Introduction
In a world that’s always on the move, having a reliable cooler can be a game-changer. Whether you’re heading to the beach, a picnic, or a camping trip, insulated coolers are the unsung heroes that keep your drinks and snacks cool and refreshing. In this comprehensive guide, we’ll delve into the Insulated Coolers Market, showcasing the latest trends and innovations that cater to your cooling needs.
The Insulated Coolers Market Landscape
Innovations in Cooling Technology
In the fast-evolving world of coolers, manufacturers are constantly pushing the envelope to provide better insulation and longer cooling times. From advanced materials to innovative designs, these coolers are far from your run-of-the-mill ice chests.
The insulated coolers market is expected to experience substantial growth, with a projected compound annual growth rate (CAGR) of 6.6% between 2023 and 2033, ultimately reaching an estimated market value of approximately US$ 1,400 million by 2033.
As per analysis by FMI, the United States is poised to dominate the North American market in terms of sales until 2033, with a projected Compound Annual Growth Rate (CAGR) of 6.4% throughout the analysis period.
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Key Takeaways – Insulated Coolers Market Study
- Increasing preference for outdoor and sports activities such as camping, fishing, and hiking are expected boost demand for insulated coolers in the U.S.
- Hard coolers remain the most preferred insulated coolers, attributable to better durability and high ice retention ability as compared to soft coolers.
- Globally, 26-75 quart insulated coolers are estimated to be high selling among all insulated coolers in terms of capacity in 2019. Customers opt for 26-75 quart insulated coolers, as result of easy outdoor handling and conveying and adequate storage capacity.
The Major Key Players-
- 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
Recent Developments:
- In 2023, Rubbermaid announced the launch of its new line of insulated coolers that are designed to be more water-resistant. The new coolers can withstand exposure to water, making them a more suitable option for applications in wet environments.
- In 2023, Coleman nnounced the launch of its new line of insulated coolers that are designed to be more high-performance. The new coolers are designed to meet the demanding requirements of a variety of applications, including camping, fishing, and tailgating.
- In 2022, RTIC Coolers announced the launch of its new line of insulated coolers that are designed to be more cost-effective. The new coolers are made from a lower-cost material that is still effective in a variety of applications.
Factors Driving the Growth of the Insulated Coolers Market
- Increase in outdoor activities As more people engage in outdoor recreational activities, the demand for insulated coolers has soared. From camping and hiking to sports events and picnics, these coolers enhance the overall experience.
- Rising demand for long-lasting cooling solutions Consumers are seeking durable cooling options that can retain temperature for extended periods, especially during outdoor adventures where access to refrigeration is limited.
- Growing interest in eco-friendly and sustainable products The market is witnessing an upsurge in eco-conscious consumers who prefer insulated coolers made from biodegradable and recyclable materials, contributing to a greener environment.
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Insulated Coolers Market by Category
By Capacity:
- Upto 25 Quart
- 26-75 Quart
- 76-150 Quart
- Above 150 Quart
By Product type:
- Hard Coolers
- Soft Coolers
By Carrying capacity:
- Side Handles
- Lid Handle
- Shoulder Strap
- Wheel
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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