Insulated cooler market set to reach $1,400 million by 2033, driven by e-commerce and outdoor trends

The global insulated refrigerator market is on a strong growth trajectory and is forecast to be valued at approximately USD 745.1 million in 2023. This growth is supported by increasing government initiatives to promote outdoor activities and growth in e-commerce and food delivery services. The market is expected to expand at a compound annual growth rate (CAGR) of 6.6% from 2023 to 2033, potentially reaching approximately USD 1,400 million by 2033.

The rise of online shopping and food delivery services has fundamentally changed consumer behavior, underscoring the growing need for efficient solutions for transporting perishable goods. As consumers increasingly prefer the convenience of delivering groceries, prepared meals, and other perishable goods, insulated refrigerators have become essential. These refrigerators play a key role in ensuring that products maintain optimal temperature, quality, and freshness during transportation.

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Insulated coolers offer a reliable solution to maintaining food safety and quality by solving the challenges of temperature control during transportation. By preventing food spoilage and reducing the risk of foodborne illness, insulated coolers increase customer satisfaction and confidence in the food industry.

With the continued growth of e-commerce and the growing popularity of outdoor activities, demand for insulated coolers is expected to grow accordingly. Companies operating in this sector are well-positioned to benefit from these trends as consumers seek products that ensure their perishable goods remain in perfect condition from delivery to consumption.

Key findings: the insulated refrigerator market

Global demand for insulated refrigerators grew at a CAGR of 3.0% during 2018-2022, and the total market value is expected to reach USD 1.4 billion by 2033.
The United States is expected to dominate insulated refrigerator sales in North America, with a projected compound annual growth rate (CAGR) of 6.4% through 2033.
In India, the insulated refrigerator market is projected to grow at a CAGR of 6.5% during the forecast period.
The hard cooler segment is the largest on the market and is expected to grow at a CAGR of approximately 6.8% in the analyzed period.

Competitive Landscape

The key players in the insulated refrigerator market are focusing on increasing profits from the existing product portfolio as well as exploring potential new applications. Players are focusing on improving the production capacity of insulated refrigerators to meet the demand of various end-user sectors. Prominent players are also advocating for geographical expansion to reduce the dependence on imported insulated refrigerators.

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; A. O. Coolers; Stanley, a PMI brand; K2 Coolers; Engel Coolers; Grizzly Coolers LLC

Latest events:

IN 2023, Rubber announced the launch of a new line of insulated coolers that are designed to be more water-resistant. The new coolers are water-resistant, making them a more suitable choice for applications in humid environments.
In 2023, Coleman announced the launch of a new line of insulated coolers designed to be more efficient. The new coolers are designed to meet the demanding requirements of a variety of applications, including camping, fishing and outdoor events.
IN 2022, RTIC coolers announced the launch of a new line of insulated coolers that are designed to be more cost-effective. The new coolers are made from a less expensive material that is still effective in many applications.
IN August 2021, Igloo Products Corp. He cooperated with National League of American Football and launched the first-ever NFL Playmate cooler collection, as well as customizing its branded Little Playmate cooler to fit the needs of each of the 32 NFL teams.

Key segments profiled in the global insulated refrigerator market

By capacity:

Up to 25 liters
26-75 Quarter
76-150 Quart
Over 150 liters

By product type:

Hard coolers
Soft coolers

By carrying capacity:

Side handles
Lid handle
Shoulder strap
Wheel

By region:

North America
Latin America
Western Europe
Eastern Europe
South Asia and Pacific
East Asia
Middle East and Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, Stevie Award winner, and member of the Greater New York Chamber of Commerce) offers in-depth insights into the factors driving market demand. FMI is a leading global provider of market intelligence, advisory services, consulting, and events for the packaging, food and beverage, consumer technology, healthcare, industrial, and chemical markets. With an extensive team of over 400 analysts, FMI offers global, regional and local expertise across diverse disciplines and industry trends in more than 110 countries.

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