The global shoulder strap insulated coolers market is poised to witness significant expansion, with an anticipated market value reaching US$ 735.4 million in 2023 and a projected valuation of US$ 1470 million by 2033, showcasing an impressive Compound Annual Growth Rate (CAGR) of 7.1%. Reflecting a steady growth trend, the Shoulder Strap Insulated Cooler market recorded a 4.9% CAGR in the historical period from 2018 to 2022.
This upward trajectory is fueled by the increasing popularity of outdoor recreational activities such as off-roading and hiking, particularly among avid travelers. The market growth is further driven by advancements in technology that facilitate the manufacturing of lightweight shoulder strap coolers capable of maintaining ice retention for extended durations. As a result, these innovative features are expected to be instrumental in contributing to the robust expansion of the market throughout the forecast period.
Get Exclusive Sample Copy of the Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-12519
Market Growth Factors
The surge in demand for vaccines following the global pandemic continues to be a driving force for the shoulder strap insulated coolers market. These coolers, designed to provide different temperature ranges, play a crucial role in storing thermos-sensitive pharmaceuticals for extended durations, contributing to the heightened demand in the post-pandemic era.
Additionally, factors such as urbanization, industrialization, substantial investments, the rise in outdoor recreational activities, and an increase in beverage consumption collectively exert a positive influence on the market for shoulder strap insulated chillers.
Technological advancements in insulated coolers have prompted consumers to trade in outdated models for modern counterparts, thereby boosting consumer spending and placing a greater emphasis on convenience.
This shift towards advanced insulated coolers is particularly evident in the camping and outdoor activities segment, where increased beverage consumption during outings aligns with the flourishing shoulder strap coolers industry. The confluence of these factors is driving a noteworthy transformation in consumer preferences and market dynamics.
Market Drivers
- Increased Demand for Vaccines and Pharmaceuticals: The post-pandemic era has witnessed a heightened demand for vaccines and thermos-sensitive pharmaceuticals. Shoulder strap insulated coolers, with their ability to maintain different temperature ranges, have become crucial for the safe storage and transportation of these temperature-sensitive medical supplies.
- Urbanization and Industrialization: The ongoing trends of urbanization and industrialization play a significant role in driving the market. As more people reside in urban areas and engage in industrial activities, the need for convenient and portable cooling solutions, such as shoulder strap insulated coolers, rises.
- Rise in Outdoor Recreational Activities: The increasing popularity of outdoor recreational activities, such as camping, hiking, and off-roading, contributes to the growth of the shoulder strap insulated cooler market. Consumers seek portable and efficient cooling solutions to enhance their outdoor experiences.
- Growing Beverage Consumption: There is a notable increase in beverage consumption, especially during outdoor activities. Shoulder strap insulated coolers cater to the need for keeping beverages cold and refreshing, driving their adoption among consumers.
- Technological Advancements: Ongoing advancements in cooler technology, including the development of lightweight and efficient insulated coolers, prompt consumers to upgrade from outdated models. This technological evolution contributes to increased consumer spending on modern and convenient insulated coolers.
Request Report Methodology: https://www.futuremarketinsights.com/request-report-methodology/rep-gb-12519
Key Market Players
- Yeti Coolers, LLC.
- AO Coolers.
- The Coleman Company Inc.
- Pelican Products Inc.
- Outdoor Active Gear
- Igloo Products Corp.
- Grizzly Coolers.
- Bison Coolers.
- Engel
- Artic Zone
Market Segmentation
Material:
- Rack mount
- Portable
End Use:
- Fishing/Marine
- Hunting
- Camping
- School
- Others
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.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
