Insulated Packaging Market Worth $14.2 Billion by 2020

 

A new report published by MarketsandMarkets, Chicago, Ill., USA, titled Insulated Packaging Market by Material Type (Plastic, Wood, Corrugated Board, Glass), Application (Food & Beverages, Industrial, Pharmaceutical, Cosmetics), by Packaging Type, Type, and Region - Global Forecast to 2020 published by MarketsandMarkets, projects the insulated packaging market to reach $14.2 billion by 2020, at a CAGR of 5.12% during the forecast period from 2015 to 2020.

More information about this report is available online.

The market report defines and segments the global insulated packaging market with an analysis and forecast of its global revenues. It also identifies the driving and restraining factors of the market with analysis of trends, opportunities, burning issues, winning imperatives, and challenges.

The market is segmented and revenues are forecasted on the basis of major regions, such as North America, Europe, Asia-Pacific, and Rest of the World (RoW). The key countries are also covered and their market sizes have been forecasted for each region. Furthermore, this market is segmented and revenues are forecasted on the basis of applications.

The insulated packaging industry has a positive outlook due to a high growth in the packaging industries. The growing demand for insulated packaging in developing countries, such as China, India, and Brazil, is due to the improved economic conditions and lifestyles, which is driving the growth of the insulated packaging industry. Key factors, such as growth in the parent packaging market, increasing concern towards product presentation and safety, and development in the pharmaceutical sector, are contributing to the growth of this market.

The food and beverages segment is the fastest-growing insulated packaging application, which is growing at a CAGR of ~5.00% during the period under review. Factors such as the increasing end-use application fueled by the growing middle-class population, coupled with growing workforce, make insulated packaging an attractive market of the global packaging industry.

The market for insulated packaging is observed to be matured in developed economies, such as Europe. The reason behind this is the rapid growth in the parent packaging market and increasing concern towards product presentation and safety in this region. The Asia-Pacific region formed the largest market for insulated packaging, in terms of value, after having accounted for $3,391.6 million in 2014. Europe formed the second-largest market, with a market share of ~30%. This region is projected to be the fastest-growing market for insulated packaging during the forecast period from 2015 to 2020.

The market for insulated packaging is driven by the growth in the packaging industry along with innovative packaging. High disposable income has enabled end-users to spend more on insulated packaging, which facilitates thermal insulation. Most importantly, the changing mind set of end-users has triggered the usage of insulated packaging in their day-to-day life. The global insulated packaging market is marked with intense competition due to the presence of a large number of big and small firms.