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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 shipping boxes 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.
The e-commerce industry has laid down the favorable groundwork for the growth of the insulated packaging market. In emerging economies, the e-commerce industry is expanding rapidly, which induces the high need for packaging of products which require enhanced protection. On the flip side, market growth can be hindered by volatility in the price of raw materials.
Segmentation
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.
Regional Analysis
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.
Competitive Landscape
TemperPack (U.S.), Davis Core & Pad Co.(U.S.), E.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), and Exeltainer (Spain) are the eminent players in the global insulated packaging market.
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