New York, US, March 30, 2023 (GLOBE NEWSWIRE) -- Insulated Packaging Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Insulated Packaging Market By Material, Packaging Type, Application, Region — Forecast Till 2030”. The market for insulated packaging is anticipated to reach USD 21.95 billion in value by 2030, growing at a CAGR of 6.8% from 2022 to 2030. In 2021, the market was worth USD 12.18 billion. The market for insulated packaging is expanding quickly as people's disposable money and standards of life rise. The need for insulated packaging materials is being driven by the increasing increase in the global trade of frozen and perishable goods.
For items from industries like medicines, food & beverage, chemicals, cosmetics, etc., the insulated packaging is essential. Some businesses require insulated shipping containers to shield their products from thermal and physical damage during transport.
The market is also growing as a result of continuing R&D projects to create eco-friendly and more effective insulated packaging materials. Over the projection period, it is anticipated that the global market for insulated packaging will expand at a compound annual growth rate of 6.8%. (2022- 2030).
To meet the requirements of various industries, many forms of insulated packaging are available. Preformed shapes, flexible blankets, bags, container boxes, etc. are a few of the most popular types. More businesses have entered the market as a result of the expanding demand for products that require insulation and the expansion of international trade. By the end of the current forecast period in 2030, the global market for insulated packaging is anticipated to be worth USD 17.8 billion.
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The following are the top international corporations active in the insulated packaging market:
- Deutsche Post DHL (Germany)
- Amcor Ltd. (Australia)
- I. Du Pont De Nemours and Co. (U.S.)
- Huhtamaki OYJ (Finland)
- Sonoco Products Company (U.S.)
- Exeltainer (Spain)
- American Aerogel Corporation (U.S.)
- Thermal Packaging Solutions (Australia)
- TemperPack (U.S.)
- Insulated Products Corp (U.S)
- Davis Core & Pad Co.(U.S.)
- Among others.
| Report Attribute | Details |
| Market Size in 2030 | USD 21.95 Billion |
| CAGR | 6.8% (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022–2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | by Packaging Type, Material, Application |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increasing disease prevalence |
| Increasing health awareness among consumers |
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The global market for insulated packaging is expanding as a result of increased consumer demand for temperature-sensitive goods such food and beverages, healthcare items, etc. Moreover, the opening of the worldwide market for FMCG products that are very perishable has been greatly aided by globalisation. Also, as people's disposable money has expanded, the demand for these things has multiplied considerably. The e-commerce sector's explosive growth and the availability of quick meal delivery services are also driving up demand for insulated packaging.
The creation of appropriate insulation package materials that are lightweight, strong physically, and affordable has been a great accomplishment.
Moreover, the development of packaging made from environmentally friendly and sustainable resources, such as agricultural waste, will probably contribute to the Insulated packaging market's continued expansion.
The primary factors impeding expansion are the fluctuating prices of raw materials and, as a result, the rising cost of insulating packaging materials. Another significant barrier to the market is the growing environmental concern over the usage of some less recyclable insulation materials, such as polystyrene and polyurethane foam.
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A unique type of packaging known as insulated packaging is used to shield perishable and frozen goods from harm brought on by temperature variations. It operates under the tenet that using insulating materials will reduce heat transfer. Its packaging also provides defence against physical harm.
To keep the product's freshness, this packaging technology is mostly used for transporting temperature-sensitive goods. In addition, travel and cargo movement limitations to stop the spread of the virus severely interrupted the supply chain.
On the other hand, the market had a significant resurgence because to the expansion of the e-commerce sector, which includes meal delivery services. During the pandemic, the pharmaceutical sector was a significant source of demand for insulated packaging. Thus, it is predicted that the market would quickly rebound in a short amount of time.
Items that are especially susceptible to damage from temperature fluctuation include prescription medications, seafood, fruits, and vegetables, among others. Consequently, excellent thermal insulation, cheap production costs, increased mechanical strength, lightweight features, and other characteristics must be present in insulation packing materials.
Natural fibres like wool, cotton, and hemp are used in insulation packing technologies together with insulating and cushioning materials like polyurethane, styrofoam, and polystyrene foams.
Group Analysis
Expanded polystyrene foam (EPS), polyurethane (PUR) foam, wool glass, wood, and others are the several material categories under which the insulated packaging market is divided.
The insulated packaging market is divided into the following categories: boxes and containers, flexible blankets, bags, wraps, and other.
The food and beverage industry, chemical industry, healthcare, fast-moving consumer goods, cosmetic and pharmaceutical sectors, and others are the end-user industries that make up the insulated packaging market segments.
The largest regional market for insulated packaging worldwide is in Asia-Pacific.
The development of the pharmaceutical, food retailing, and e-commerce industries, which are the main drivers of demand for insulated packaging, has increased significantly. The primary driver of market expansion in this region is the rise in peoples' disposable income.
The region with the fastest market growth is the Americas. The main driver of market expansion is the high demand for packaged food items, including as meat, seafood, beverages, and groceries that need insulated packaging. Also driving the insulated packaging market in this region are increased e-commerce penetration and rising medicinal product demand.
A sizeable portion of the world market for insulated packaging is accounted for by Europe. The main driving forces behind this region's market growth are the high level of disposable income in the population and the high demand for packaged food goods that results from that. Similar to this, the Middle East market is expanding quickly. Over the forecast period, the African segment is anticipated to develop moderately.
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