Insulated Packaging Market - Global Industry Analysis, Size, Share, Growth Trends and Forecast 2016 - 2023

Albany, NY -- (SBWire) -- 03/14/2016 --Insulated packaging is a type of packaging used to transport and store temperature-sensitive products such as chemicals, food, and pharmaceuticals in order to maintain product efficacy and freshness. Insulated packaging is classified on the basis of material, applications, and packaging. Furthermore, packaging materials can be classified by material into plastic, wood, glass, and corrugated cardboards. In terms of end-user industry, packaging materials can be segmented into food & beverages, cosmetics, pharmaceuticals, and others. In terms of packaging, the market can be divided into bags and containers, boxes, and pouches and wraps. Packaging material can be classified by type into rigid, flexible, and semi-rigid. Insulated packaging possesses a unique quality of thermal insulation from the external environment. This drives the insulated packaging market. Good quality insulated packaging should possess properties such as zero thermal conductivity, high range of temperature sensitivity, reusability, and flexibility of shape and design to fit the form of any container. It should also be able to sustain harsh climatic conditions.

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End-use insulated packaging materials are fabricated thermal blankets or liners, sheets of foamed plastic and reflective metallized coatings, bubble wrap or glass filled panels, and molded expanded foams such as polyethylene, polystyrene, and polyurethane. Insulated packaging is used in niche markets such as sporting goods, agriculture, nutraceuticals, and aerospace. High disposable income has enabled various end-users to spend higher on this kind of packaging. Furthermore, changing mindset of end-users has triggered the usage of insulated packaging in their day-to-day life. Import and export of goods has increased significantly due to globalization. This has led to higher need of transportation and storage facilities, thereby increasing the demand for packaging across the globe.

The market for insulated packaging is driven by growth in the packaging industry along with innovative packaging. In terms of volume, Asia Pacific was the largest market for insulated packaging, accounting for one-third share in 2014. Demand for insulated packaging is increasing in developing countries such as China, India, and Brazil due to improvement in economic conditions and lifestyles. The market for insulated packaging has reached a stage of maturity in developed regions such as Europe. The market is driven by rising consumer spending, increasing competition, aggressive pricing, growing concern regarding product presentation and safety, and various developments in the pharmaceuticals sector. North America also holds significant share of the insulated packaging market. The insulated packaging market in the region is expanding rapidly owing to boom in cosmetics and pharmaceuticals industries. The insulated packaging material market in Latin America and the Middle East has witnessed modest growth in the last few years due to rising environmental concerns and availability of alternatives. Food & beverages is the fastest-growing insulated packaging application. Non-biodegradable nature of insulated packaging and implementation of strict legislative norms to protect the environment can hamper the insulated packaging market. Research and development activities are being conducted to widen product application of thermal insulated packaging materials and lower the cost of manufacturing these materials.

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Intense competition exists in the global insulated packaging market owing to the presence of a large number of large and small companies. New product launches, mergers & acquisitions, and partnerships & expansions are the key strategies adopted by players to ensure market growth. Key manufacturers of insulated packaging materials include Amcor Limited, E.I. Du Pont De Nemours and Co., Constantia Flexibles Group GmbH, Huhtamaki OYJ, Deutsche Post AG, Greiner Packaging, Sonoco Products Company, Innovia Films, Winpak Ltd., and Sofrigam.

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