Opportunities for the global cooler market expected to grow at a CAGR of 6.7% by 2023

According to a new market report published by Lucintel, the future of the cooler market looks promising with opportunities in the camping, fishing, boating, travelling, and medical applications. The global cooler market is expected to grow with a CAGR of 6.7% from 2018 to 2023. The major growth drivers for this market are an increase in outdoor recreational activities, growing disposable income, and increasing usage of coolers in storage and transportation of vaccines.  

In this market, hard and soft body coolers are used for recreational activities and vaccine storage and transportation. Lucintel forecasts that hard body cooler is expected to remain the largest segment and witness the highest growth during the forecast period due to the increasing demand for cooler with higher longevity and easy to carry.

Within the cooler market, camping will remain the largest end use market and also witness the highest growth over the forecast period due to increasing spending in outdoor amusement activities and travelling.

North America is expected to remain the largest market and witness the highest growth over the forecast period due to growing interest in outdoor activities and higher per capita income.

Emerging trends which have a direct impact on the dynamics of the market include coolers with longer duration of temperature retention and manufacturing of coolers which can prevent contamination of the perishable items by microbial activities. Newell, Igloo Coolers, Tokyo Plast, Coleman, Nilkamal, Grizzly, Bison Coolers, YETI, ORCA, Pelican, and K2 are among the major suppliers of cooler.

Lucintel, a leading global strategic consulting and market research firm, has analyzed the global cooler market by application, product type, capacity, and region, and has compiled a comprehensive research report entitled “Growth Opportunities in the Global Cooler Market 2018-2023: Trends, Forecast and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast of the global cooler market by application, type, capacity, and region as follows:

By Application [Value ($ Million) and Volume (Million Units) from 2012 to 2023]:

•          Camping
•          Medical
•          Military

By Product Type [Value ($ Million) and Volume (Million Units) from 2012 to 2023]:

•          Hard body cooler
•          Soft body cooler

By Capacity [Value ($ Million) and Volume (Million Units) from 2012 to 2023]:

•          Below 15 Quarts
•          Between 16 and 40 Quarts
•          Between 41 and 100 Quarts
•          Above 100 Quarts

By Region [Value ($ Million) and Volume (Million Units) from 2012 to 2023]:

•          North America
•          Europe
•          Asia Pacific
•          The Rest of the World

This 196-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com. Lucintel offerings include Consumer Goods Report, Consumer Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT Matrix.

About Lucintel

Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

This report answers following key questions:

Q. 1. How big are the opportunities for the global cooler market by application (camping, medical, and military cooler), product type (hard body cooler and soft body cooler),  capacity (below 15 quarts, between 16 and 40 quarts, between 41 and 100 quarts, and above 100 quarts), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q. 2. Which product segments will grow at a faster pace and why?

Q. 3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the drivers, challenges, and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market and which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are being taken by key companies for business growth?

Q. 10. What M&A activity has occurred in the last five years?