Cooler Box Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 10.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Cooler Box Market Analysis
The Global Ice/Cooler Box Market generated a revenue of USD 5.6 billion in the current year and is poised to achieve a CAGR of 10% for the forecast period.
An ice/cooler box is a type of consumer storage item that is used to store food, drink, and pharmaceutical medications. It maintains low temperatures for the products or materials housed inside. In order to insulate the products, boxes are designed. Cooler boxes are highly portable, making them simple to move from one location to another. They are typically used for vacations, holidays, and picnics. Also, they are employed in regions with scorching summers.
To maintain a low temperature inside a box, ice packs or ice cubes are put inside. Since ice packs provide lower temperatures for longer, they are typically preferred over ice cubes. In the healthcare sector, cooler boxes are also used to store or keep medications in a cool environment.
The COVID-19 epidemic has had a positive impact on the ice/cooler market. Due to the Vaccination program globally, the requirement for cooler boxes and cooled storage was at its peak. The companies focused on R&D to develop more advanced refrigerated solutions at record speed to store the vaccines while transportation. Company's like Panasonic developed Panasonic VIXELL Cooling Boxes which helped to beat the global COVID-19 Pandemic.
The key factor fueling the growth of the cooler box market is the rising demand for temperature control to prevent food loss and related health risks. The growth of the cooler box market is accelerated by the expansion of the pharmaceutical sector and campaigns to immunize against COVID-19. The pharmaceutical industry's strict needs for temperature control and the expansion of the global food trade as a result of trade liberalization are other factors influencing the cooler box market. Additionally, factors such as population growth, rapid urbanization, changes in lifestyle, and R&D activities have a positive impact on the cooler box market.
On the other hand, the implementation of stringent environmental rules & regulations is projected to challenge the cooler box market in the forecast period.
Cooler Box Market Trends
This section covers the major market trends shaping the Cooler Box Market according to our research experts:
The Reusable Segment Dominated the Market
The reusable segment held the largest market share, accounting for 67% of the total. Reusable Cooler boxes are preferable to other types of boxes due to their high efficiency and hard shell. They are less expensive and more durable than disposable cooler boxes. These factors are propelling cooler box growth during the forecast period. Reusable cooler boxes are primarily used in the pharmaceutical industry, where product temperature comfort is critical.
For instance, in order to meet public demand for the COVID-19 vaccine, Coldchain Technologies Inc. built a new factory in Lebanon to produce additional reusable and disposable thermal boxes.
Asia-Pacific is the Fastest Growing Region in the Ice/Cooler Box Market
Asia-Pacific is expected to be the fastest-growing region in the forecast period and is predicted to have the largest revenue growth in the cooler box market. This is attributable to the rise in demand for cold storage and shipping in nations like China and India. Moreover, the countries like China, India, Japan, and Korea are a hub of end-user companies, demanding higher rates for cooler boxes. China alone holds over 8% of the market share in the pharmaceutical sector, which causes a strong need for cooler boxes. The nations in the APAC region are also enhancing their current manufacturing sector potential to support large-scale cooler box contracts. For instance, in December 2020, B Medical Systems established a manufacturing factory in Gujarat, India to manufacture cold chain products and fulfill the increasing demand for vaccine cold chain products.
With customers becoming more knowledgeable about the advantages of using cooler boxes, the cooler box market is also anticipated to expand in developed nations like Japan and South Korea. Also, the market for cooler boxes is anticipated to gain from the rising need for cooling solutions that are both environmentally friendly and energy-efficient. The government is also increasing awareness about quality pharmaceutical as well as food products.
Cooler Box Industry Overview
The global Ice/Cooler box market is fragmented due to the presence of a large number of global and regional players in the market like Sonoco, Blowkings, Bison Coolers, B Medical Systems(Azenta, Inc.), CSafe Global, Sofrigam Group, VA-Q-tec AG, Cool Ice Box Company Ltd, Coldchain Technologies, Inc, Wild Coolers, and FEURER GmbH, among others. Manufacturers are introducing new products in the market using new technologies. The companies use various marketing strategies to increase their market shares. Some of the market's leading players are heavily investing in research and development activities to improve their position in current technologies and processes in order to increase efficiency and lower costs.
Cooler Box Market Leaders
Blowkings
Coldchain Technologies, Inc.
Sonoco
CSafe Global
Azenta, Inc.
*Disclaimer: Major Players sorted in no particular order
Cooler Box Market News
- In November 2022, Sonoco, a global leader in diversified packaging, plans to further expand Sonopost cornerpost manufacturing with the new facility in Bursa, Turkey.
- In October 2022, AZENTA, INC. announced the acquisition of B Medical Systems S.Á R.L and its subsidiaries, a market leader in temperature-controlled storage and transportation solutions that enable the delivery of life-saving treatments to more than 150 countries worldwide. This acquisition complements Azenta's cold chain capabilities, adding differentiated solutions for reliable and traceable transport of temperature-sensitive specimens.
- In October 2022, CSafe Global, the largest provider of a complete range of active and passive temperature-controlled shipping solutions for the pharmaceutical industry, announced the launch of its new advanced reusable pallet shipper, CSafeAPS.
Cooler Box Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Value Chain Analysis
4.5 Industry Attractiveness: Porter's Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competitive Rivalry
4.6 Insights into Technological Advancements in the Industry
4.7 Insights on Various Regulatory Trends Shaping the Market
4.8 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Reusable
5.1.2 Disposable
5.2 By Raw Material
5.2.1 PU Foam
5.2.2 Expanded Polystyrene
5.2.3 Extruded Polystyrene
5.2.4 Expanded Polypropylene
5.2.5 Others
5.3 By End User
5.3.1 Pharmaceuticals
5.3.2 Food & Beverages
5.3.3 Others
5.4 By Geography
5.4.1 North America
5.4.2 Europe
5.4.3 Asia-Pacific
5.4.4 South America
5.4.5 Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Blowkings
6.2.2 Coldchain Technologies, Inc.
6.2.3 Sonoco
6.2.4 CSafe Global
6.2.5 Azenta, Inc. ( B Medical Systems)
6.2.6 Bison Coolers
6.2.7 Sofrigam Group
6.2.8 VA-Q-tec AG
6.2.9 Cool Ice Box Company Ltd
6.2.10 Wild Coolers
6.2.11 FEURER GmbH
6.2.12 Igloo*
- *List Not Exhaustive
7. MARKET OPPORTUNTIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
Cooler Box Industry Segmentation
A cooler box refers to one of the consumer storage goods that are used for storing food & beverage products and pharmaceutical products. A complete background analysis of the global Ice/Cooler box market, including the assessment of the economy and contribution of the sectors in the economy, market overview, market size estimation for key segments and emerging trends in the market segments, market dynamics, and insights, is covered in the report.
The global Ice/Cooler Box Market is Segmented by Type (Reusable, Disposable), by Raw Material (PU Foam, Expanded Polystyrene, Extruded Polystyrene, Expanded Polypropylene, Others), by End User (Pharmaceuticals, Food & Beverages, and Others), and by Geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa). The market sizes and forecasts are provided in terms of value (USD billion) for all the above segments.
| By Type | |
| Reusable | |
| Disposable |
| By Raw Material | |
| PU Foam | |
| Expanded Polystyrene | |
| Extruded Polystyrene | |
| Expanded Polypropylene | |
| Others |
| By End User | |
| Pharmaceuticals | |
| Food & Beverages | |
| Others |
| By Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| South America | |
| Middle-East and Africa |
Cooler Box Market Research FAQs
What is the current Cooler Box Market size?
The Cooler Box Market is projected to register a CAGR of greater than 10% during the forecast period (2024-2029)
Who are the key players in Cooler Box Market?
Blowkings, Coldchain Technologies, Inc., Sonoco , CSafe Global and Azenta, Inc. are the major companies operating in the Cooler Box Market.
Which is the fastest growing region in Cooler Box Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Cooler Box Market?
In 2024, the North America accounts for the largest market share in Cooler Box Market.
What years does this Cooler Box Market cover?
The report covers the Cooler Box Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Cooler Box Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Cooler Box Industry Report
Statistics for the 2024 Cooler Box market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Cooler Box analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
