The global camping cooler market is projected to reach USD 1.05 billion by 2025 and registering a CAGR of 6.4% during the forecast period, from 2018 to 2025, according to a new report by Million Insights. The market is projected to witness significant growth during the forecast period due to emergence of new technologies for developing chillers coupled with increasing trend to spend leisure time in outdoor activities.
The camping cooler is expected to gain traction among millennials due to increasing their participation in numerous recreational activities including hiking backpacking, and mountain biking. This factor is expected to boost the demand for camping coolers in the next few years.
According to Outdoor Industry Association’s report, in 2017, consumer spending on outdoor activities accounted for USD 887 billion annually in North America which is higher than spending on essential amenities such as fuel, education, and medical care.
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Industry players operating in this market manufactured assemble parts from third-party manufacturers and assemble them with distinctive technology like thermoelectric cooling to develop end-product. For example, Yeti Coolers, LLC outsources this cooler parts form its partners including Solar Plastics, Inc. and Hedstrom Plastics in order to manufacture rotomolded chillers.
Key market players engaged in retail through distribution channels like brick & mortar and e-commerce. For example, in 2017, Yeti Coolers, LLC introduced its retail store in Texas in order to expand its business and regional footprint. The store gives an immersive experience for creating brand awareness and reputation among customers which directly affects the purchasing decisions of customers. In addition, it offers a wide range of products with attractive appearance.
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Further key findings from the report suggest:
• The 50-75 quarts volume segment is estimated to account 38.0% market share by the end of 2025.
• In 2017, the soft cooler product segment generated revenue of USD 175 million.
• Among applications, the dry camping is expected to gain around 35.0% market share by the end of projected period, from 2018 to 2025.
• In 2017, North America dominated the global camping coolers market and anticipated to retain its position over the forecast period.
• Engle Coolers, Grizzly Coolers, AO Coolers, Bison Coolers, Igloo Products Corp., and Outdoor Active Gear are major players operating in this industry.
Million Insights has segmented the global camping cooler market on the basis of volume, product, and application.
Camping Cooler Volume Outlook (Revenue, USD Million, 2014 – 2025)
• • 25-50 quarts
• 50-75 quarts
• 75-100 quarts
• >100 quarts
Camping Cooler Product Outlook (Revenue, USD Million, 2014 – 2025)
• Hard coolers
• Soft coolers
Camping Cooler Application Outlook (Revenue, USD Million, 2014 – 2025)
• Dry camping
• Off-road/RV camping
Camping Cooler Regional Outlook (Revenue, USD Million, 2014 – 2025)
• North America
• The U.S.
• The U.K.
• Asia Pacific
• Australia & New Zealand
• Southeast Asia
• Latin America
• Middle East & Africa
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