Cooling Boxes Market - By Type, By Material, By Capacity, By End-use, By Distribution Channel, Forecast 2024 - 2032

Cooling Boxes Market Size

The global cooling boxes market size was valued at USD 5.7 billion in 2023 and is estimated to grow at a CAGR of 6.5% from 2024 to 2032. The growing popularity of outdoor activities such as camping, hiking, and picnicking boosts the demand for portable cooling boxes. These activities require reliable cooling solutions to store food and beverages.
 

Enhanced focus on food safety and hygiene increases the need for cooling boxes to maintain the proper temperature for perishable goods during transportation and storage. The rise in the consumption of convenience foods and beverages requires effective cooling solutions to preserve quality and extend shelf life. Technological advancements in insulation materials and design have led to more efficient and longer-lasting cooling boxes. Innovations such as better thermal insulation and ice retention technology enhance the performance of cooling boxes. The surge in road trips and domestic travel drives the need for portable cooling solutions to store food and beverages during travel. Growing awareness of health and wellness encourages consumers to carry fresh, healthy foods and beverages, which necessitates the use of cooling boxes to maintain freshness.
 

The market is highly competitive with numerous brands offering a wide range of cooling boxes. This saturation can lead to price wars, reduced profit margins, and increased difficulty for new entrants to gain market share. Disruptions in the supply chain, whether due to geopolitical issues, natural disasters, or pandemics, can lead to delays and increased costs, impacting product availability and profitability.
 

Cooling Boxes Market Trends

There is a growing preference for portable and lightweight cooling boxes that are easy to carry and transport. This trend caters to outdoor enthusiasts, travelers, and those seeking convenience in everyday use. Consumers increasingly seek cooling boxes that offer additional functionalities, such as built-in speakers, USB charging ports, or integrated storage compartments. The integration of smart technologies, such as temperature control via smartphone apps, GPS tracking, and automated alerts, is becoming more prevalent. These features cater to tech-savvy consumers and provide added convenience and control. There is a growing emphasis on using recycled and eco-friendly materials in the manufacturing of cooling boxes. This trend reflects the broader consumer shift towards sustainability and environmental responsibility.
 

Cooling Boxes Market Analysis

Based on type, the market is divided into disposable and reusable. In 2023, reusable cooling boxes held the dominant market of USD 4 billion and is expected to reach USD 7.1 billion by 2032. Reusable cooling boxes are designed for multiple uses, aligning with increasing consumer and corporate focus on sustainability and reducing waste. They offer an eco-friendlier alternative to disposable options. Although the initial cost of reusable cooling boxes is higher, their durability and long lifespan result in cost savings over time compared to continually purchasing disposable alternatives. Reusable cooling boxes often come with advanced features such as better insulation, built-in cooling systems, and customizable designs, catering to diverse needs ranging from outdoor adventures to industrial applications.
 

Based on capacity, the cooling boxes market is categorized into Less than 10L, 10L - 40L, 41L - 80L and above 80L. In 2023, 10L – 40L capacity cooling boxes held the dominant market share of 41% and is anticipated to grow through the years. Cooling boxes in this range are versatile and can be used for various purposes, including short camping trips, beach outings, or small family gatherings. This capacity is suitable for medium-sized groups or families, offering a balance between portability and sufficient storage space. Popular for camping, picnicking, and sporting events where a moderate amount of food and beverages need to be kept cool.
 

North America held a cooling boxes market of around USD 1.5 billion in 2023 and is expected to reach USD 2.7 billion by 2032. The high interest in outdoor activities like camping, hiking, and fishing drives demand for portable cooling solutions to keep food and beverages fresh during extended outings.

The market in U.S. is set to grow through a CAGR of 6.9% through the forecast period. The U.S. has a strong culture of outdoor activities, including camping, hiking, and fishing. Cooling boxes are essential for these activities to keep food and beverages fresh and cool during extended trips.
 

The German cooling boxes market maintained a considerable position in Europe. As Germany continues to urbanize, consumers seek products that offer convenience and efficiency. Cooling boxes that are easy to use, portable, and require minimal maintenance are favored. The convenience of cooling boxes for urban activities like picnics, beach outings, and outdoor events contributes to market growth.
 

China is supposed to grow at the highest rate of 7.6% in the region. The shift towards a more active and outdoor lifestyle in China is driving the demand for cooling boxes. Consumers are increasingly seeking products that enhance their outdoor experiences, such as camping and barbecuing. The versatility and convenience offered by cooling boxes make them a popular choice for these activities.
 

Cooling Boxes Market Share

The market seem to be consolidated in nature due to presence of local and global players across the globe. In 2023, the market players such Arctic Zone, Bison Coolers, Cabela’s Inc., Campingaz, Coleman Company, Inc., Engel Coolers, Grizzly Coolers and IceMule Coolers collectively held around 5%-10% market share. These prominent players are proactively involved in strategic endeavors, such as mergers & acquisitions, facility expansions & collaborations, to expand their product portfolios, extend their reach to a broader customer base, and strengthen their market position.
 

Cooling Boxes Market Companies

Major players operating in the cooling boxes industry are:

• Arctic Zone
• Bison
• Cabela's
• Campingaz
• Coleman
• Engel
• Grizzly
• IceMule
• Igloo
• K2
• Magma
• Orca
• Pelican
• RTIC
• YETI
   

Cooling Boxes Industry News

• In February 2023, B Medical Systems revealed that its RCW25 transport box received certification from CERTICOLD Pharma, ensuring compliance with EU Good Distribution Practices.
   
• In July 2022, Cold Chain Technologies, LLC formed a partnership with Air Cargo Belgium, aiming to bolster its footprint in the EMEA region.
   

The cooling boxes market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) (Million Units) from 2021 to 2032, for the following segments:

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Market, By Type

• Disposable
• Reusable
  • Electric
  • Non-electric

Market, By Material

• Metal
• Plastic
• Foam
• Others (Cardboard, etc.)

Market, By Capacity

• Less than 10L
• 10L - 40L
• 41L - 80L
• Above 80L

Market, By End-use

• Residential/Individual
• Commercial
  • Food & Beverage
  • Pharmaceuticals
  • Others (Cosmetics, etc.)

Market, By Distribution Channel

• Direct
• Indirect

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia 
• Latin America
  • Brazil
  • Mexico
• MEA
  • UAE
  • Saudi Arabia
  • South Africa