In 2021,
Increasing Demand from Food & Beverage Sector
The demand for packaged food and the consumption of ready-to-eat meals is driving substantial expansion in the food and beverage packaging business. A thermally regulated environment is also required for the transportation and storage of perishables due to the rising trend of online food ordering and grocery shopping. The key issues facing the food sector are protection, preservation, upkeep, and increasing the shelf life of food goods. Choosing the proper packaging is essential since food products are prone to degrade over time, impacting its flavor, taste, texture, and color.
For instance, in October 2021, frozen food sales in the United States were more than USD 9000 million in which ice cream contributed most to the sales of frozen food in the region with USD 1400 million.
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Growing Demand from Electronic Industry
Electronics items must be carefully packaged and sent since they are very costly and delicate in nature. Almost all battery connections must be protected from short-circuiting while being shipped. To do this, they are entirely wrapped in an insulating wrapping to shield the exposed terminals.
For instance, according to the United States International Trade Commission, U.S. total exports of electronic products increased by 3.1% and general imports of electronic products increased by 4.5 % in 2018.
Flexible Packaging will be the Key Type
Flexible packaging is increasing in demand because of its practical shape, simplicity of use, ability to be resold, light weight, and reduced environmental effect. Also, the expansion of the market is fueled by the usage of flexible packaging in ready-to-eat food goods and vegetables.
For instance, in 2019, according to the Flexible Packaging Association (FPA), flexible Packaging has about 19% of the packaging market in the United States, reporting for around 59 % of shipments.
All these factors are supporting the demand for flexible insulated packaging which led to the growth of
Recent Developments
- In June 2022, Pitreavie Packaging Group's chilled packaging business,
has developed an insulated box which is 100% recyclable.
- Cryopak, opened a new packaging facility plant in Atlanta in May
2022.
- In December 2021, Stora Enso introduced a new bio-based foam made
from wood which are fully recyclable and used for thermal and protective
packaging.
- Softbox launched a 100% recyclable, plastic-free, cardboard
insulated shipper known as eco chill box in May 2020.
Market Segmentation
Global Insulated Packaging Market
Company Profiles
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 are some of the key players of Global Insulated Packaging Market.
Attribute
|
Details
|
Base Year
|
2022
|
Historic Data
|
2018 – 2021
|
Estimated Year
|
2023
|
Forecast
Period
|
2024 – 2028
|
Quantitative
Units
|
Revenue
in USD Million, and CAGR for 2018-2022 and 2023-2028
|
Report
coverage
|
Revenue
forecast, company share, competitive landscape, growth factors, and trends
|
Segments covered
|
Material
Packaging
Type
Type
Application
|
Regional scope
|
North
America, Europe, Asia Pacific, South America, Middle East & Africa
|
Country scope
|
United
States, Mexico, Canada, France, Germany, United Kingdom, Spain, Italy, China,
India, South Korea, Japan, Vietnam, Brazil, Argentina, South Africa, Saudi
Arabia, UAE
|
Key companies
profiled
|
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
|
Customization
scope
|
10%
free report customization with purchase. Addition or alteration to country,
regional & segment scope.
|
Pricing and
purchase options
|
Avail
customized purchase options to meet your exact research needs. Explore purchase options
|
Delivery
Format
|
PDF and Excel through
Email (We can also provide the editable version of the report in PPT/Word format
on special request)
|