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The portable coolers market size is estimated to grow at a CAGR of 9.19% between 2022 and 2027. The market size is forecast to increase by USD 3,570.11 million. The growth of the market depends on several factors such as the increasing popularity of outdoor activities, high consumption of draft beer and home-brewed beer, and increased participation in outdoor recreational activities.
This portable coolers market report extensively covers market segmentation by product (hard-sided, soft-sided, and others), end-user (residential or recreational, and commercial and government), distribution channel (offline and online), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing popularity of outdoor activities is the key factor driving the growth of the market. The global portable cooler market is growing rapidly, mainly due to the increasing popularity of outdoor activities such as camping, hiking, and picnicking. Consumers are looking for portable coolers to keep food and drinks fresh and cold and enhance their outdoor experience.
Furthermore, the COVID-19 pandemic has increased the demand for portable coolers as people seek safer outdoor recreation options. Therefore, manufacturers are responding with innovative and feature-rich coolers tailored to the specific needs of outdoor enthusiasts, driving the global portable cooler market to grow significantly during the forecast period.
The growing trend of customization is the primary trend shaping the growth of the market. The rapid development of portable coolers and increasing competition in the market have forced providers to focus on strategies such as faster delivery processes, mass customization, and personalization. Mass customization and personalization are gradually gaining momentum in the global portable cooler market, mainly due to technological advances, additional features and equipment, shapes, sizes, colors, etc.
Additionally, the increased participation in outdoor activities coupled with the increased visibility of special sporting events has increased the demand for customized portable coolers. Hence, increasing focus on portable coolers customized as per customer activities and requirements is expected to drive the growth of the global portable cooler market during the forecast period.
A long product life cycle is a challenge that affects the growth of the market. Portable coolers from top-quality brands don't need to be replaced often. Major companies operating in the US and other parts of North America must comply with American National Standards Institute (ANSI) safety standards and other quality-related standards. Therefore, by adhering to these standards, portable cooler manufacturers produce high-quality products with long replacement cycles.
Moreover, high acquisition costs and long replacement cycles impact the market growth. Leading portable cooler players offer product guarantees and warranties to further extend the life of their products. Therefore, the long replacement cycle limits the frequent sales of portable coolers, thereby hindering the growth of the global portable coolers market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Portable Coolers Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AO Coolers: The company offers portable coolers such as carbon series STOW N GO HD, canvas series 24 pack cooler and canvas series 36 pack cooler.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The hard-sided segment is estimated to witness significant growth during the forecast period. Hard-sided coolers are commonly used by campers, athletes, and travelers. Compared to soft-sided coolers, hard-sided coolers can hold ice longer. Hardshell coolers have a higher storage capacity than soft-shell coolers. Hard-sided coolers are made of hard plastic or stainless steel. Therefore, it is also suitable for adverse weather conditions and can withstand some abrasive forces.
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The hard-sided segment was the largest segment and was valued at USD 2,750.33 million in 2017. Hard-sided coolers typically come in four sizes: 25, 50, 75, and 125 quarts, and can store ice for more than 5 days. Durable exterior materials such as rotomolded plastic protect contents from tailgating accidents during hunting and camping activities. These features make these portable coolers increasingly popular among residential, recreational, and commercial end users. Therefore, such factors are expected to drive the growth of hard shell portable coolers, which in turn is anticipated to drive the growth of the global portable coolers market during the forecast period.
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North America is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The increase in dual-income households in the region has led to increased investment in outdoor recreation products such as portable coolers. Urbanization is increasing the number of dual-income households, which is one of the key drivers of the North American portable cooler market.
Furthermore, the highly developed retail and e-commerce sector enables fast and efficient transportation of portable coolers throughout the supply chain to the final consumer, which is a key driver of market growth in the region. Many market players, such as YETI, Bison Coolers, ORCA, Newell Brands, and Dometic, have adopted an omnichannel strategy to sell their products. Additionally, the widespread adoption of online platforms such as Amazon and Alibaba is driving retail in the region. Hence, such factors are expected to drive market growth in this region during the forecast period.
The outbreak of COVID-19 in 2020 had a negative impact on the portable cooler market in North America. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown and travel restrictions. Furthermore, the raised focus on sustainability and the rising popularity of outdoor activities are anticipated to drive the growth of the North American portable coolers market during the forecast period.
The portable coolers market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Portable Coolers Market Scope |
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Report Coverage |
Details |
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Page number |
173 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 9.19% |
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Market growth 2023-2027 |
USD 3,570.11 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
8.89 |
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Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 41% |
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Key countries |
US, China, India, the UK, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AO Coolers, Bison Coolers, Cordova Outdoors LLC, Delta T Systems, Dometic Group AB, Engel Coolers, Felix Storch Inc., Indel B S.p.a., K2 COOLERS, Koolatron, Newell Brands Inc., ORION Machinery Co. LTD., Otter Products LLC, Pelican Products Inc., Polar Bear Coolers, Uber Appliance, and YETI Holdings Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Market Segmentation by Distribution Channel
9 Customer Landscape
10 Geographic Landscape
11 Drivers, Challenges, and Trends
12 Vendor Landscape
13 Vendor Analysis
14 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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