The insulated coolers market is expected to experience substantial growth, with a projected compound annual growth rate (CAGR) of 6.6% between 2023 and 2033, ultimately reaching an estimated market value of approximately US$ 1,400 million by 2033.

As per analysis by FMI, the United States is poised to dominate the North American market in terms of sales until 2033, with a projected Compound Annual Growth Rate (CAGR) of 6.4% throughout the analysis period.

The United States is poised for significant growth in the insulated cooler market, primarily driven by the increasing demand for eco-friendly and sustainable food packaging. According to analysis by FMI, the U.S. is expected to dominate North American sales in this market until 2033, with a projected compound annual growth rate (CAGR) of 6.4% over the analysis period.

Insulated coolers offer a cost-effective and reusable alternative to one-time-use plastic bags, significantly reducing the carbon footprint. The rising popularity of quick-service restaurants, food service retail chains, and the booming e-commerce sector has heightened the demand for insulated cooler packaging, which ensures safe and secure food delivery.

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In India, the insulated cooler market is set to experience robust growth with a projected CAGR of 6.5% over the forecast period. India’s expanding pharmaceutical and healthcare sectors play a pivotal role in this growth. The country is a global leader in providing generic drugs, and its domestic pharmaceutical market is expected to triple in the next decade. Insulated coolers are becoming crucial for maintaining medicines at controlled temperatures, protecting them from sunlight and moisture, which can negatively affect drug quality. E-commerce companies are increasingly turning to thermally insulated coolers as efficient packaging solutions, especially for online pharmacy orders and deliveries.

The escalating consumer demand for safe and reliable pharmaceutical product consumption, driven by concerns about contamination and deterioration during transit, is expected to further stimulate market demand. Investments in cold chain transportation for vaccines, insulin, and other temperature-sensitive drugs, which require specific care during storage and transportation, are also contributing to the growth of the insulated cooler market in India.

Key Takeaways – Insulated Coolers Market Study

• Increasing preference for outdoor and sports activities such as camping, fishing, and hiking are expected boost demand for insulated coolers in the U.S.
• Hard coolers remain the most preferred insulated coolers, attributable to better durability and high ice retention ability as compared to soft coolers.
• Globally, 26-75 quart insulated coolers are estimated to be high selling among all insulated coolers in terms of capacity in 2019. Customers opt for 26-75 quart insulated coolers, as result of easy outdoor handling and conveying and adequate storage capacity.

The Major Key Players-

• YETI Coolers LLC
• Igloo Products Corp.
• The Coleman Company, Inc.
• Pelican Products, Inc.
• RTIC Outdoors LLC
• ORCA
• Bison Coolers LLC
• Otter Products llc
• Koolatron Corp
• COLD & CO

Recent Developments:

• In 2023, Rubbermaid announced the launch of its new line of insulated coolers that are designed to be more water-resistant. The new coolers can withstand exposure to water, making them a more suitable option for applications in wet environments.
• In 2023, Coleman nnounced the launch of its new line of insulated coolers that are designed to be more high-performance. The new coolers are designed to meet the demanding requirements of a variety of applications, including camping, fishing, and tailgating.
• In 2022, RTIC Coolers announced the launch of its new line of insulated coolers that are designed to be more cost-effective. The new coolers are made from a lower-cost material that is still effective in a variety of applications.

Factors Driving the Growth of the Insulated Coolers Market

• Increase in outdoor activities As more people engage in outdoor recreational activities, the demand for insulated coolers has soared. From camping and hiking to sports events and picnics, these coolers enhance the overall experience.
• Rising demand for long-lasting cooling solutions Consumers are seeking durable cooling options that can retain temperature for extended periods, especially during outdoor adventures where access to refrigeration is limited.
• Growing interest in eco-friendly and sustainable products The market is witnessing an upsurge in eco-conscious consumers who prefer insulated coolers made from biodegradable and recyclable materials, contributing to a greener environment.

Insulated Coolers Market by Category

By Capacity:

• Upto 25 Quart
• 26-75 Quart
• 76-150 Quart
• Above 150 Quart

By Product type:

• Hard Coolers
• Soft Coolers

By Carrying capacity:

• Side Handles
• Lid Handle
• Shoulder Strap
• Wheel