Global Soft Coolers Market Research Report 2024(Status and Outlook)

Global Soft Coolers Market Research Report 2024(Status and Outlook)

Report Overview

Soft-sided coolers are typically made of a durable nylon shell holding foam insulation, which is lighter and more portable. This is not only great for long drives and camping trips, but it's also an excellent option for going to the gym, work, or the golf course. They come in a wide variety of colors, sizes, materials, and capacities.

The global Soft Coolers market size is projected to reach US$ 1166.38 Million by 2028, from US$ 712.27 million in 2021, at a CAGR of 6.27% during 2022-2028. The device is very versatile and perfect for everyday use. The irreplaceability of soft coolers relative to hard coolers makes it a huge market. On the other hand, the key driver for soft coolers is the growing popularity of outdoor activities such as camping. The ability of soft coolers to help carry processed and fresh fruits, dairy products, vegetables and other perishable foods at outdoor events while maintaining the temperature of beverages can help attract more consumers. Therefore, against the backdrop of the expansion of the market for outdoor activities such as camping, the emergence of more usage scenarios for coolers will greatly promote the development of the cooler market.

Increasing adoption of soft coolers by younger generation as they are more oriented toward outdoor activities and coolers that help enhance the outdoor experience is expected to continue to drive market growth in the near future. Young people have a high demand for new tastes and a low budget for travel, and they are also the main users of camping activities. Hence, increasing participation in this age group drives the demand for camping related equipment.

Rising production of innovative products for soft coolers is emerging as an opportunity for market growth. In addition, the multiple uses of coolers, the improvement of camping-related infrastructure, the rapid growth of e-commerce channels for camping equipment, the rapid growth of tourism and the vigorous development of the outdoor industry are all driving the expansion of the soft cooler market.

The promotion of biodegradable insulated coolers is becoming an important trend in the market. Market players are focusing on promoting biodegradable insulated coolers to sustain the global insulated coolers market. The widespread use of non-biodegradable insulated coolers made from polystyrene and Styrofoam end up in bioactive landfills, negatively impacting the environment. Hence, biodegradable insulated coolers are gaining massive traction in the global market amid rising consumer intolerance towards plastic usage and growing awareness towards eco-friendly products. Market players are focusing on promoting biodegradable insulated coolers to sustain the global insulated coolers market.

Unlike many other industries, COVID-19 has had a positive effect on the soft cooler market. From the perspective of mentality, the epidemic has made people pay more attention to their physical health and increase their enthusiasm for participating in outdoor activities and physical exercise. In the questionnaire evaluation of five categories of sports including team sports, fitness, outdoor sports, individual sports and racket sports, the respondents believed that outdoor sports were least affected by the epidemic restrictions, which can also be seen in the national fitness report of SFIA in the United States By the end of 2020, the national outdoor participation rate will increase significantly by 2.2pct to 52.9%, which is much higher than the historical level since 2006.

In 2021, the governments of various countries have further relaxed the control of the epidemic. Except for certain restrictions on gathering and contact large-scale outdoor activities and competitions in some countries, non-gathering outdoor sports events and venues have basically opened up. On the other hand, during the epidemic, in order to prevent the impact of the epidemic on the economy and life, European and American countries generally issued epidemic subsidies to promote consumption. With the rise of Amazon and other e-commerce during the epidemic, sellers from China and other production places provided a large number of cheap Wumart's outdoor products will benefit the outdoor industry together.

Segment by Type, the Soft Coolers can be split into Up to 20 Cans, 21–30 Cans, etc. 21-30 Cans and 31-50 Cans two types of products together dominate the overall soft cooler market. In 2021, the combined market share of the two markets will account for more than 66%. The market size of the Up to 20 Cans type will grow at the highest rate during the forecast period, reaching a CAGR of 7.44%. Portability will be the main driver of this trend.

According to the application scenarios, soft coolers can be divided into Camping, Fishing, Hiking, Picnic, Others and other departments. In the overall market, the market share of the camping segment market size in 2021 is 36.31%, contributing the highest proportion of revenue. As a professional and recreational activity, camping satisfies the imagination of many people for outdoor sports. The low barrier to entry for camping also makes it easy for crowds to get involved. The soft cooler is a good choice for short-term hiking and camping due to its low cost, easy portability, and easy storage. During the forecast period, the camping segment will still show the dominant trend, while the market size of the Picnic segment will grow at the highest CAGR of 7.68%.

On basis of geography, the Soft Coolers market is segmented into North America, Europe, Asia-Pacific, South America, Middle East and Africa, etc. North America will hold the leading share and continue during the forecast period. For example, according to the ""Camping Statistics 2020"" data released by Condorferries.Co.UK, in 2018, in the United States, the number of households who decided to go camping increased by 4 million to approximately 78.8 million. Moreover, the popularity of vacation travel among the population in the region is likely to spike the consumption rate. For example, according to data released by the US Travel Org, in 2018, more than half of the US population marked 768 million days as vacation time in their schedules. The European state is estimated to hold a significant share in the soft cooler market owing to booming travel and tourism industry. For example, according to data released by the World Travel and Tourism Council, in 2018, the travel and tourism industry was assessed as contributing 9.7% of the GDP of the European economy. In addition, the large number of famous beaches in the area, such as Nerja Beach in Spain, Cape de lastis in Greece, Bestoian Beach in France, etc., are increasingly attracting more people, thus creating an attraction. This is due to an increase in the number of outdoor beach activities.

At present, the concentration of the soft cooler market is not high, and the manufacturers in it are still in fierce competition. In 2021, according to our calculations, the indicators CR5 and HHI used to measure market concentration will be 63.60% and 12.44% respectively, slightly higher than the level in 2020, and will continue to grow in 2022. This indicates that the concentration of the soft cooler market is gradually increasing. Companies in the soft cooler box market are focusing on developing innovative soft coolers with aesthetic features such as efficient cooling system that will help enhance their competitive advantage and subsequently increase their market share. Some companies are investing in research and development to enhance their product portfolio with innovative products, which will help them increase profitability. Key players in the market include YETI, Igloo, Coleman (Esky), CleverMade, California Innovations Inc, Pelican, OtterBox, TOURIT, Outdoor Active Gear, RTIC Outdoors LLC, Gathr Outdoors, Lifewit, AO Coolers, Cordova Coolers, HydroFlask, Bison Coolers , Polar Bear Coolers, Grizzly, K2 coolers.

This report provides a deep insight into the global Soft Coolers market covering all its essential aspects. This ranges from a macro overview of the market to micro details of the market size, competitive landscape, development trend, niche market, key market drivers and challenges, SWOT analysis, value chain analysis, etc.

The analysis helps the reader to shape the competition within the industries and strategies for the competitive environment to enhance the potential profit. Furthermore, it provides a simple framework for evaluating and accessing the position of the business organization. The report structure also focuses on the competitive landscape of the Global Soft Coolers Market, this report introduces in detail the market share, market performance, product situation, operation situation, etc. of the main players, which helps the readers in the industry to identify the main competitors and deeply understand the competition pattern of the market.

In a word, this report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Soft Coolers market in any manner.

Global Soft Coolers Market: Market Segmentation Analysis

The research report includes specific segments by region (country), manufacturers, Type, and Application. Market segmentation creates subsets of a market based on product type, end-user or application, Geographic, and other factors. By understanding the market segments, the decision-maker can leverage this targeting in the product, sales, and marketing strategies. Market segments can power your product development cycles by informing how you create product offerings for different segments.

Key Company

YETI

Igloo

Coleman (Esky)

CleverMade

California Innovations Inc

Pelican

OtterBox

TOURIT

Outdoor Active Gear

RTIC Outdoors LLC

Gathr Outdoors

Lifewit

AO Coolers

Cordova Coolers

HydroFlask

Bison Coolers

Polar Bear Coolers

Grizzly

K2 coolers

Market Segmentation (by Type)

Up to 20 Cans

21-30 Cans

31-50 Cans

More than 50 Cans

Market Segmentation (by Application)

Camping

Fishing

Hiking

Picnic

Others

Geographic Segmentation

North America (USA, Canada, Mexico)

Europe (Germany, UK, France, Russia, Italy, Rest of Europe)

Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)

South America (Brazil, Argentina, Columbia, Rest of South America)

The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)

Key Benefits of This Market Research:

Industry drivers, restraints, and opportunities covered in the study

Neutral perspective on the market performance

Recent industry trends and developments

Competitive landscape & strategies of key players

Potential & niche segments and regions exhibiting promising growth covered

Historical, current, and projected market size, in terms of value

In-depth analysis of the Soft Coolers Market

Overview of the regional outlook of the Soft Coolers Market:

Key Reasons to Buy this Report:

Access to date statistics compiled by our researchers. These provide you with historical and forecast data, which is analyzed to tell you why your market is set to change

This enables you to anticipate market changes to remain ahead of your competitors

You will be able to copy data from the Excel spreadsheet straight into your marketing plans, business presentations, or other strategic documents

The concise analysis, clear graph, and table format will enable you to pinpoint the information you require quickly

Provision of market value (USD Billion) data for each segment and sub-segment

Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market

Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region

Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled

Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players

The current as well as the future market outlook of the industry concerning recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions

Includes in-depth analysis of the market from various perspectives through Porter’s five forces analysis

Provides insight into the market through Value Chain

Market dynamics scenario, along with growth opportunities of the market in the years to come

6-month post-sales analyst support

Chapter Outline

Chapter 1 mainly introduces the statistical scope of the report, market division standards, and market research methods.

Chapter 2 is an executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the Soft Coolers Market and its likely evolution in the short to mid-term, and long term.

Chapter 3 makes a detailed analysis of the market's competitive landscape of the market and provides the market share, capacity, output, price, latest development plan, merger, and acquisition information of the main manufacturers in the market.

Chapter 4 is the analysis of the whole market industrial chain, including the upstream and downstream of the industry, as well as Porter's five forces analysis.

Chapter 5 introduces the latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.

Chapter 6 provides the analysis of various market segments according to product types, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.

Chapter 7 provides the analysis of various market segments according to application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.

Chapter 8 provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and capacity of each country in the world.

Chapter 9 introduces the basic situation of the main companies in the market in detail, including product sales revenue, sales volume, price, gross profit margin, market share, product introduction, recent development, etc.

Chapter 10 provides a quantitative analysis of the market size and development potential of each region in the next five years.

Chapter 11 provides a quantitative analysis of the market size and development potential of each market segment (product type and application) in the next five years.

Chapter 12 is the main points and conclusions of the report.