Ice Chests and Coolers Market Size, Strategies, Competitive Landscape, Trends & Factor Analysis, 2020–2027

New York, November 07, 2019 -According to the current analysis of Reports and Data, the Global Ice Chests and Coolers market was valued at USD 1,051.5 million in 2018 and is expected to reach USD 2,137.2 million by year 2026, at a CAGR of 9.2%. By volume, the ice chests and coolers market will see a CAGR of 9.5% during the forecast period.
Increase in popularity of outdoor recreational activities coupled with lifestyle changes and greater product innovation and portfolio expansion by market leaders are expected to positively impact market growth and will drive the ice chests and coolers market at a high CAGR during the forecast period.

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Many companies like Perlick Corporation, Pelican Products, Inc, Koolatron, Arctic Zone, Igloo Products Corp., AO Coolers, Coleman Company, Inc., Yeti Coolers LLC, Tokyo Plast International and Lifetime Products Inc amongst others are operating in the burgeoning Ice Chests and Coolers marketplace.

Market Size- USD 1,051.5 million in 2018, Market Growth- CAGR of 9.2%, Market trends- Rise in income levels, coupled with increasing popularity of outdoor travel is providing an impetus to the market, North America is expected to register the highest market share during the forecast period

The ice chests and coolers is growing out of leisurely customer needs. Coolers and chests are often taken on picnics, and on vacations or holidays. Where summers are hot, they may also be used just for getting cold groceries home from the store, such as keeping ice cream from melting in a hot automobile. Even without adding ice, this can be helpful, particularly if the trip home will be lengthy. Some coolers have built-in cupholders in the lid. They are usually made with interior and exterior shells of plastic, with a hard foam in between. They come in sizes from small personal ones to large family ones with wheels. Disposable ones are made solely from polystyrene foam (such as is a disposable coffee cup) about 2 cm or one inch thick. Most reusable ones have molded-in handles; a few have shoulder straps. The cooler has developed from just a means of keeping beverages cold into a mode of transportation with the ride-on cooler. A thermal bag or cooler bag is very similar in concept, but typically smaller and not rigid.

Camping is on the rise across the world, and especially more in developed regions, where rising income levels and changing trends have made many people venture out either solo, or in groups. Camping and camp related activities tend to surge in the summer months in the Northern Hemisphere, primarily due to amenable weather conditions that the season brings. Also, in northern European countries, especially in Scandinavian and surrounding regions, summer is the only time when it is safe to spend overnight hours outside, as temperatures tend to remain chilly for most of the year. The recent high summer temperatures and sultry conditions in Europe and North America has spurred camping and hiking activities in these parts. To stay hydrated, most families and campers tend to carry ice-coolers to keep their drinks chilled. Beach holidays are also on the rise during the summer months, and chilled drinks call for affordable ice coolers to be readily available. These unique industry trends will further spur industry growth for ice chests and coolers. Camping generated USD 166.9 billion in retail spending for the year 2017, according to an Outdoor Industry Association report for the US. The huge amount spend on camping bodes well for equipment manufacturers who can occupy a sizable chunk of this very lucrative market. According to the National Park Services, approximately 11 million people visit the Great Smoky Mountains National Park on an annual basis. Other national parks like the Yellowstone and Yosemite have recorded increase in footfalls. Demand for both soft and hard lined ice coolers are expected to increase from diverse demographic cohorts who go for these camping trips in North America. Europe, and other developed regions are also seeing an increase in interest towards camping related activities, due to which demand for accessories and equipment is projected to increase during the forecast period.

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Further key findings from the report suggest-
Hard coolers are the better option for more rugged and extended use. They are usually taken on road trips, camping, tailgating, or hunting. Hard coolers have better ice retention capabilities than soft coolers. They occupy the greatest market share in the Type segment in 2018.

North America has the leading share in the Ice Chests and Coolers industry, chiefly because of the converging trends of their increased adoption rate of new technology products, rise in interest for outdoor camping and increased investments by major players in the Ice Chests and Coolers sector
Asia Pacific region will witness the highest CAGR during the forecast period on account of rise in income levels and an increased popularity of people to go on hiking and camping trips during holidays. Low production costs in this region is expected to provide Ice Chests and Coolers manufacturers advantages in cost cutting
USA, Italy, Mexico and Spain are expected to witness a huge surge in this market, as the industry is geared towards countries which have a strong outdoor camping and sports recreation culture, along with regions having relatively hot weather conditions.
By Type, Soft coolers are expected to grow at the highest CAGR during the forecast period
Latin America and Middle East and Africa will be showing an average growth of around 10.2% in value till 2026. In Latin America, the popularity of off-road vehicle ownership is expected to be a positive factor for product adoption. Countries where the income levels are comparatively higher, like Argentina and Brazil are expected to drive growth in the Ice Chests and Coolers industry
For the purpose of this study, Reports and Data have segmented the Ice Chests and Coolers market by Type, by Application, and by Region:

Ice Chests and Coolers Market by Type (Revenue, USD Million; 2016–2026) (Volume, Thousand Units; 2016-2026)

Hard coolers and ice chests
Soft coolers
Others
Ice Chests and Coolers Market by Application (Revenue, USD Million; 2016–2026) (Volume, Thousand Units; 2016-2026)
Dry Camping
Backpacking
Off Road and RV Camping
Others

Ice Chests and Coolers Market by Region (Revenue, USD Million; 2016–2026) (Volume, Thousand Units; 2016-2026)
North America
US
Canada
Mexico
Europe
Germany
France
UK
Spain
Italy
Russia
Rest of the Europe
Asia Pacific
China
India
Japan
Australia
South Korea
Indonesia
Singapore
Rest of Asia-Pacific
South and Central America
Brazil
Argentina
Rest Of South America
Middle East and Africa
Saudi Arabia
Turkey
Rest Of MEA

Key Informational Takeaways from the Market Study:

The report on Ice Chests and Coolers provides thoroughly examined and evaluated data of the leading companies and their current situation in the market by the use of different precise tools. The analytical tools include SWOT analysis, Porter’s five powers analysis, and others. The assumption return debt was utilized while separating the improvement of the key players performing in the market.

Key Developments in the Market:
This segment of the Ice Chests and Coolers report focuses on the critical developments of the market that contains confirmations, composed endeavors, R&D, joint endeavors, and relationships among the driving members working in the market.

Some of the important question for the stakeholders and business professionals for expanding their position in the Global Ice Chests and Coolers Market:
Q 1. Which Region offers the most rewarding opportunities for the market in 2021?
Q 2. What are the several business threats and variable scenarios concerning the market?
Q 3. What are the most encouraging and high-development scenarios for the Ice Chests and Coolers market showcased by applications, types, and regions?
Q 4.What market segments grab the most attention in Ice Chests and Coolers Market in 2021 and beyond?
Q 5. Who are the major players controlling and impacting the Ice Chests and Coolers Market?

To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/ice-chests-and-coolers-market

Key pointers of the TOC:
Chapter 1 Global Ice Chests and Coolers Market Business Overview
Chapter 2 Major Breakdown by Type
Chapter 3 Major Application Wise Breakdown (Revenue & Volume)
Chapter 4 Manufacturer Market Breakdown
Chapter 5 Sales & Estimates Market Study
Chapter 6 Key Manufacturers Production and Sales Market Comparison Breakdown
Chapter 8 Manufacturers, Deals and Closings Market Evaluation & Aggressiveness
Chapter 9 Key Companies Breakdown by Overall Market Size & Revenue by Type
Chapter 11 Business and Industry Chain (Value & Supply Chain Analysis)
Chapter 12 Conclusions & Appendix
Thank you for reading this article. You can also get chapter-wise sections or region-wise report coverage for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

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