Global Cooler Box Market

Global Cooler Box Market: Insights

Cooler Box is a completely insulated miniature cold storage which can maintain the cold temperature inside the compact box to store different products and goods. These cooler boxes/ suitcases are extremely portable and handy to use. They are tremendously beneficial to prolong the life of products beyond their expiry period. The end-use industries such as pharmaceuticals and F&B are the two biggest end-user industries of the Cooler Box market.

Also, the new emerging trends like overland traveling, campsites, and other outdoor recreational activities enable various opportunities for the end-users to utilize these cooler boxes to the best of their abilities. Beyond just the two biggest end-user industries, these cooler boxes witness a considerable amount of demand from small wholesalers, retailers, and also from the general public in the society. These boxes serve the basic motive of storing a notable amount of goods and products at a time especially in an overland journey or transport. The ice packs in these boxes sustain for a long time making it easy for the end-users to save perishable goods in it.

Innovations and increasing market competition among the different vendors widen the variety of options available for the consumers to choose from also positively impacting the market. These boxes can also be customized and personalized in shapes and sizes, thus becoming a cost-effective option for the end-users. Along with these above-mentioned factors, other factors like increasing vaccination drives, rising awareness about food safety and security, increasing alertness about food wastage, and increasing demand for better storage availability are driving the growth of the market.

Irrespective of the increasing vaccination drives, the demand for cooler boxes from end-users other than pharmaceutical industries has fallen drastically during the COVID-19 period, thus bringing restrains in the growth of the market. The increasing awareness about the harmful impact of packing waste on the environment is also hampering the market growth. This has led to conscious usage of cooler boxes, only to avoid creating packaging waste.

Global Cooler Box Market: By Type

The Cooler Boxes are available in two types within the market for consumer use, namely, reusable cooler box and disposable cooler box. The cooler box market is dominated by the reusable cooler box owing to its ability to maintain the required cooling temperature and its improved exterior quality. The reusable boxes get an upper hand over the disposable ones for easy usage and maintenance.

The increasing demand from the pharmaceutical industry drives high growth for reusable cooler boxes within the market. Also, the advantage of durability makes it possible for the end-users to effectively utilize the reusable box

Global Cooler Box Market: By End-User

The growing pharmaceutical industry requires a sustainable, user-friendly, and portable solution to store vaccines, pharmaceuticals, blood, organs, and other products thus increasing the demand for cooler boxes. These cooler boxes enable the pharmaceutical industries to follow the guidelines stated by WHO regarding the temperature to be maintained for storing the pharmaceutical products. These boxes facilitate a temperature of between 2° to 8°C.  The increased vaccination drives during pandemics' surge demand to store essential pharmaceutical products on an urgent basis, thus boosting the demand for cooler boxes.

The food & beverage industry, is also one of the largest end-users of the cooler box market, about its demand for storing perishable food products. These cold boxes satisfy the demand of small food chain vendors, giving them a cost-friendly option compared to the huge cold storage/warehouses. The general needs of commoners for outdoor recreational activities are also sufficed through these cooler boxes.

Global Cooler Box Market: By Raw Material

The PU foam is considered to be the best raw material for the creation of cooler boxes. PU Foam showcases efficient thermal application, thus acting as a firm hot air barrier. The flexible quality of PU foam enables the vendors to bring in varied shape and size options, allowing efficient utilization of the space and thus giving an effective insulation experience to the end-user. The usage of lightweight PU Foam in cooler boxes also underlines smooth and easy manufacturing procedures for the vendors.

Global Cooler Box Market: By Region

Asia Pacific region is recorded to be the biggest customer for the cooler box market. It holds its monopoly on both the supply and demand side, thus experiencing an upward growth trend. The APAC region also accounts for earning the highest revenue shares through this. The countries like China, India, Japan, and Korea are a hub of end-user companies, demanding higher rates of cooler boxes. China itself accounts for approximately 8% of the market share in the pharmaceutical industry, resulting in corresponding high demand for cooler boxes. The countries in the APAC region are also improving their existing potential of the manufacturing sector to facilitate bulk contracts for cooler boxes. The government of these countries is increasing awareness about quality pharmaceutical as well as food products. The APAC region also facilitates steady earning to the labor forces owing to the wide range of employment opportunities available in the cooler box market. Asia-Pacific region has also been estimated to witness rapid growth during the forecasted period, concerning the COVID-19 pandemic and resultant worsening conditions of many nations.

North America owning 45% of the market share in the pharmaceutical industry also showcases a considerable amount of demand for cooler boxes.

Global Cooler Box Market: By Share & Competitor Analysis

Sofrigam Group, Igloo, B Medical Systems, Coleman (Esky), Sonoco ThermoSafe, Grizzly, Blowkings, Bison Coolers, ISONOVA, K2 Coolers, Eurobox Logistics, Koolatron, Softbox Systems Ltd, Stanley, VA-Q-tec AG, Cool Ice Box Company Ltd, Coldchain Technologies, Inc, Wild Coolers, and FEURER GmbH are the major players actively involved in the development of advanced cooler boxes.

Please note: This is not an exhaustive list of companies profiled in the report.

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

Coldchain Technologies Inc. established a new facility in Lebanon, to manufacture more reusable and disposable thermal boxes to cater to the requirements of the COVID-19 vaccine to the public.