Insulated Packaging Market Size, Share, Trends, Growth, Analysis, Future Scope— 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 made from materials with low thermal conductivity and higher heat resistance. The production and supply of temperature sensitive products from pharmaceutical, cosmetic and other industries have increased significantly, which is resulting in the development of high quality insulated packaging.
Market Research Future (MRFR) has published a detailed report stating that the global insulated packaging market is anticipated to expand moderately at a CAGR of 5.68% during the forecast period of 2017-2023.
Factors such as the need for maintaining product efficiency, performance, and safety in diverse industries are driving the demand for insulated packaging globally. Increasing disease prevalence and increasing health awareness among consumers are the other important factors for the market growth. Furthermore, changing lifestyle & rapidly growing e-commerce industries in the developing countries such as China and India are contributing to the growth of insulated packaging market. In the current scenario, people prefer online purchases of products, requiring more product protection, which may be the cause of growing market for insulated packaging. However, fluctuation in the prices of raw materials acts as a restraint for market growth of insulated packaging.
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The major players profiled by MRFR that are operating in the global insulated packaging market are
- Deutsche Post DHL (Germany)
- Amcor Ltd. (Australia)
- I. Du Pont De Nemours and Co. (the U.S.)
- Huhtamaki OYJ (Finland)
- Sonoco Products Company (the U.S.)
- Exeltainer (Spain)
- American Aerogel Corporation (the U.S.)
- Thermal Packaging Solutions (Australia)
- TemperPack (the U.S.)
- Insulated Products Corp (the U.S)
- Davis Core & Pad Co.(the U.S.)
In October 2018, OptumRx, a specialist in pharmacy care services, has switched from expanded polystyrene to biodegradable and recyclable material for its refrigerated home delivery packaging
In October 2018, Borealis, an Austria-based leader of innovative solutions in the field of base chemicals, polyolefins and fertilizers, has announced a strategic alliance with Bockatech, a U.K. based provider of patented EcoCore technology which is a new plastic molding technology for sustainable insulated packaging.
In October 2018, Aqua-Pak, a provider of logistics, insulated packaging consulting and design services, has announced that it has acquired Mansonville plastic group of companies
The global Insulated Packaging Market has been segmented on the basis of material, packaging type and application. Based on material, the insulated packaging market has been segmented into glass, plastic, wood, cupboard, and others.
Based on packaging type, the insulated packaging market has been segmented into box & container, flexible blanket, bags, wraps, and others. Based on application, the insulated packaging market has been segmented into food and beverage, industrial, personal care, healthcare and others. Among these, the food and beverage segment is expanding with a significant market share in the global insulated packaging market.
Market Drivers and Restraints
Rapid increase in global population is inducing high demand for various products with improved shelf life. Insulated packaging provides the contents with protection against the damage caused by heat. Increased production of temperature-sensitive products in various industries such as food and beverages, pharmaceutical, cosmetic and others is inducing high demand for insulated packaging solutions, resulting in the expansion of the global insulated packaging market.
With the introduction of high quality, lightweight materials that provide insulation to the packaging, the demand for insulated packaging is increasing in various industrial sectors, which in turn is propelling the growth of the global insulated packaging market during the assessment period. However, availability of alternatives for insulated packaging, high cost of temperature-sensitive products and government regulations regarding the production of plastic-based packaging are likely to restrain the growth of the global insulated packaging market during the forecast period.
Geographically, the global insulated packaging market has been segmented into four major regions such as Asia Pacific, North America, Europe, and the Middle East and Africa. The Asia Pacific region is market to project dominance over the global insulated packaging market. High demand for insulated packaging in rapidly developing pharmaceutical and food and beverages industries is majorly driving the insulated packaging market in the Asia Pacific region. In North America region, the insulated packaging market is majorly driven by the increasing demand for ready-to-eat food products, high-quality cosmetic products and other materials that require insulated packaging in this region. Increasing utilization of insulated packaging in the pharmaceutical is majorly driving the insulated packaging market in the Europe region.
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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