The rising outdoor recreational activities among people from Europe and North America is offering a lucrative opportunity to the camping and outdoor equipment industry. An insulated cooler is a significant segment in camping and outdoor equipment as it facilitates efficient storage for food and beverage products. In the insulated cooler market, retailers are significant value chain participants due to the high revenue generation from the indirect sales channel.
As the need for high durability, the rotational molded process is estimated to be highly adopted for manufacturing insulated cooler. Lightweight and longer duration for retain ice are two key consumer preferences to choose the insulated cooler. Folding and collapsible insulated cooler are estimated to be popular among millennials due to easy handling compact design.
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Global Insulated Cooler Market: Dynamics
The technological advances in the insulated cooler are inspiring consumers to shift from outdated coolers with newer designed insulated cooler. The rising consumer spending and improved focus on ease during camping and outdoor activities are anticipated to be critical factors in the growth of the insulated cooler market. Rising beverages consumption during outdoor activities is attributed to expanding the insulated cooler market. A biodegradable insulated cooler is gaining traction in demand owing to increased intolerance for plastic use and low-cost offerings.
The product launch is estimated to be the key strategy among the key players of insulated cooler market to sustain in the competition. The threat of new entrants in the global insulated cooler market is maximum owing to the high market penetration of several key players and the dominance of leading brands. Adoption of the insulated cooler for promotional purpose is increased by the companies related to camping, outdoor activities, and beverages.
Global Insulated Cooler Market: Geographical Outlook
The United States is estimated as a dominating country for the insulated cooler in terms of production and demand. The United States insulated cooler market is expected to be forefront due to a high growth of camping and outdoor activities. Insulated cooler with multiple functions is projected to witness a gain in market share in the next decade. Germany, France, and the United Kingdom are playing a vital role in the development of European insulated cooler market. Key players of insulated cooler market are looking forward to introducing their products in East & South Asia due to lucrative market opportunity. Brazil and Mexico are estimated as major insulated cooler market in Latin America.
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Global Insulated Cooler Market: Recent Developments
Some of the recent developments in global insulated cooler market are as follows:
- In August 2019, Yeti launched the Hopper M30, the soft cooler, featured with a new leak-resistant HydroShield magnetized closure.
- In April 2019, Igloo launched biodegradable cooler (made up by molded pulp) to reduce Styrofoam use in coolers.
- In 2018, Yeti introduced ‘BackFlip’ cooler backpack with HitchPoint grid system which offers to clip other accessories.