Foam Cooler Boxes Demand to Top US$ 2.98 Bn by 2031 amid Soaring Application in Pharmaceutical and Food & Beverages Industry: Study
As per Future Market Insights (FMI), sales of foam cooler boxes are set to expand by 1.9X between 2021 and 2031. Burgeoning demand for temperature-controlled packaging products is resulting in increased sales of foam cooler boxes.
Foam Cooler Box Market
A recent market report published by Future Market Insights on the foam cooler box market p...
Following the outbreak of COVID-19, pharmaceutical supplies and food & beverages products witnessed skyrocketing demand. In response to this, the consumption of temperature controlled packaging products escalated during the FQ-20.
Increasing development of vaccines, lifesaving drugs, and other essential pharmaceutical ingredients improved the demand for temperature-controlled products for safe transportation. Hence, the outbreak of COVID-19 and need for safe packaging solutions have stimulated the demand for foam cooler boxes.
Rising awareness regarding preservation of food items to increase their shelf lives and decrease the overall wastage is encouraging manufacturers to opt for foam cooler boxes. Improper storage and transportation facilities might results in damaged food products, causing losses in the food industry.
As consumers are demanding fresh food to be delivered to their doorsteps, leading food brands and suppliers are increasing the adoption of foam cooler boxes to offer a longer shelf life.
Foam cooler boxes will therefore remain highly sought-after for packaging in dairy products, frozen meat, seafood and other such items including fruits & vegetables.
Key Takeaways from Foam Cooler Box Market
- The foam cooler boxes having a capacity of above 150 Quart are anticipated to register growth at 8.1% CAGR between 2021 and 2031.
- Large-sized foam cooler boxes are gaining traction among exporters and supply chain partners, due to a decrease in overall transportation and packaging costs incurred by key end-users.
- Presence of leading pharmaceutical companies along with increasing production of COVID-19 vaccines in the U.S. are accelerating demand for foam cooler boxes. The U.S. is projected to offer a total incremental opportunity of US$ 211 Mn over the upcoming decade.
- Sales of foam cooler boxes made up of polyurethane are estimated to grow by 1.9X compared to 2020 market value over the forecast period.
- Germany will account for 15.3% of total sales of foam cooler boxes across the Europe foam cooler box market.
- In terms of end-use, pharmaceutical industry offers incremental opportunity of US$ 704 Mn between 2021 and 2031.
“Surging adoption of frozen food items and focus on development of pharmaceutical drugs are stimulating the demand for foam cooler boxes across the globe. Manufacturers are offering disposable and re-usable product options for foam cooler boxes, creating billion dollar sales opportunities in the market,” says FMI analyst.
Foam Cooler Box Market Landscape
Some of the key players operating in the global industrial packaging market are Yeti Coolers, LLC, Igloo Products Corporation, The Coleman Company, Inc, Sonoco ThermoSafe, Cool Ice Box Co Ltd, Coldchain Technologies, Inc, Plastilite Corporation, Pelican Products, Inc., MacNeill Pride Group (ORCA), Bison Coolers, RTIC Outdoors LLC, Koolatron US, Aohong Industry Co., Ltd., Rodman Plastics Company Ltd., and Carris Pipes & Tubes Pvt. Ltd.
Foam Cooler Box Market Report
Future Market Insights, in its new report, offers an unbiased analysis of the foam cooler box market, analysing historical demand from 2016-2020 and forecast statistics for 2021-2031. The study reveals growth projections on the foam cooler box market based on capacity (up to 25 quarts, 26-75 quart, 76-150 quart, above 150 quart), carrying method (side handles, lid handles, shoulder strap, wheel), material type (expanded polystyrene, expanded polypropylene, polyurethane, closed-cell polyethylene), end use industry (food & beverages, pharmaceutical, cosmetics & personal care, chemical and others) across seven regions.
About Packaging Division at Future Market Insights
The Packaging division at FMI provides an in-depth historical analysis and granular projections of the global packaging market. Ranging from packaging materials to designs & formats, FMI has an exhaustive market research database, serving clients with unique offerings and strategic recommendations. With a repository of 750+ reports, the team analyzed the packaging industry comprehensively in 70+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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