Bizizz Market Research has recently published a research report, “Insulated Cooler Market By Capacity Type (Below 25 Quart, 26-75 Quart, 76-150 Quart, and Above 150 Quart), Product (Hard Coolers and Soft Coolers), Carrying methods (Side Handles, Lid Handle, Shoulder Strap and Wheel), Component, and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Insulated Cooler Market was valued at US$ XX Bn in 2018 and it is anticipated to reach at market value of US$ 1 Bn by 2027, witnessing a CAGR of 6.6 % during the forecast period. Key drivers of the market are increasing outdoor activities of the customers along with light weight chillers are propelling its market growth.
The rise in the number of out-door adventurous are contributing to the market growth of insulated coolers products. Moreover, advanced technological features in the manufacturing of lesser weight insulated coolers are propelling the demand of insulated coolers by the customers. Along with the capabilities of these advanced chillers to maintain the ice for longer duration is propelling its market growth. There is a significant number of increase in the outdoor campaign activities along with the rental services companies offering them with different benefits are propelling its market growth.
The Insulated Cooler market is anticipated to register a CAGR of over 6.6% during the forecast period.
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By Product, Hard cooler segment held a prominent share in Global Insulated Cooler Market in 2018.
The hard cooler segment is leading in its market demand that has been accounted for 75% of the global market. The hard coolers have significant advantages includes its higher durability and cooling performance that is leading in the market demand globally. Moreover, the hard cooler market is expected to surpass US$ 507 Mn by 2020. The manufacturers offering hard insulated coolers are attaining profitable margins by an increased demand of these products especially in the developed countries. This could be attributed to the increased purchasing power of the customers in the developed nations.
North America is Anticipated to Dominate the Global Insulated Cooler Market during the Forecast Period.
The demand for insulated cooler products is increasing in the North American region and it is accounted for 72% of the market share globally. The region is also anticipated to offer technologically advanced insulated cooler products in catering to the various needs of customers that are offered by the manufacturers. The region is also having significant number of camping activities that is propelling its market demand.
Global Insulated Cooler market key players considerably offering technologically advanced products that would be accounting for significant market demand during the forecast period.
Prominent players operating in the Global Insulated Cooler Market are: Grizzly Coolers, Ao Coolers; Coleman Company Inc.; Outdoor Active Gear; Yeti Coolers, LLC., Igloo Products Corp.; Pelican Products Inc. and Bison Coolers, among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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