The global camping cooler market size was worth around USD 852.34 Billion in 2022 and is estimated to grow to about USD 1398.62 Billion by 2030, with a compound annual growth rate (CAGR) of approximately 7.12 percent over the forecast period of 2023-2030.
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➤ The market growth is being driven by the increase in the number of individuals who camp.
A significant factor contributing to the expansion of the global camping refrigerator market is the desire of individuals to travel. Picnics, trekking, hiking, camping, sports, and fishing are all becoming increasingly popular among individuals. Consequently, there is a heightened demand for camping refrigerators, as they ensure the preservation and cooling of food, canned beverages, and cold beverages. Additionally, individuals are more inclined to allocate funds toward leisure activities, including camping, as their lifestyles evolve and their standard of living improve. Consequently, the demand for camping refrigerators is on the rise as a result of the necessity to store food and beverages.
➤ The market development may be impeded by the low market penetration in low-income countries.
It is probable that the camping cooler market will be impeded by a lack of demand or a low demand for camping coolers in developing and underdeveloped countries. People in emergent countries have limited spending power as a result of their low income, and as a result, they do not intend to allocate additional funds to leisure activities such as trekking or camping. Furthermore, the market expansion is also being restricted by the reduced amount of travel and tourism in these countries.
➤ The market is anticipated to be stimulated by camping refrigerators that are equipped with sophisticated features during the forecast period.
The manufacturers of camping refrigerators are making significant investments in the technology sector to enhance the product with cutting-edge features. Consequently, the market growth potential is being presented by the increasing development of innovative items that include solar power, USB connections, Wi-Fi connectivity, and other features during the forecast period. Furthermore, the market is anticipated to experience growth due to the availability of electric coolers that feature a diverse selection of high-performance powered cooling devices. Additionally, there are three distinct outdoor cooling systems to choose from: thermoelectric, absorption, or compressor, dependent on the duration of your stay.
➤ The development of the market is threatened by the limitations of camping coolers.
The camping cooler’s aluminum hanging containers, which are designed to ensure that the food is kept dry and away from ice, appear to be corroding. This is a significant drawback. There is an additional issue with the camping cooler: it is lacking in variety. These factors may pose a challenge to the market’s expansion. Additionally, the market’s expansion may be hindered by the necessity of ice cubes, limited temperature control, and the absence of freezing alternatives.
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The Global Camping Cooler Market is segmented based on product, application and region
Global Camping Cooler Market: Product Segment Analysis
● Thermoelectric Cooler
● Hard Cooler
● Soft Cooler
Global Camping Cooler Market: Application Segment Analysis
● Backyard and Car Camping
● RV Camping
● Backpacking
● Ship & Fishing
● Others
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The global Camping Cooler market profiles key players such as:
● The Coleman Company Inc.
● Yeti Coolers
● Pelican Products Inc. LLC.
● Engel Coolers
● Polar Bear Coolers
● ORCA
● K2 Coolers
● Cordova Outdoors
● Rubbermaid
● Koolatron US
● RTIC Web Services
● AO Coolers
● Igloo Products Corp.
● Outdoor Active Gear
● Bison Coolers
● Grizzly Coolers
???? Recent Developments
• A new product line was introduced by Yeti at the 2020 Outdoor Retailer Snow Show in May 2020. This line includes a high-end V Series Cooler, a robust new camp chair, and revised colors for some of its famous drinkware.
• Dometic Group AB, a publicly traded Swedish outdoor manufacturer, acquired Igloo Products Corp. from private equity firm ACON Investments in September 2021 for $677 million. By acquiring Texas-based Igloo, Dometic, a Swedish company, enhances its distribution network and product offerings in the refrigerator category.
➤ The global market will be dominated by North America, which will have the maximum market share.
The global camping refrigerator market is primarily dominated by North America, with a market share exceeding 45%. This is a result of the consistent increase in the number of travelers who opt for leisure activities and trekking. Additionally, the camping cooler market will experience an even faster growth rate during the projected period due to the convenience of promoting and selling chillers and related products within the region, as opposed to brand marketing in other regions.
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