Insulated Packaging Market Size, Share, Growth, Trends, Analysis— By Material (Glass, Plastic, Wood, Cupboard), Packaging type (Box & Container, Flexible Blanket, Bags, Wraps), Application (Food & Beverage, Industrial Goods, Personal Care), Region — Global Forecast Till 2023
Insulated Packaging Market Overview
Insulated packaging is done using materials possessing low thermal conductivity and heat resistance to preserve temperature-sensitive products. Insulated packaging is extensively used in the food & Beverage, pharmaceutical, chemical, and personal care products industry. Products in these industries are generally temperature-sensitive and might result in fire or explosion hazards if not handled properly. Market Research Future (MRFR) has recently published an in-depth report on the global insulated packaging market covering the essential accruals based on the key trend and patterns that could affect the market the over the forecast period of 2017-2023. MRFR has asserted that the insulated packaging market would expand at a CAGR of 5.68% during 2017-2023.
Insulated packaging offers various advantages such as high resistance to heat transfer by conduction, convection, or radiation, low moisture susceptibility, mechanical strength, durability, ease of transportation and fabrication, and others. Augmenting need for maintaining product quality and safety across various industries is propelling the growth of the market. Increasing disease prevalence and escalated level of awareness among consumers regarding food safety are also motivating the growth of the market.
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- TemperPack (U.S.)
- Davis Core & Pad Co.(U.S.)
- I. Du Pont De Nemours and Co. (U.S.)
- Sonoco Products Company (U.S.)
- American Aerogel Corporation (U.S.)
- Insulated Products Corp (U.S)
- Deutsche Post DHL (Germany)
- Amcor Ltd. (Australia)
- Huhtamaki OYJ (Finland)
- Thermal Packaging Solutions (Australia)
- Exeltainer (Spain) are the eminent players in the global insulated packaging market.
May 2019 – a premier packaging supplier in the UK, launched a new chilled packaging range to its product offerings. Its new insulated boxes launched by Kite have been produced from materials with insulating properties which are superior in performance than polystyrene. The outer layer of the packaging is made up of 00% recyclable Kraft paper, and the internal layer is made up of 100% biodegradable starch-based loose fill. The company has also launched its new insulated box liners which are composed of metallized polyester. They provide an interval of cushioning insulation and an inner HDPE foam layer offering high resistance against moisture and chemicals.
The global insulated packaging market has been segmented based on material, packaging type, and application.
By material, the insulated packaging market has been segmented into glass, plastic, wood, cupboard, and others. The plastic segment is exhibiting remarkable growth. Plastic packaging is useful for products that require to be stored under a controlled temperature and pressure range. The glass segment is also showcasing considerable growth. Glass finds extensive application in the packaging of products such as cosmetics, vaccines, and beverages where maintenance of properties and overall quality is crucial.
By packaging type, the insulated packaging market has been segmented into box & container, flexible blanket, bags, wraps, and others. The box & container segment is likely to expand over the forecast period. Box and containers are fit for packaging of pharmaceutical products and vaccines since they aid in the maintenance of quality and protect products from external damage. Rapid climatic change is expected to boost the demand for box & container packaging.
By application, the insulated packaging market has been segmented into food & beverage, industrial, personal care, healthcare, and others. The food & beverage segment is estimated to exhibit rapid growth and capture the largest share of the market over the forecast period. The expansion of the food & beverage sector due to rise in disposable income and changing lifestyle of consumers is expected to reflect positively on the growth of the segment.
Region-wise, the insulated packaging market has been segmented into North America, the Middle East & Africa (MEA), Europe, and Asia Pacific (APAC).
Insulated packaging is highly suitable for the tropical climate of APAC due to which insulated packaging is highly desirable in the region. The expanding pharmaceutical and food & beverage industry in the region are generating persistent demand for insulated packaging. Moreover, increased demand for ready-to-eat and convenience food in the region.
Europe is following APAC’s lead closely and accounts for a substantial part of the market’s revenue generation. Heightened focus on packaging to ensure consumer safety has driven the insulated packaging market considerably. Progress of the pharmaceutical industry too fosters the growth of the insulated packaging market in Europe.
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TABLE OF CONTENT
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Bargaining Power Of Suppliers
3.1.4 Threat Of Substitutes
3.1.5 Segment Rivalry
3.2 Value Chain/Supply Chain Analysis
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