The Global Ice Chests and Coolers market was valued at USD 1,051.5 million in 2018 and is projected to attain a value of USD 2,137.2 million by the end of the forecast frame in 2026, registering a CAGR of 9.2%. In terms of volume, the market is expected to grow at a CAGR of 9.5%. The growth of Ice Chests and Coolers is accentuated by a variety of factors. Increase in popularity of outdoor recreational activities coupled with lifestyle changes and greater product innovation and portfolio expansion by market leaders are expected to positively impact market growth. However, high costs of technologically superior and longer lasting products might have a detrimental effect on demand from target group of consumers.
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A cooler, or ice chest is an insulated box, usually portable, used to keep food or drink cool during the summers. Plastics are an excellent insulator, which is why portable coolers use it. The real factor in cooler insulation though, has to do with the type of foam used between the cooler walls and how well it is protected from moisture. Water is an excellent way to conduct heat; adding moisture to foam causes a reduction in the cooler’s ability to insulate. Ice cubes are usually placed in coolers to maintain a constant low temperature so that the contents stay cool. Ice packs are sometimes used, as they either contain melting water, or have a gel sealed inside that stays cold longer than plain ice. These gel sealed packs are also used to keep food fresh during transportation.
Top Companies:
Perlick Corporation
Pelican Products Inc
Koolatron
Arctic Zone
Igloo Products Corp.
AO Coolers
Coleman Company Inc.
Yeti Coolers LLC
Tokyo Plast International and Lifetime
Products Inc
others
Salient Trends of the Market
- Outdoor recreation is among the largest economic sectors, in most developed countries and particularly in the U.S. Its increasing popularity has led to an increased demand for ice chests and coolers in the European and North American regions
- Hard coolers and ice chests were the most popular types being sold in the 2018 and they occupied the greatest market share during the same year
- Soft-coolers are expected to register the highest CAGR during the forecast period under the Type segment in the Ice Chests and Coolers industry. They are increasingly being preferred by solo travelers and hikers due to their convenience
- Dry-Camping application of ice chests and coolers is expected to be a significant market driver during the forecast period for Ice Chests and Coolers market
- High prices of technologically advanced products are roadblocks to the growth of this industry, and they have to be dealt very efficiently. Initiatives to mass produce high-tech products would be a key area for competition in the future
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Market Segmentation:
Type
- Hard coolers and ice chests
- Soft coolers
- Others
Application
- Dry Camping
- Backpacking
- Off Road and RV Camping
- Others
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