The global Insulated Packaging market is anticipated to reach USD 21.5 billion by 2026 according to a new research. In 2018, the food and beverage segment accounted for the highest market share in terms of revenue. Asia-Pacific is expected to be the leading contributor to the global market revenue in 2018.
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The increasing disposable incomes and growing demand for fresh and natural products drives the market growth. Growing urbanization and improving living standards of consumers have increased the demand for insulated packaging solutions. The growing need for temperature sensitive packaging, improved shelf life of products, and high demand from the food and beverage sector boost the insulated packaging market growth.
A major application of insulated packaging is in the pharmaceutical industry. Insulated packaging uses simple materials such as cotton fiber pads for blocking the heat and high maintenance of quality during transit. Insulated packaging comfortably maintains the temperature of packages between 2-8 degrees C for more than 24 hours. This packaging offers medical sterilization owing to its capability to provide a strong sterile barrier. It provides heat resistance, which increases shelf life and ease of use. It is widely used in hospitals and by medical equipment and medical disposables manufacturers. This technology also opens up new avenues of service, where patients with chronic illness can get medications delivered at home.
This Report has segmented the global insulated packaging market on the basis of type, product, material, end-use and region:
Insulated Packaging Type Outlook
- Rigid
- Flexible
- Semi-Rigid
Insulated Packaging Product Outlook
- Boxes and Containers
- Bags and Pouches
- Wraps
- Others
Insulated Packaging Material Outlook
- Paper
- Wood
- Plastic
- Glass
- Others
Insulated Packaging End-User Outlook
- Food and Beverage
- Healthcare
- Pharmaceutical
- Cosmetics
- Others
Asia-Pacific generated the highest market share in terms of revenue in 2018 in the insulated packaging industry and is expected to lead the global market throughout the forecast period. The growing population, rising disposable incomes, and increasing living standards support the growth of insulated packaging industry in the region. The increasing demand from the food and beverage, and pharmaceutical industry is expected to generate numerous opportunities for the industry during the forecast period.
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Key players in market
The well-known companies profiled in the report include Amcor Limited, E.I. Du Pont De Nemours and Co., Davis Core & Pad Company, Sonoco Products Company, Innovative Energy, Inc, Deutsche Post AG, Marko Foam Products, Inc., Huhtamaki Group, Providence Packaging, and The Wool Packaging Company Limited. These companies launch new products and collaborate with other leaders in the market to innovate and launch new products to meet the increasing needs and requirements of consumers.
Related Report:
Global Sustainable Packaging Market 2019-2026
Key driving forces of the market growth are government initiatives towards Sustainable Packaging coupled with Shift in Consumer Preferences Towards Recyclable and Eco-Friendly Materials. For instance, government regulation, such as directive 94/62/EC by the European Union, the National Environment Agency (NEA) of Singapore’s mandatory requirements for sustainable packaging are examples of government initiatives.
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