Richmond, March 04, 2024 (GLOBE NEWSWIRE) -- According to a research report "Foam Cooler Box Market”, by Material Type (Polystyrene, Polypropylene and Others), Capacity (<50L, 50–100L, >100L), Type of cool box (12 Volt and 24 volt), Distribution Channel (Hypermarkets and Supermarkets, Conventional Store, Online, Subscription Model, Others) and Region - Global Forecast to 2030.
Global Foam Cooler Box Market Report Scope:
| Report | Details |
| Market size value in 2023 | USD 2.3 Billion |
| Market size value in 2030 | USD 3.8 Billion |
| CAGR (2023-2030) | 7.6% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Material Type, Capacity, End User and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on Foam Cooler Box Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
The Foam Cooler Box market is currently experiencing significant growth, largely attributed to various factors influencing consumer behavior and market dynamics. The expansion of e-commerce, coupled with the rising trend of home food delivery, has emerged as a key driver for the increased demand in this sector. Consumers are increasingly relying on the convenience of online shopping and doorstep delivery of perishable goods, which has spurred the need for reliable and efficient packaging solutions like foam cooler boxes. Also, the growing awareness of the importance of temperature-sensitive product preservation, particularly in the food and pharmaceutical industries, has contributed to the surge in demand for foam cooler boxes. These containers provide insulation and temperature control, ensuring that products, especially those sensitive to temperature variations, remain fresh and safe during transit. In addition to conventional foam cooler boxes, the market has witnessed a shift towards high-end solutions with advanced features. Smart and connected insulated packaging solutions, equipped with features such as built-in refrigeration and Bluetooth connectivity, have gained traction. Consumers are increasingly valuing these innovative features for enhanced convenience and real-time monitoring of temperature-sensitive shipments.
The market overview indicates a positive trajectory, with the Foam Cooler Box sector evolving to meet the changing demands of consumers and industries alike. The continued growth of e-commerce, coupled with the increasing emphasis on efficient and reliable packaging solutions, positions foam cooler boxes as essential components in the supply chain, contributing to the overall expansion of the market.
Major vendors in the global Foam Cooler Box market:
- Aohong Industry Co., Ltd.
- Bison Coolers
- Blowkings
- Carris Pipes & Tubes Pvt. Ltd.
- Coldchain Technologies, Inc.
- Cool Ice Box Co Ltd
- Csafe Global
- Igloo Products Corporation
- Koolatron US
- Pelican Products, Inc.
- Plastilite Corporation
- Rodman Plastics Company Ltd
- RTIC Outdoors LLC
- Sonoco Thermosafe
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Increasing need for products requiring specific temperature conditions, such as food and pharmaceuticals
The rising demand for products necessitating precise temperature control, in the realms of food and pharmaceuticals, has become a prominent driver in the Foam Cooler Box market. With an increasing emphasis on quality and safety, industries handling perishable items recognize the critical importance of maintaining specific temperature conditions during transportation. In the food sector, freshness and hygiene are paramount, prompting the need for reliable insulated packaging solutions to ensure that products reach consumers in optimal condition. Similarly, the pharmaceutical industry relies on strict temperature controls to safeguard the efficacy and safety of medications.
This growing need has propelled the Foam Cooler Box market into an era of significant expansion. Foam cooler boxes have emerged as indispensable tools in preserving the integrity of temperature-sensitive goods, offering efficient insulation to mitigate temperature fluctuations during transit. As industries align with the evolving landscape of e-commerce and home deliveries, the demand for foam cooler boxes continues to surge. The market responds not only to traditional requirements but also adapts to advanced features, such as smart and connected solutions, aligning with the broader trend of innovation in packaging for enhanced efficiency and real-time monitoring capabilities. The Foam Cooler Box market is intricately linked to the evolving demands of industries and consumers seeking reliable solutions for the transportation of temperature-sensitive products.
Market Dynamics
Drivers:
- Increasing need for products requiring specific temperature conditions, such as food and pharmaceuticals
- Growing interest in outdoor pursuits such as camping and picnicking
- Rising awareness regarding the freshness and safety of food and beverages
- Rising interest in the hobby of fishing and the expansion of marine tourism
Opportunities:
- Increasing adoption of intelligent and connected insulated packaging solutions
- Increasing popularity of premium foam cooler boxes with advanced features like built-in refrigeration and Bluetooth connectivity
- Increasing inclination towards portable and lightweight insulated coolers for convenient transportation
- Expansion of e-commerce and the increasing trend of home food delivery
Increasing inclination towards portable and lightweight insulated coolers for convenient transportation
The Foam Cooler Box market is driven by the escalating preference for portable and lightweight insulated coolers, emblematic of the evolving consumer demand for convenience in transportation. As lifestyles become more dynamic, individuals seek practical solutions for preserving the freshness of temperature-sensitive items, leading to an increased inclination towards cooler boxes that are not only efficient in insulation but also easy to carry. This trend is particularly evident in outdoor activities such as camping, picnicking, and other recreational pursuits where individuals prioritize mobility without compromising on the need to keep food and beverages at the desired temperature. The market response to this shift is evident in the development and promotion of foam cooler boxes designed with portability and weight considerations in mind. Manufacturers are innovating to create solutions that are not only effective in temperature control but are also user-friendly in terms of size and weight. These portable cooler boxes cater to a diverse range of consumers, from outdoor enthusiasts to everyday users looking for a hassle-free means of transporting perishable goods. The Foam Cooler Box market is experiencing growth as it aligns with the evolving preferences of consumers who value both functionality and convenience in their insulated packaging solutions.
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North America dominates the market for Foam cooler box.
North America stands out as the dominating region in the global Foam Cooler Box market, with the United States leading in consumption and market share. The growing trend of engaging in outdoor activities, including camping and picnics, is a key factor propelling the expansion of the foam cooler box market in North America. The U.S. market particularly benefits from the nation is expected to uphold its leadership position as the demand rises for convenient and effective methods to keep food and beverages cool during outdoor activities and travel.
Asia-Pacific, and specifically India, is emerging as a key player with substantial growth potential in the Foam Cooler Box market. The market is experiencing growth due to the expanding population and increased disposable income in the region. Additionally, the rising demand for foam cooler boxes in countries like China, India, and Japan is playing a significant role in driving market growth. The convenience factor aligns well with the fast-paced urban life in countries like India, making foam cooler box’s increasingly popular. Additionally, government initiatives promoting the foam processing sector and improvements in distribution channels contribute to the market's growth.
Another noteworthy region is the Middle East and Africa, the presence of globally renowned pharmaceutical companies and governmental initiatives endorsing the global export and import of vaccines and pharmaceutical supplies may serve as a catalyst for the increased sales of foam cooler boxes in the country. South Africa, in particular, showcases promise as a market with high growth potential, driven by urbanization and a growing awareness of convenient foam options.
The Polystyrene Segments is anticipated to hold the Largest Market Share during the Forecast Period
The Polystyrene Foam Cooler Box market is experiencing substantial growth, propelled by a confluence of factors that underscore its role in preserving temperature-sensitive goods during transportation. The escalating demand for these cooler boxes is driven by the increasing reliance on e-commerce and the burgeoning need for efficient cold chain logistics. With a surge in online shopping and home deliveries, consumers and businesses alike are seeking reliable solutions to ensure the safe transport of perishable items such as food and pharmaceuticals. Additionally, the market is witnessing a trend towards innovation, with manufacturers focusing on incorporating advanced features like smart temperature control and connectivity. These enhancements cater to the evolving requirements of industries where precision in temperature management is paramount, such as pharmaceuticals. Moreover, the Polystyrene Foam Cooler Box market is buoyed by its versatility and cost-effectiveness. The lightweight and insulating properties of polystyrene foam make it an ideal choice for temperature-sensitive shipments, contributing to the market's growth. As the global demand for secure and temperature-controlled transportation solutions continues to rise, the Polystyrene Foam Cooler Box market is poised for further expansion, emphasizing its crucial role in supporting the evolving logistics landscape and the increasing expectations for the safe and efficient delivery of temperature-sensitive products.
Segmentations Analysis of Foam Cooler Box Market: -
- By Material Type
- Polystyrene
- Polypropylene
- Others
- By Capacity
- <50L
- 50–100L
- >100L
- By type of cool box
- 12 Volt
- 24 Volt
- By Distribution Channel
- Hypermarkets and Supermarkets
- Conventional Store
- Online
- Subscription Model
- Others
- By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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