Growing Popularity
of Outdoor Recreational Activities Contributes to The Growth of The
Ice Box Market
Picnics, out camping and fishing
are popular outdoor activities that people prefer to spend time with their
friends and family. According to a 2021 research conducted by the American
Lamb Board, after the COVID-19 pandemic, one in every two individuals in the
United States would prefer a happy hour picnic than a happy hour at a bar.
Outdoor activity was described as a "lifesaver" by 7 out of 10 people
in the country for keeping things fun throughout the pandemic. According
to the 2022 North American Camping Report, over 93.8 Mn North American families
considered themselves campers in 2021. Camping accounted for 40% of all leisure
vacations taken in 2021, with more than half of travellers (53%) included
camping in part or all of their travel. Leisure travellers who might otherwise
stay at home have chosen camping as a preferred mode of transportation, and
many have indicated that camping would be part of their plans in 2022 and
beyond. According to the Kampgrounds of America, Inc. Research Report, another
record year is expected, with 58 Mn households camping at least once. This
number represents a 2% rise over the previous record of 56.9 Mn camping
households in 2021. As a result, the growing popularity of outdoor activities
is expected to drive ice box market growth in the coming years.
International
Organisations' Safety Guidelines Are Expected to Encourage Demand of Ice Boxes
The pharmaceuticals
segment is anticipated to increase at a higher rate during the
forecast period since pharmaceutical goods are often temperature-sensitive
and require consistent low or freezing temperatures. The rising
pharmaceutical industry's requirement for a portable, sustainable and
user-friendly option to store medications, blood, organs, vaccines and
other supplies is driving up the need for ice boxes. Furthermore, by using
these ice boxes, pharmaceutical businesses can comply to WHO regulations for
maintaining a specific temperature while storing medicinal supplies. These
boxes, on the other hand, can withstand temperatures ranging from 2° to 8° C.
Expansion of The
E-Commerce Sector Has Accelerated Market Growth
E-commerce platforms make it easy
for consumers to compare multiple ice box types and brands, read reviews
and make compare purchase selections. As consumers prefer products that
are supposed to last longer and perform better, this drives consumer demand for
better-quality and more durable ice boxes. Due to their great efficiency
and solid exterior, reusable ice boxes are preferred over other types of boxes.
They are more affordable and long-lasting than disposable ice boxes. During the
forecast period, these factors will drive ice box growth.
Ice Boxes Market Companies Should Focus on
Adhering to Stringent Environmental Norms and Regulations
In response to increasing
concerns about the adverse effects of packaging waste, governments all over the
world have enacted stringent legislation. For example, the Indian government
revised its plastic waste management legislation on June 26, 2020. Standard
tests have been carried out to ensure the capacity of packaging systems to
maintain the temperature range required by those requirements, in accordance
with International Safe Transport Association standards, which are concerned
with packaging, storage and transportation of goods. The European Commission's
packaging guidelines have also resulted in the imposition of high recycling
standards as countries seek innovative methods to decrease packaging waste. As
a result, increased environmental consciousness and effective disposal of waste
are limiting the market's growth. Polystyrene coolers are seen adversely since
the majority of the material's products are discarded in landfills. Polystyrene
is made up of several units of styrene, which is considered to be carcinogenic.
In February 2023, B Medical
Systems announced that its RCW25 transport box has been certified by CERTICOLD
Pharma in compliance with EU Good Distribution Practises.
Cold Chain Technologies, LLC
established an agreement with Air Cargo Belgium in July 2022 to increase its
footprint in EMEA.
Coleman Company, Inc. introduced
the 316 Series 70-Quart Hard Cooler in 2022, which has a completely insulated
cover and body and can store ice for up to 5 days at temperatures as high as
90°F.
Sonoco, a worldwide leader in
different packaging, intends to expand Sonopost cornerpost production with a
new factory in Bursa, Turkey, in November 2022.
Bison Coolers, Cold chain
Technologies Inc, Colemon Company Inc, Cool Ice Box Company, Feurer GmbH, Grizzly
Industrial, Koolatron and Wild Coolers are some of the prominent market players
operating in the global ice boxes market.
Asia-Pacific Ice Box
Market Is the Fastest Developing Region
Asia-Pacific is projected to be
the fastest-growing region throughout the forecast period, with the
largest growth in revenue in the ice box market. This is due to increased
demand for cold storage and shipment in countries such as China and India. Asia-Pacific
nations are also expanding their present manufacturing sector capacity to meet
large-scale ice box agreements. For example, B Medical Systems constructed
a manufacturing unit in Gujarat, India in December 2020 to produce cold chain
products and meet the increased demand for vaccine cold chain products. With
consumers becoming more aware of the benefits of utilising ice boxes, the
ice box market is expected to grow in developed countries such as Japan
and South Korea. Furthermore, the market for ice boxes is expected to benefit
from the growing demand for sustainable and energy-efficient cooling solutions.
The government is also raising awareness about the need of high-quality
pharmaceutical and food products.
The report provides a detailed
overview of the ice boxes market insights in regions including North America,
Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and Africa.
The country-specific assessment for ice boxes market has been offered for all
regional market share, along with forecasts, market scope estimates, price
point assessment, and impact analysis of prominent countries and regions.
Throughout this market research report, Y-o-Y growth and CAGR estimates are
also incorporated for every country and region, to provide a detailed view of
the ice boxes market. These Y-o-Y projections on regional and country-level
markets brighten the political, economic and business environment outlook,
which are anticipated to have a substantial impact on the growth of the ice
boxes market. Some key country and region included in the ice boxes market
report as follows:
North America (U.S., Canada)
Latin America (Mexico, Argentina,
Brazil, Peru, Chile)
Europe (Germany, France, Italy, U.K.,
BENELUX, Nordics, Spain, Poland, Russia, CIS)
Asia Pacific (China, ASEAN, India,
Japan, South Korea)
Oceania (Australia, New Zealand)
Middle East and Africa (South
Africa, GCC Countries, Turkey, Israel, Iran)
The Ice Boxes Market Research Report Covers
In-depth Analysis on:
·
Ice boxes market segments
·
Ice boxes market dynamics
·
Ice boxes market value and share analysis
·
Recent trends, restraints, opportunities in ice
boxes market
·
Companies & competition involved ice boxes
market
·
Latest technologies in ice boxes market
·
Supply chain and value chain ice boxes market
·
Ice boxes market sales and distribution
strategies
Ice Boxes Market Growth Highlights:
·
A comprehensive overview of parent market
·
Market dynamics, demand and trends in the
industry
·
Current, historical and anticipated market size in
terms of volume
·
In-depth market segmentation
·
Competition landscape
·
Key strategies of leading companies and product
portfolio
·
Ice boxes industry trends and developments
·
Potential and country, regions and segments
exhibiting future growth
·
A detailed viewpoint on ice boxes market forecast
by countries
·
Essential information to enhance market position
Away from Home Tissue Products Market - Forecast, COVID -19 Impact, Trend Analysis & Competition Tracking - Global Market Insights 2015-2030
Hair Styling Products Market - Forecast, COVID -19 Impact, Trend Analysis & Competition Tracking - Global Market Insights 2019-2034
E-cigarettes Market - Forecast, COVID-19 Impact, Trend Analysis & Competition Tracking - Global Insights 2019-2034