by transporting perishable goods.
Consumers are increasingly turning to online platforms to shop for groceries, prepared meals, and other perishable items. The convenience of having goods delivered directly to their doorstep eliminates the need for physical store visits and saves valuable time. Insulated coolers ensure that the delivered products remain at the appropriate temperature, maintaining their quality and freshness.
Maintaining food safety and quality is of paramount importance in the food industry. Insulated coolers offer a reliable solution to preserve the taste, texture, and nutritional value of perishable items during transportation. The ability to control temperature fluctuations helps prevent spoilage and foodborne illnesses, enhancing customer satisfaction and trust.
E-commerce and food delivery services encompass a wide range of perishable goods, including fresh produce, dairy products, seafood, meats, and ready-to-eat meals. Insulated coolers come in various sizes and designs to accommodate different types of products and ensure their optimal condition upon arrival.
Delivery times for e-commerce and food delivery services can vary, especially during peak demand periods. Insulated coolers equipped with advanced insulation materials and technologies help maintain consistent temperatures over extended delivery windows, allowing customers to receive their orders in prime condition.
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The global demand for insulated coolers increased at a CAGR of 3.0% during the forecast period between 2018 and 2022, reaching a total of USD 1.4 billion in 2033.
According to Future Market Insights, a market research and competitive intelligence provider, the insulated coolers market was valued at USD 699.0 million in 2022.
The rise of the food and beverage industry, particularly in the ready-to-eat and packaged food sectors, has created a significant demand for effective and reliable packaging solutions to ensure the freshness, safety, and quality of products throughout their journey from production to consumption. Insulated coolers, with their advanced insulation properties and temperature control capabilities, have emerged as a vital component in meeting the stringent requirements of this dynamic and rapidly growing industry.
Ready-to-eat and packaged food products rely on their freshness and flavor to meet consumer expectations. Insulated coolers create a controlled environment that prevents temperature fluctuations, maintaining the optimal conditions necessary to preserve the taste, texture, and overall quality of perishable foods. The preservation is particularly crucial for items that are sensitive to temperature changes, such as dairy, meats, fruits, and prepared meals.
Insulated coolers help extend the shelf life of perishable food and beverage products by minimizing exposure to unfavorable conditions. The enhanced temperature control provided by these coolers inhibits the growth of microorganisms and bacteria, thus reducing spoilage and the need for additives or preservatives.
The food and beverage industry requires a complex supply chain to ensure that products reach consumers in a timely and satisfactory manner. Insulated coolers maintain consistent temperatures during storage and transportation, enabling producers, distributors, and retailers to manage inventory and logistics more effectively. The efficiency contributes to reduced food wastage and operational costs.
Expansion of eCommerce and Food Delivery Services is Likely to be Beneficial for Market Growth
The expansion of e-commerce and food delivery services has brought about a significant shift in consumer behavior and purchasing patterns, leading to a growing need for insulated coolers to address the unique challenges posed by transporting perishable goods.
Consumers are increasingly turning to online platforms to shop for groceries, prepared meals, and other perishable items. The convenience of having goods delivered directly to their doorstep eliminates the need for physical store visits and saves valuable time. Insulated coolers ensure that the delivered products remain at the appropriate temperature, maintaining their quality and freshness.
Maintaining food safety and quality is of paramount importance in the food industry. Insulated coolers offer a reliable solution to preserve the taste, texture, and nutritional value of perishable items during transportation. The ability to control temperature fluctuations helps prevent spoilage and foodborne illnesses, enhancing customer satisfaction and trust.
E-commerce and food delivery services encompass a wide range of perishable goods, including fresh produce, dairy products, seafood, meats, and ready-to-eat meals. Insulated coolers come in various sizes and designs to accommodate different types of products and ensure their optimal condition upon arrival.
Growing Trends of Eco-Friendly Packaging to Fuel the Market Growth
The growing trend of eco-friendly packaging is reshaping the consumer landscape and redefining industry standards. Consumers are becoming increasingly conscious of the environmental impact of their choices, and as a result, there is a significant shift towards products that are not only functional but also sustainable. Insulated coolers, which play a vital role in preserving the freshness of food and beverages, have responded to this trend by embracing eco-friendly practices and materials.
Eco-friendly insulated coolers aim to reduce the reliance on single-use plastics, which are detrimental to the environment due to their non-biodegradable nature and potential to contribute to plastic pollution. Manufacturers are increasingly opting for recycled and biodegradable materials in cooler construction, minimizing plastic waste and offering a more sustainable alternative.
Insulated cooler manufacturers are incorporating recycled materials, such as recycled PET (rPET) or other post-consumer plastics, into their products. Utilizing recycled materials helps divert plastic waste from landfills and reduces the demand for new raw materials, thereby conserving natural resources and energy.
Eco-friendly insulated coolers are designed with durability and longevity in mind. The coolers can withstand frequent use and repeated cleaning, by prioritizing sturdy construction and materials, reducing the need for frequent replacements and contributing to waste reduction.
The 26-75 Quart segment is expected to hold a market share of 33% in 2022. Customers are preferring 26-75 quart insulated coolers, because of their adequate storage capacity and easy outdoor handling and conveying. The segment is expected to accelerate with a CAGR of 7.4% during the forecast period.
Based on the product type, the hard coolers segment holds the largest share of the market. The segment is estimated to register a CAGR of nearly 6.8% over the analysis period. Hard coolers are more durable, and stronger and keep the items cooler for a longer period of time than soft coolers. They are lighter, portable, and available in various sizes. All these factors are anticipated to augment the demand for hard coolers in the global insulated coolers market.
According to FMI analysis, the United States is anticipated to hold the majority of North American sales till 2033. The country is expected to hold a CAGR of 6.4% over the analysis period.
The insulated coolers are extremely cost-effective and reusable reducing the carbon footprint, as no need to purchase one-time-use plastic bags. The growing demand for quick-service restaurants, food service retail chains, and the e-commerce industry is expected to dominate the insulated cooler packaging market due to safe, secure food delivery.
The consumer’s inclination towards protected, temperature-controlled food packaging and the growing demand for fast, convenient, and reliable food delivery will bolster the demand for insulated coolers. The elevating outdoor sports activities, camping, hiking, picnics, and outings and the growing trend of sustainable food packaging are expected to upsurge the demand for insulated coolers in the United States.
The insulated coolers market is anticipated to grow at a 6.5% CAGR over the forecast period in India. According to the Indian Brand Equity Foundation, India is the largest generic drugs provider globally and India’s domestic pharmaceutical market is anticipated to grow 3x in the next decade.
The emphasis on keeping the medicines at a controlled temperature away from sunlight and moisture which will negatively affect the drugs will enhance thermal insulated coolers packaging. The e-commerce giants are now opting for thermally insulated coolers as the most effective packaging solutions, with the growing adaptations of switching to online pharmacy ordering and deliveries.
The escalating consumer preference for safe and reliable consumption of pharmaceutical products due to the risk of contamination and deterioration during transit will enhance the market demand. Increasing investments in cold chain transportation for vaccines, insulin, and other fragile drugs which require specific care during storage and transportation drive the growth of the insulated coolers market in India.
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Key players in the insulated coolers market are strongly focusing on profit generation from their existing product portfolios along while exploring potential new applications. The players are emphasizing on increasing their insulated coolers production capacities, to cater to the demand from numerous end use industries. Prominent players are also pushing for geographical expansion to decrease the dependency on imported insulated coolers.
Recent Developments:
| Attributes | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD million for Value |
| Report Coverage | Market Forecast, brand share analysis, competition intelligence, DROT analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
| Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia & Pacific; East Asia; Middle East & Africa |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, Poland, Russia, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC Countries, South Africa, Israel |
| Key Segments Covered | Capacity, Product Type, Carrying Capacity, Region |
| Key Companies Profiled | YETI Coolers LLC; Igloo Products Corp.; The Coleman Company, Inc.; Pelican Products, Inc.; RTIC Outdoors LLC; ORCA; Bison Coolers LLC; Otter Products llc; Koolatron Corp; COLD & CO; AO Coolers; Stanley a brand of PMI; K2 Coolers; Engel Coolers; Grizzly Coolers LLC |
| Customization & Pricing | Available upon Request |
The insulated coolers market is expected to record a CAGR of 6.6% from 2023 to 2033.
The market is estimated to reach USD 1,400 million by 2033.
E-commerce and food delivery service may drive the market expansion.
The market is estimated to secure a valuation of USD 745.1 million in 2023.
India, Japan, and China dominate the Asian market.
| Estimated Size, 2024 | USD 13,865 million |
|---|---|
| Projected Size, 2034 | USD 28,137 million |
| Value-based CAGR (2024 to 2034) | 7.3% |
| Expected Market Value in 2024 | USD 4.8 billion |
|---|---|
| Projected Forecast Value in 2034 | USD 7.7 billion |
| Anticipated CAGR (2024 to 2034) | 4.8% |
| Market Value (2023) | USD 3,717 million |
|---|---|
| Market CAGR (2023 to 2033) | 5.6% |
| Market Share (2033) | USD 6,409.7 million |
| Market Estimated Size (2023E) | USD 26.1 billion |
|---|---|
| Projected Market Valuation (2033F) | USD 103.7 billion |
| Value-based CAGR (2023 to 2033) | 14.8% |
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