Cooling Boxes Market To Hit USD 9.9 Billion By 2032, Says Global Market Insights Inc.

(MENAFN- GlobeNewsWire - Nasdaq) Cooling boxes industry is projected to witness a CAGR of 6.5% during the period 2024-2032. This growth can be attributed to advancements in technology.

Selbyville, Delaware, Nov. 13, 2024 (GLOBE NEWSWIRE) --

Cooling Boxes market size was valued at USD 5.7 billion in 2023 and is projected to grow at 6.5% CAGR from 2024 to 2032. The increasing enthusiasm for outdoor activities, including camping and hiking, drives the demand for portable cooling solutions. These activities necessitate reliable cooling options to store food and beverages effectively.

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A heightened emphasis on food safety and hygiene also contributes to the rising demand for cooling boxes, as they are essential for maintaining proper temperatures for perishable items during storage and transportation. Moreover, the surge in the consumption of convenience foods and beverages creates a need for efficient cooling systems to preserve quality and extend shelf life. Recent advancements in insulation materials and designs have resulted in more efficient and durable cooling boxes. Innovations in thermal insulation and ice retention technologies are enhancing the overall performance of these products.

The cooling boxes market is categorized into two main types: disposable and reusable cooling boxes. In 2023, reusable cooling boxes dominated the market, generating USD 4 billion and expected to reach USD 7.1 billion by 2032. These boxes are designed for multiple usages, aligning with the growing focus on sustainability and waste reduction. Although they come with a higher initial cost, their durability and long lifespan lead to significant savings compared to continuously purchasing disposable alternatives.

Capacity-wise, the cooling boxes market is divided into several segments: less than 10 liters, 10 to 40 liters, 41 to 80 liters, and above 80 liters. In 2023, cooling boxes with a capacity of 10 to 40 liters accounted for 41% of the market share and are anticipated to continue growing. This size range is versatile, making these boxes ideal for various activities, such as short trips or family gatherings. They strike a balance between portability and adequate storage space, catering to medium-sized groups effectively.

North America represented a cooling boxes market valued at approximately USD 1.5 billion in 2023, with expectations of reaching USD 2.7 billion by 2032. The region's strong interest in outdoor activities fuels the demand for portable cooling solutions that can keep food and beverages fresh during extended excursions. With a strong culture of outdoor recreation, the need for efficient cooling options remains robust, ensuring continued growth in this market segment throughout the forecast period.

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Major players in cooling boxes market include Arctic Zone, Bison, Cabela's, Campingaz, Coleman, Engel, Grizzly, IceMule, Igloo, K2, Magma, Orca, Pelican, RTIC, and YETI among others.

Partial Table of Contents (ToC) of the report:

Chapter 1 Methodology & Scope

1.1 Market scope & definitions

1.2 Base estimates & calculations

1.3 Forecast calculations

1.4 Data sources

1.4.1 Primary

1.4.2 Secondary

1.4.2.1 Paid sources

1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Industry 3600 synopsis, 2021-2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis

3.1.1 Factor affecting the value chain

3.1.2 Profit margin analysis

3.1.3 Disruptions

3.1.4 Future outlook

3.1.5 Manufacturers

3.1.6 Distributors

3.2 Supplier landscape

3.3 Profit margin analysis

3.4 Raw material analysis

3.5 Key news & initiatives

3.6 Regulatory landscape

3.7 Impact forces

3.7.1 Growth drivers

3.7.1.1 Increasing outdoor activities

3.7.1.2 Health and wellness awareness

3.7.1.3 Advancements in technology

3.7.1.4 Increasing functionality trends

3.7.2 Industry pitfalls & challenges

3.7.2.1 Market saturation and fragmentation

3.7.2.2 Supply chain disruptions

3.8 Growth potential analysis

3.9 Porter's analysis

3.10 PESTEL analysis

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About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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