The sales of foam cooler boxes are anticipated to soar at a 6.6% CAGR, hitting USD 1.72 billion in 2023. By 2033, the foam cooler box market is projected to exceed USD 3.26 billion at this compound annual growth rate.
In response to growing consumer demand for practical and environment-friendly flexible packaging, the foam cooler box market has experienced significant growth over the past decade.
The rise of outdoor recreation like camping and picnics has also contributed to the market’s expansion. Great-quality foam cooler boxes are in high demand as a result of high disposable income and the growing trend of private labels.
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The availability of huge sizes in light weights is one further benefit of adopting foam cooler boxes. In light of this, a foam cooler box is more appropriate for discrete handles than an insulated cooler.
A foam cooler box comes in a range of sizes and configurations that are typically not offered by a conventional plastic or metal cooler. Demand is anticipated to increase for foam cooler boxes that can be handled differently.
Since foam cooler boxes are more affordable than metal and plastic coolers, the food sector favors them. Exceptional insulation potentials are supplied by the foam cooler box, which aids in keeping food fresh for a long time. A foam cooler box is also recommended for storing seafood goods.
The market has benefited from the drive toward sustainable development and environmental friendliness. To address the increased demand for sustainable packaging options, manufacturers are putting a great emphasis on developing foam cooler boxes from eco-friendly materials including recyclable and compostable polyurethane.
Owing to the pharmaceutical sector’s increasing application of foam cooler boxes, the United States is the market leader in this niche. Foam cooler boxes used in pharmaceuticals are expanding at a decadent rate in Europe, particularly in nations like Germany. China is likely to be the top producer and user of foam cooler boxes in the Asia Pacific region and is anticipated to have a big market opportunity during the forecast period.
Key Takeaways
- The market in the United Kingdom is anticipated to rise, exhibiting a CAGR of 5.43% through 2033.
- The United States dominated the market in 2022 holding a 21.2% share of the global market.
- In 2022, Japan held a 4.8% market share globally.
- With a CAGR of 10.11% from 2023 to 2033, India is expected to advance significantly in the market.
- The market in China is expected to proliferate, registering a CAGR of 9.01% over the forecast period.
- Germany accounted for 3.7% of the global market in 2022.
Competitive Landscape
Product innovation and differentiation are top priorities for foam cooler box manufacturers. They intend to offer new and improved features such as better insulation. They also attempt to make visually appealing patterns and offer a variety of sizes and colors in order to attract a diverse spectrum of customers.
Key players in the worldwide foam cooler box market are partnering with end customers to meet their advanced temperature-controlled packaging needs while also earning money by renting and leasing foam cooler boxes.
Key Players Operating in the Market
- Igloo Products Corporation
- Cool Ice Box Co Ltd
- Coldchain Technologies, Inc
- Plastilite Corporation
- Pelican Products, Inc.
- MacNeill Pride Group (ORCA)
- Bison Coolers
- RTIC Outdoors LLC
- Koolatron US
- Aohong Industry Co., Ltd.
- Rodman Plastics Company Ltd.
- Carris Pipes & Tubes Pvt. Ltd.
Market Segmentation: Foam Cooler Box Market
By Capacity:
- Up to 25 Quart
- 26-75 Quart
- Above 150 Quart
By Carrying Method:
- Side Handles
- Lid Handles
- Shoulder Strap
By Material type:
- Expanded Polystyrene
- Expanded Polypropylene
By End-use Industry:
- Food & Beverages
- Pharmaceutical
- Cosmetics & Personal Care
By Region:
- North America
- Latin America
- Europe
- The Middle East and Africa
- East Asia
- South Asia
- Oceania
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