According to the current analysis of Reports and Data, the Global Ice Chests and Coolers market was valued at USD 1,051.5 million in 2018 and is expected to reach USD 2,137.2 million by year 2026, at a CAGR of 9.2%. By volume, the ice chests and coolers market will see a CAGR of 9.5% during the forecast period. The ice chests and coolers is growing out of leisurely customer needs. Coolers and chests are often taken on picnics, and on vacations or holidays. Where summers are hot, they may also be used just for getting cold groceries home from the store, such as keeping ice cream from melting in a hot automobile. Even without adding ice, this can be helpful, particularly if the trip home will be lengthy. Some coolers have built-in cupholders in the lid. They are usually made with interior and exterior shells of plastic, with a hard foam in between. They come in sizes from small personal ones to large family ones with wheels. Disposable ones are made solely from polystyrene foam (such as is a disposable coffee cup) about 2 cm or one inch thick. Most reusable ones have molded-in handles; a few have shoulder straps. The cooler has developed from just a means of keeping beverages cold into a mode of transportation with the ride-on cooler. A thermal bag or cooler bag is very similar in concept, but typically smaller and not rigid.
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Top Profiled Companies in the Global Ice Chests and Coolers Market Report:
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 amongst others are operating in the burgeoning Ice Chests and Coolers marketplace
Further key findings from the report suggest-
· Hard coolers are the better option for more rugged and extended use. They are usually taken on road trips, camping, tailgating, or hunting. Hard coolers have better ice retention capabilities than soft coolers. They occupy the greatest market share in the Type segment in 2018.
· North America has the leading share in the Ice Chests and Coolers industry, chiefly because of the converging trends of their increased adoption rate of new technology products, rise in interest for outdoor camping and increased investments by major players in the Ice Chests and Coolers sector
· Asia Pacific region will witness the highest CAGR during the forecast period on account of rise in income levels and an increased popularity of people to go on hiking and camping trips during holidays. Low production costs in this region is expected to provide Ice Chests and Coolers manufacturers advantages in cost cutting
· USA, Italy, Mexico and Spain are expected to witness a huge surge in this market, as the industry is geared towards countries which have a strong outdoor camping and sports recreation culture, along with regions having relatively hot weather conditions.
· By Type, Soft coolers are expected to grow at the highest CAGR during the forecast period
· Latin America and Middle East and Africa will be showing an average growth of around 10.2% in value till 2026. In Latin America, the popularity of off-road vehicle ownership is expected to be a positive factor for product adoption. Countries where the income levels are comparatively higher, like Argentina and Brazil are expected to drive growth in the Ice Chests and Coolers industry
Key Regional Markets Covered in the Report:
· North America (U.S.A., Canada, Mexico)
· Europe (Italy, U.K., Germany, France, Rest of Europe)
· Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
· Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
· Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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Further market segmentation
By Type (Revenue, USD Million; 2016–2026) (Volume, Thousand Units; 2016-2026)
- Hard coolers and ice chests
- Soft coolers
- Others
By Application (Revenue, USD Million; 2016–2026) (Volume, Thousand Units; 2016-2026)
- Dry Camping
- Backpacking
- Off Road and RV Camping
- Others
Key Takeaways of the Global Ice Chests and Coolers Market Report:
· A comprehensive overview of the global Ice Chests and Coolers industry.
· Accurate market projections in terms of market size, share, and volume.
· Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
· Deep-dive analysis of the upcoming market trends.
· Qualitative and quantitative analyses of the global Ice Chests and Coolers market.
· Elaborate study of the leading regional markets in the global Ice Chests and Coolers market.
· Complete overview of the market’s competitive landscape.
· Brief look at the company profiles and portfolios.
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