One of the main factors propelling the market's expansion is the demand for EPS coolers from the food and beverage sector. EPS coolers are being used by businesses more frequently to ship and store goods, particularly perishables, in a secure manner. The demand for EPS coolers has expanded along with the demand for frozen food since these coolers guarantee product temperature control during shipping. Additionally, the usage of EPS coolers decreases product damage during transit and delivery time.
In the medical sector, EPS coolers are essential for the safe transportation and storage of medical supplies such as vaccinations, reagents, medications, and other pharmaceuticals. In order to keep the product stable until it reaches its destination, temperature control is used during delivery. Furthermore, due to their ability to lower the danger of product contamination, EPS coolers have grown in popularity among food processing businesses and caterers. Additionally, they contribute to enhancing perishable product protection during transit, lowering the risk of spoilage-related losses.
Due to their lightweight construction, which lowers the cost of shipping and transportation, EPS coolers are becoming more and more common. They are perfect for safely and securely keeping things because they are sturdy enough to withstand external pressures and impacts. Additionally, EPS coolers are durable and have a long lifespan. They can also keep things at a consistent temperature for a long time and are moisture-resistant.
Expanded Polystyrene (EPS) coolers are boxes or shells made of the lightweight, strong material EPS foam. They are mostly used to ship goods safely and securely in the food and beverage industries. These containers' exterior walls act as insulation against fluctuations in outside temperature, keeping the product within stable at a particular temperature. Additionally, EPS coolers are employed in the medical sector to guarantee the secure transport of medications and vaccinations.
The market for EPS "coolers" is anticipated to increase from USD 2.24 billion in 2021 to USD 3.92 billion by 2031, at a compound annual growth rate (CAGR) of 7.0%.
The need for EPS coolers from the food and beverage industries, increased environmental concerns, and an increase in the frequency of disease outbreaks globally are driving the market's expansion.
One of the main things impeding the market's expansion is the expensive price of making EPS coolers. The market's growth is also being constrained by high raw material costs and strict environmental restrictions. The availability of substitutes like cardboard and plastic coolers is another factor that is restraining growth. But it's anticipated that increased efforts to cut production costs will provide players additional chances. The market is expanding as a result of an increase in demand from various industries for EPS coolers. These containers have a number of benefits, including being lightweight, providing insulation from temperature variations outside, being moisture-resistant, and being easily reusable.
Covid-19 Impact & Market Status
The market for EPS "Coolers" has benefited from the COVID-19 pandemic. Due to an increase in home deliveries and online food orders during the pandemic, there was a ened demand for food and beverage products. Due to their insulation and moisture-resistant qualities, EPS coolers are also in higher demand due to the rising need for medical supplies including vaccinations, reagents, and medications. During the anticipated time frame, this aspect is anticipated to fuel market expansion.
Promotional EPS cooler segment to form major portion of the market
The market for promotional EPS coolers is anticipated to expand the fastest during the anticipated time frame. This can be attributable to an increase in demand from the food and beverage sector, which needs the high levels of insulation that EPS coolers offer. The market for promotional EPS coolers is expanding as a result of the growing trend of advertising campaigns via product packaging.
The Ship Food segment to be on top of the market
During the anticipated time, the ship food segment is anticipated to be the most lucrative and significant segment of the EPS coolers market. This is due to the rising demand for convenience goods, such as frozen foods, ready-to-eat meals, and snacks, which necessitates effective delivery methods. Additionally, the necessity for EPS coolers to convey food goods safely and securely is rising along with the demand for online meal delivery services.
Asia Pacific to dominate the market
The market in Asia Pacific is estimated to grow at the quickest rate during the forecast period. This is because demand is rising from countries like China, India, and Japan. Due to rising disposable income, the food industry is growing in these countries. Due to the need for safe and secure food product shipping, demand for EPS coolers has skyrocketed. The market in this region is expanding as a result of the rising number of disease outbreaks in the world.
Food and Beverage Industry to grow at a faster pace
During the projected period, the food and beverage industry is anticipated to increase at the fastest rate. This can be ascribed to the rise in popularity of convenience foods such as frozen foods, ready-to-eat meals, and snacks. Food items can be shipped safely and securely while yet maintaining their freshness thanks to the insulating capabilities of EPS coolers. Additionally, a rise in stores and supermarkets is contributing to the market's expansion.
Sealed Air Corporation, Cascades Inc., Sonoco Products Company, Huhtamaki Group, Amcor Limited, DS Smith Plc, UFP Technologies Inc., Intellipak LLC, Cooler Logistics LLC, and FFR Merchandising are the leading market participants for EPS "Coolers." To obtain a competitive edge in the market, these firms are concentrating on a variety of techniques such product launches, collaborations, expansions, and acquisitions.
Latest Innovations in the Global EPS “Coolers” Market: A Snapshot
• Sealed Air Corporation introduced new packaging options for e-commerce fulfilment applications in October 2020. Insulated shipping crates and coolers for frozen food were among the offered goods. It is anticipated that this launch will aid Sealed Air Corporation in bolstering its position in the EPS coolers market.
• Neopac introduced new polyfoil packaging options in June 2020 that are intended to safeguard goods while they are being sent. It is anticipated that the product will offer effective insulation, protection from temperature changes, and defence against moisture. Neopac will be able to solidify its position in the EPS coolers industry thanks to this introduction.
EPS “Coolers” Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2031||USD 3.92 billion|
|Growth Rate||CAGR of 7.0% during 2022-2031|
|Segment Covered||by Type, By End User, By Application , Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Sealed Air Corporation, Cascades Inc., Sonoco Products Company, Huhtamaki Group, Amcor Limited, DS Smith Plc, UFP Technologies Inc., Intellipak LLC, Cooler Logistics LLC, and FFR Merchandising|
Key Segments of the Global EPS “Coolers” Market
By Type Overview, 2021-2031 (USD Billion)
• Promotional EPS Coolers
• Thick Wall EPS Coolers
By Application Overview, 2021-2031 (USD Billion)
• Ship Medicines
• Ship Reagents
• Ship Food
By End User Overview, 2021-2031 (USD Billion)
• Food and Beverage Industry
• Pharmaceuticals Industry
By Regional Overview, 2021-2031 (USD Billion)
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
Middle East and Africa