Insulated Packaging Market to be Dominated by Food & Beverage Industry through 2028
Rising demand
from food & beverage industry is expected to drive the Global Insulated
Packaging market in the forecast period 2024-2028.
According to TechSci Research
report, “Insulated Packaging
Market - Global Industry Size, Share, Trends, Opportunity, and Forecast,
2018-2028,” the Global Insulated Packaging market is
anticipated to upsurge at an impressive rate in the forecast period 2024-2028. A significant factor fueling the growth of the Global Insulated
Packaging Market is the use of insulated packaging by
the food & beverage industry due to increasing demand for packaged food and
ready-to-eat food consumption. In addition, rapid urbanization rising the trend
of online shopping of daily needs as well as food items which require thermally
regulated environment during shipping and storage further fuels
the growth of Global Insulated Packaging
market.
For instance, in 2022, Cold
Chain Technologies (CCT) a US-based insulated packaging company acquired
Packaging Technology Group (PTG), a company that provides sustainable thermal
packaging for the life sciences industry.
Furthermore, the market is
being further stimulated by growing demand from cosmetic, pharmaceuticals,
automotive, and electronics sectors.
However, fluctuations in
raw material costs can slow down the market growth. Also, instability and high
price of vacuum insulation panels (VIP) can further slowdown the market growth.
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data Figures spread through XX Pages and an in-depth TOC on the "Global
Insulated Packaging Market”
Global Insulated
Packaging Market is segmented based on material, packaging type, type, application,
region and competitive landscape.
Based on material,
the market is categorized into plastic, metal, wood, corrugated cardboards, and
others. Corrugated Cardboards segment is expected to hold
the largest market share in the forecast period, 2024-2028. This is due to their
various advantages such as burst strength, impact strength, high bending
resistance, and tear resistance.
Based on packaging
type, the market is segmented into box & container, flexible blanket, bags,
wraps, and others. Box & Container segment is expected
to hold the largest market share in the forecast period, 2024-2028. This is due
to increasing demand for cost-effective packaging and lightweight products for
streamlining supply chain operations.
Based on type, the
market is divided into rigid, flexible, and semi-rigid. Flexible segment is expected
to hold the largest market share in the forecast period, 2024-2028. This is due
to ease of use, convenient shape, lightweight, resalable properties, and lower
environmental impact.
Based on application, the
market is fragmented into food & beverages, pharmaceutical, cosmetic, and
others. Food & Beverage segment is expected to hold the largest market
share in the forecast period, 2024-2028. This is due to increasing demand for
ready-to-eat food consumption due to rapid urbanization.
Major companies
operating in the global insulated packaging market are:
- Sonoco Products Co
- DuPont de Nemours, Inc.
- Cryopak Industries Inc
- The Wool Packaging Company Limited
- Cascades Inc.
- DS Smith PLC
- Innovative Energy Inc.
- Marko Foam Products, Inc.
- Thermal Packaging Solutions Ltd.
- Insulated Products Corporation
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“Asia
Pacific region is expected to grow at the highest rate during the forecast
period due to rapid urbanization and expanding manufacturing industry. Additionally,
significant rise in the development of the pharmaceutical and e-commerce
industry creates lucrative opportunities for the market growth. Furthermore, in
North America, increasing number of retail food chains and their expansion as
well as dynamic trends in society are creating huge prospects for market growth
during the forecast period,” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based global management consulting firm.
“Insulated Packaging Market- Global Industry Size, Share, Trends,
Opportunity, and Forecast, 2018-2028 Segmented
By Material (Plastic, Metal, Wood, Corrugated Cardboards, Others), By Packaging
Type (Box & Container, Flexible Blanket, Bags, Wraps, Others), By Type
(Rigid, Flexible, Semi-rigid), By Application (Food & Beverages,
Pharmaceutical, Cosmetic, Others), By Region, and Competition,”
has evaluated the future growth potential of Global Insulated Packaging Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision-makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the Global Insulated Packaging Market.
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