A camping cooler is a sub segment of sporting goods and outdoor equipment industry. It is a camping accessory that ensures the safety of food and drinks. It is majorly used in excursions, where there is a need to stock food and drinks for multiple days. It is used for outdoor activities such as picnic, camping, and hiking. It helps in keeping the food and beverages cold and safe. Other coolers are not portable and thus not suitable for the above mentioned outdoor activities. While the other coolers need electricity, are heavy and expensive, the camping cooler stands out in the market due to its convenience, easy mobility, and cheap prices. The camping coolers market is expected to experience significant growth during the forecast period due to changes in lifestyles and increase in outdoor activities.
COVID-19 Scenario Analysis:
Outdoor equipment and the sports goods industry is one of those industries which is majorly hit by Covid-19.
Lockdown, closure of borders, and curfew have just worsened the blow for this industry.
All the traveling and recreational activities have been put to hold to deal with this pandemic situation.
Health safety issues have forced everyone to stay at home, severely hitting the camping cooler or any other sports equipment market.
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Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
The prime factor that drives the growth of the global camping cooler market include interest in traveling among the people. There is an increase in the outdoor activities such as camping, fishing, sports, hiking, trekking, and picnic among the people. This increases the need for camping coolers. Because while traveling, when people take a break, they prefer having cold beverages, snacks, and canned drinks; and this cooler helps to keep the food cold and safe.
Further, owing to changes in lifestyle and increase in standard of living, people tend to spend on recreational activities, which includes camping. Thus, there is a need for camping cooler, which can take care of the food and drinks needed during this activity. This increases the sale of camping coolers in the market.
The top three manufacturers of the world—Igloo, Yeti, and Colemen Coolers make up to 57% of the market share for camping coolers. With this, the world's largest enterprises are mainly concentrated in the U.S. In 2013, camping was ranked as one of the top five outdoor activities preferred by young people in the U.S. This in turn is expected to boost the growth of the camping coolers market.
The major drawback of the camping cooler is the aluminum hanging tray that is present inside the cooler to keep the food dry and away from ice, tends to rust. Another factor is that there is less diversification in the camping cooler. These together limit the growth of the camping cooler market.
Although many manufactures have started to give a rust-free alternative for the aluminum hanging tray, there is still lack of adoption of these innovative designs in the market. Therefore, innovation in camping coolers along with focusing on international presence can be seen as a great opportunity for the manufacturers of camping coolers. Accessing competitive advantage and concerning more on services can increase the market share.
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Key Benefits of the Report:
This study presents the analytical depiction of the global camping cooler industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global camping cooler market share.
The current market is quantitatively analyzed to highlight the global camping cooler market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed global camping cooler market analysis based on competitive intensity and how the competition will take shape in coming years.
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Questions Answered in the Camping Cooler Market Research Report:
What are the leading market players active in the camping cooler market?
What the current trends will influence the market in the next few years?
What are the driving factors, restraints, and opportunities in the market?
What future projections would help in taking further strategic steps?
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