Foam Cooler Box Market is Estimated to Witness High Growth Owing to Opportunity to Replace Single-Use Plastic Coolers

 

Foam cooler boxes are portable insulated containers that help maintain the ideal temperature of food and beverages during transportation and storage. They provide effective insulation and portability for perishable items. The global Foam Cooler Box market is estimated to be valued at US$ 2.93 Bn in 2023 and is expected to exhibit a CAGR of 8.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Foam cooler boxes offer advantages over traditional ice-based coolers as they provide better temperature maintenance, are easier to carry, and do not leak water.

Market key trends: The demand for foam cooler boxes is being driven by the rising focus toward sustainable packaging solutions. Foam cooler boxes do not require ice to keep contents cool and thus reduce energy usage and carbon emissions associated with ice production and transportation. They have highly efficient insulation properties and can maintain ice for up to 5 days or temperature for up to 3 days, reducing product wastage. Their lightweight and durable design makes them a more eco-friendly alternative to traditional hard-shell coolers. The growing awareness about environmental protection is encouraging consumers and businesses to shift toward sustainable and reusable packaging options like foam cooler boxes.

Segment Analysis

The global foam cooler box market is dominated by molded foam sub segment which accounted for over 40% market share in 2022. Foam cooler boxes which are molded offer superior insulation as compared to foam panels, owing to closed cell structure of molded foam. They can reliably keep ice for over 5 days during summer.

Key Takeaways

The global foam cooler box market is expected to witness high growth over the forecast period of 2023 to 2030, expanding at a CAGR of 8.6% and reaching a market size of US$ 2.93 Bn by 2024.

The regional analysis shows that North America currently dominates the global foam cooler box market with over 30% share. The demand for foam coolers is high in the region owing to frequent outdoor activities such as camping, picnics, tailgating etc.

Key players operating in the foam cooler box market are YETI, Igloo, Coleman, Rubbermaid, Grizzly, Engel, Bison Coolers, ORCA, Pelican, Polar Bear Coolers, AO Coolers, Kula Coolers, IceMule, RTIC, Canyon Coolers, OtterBox, Kysek, Magellan Outdoors, Everest, Stanley. YETI has emerged as the market leader with over 15% market share owing to its innovating products and strong distribution network across North America and Europe. Coleman is another leading player in the market with wide range of affordable foam cooler boxes.

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