Pune India, Feb. 01, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the insulated food container market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the insulated food container market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the product, distribution channel, and region. Apart from this, the key driving factors, restraints, potential growth opportunities, and market challenges are also discussed in the below paragraphs.
The significant players operating in the global insulated food container market are Cambro Foodservice Equipment and Supplies, Newell Brands, Huhtamaki, Carlisle FoodService Products, Stanley, Kuukware, Zojirushi America Corporation, Thermos L.L.C., Hamilton Housewares Pvt. Ltd., TokyoPlast, Zojirushi American Corporation, and Tupperware among other. To achieve a substantial market share in the worldwide insulated food container market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Food is kept hot or cold and at the consumer's preferred temperature in insulated food containers. It maintains a stable temperature for a wide range of food types, including hot cuisines and cold items like ice cream. Insulated lunch boxes enable for convenient eating at the user's preferred time and make it easy to store food for a long time. Whether a person prefers their meal hot or cold, they can easily eat according to their desired taste and temperature if the food is properly preserved in insulated food containers made of steel and other materials. It has been determined that it takes the working population five to six hours from the time food is prepared until it is actually consumed. Because there is a need for premium, fresh food, consumers are purchasing insulated food containers. It is anticipated that the middle class in developing countries like China and India would work longer hours, which will increase demand for insulated packaging that keeps food warm and fresh. Due to its durability and appealing characteristics, insulated tote bags have become more and more well-liked among working class people all over the world in recent years. In developed North America and Europe, demand for insulated tote bags is rising as individuals use them to carry beverages on picnics and other outings. Businesses like Thermos L.L.C. sell insulated tote bags that can store up to 24 cans.
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Scope of Insulated Food Container Market Report
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Product, Distribution Channel, and Regions |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Cambro Foodservice Equipment and Supplies, Newell Brands, Huhtamaki, Carlisle FoodService Products, Stanley, Kuukware, Zojirushi America Corporation, Thermos L.L.C., Hamilton Housewares Pvt. Ltd., TokyoPlast, Zojirushi American Corporation, and Tupperware among other |
Segmentation Analysis
The stainless steel segment is expected to be the fastest-growing segment in 2022.
The product segment is plastics, stainless steel, and others. The stainless steel segment is expected to witness the highest growth rate during the forecast period. Even foods that are naturally acidic, like tomatoes, are believed to be unaffected by these substances and to be safe. The exceptional break resistance and high level of food safety of the goods are expected to drive growth in the market for insulated food containers. By using stainless steel, you can stop bacteria and odour from spreading.
The hypermarkets & supermarkets segment is expected to be the fastest-growing segment in 2022.
The distribution channel segment is convenience store, hypermarkets & supermarkets, and others. The hypermarkets & supermarkets segment is expected to witness the highest growth rate during the forecast period. This segment's expansion is due to its substantial presence in every region. Customers are encouraged to choose supermarkets and hypermarkets as their preferred selling locations because insulated food containers are offered along with a number of consumer benefits, such as discounts.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the insulated food container include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
- The Asia Pacific region witnessed a major share. In order to keep meals hot and ensure food safety, more individuals are utilising insulated food containers. The market is growing as a result of increased demand from developing nations in the Asia Pacific area, including China, India, and Japan, which may be ascribed to improved economic and living conditions. Since 2021, a million individuals have been able to escape extreme poverty thanks to the Asia Pacific region's strong economic growth, according to the United Nations Environment Protection Program.
Country Analysis
- Germany
Germany's insulated food container market size was valued at USD 0.75 billion in 2022 and is expected to reach USD 1.19 billion by 2030, at a CAGR of 6% from 2023 to 2030. Due to the increasing influence of social media among customers, people are spending more money on food and personal hygiene products. Due to the substantial population in the corporate sector, academic institutions, and universities, there is a high demand in this field.
- China
China’s insulated food container market size was valued at USD 0.78 billion in 2022 and is expected to reach USD 1.26 billion by 2030, at a CAGR of 6.2% from 2023 to 2030. China was the largest market in 2018 with a 41.0% market share in the Asia Pacific region. Due to the increased disposable income of middle-aged consumers, China has the world's fastest-growing economy. It is projected that the previously mentioned favourable macroeconomic climate in developing countries, particularly China, will shortly grow market size.
- India
India's insulated food container market size was valued at USD 0.60 billion in 2022 and is expected to reach USD 0.96 billion by 2030, at a CAGR of 6.1% from 2023 to 2030. According to a study by the Indian Brand Equity Foundation that was released in December 2020, the food processing sector, one of India's largest industries, represents 32% of the country's overall food market and is ranked fifth in terms of output, consumption, export, and expected growth.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of the insulated food container market is mainly driven by the technological advancements.
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