Portable Coolers Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029
The global portable coolers market is projected to witness stellar growth in the upcoming years. While main use of portable coolers is in the storage of food and beverages under controlled temperature, the demand for portable coolers is highly increased due to surge in consumption of draught beer in various events. Moreover, the growing trend of camping and hiking activities is also boosting the demand for these products.
The market for portable coolers is broadly segmented on the basis of product type and region. On the basis of product type, this market is segmented into hard-sided coolers, soft-sided coolers, and others. Among them, hard-sided cooler is largely preferred option during camping and hiking activities due to the ability of these coolers to retain ice for longer period in comparison to soft-sided portable coolers.
The global portable coolers market demonstrates a fragmented vendor landscape with the presence of a huge number of players in it. Growing trend of draft beer consumption during social events such as such as festivals, weddings, and corporate parties is driving the demand for portable coolers using which the temperature of these beers is easily maintained. Compact size, convenient to carry during transportation, and cost-effectiveness are some of the advantages of portable coolers due to which they are gaining popularity among worldwide population.
The list of prominent companies contributing to growth of the global portable coolers market includes:
The research report gives detailed analysis of the portable coolers market over the forecast period. While the report covers all key aspects including segmentation and competitive landscape of the market for portable coolers, the study presented in this report serves as a valuable guide for both present participants and the ones planning to make an entry in it.
The prominent companies in the global portable coolers market are heavily investing in research and development activities. This has resulted in presenting the users with a range of highly innovative and technologically advanced portable coolers. For instance, last year Igloo unveiled its eco-friendly portable cooler named “RECOOL.” While new cooler was manufactured using 100% biodegradable materials, it was intended to offer customers with an environmentally as well as cost-effective option to single-use foam coolers.
Some key players in the global portable coolers market are also attempting to attract customers by adding various functionalities such as incorporating tracking devices into portable coolers. Moreover, tapping innovative ways to grab the attention of the consumers in the global portable coolers market. Introduction of LED lights, battery-operated features, and mobile applications are some of the key efforts that highlight the innovation in the market.
On the regional front, Asia Pacific is expected to show promising growth avenues during estimated period. Some of the key factors contributing to the development of the portable coolers market are growing disposable incomes and growing urbanization in this region. In addition, rise in recreational activities is pushing the demand. Presence of emerging economies such as China in this region will aid in vigorous growth of the portable coolers market during forecast period. Besides, other key regions present in the market are Middle East and Africa, Europe, South America, and North America.
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