Insulated Packaging Market Research Report- Forecast till 2023
The global insulated packaging market 2020 is projected to witness a growth in revenue generation. A report has been published by Market Research Future (MRFR) that reveals that the global insulated packaging market is poised to mark 5.68% CAGR across the review period 2017 to 2023.
Insulated packaging helps in maintaining performance and product efficiency. It is anticipated to drive the growth of the insulated packaging market size in the coming years. It is effective in elongating lifespan of products that can get destroyed by environmental factors. The product is likely to find a major application in the pharmaceutical industry, suggests insulated packaging market trends. It is expected to drive the augmentation of the insulated packaging market in the foreseeable future. Rising demand for trading and shipping of temperature-sensitive products is projected to catapult the insulated packaging market on upward trajectory. Some of the advantages of these packaging solutions are ease of fabrication & transportation, mechanical strength, low cost, high resistance to heat, low weight, low moisture susceptibility, and durability, among others. On the other side, fluctuating raw material price is expected to restrict market growth in the coming years.
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On the basis of material, the insulated packaging market has been segmented into glass, cupboard, plastic, wood, and others. Among these, the plastic segment is expected to witness growth due to rising demand for controlled pressure and temperature range.
On the basis of packaging type, the insulated packaging market has been segmented into box & container, bags, wraps, flexible blanket, and others. Among these, the box segment is projected to witness growth due to rising awareness about climatic changes and its impact on products. In addition, the segment is likely to find major application in the pharmaceutical industry which is supposed to impact the segmental growth positively.
On the basis of application, the insulated packaging market has been segmented into food & beverage, personal care, healthcare, industrial, and others. Among these, the food & beverage segment is likely to remain the largest segment of the market through the prognosis period. Rising disposable income and changing lifestyle are expected to boost revenue growth in the market.
The geographical evaluation of the global insulated packaging market is included in this MRFR assessment that covers the following regional segments – Americas, Asia-Pacific, Europe, and the Middle East & Africa (MEA). These segments assessed on the basis of region are narrowed down for country-level analysis of the market. Asia Pacific is expected to lead the global market. It is due to the huge population of the region coupled with changing lifestyle. The growth of industries such as food & beverage and pharmaceutical is expected to provide impetus to market augmentation. Europe is likely to earn second-highest revenues over the evaluation period. Advancing pharmaceutical industry in the region is projected to augment the insulated packaging market in the region.
Deutsche Post DHL (Germany), E.I. Du Pont De Nemours and Co. (U.S.), Amcor Ltd. (Australia), Insulated Products Corp (U.S), Huhtamaki OYJ (Finland), Exeltainer (Spain), Sonoco Products Company (U.S.), American Aerogel Corporation (U.S.), TemperPack (U.S.), Thermal Packaging Solutions (Australia), and Davis Core & Pad Co.(U.S.) are few of the major holders of the global insulated packaging market share. The market is characterized by the consolidation of international and domestic players that are injecting investments to sustain the curve. New players might enter the competition, thus intensifying it over the next couple of years. Research and development activities are poised to continue to bring innovations, thus augmenting market and competition. Some of the growth strategies observed in the insulated packaging market are mergers & acquisitions, collaborations, strategic alliances, partnerships, etc.
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Insulated Packaging Market Research Report— 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
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