Insulated Packaging Market: Quantitative Market Size, Share, Growth Analysis & Forecast 2024
Sarasota, FL -- (SBWIRE) -- 10/02/2017 -- Increasing demand for the pharmaceutical products is positively impacting the insulated packaging market growth. Rapidly increasing e-commerce trend in developing countries is anticipated to drive the global market in the coming future. In addition, rapid growth in urbanization and per capita income is expected to boost the insulated packaging market. The advantage of insulated packaging material which helps to maintain the normal temperature in the extreme weather conditions is also anticipated to boost the market demand in future.
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Insulation materials resist the heat transfer from one object to another with two different temperatures having low thermal conductivity. Thermal fluctuations commonly occur during transportation of temperature-sensitive products. This is the main reason behind many companies majorly using insulating materials for packaging. Insulated packaging provides better protection from damage, maintaining the product specifications. It keeps product warm, refrigerated, frozen and reduces the effect of variable temperature. For example, packaging design specialist, Angela Morris—through National Trust's 'Farming Forward' scheme—realized the importance of wool as an ideal insulation material which can protect ice-cold foodstuffs during transportation. This 'Farming Forward' scheme was aimed to assist its farmers in rebuilding their business after foot and mouth outbreak in 2001. Morris worked for another 6 years in testing, refining, and developing the Woolcool.
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The global insulated packaging market is a segmented on the basis of product type as wraps, boxes and containers, bags and pouches, and others. Of which, the boxes and container segment dominates the global market. Pharmaceutical products and vaccines need to be maintained at normal temperatures; hence the demand for the boxes and containers in the pharmaceutical industry is expected to increase in the near future. The global insulated packaging market is segmented on the basis of packaging materials as wood, expanded polystyrene foam (EPS), cupboard, polyurethane (PUR) foam, glass, and others. On the basis of applications, the global insulated packaging market is further categorized as FMCG products, food and beverages, healthcare, electronics, and others. Of which, food and beverages are the dominating segment and account for the largest market share in the global market. However, unstable raw material prices may hamper the insulated packaging market growth in future.
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Geographically, the global insulated packaging market is segmented as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia Pacific is the dominating region in the insulated packaging market owing to increasing end-user applications. It is emerging as an attractive market for insulated packaging owing to rising industrial network across the region. Developing countries such as India and China are anticipated to witness rapid growth in the near future. Furthermore, North America is also struggling to gain larger market chunk in future. Changing consumer preferences and online marketing also positively impact the market in this region. Western Europe is promisingly holding potential market share in the global market. Emerging countries such as Brazil and Indonesia will spur the market in the future.
Some of the leading players dominating the global insulated packaging market include Sonoco, Exeltainer, American Aerogel, Amcor, Innovative Energy, TP Solutions, Deutsche Post DHL, Providence Packaging, TemperPack, and Huhtamaki. Others key players influencing the global market are Laminar Medica, WoolCool, JB Packaging, Cold Ice, Ecovative, Marko Foam Products, Davis Core, IPC Pack, and DuPont.
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