Insulated Packaging Market 2021 Latest Advancements, Trends and Huge Business Opportunities: Cryopak, Davis Core & Pad Company, DS Smith PLC, Innovative Energy, Inc., Marko Foam Products, Inc., Amcor PLC, DuPont, Providence Packaging, Sonoco Products Comp

Insulated Packaging Market Report provides detailed analysis of Growth Factors of the market as well as it gives an analysis of the Market size, Latest trends, SWOT Analysis by Regions and Forecasted market research data until 2026. The Insulated Packaging market report has studied key opportunities in the market and influencing factors which are useful to the business. The report also maps the qualitative and quantitative impact of various market factors like macro-economic indicators, PPP, Epidemiological data, Insurance scenario and patent and IP information, Government Policies and business regulations along market attractiveness as per segments.

The insulated packaging market was valued at USD 14.15 billion in 2020 and is expected to reach a value of USD 19.65 billion by 2026, and grow at a CAGR of 5.71% over the forecast period (2021 - 2026). 

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The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Global Insulated Packaging Market: Cryopak, Davis Core & Pad Company, DS Smith PLC, Innovative Energy, Inc., Marko Foam Products, Inc., Amcor PLC, DuPont, Providence Packaging, Sonoco Products Company, The Wool Packaging Company Limited, Thermal Packaging Solutions, Insulated Products Corporation, Exeltainer and others.

Industry News and Updates:

- April 2020 - Cryopak introduced its next entry into an expanding line of ecologically-friendly shipping solutions with Solversa. Solversa is a 100% sustainable and recyclable product line that is made from post-consumer recycled PET or cotton fibers. It is designed to replace EPS products, foam, and other insulators. The Solversa line of products is appropriate for food & beverage delivery, pharmaceuticals, clinical studies/trials, and any other industry where products require temperature control.

- March 2020 - DS Smith worked closely with food retailers across Europe to design, develop, and produce new boxes designed to supply emergency provision boxes to the most vulnerable. As the focus quickly turned to home delivery to move goods directly to the front door of those who aren’t able to make it to the shops, DS Smith developed special new boxes to be filled by food retailers and left on the doorstep.

Cryopak launches new Solversa sustainable packaging product line

07 Apr 2020: -- Cryopak, a leader in the cold chain packaging industry, is introducing its next entry into an expanding line of ecologically-friendly shipping solutions. The Solversa 100% Sustainable and Recyclable product line is made from post-consumer recycled PET or cotton fibers, and is designed to replace EPS products, foam, and other insulators.

The Solversa line of products have been engineered to mimic the performance of traditional products in this space, and are appropriate for Food & Beverage delivery, Pharmaceuticals, Clinical studies/trials, and any other industry where products require temperature control.

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Market Overview:

- Moreover, insulated packaging plays a significant role in various other end-user industries, such as pharmaceutical and electronics. Pharmaceutical is one of the major end users of these insulated packaging as the product is sensitive to temperature. The packaging of temperature-controlled pharmaceutical products and medical devices is witnessing considerable growth in the overall healthcare industry.

- The increase in the number of e-commerce websites for food and beverages and medicines is proliferating the need for delivery of perishable goods without any wastage. This is further increasing the adoption of insulated packaging by online grocery stores around the world. According to INE Spain, consumers who bought food and perishable goods online increased from 12.8% in 2015 to 18.6% in 2018.

- The major advancements in protective packaging in the past few years have led to the usage of new materials such as cotton and wool insulation to offer a bio-based approach for reducing carbon emissions. For instance, SwiftPak’s PLA bioplastic Packaging complies with local home or garden compost standards in the UK. The method has brought benefits such as keeping the internal product's temperature within 4 degrees Celsius for up to 30 hours.

- As of May 2020, Softbox launched a new cardboard insulated shipper to deliver chilled food. This cardboard has been manufactured to offer effective insulation layers that are similar to those of traditional expanded polystyrene with similar efficiencies. By using its proprietary Thermaflute insulating technology, cardboard insulation packaging uses a single-use low cost parcel shipper featuring 100% recycled corrugated cardboard and no plastic. Such an initiative has led Softbox to remove 74.5 tonnes of plastic per year from their food delivery boxes and reduce 50% of plastic on the same.

- The outbreak of a pandemic has led to record numbers of consumers shopping online for groceries and restaurants moving to off-premises formats. Then, coming to insulated packaging for temperature-sensitive products, the pharmaceutical sector has been demanding. Considering the spike in e-commerce, the insulated packaging is expected to see strong sales with smaller e-commerce and food delivery formats across meal kits and other perishable food and beverage items. As multiple packages containing fresh and frozen items require good insulation, pandemic-led behavioral change has led to packages being left outdoors for some time.

Food and Beverage Industry to Show the Maximum Application

- The food and beverage packaging industry is witnessing significant growth, owing to the increasing demand for packaged food and ready-to-eat food consumption. Moreover, the increasing trend of online food ordering and online grocery shopping is giving rise to the need for shipment and storage of perishables in a thermally controlled environment.
- Protection, preservation, maintaining, and extending the shelf-life of food products are the primary challenges faced in the food industry. As the food products are prone to deteriorate over the period, which affects their flavor, taste, texture, and color, choosing the right packaging products is necessary.
- The consumption of frozen food is increasing in developed countries, such as the United States, Germany, Canada, and France, among others, which are driving the market for insulated packaging. According to Frozen and Refrigerated Buyer, in 2019, the frozen food sales in the United States were USD 9,384.88 million. Ice-cream contributed most to the sales of frozen food in the region with USD 1,418.38 million, whereas processed chicken/chicken substitute contributed USD 676.29 million.
- The packages containing frozen foods should be constructed, thermally insulated, and equipped with sufficient refrigerants to continuously maintain product temperature of 0C (32F) or colder. Insulated shipping boxes are needed as they limit the exchange of heat between the environment and the inside of the package. One of the most used thermal insulators in the food industry is expanded polystyrene (EPS) coolers.

United States to Hold Significant Market Share

- United States is expected to dominate the insulated packaging market due to the increasing number of food retail chains and their expansion, and the growing e-commerce industry. eCommerce continues to grow at a dramatic pace in the country, putting pressure on traditional retail.
- Consumers spent USD 601.75 billion online with U.S. merchants in 2019, up 14.9% from USD 523.64 billion the prior year, according to the U.S. Department of Commerce quarterly e-commerce figures. That was a relatively higher growth rate than 2018 when online sales reported by the Commerce Department rose 13.6% year over year. Also, sales of consumer packaged goods, long confined to traditional retail channels, are exploding online, with growth rates, in many cases, in excess of 50% YOY.
- Moreover, the presence of major giants such as Amazon and Walmart has significantly changed the buying trends of the grocery shoppers in the U.S. For instance, According to a study from the Retail Feedback Group, 31% of US digital grocery shoppers claimed that they purchased online groceries from Amazon in 2018. Also, 33% of shoppers claimed that they purchased online groceries from Walmart in 2018, which is a 7% increase as compared to 2017.
- Also, the ability to prevent damage to temperature-sensitive products like pharmaceuticals, foods, and cosmetics, insulated packaging commands a noticeable presence in several high-growth industries in the country like healthcare, food, and beverage, etc. This factor is expected to drive the insulating packaging market in the forecast period.
- Moreover, the government regulations in the country, for instance, the food-contact packaging sector of the U.S. is highly regulated by the Food and Drug Administration (FDA). With food being one of the most sensitive products to transfer and store, the regulations are expected to promote adoption of insulated packaging such as insulated food bags considerably.

Competitive Landscape

The global insulated packaging market is moderately fragmented owing to many packaging solutions providers introducing insulated packaging in their product line and prevent the new entrants to enter the market. The companies are investing in their R&D to develop innovating packaging solutions so that their solutions cater to the needs of the growing demands of various end-users. A significant number of instances of mergers and acquisitions are also seen as a step towards increasing the market share.    

Regional analysis:

This report covers South America, North America, Europe, Asia Pacific (APAC), Africa and The Middle East, taking into account the clear evidence of where the market is fully examined, typical market examples, blocks and open access roads for power generation. With a huge population, Asia Pacific has revenues in the picture year, and dominates the Insulated Packaging market share, at any given time. Continuous GDP reform; Institutional progress per capita is becoming urbanized in the metropolitan area. This expanded revenue has led to indulging in top private and unrealistic usage models in the Insulated Packaging market deployed in the region. While an important piece of the Insulated Packaging market center around the global expansion of business, territories such as the Middle East and Africa will grow steadily. Big market development will take place in Latin America because of the small expansion producers' attempts at profits. In Europe, a lethargic improvement is expected due to mood-oriented rules and early stages.

Find Out:

Insulated Packaging market: Where are the opportunities? What does the future look like for Insulated Packaging? What will be the market size in the next 5 years?
Insulated Packaging Market trends: What is driving the market? Where are the key players? What are their strategies? What is holding the market behind? Where is the industry heading for in the short and long-term? How are new developments expected to change the market?
Technology: How are new technologies shaping the Insulated Packaging market?

What are the new revenue channels which companies can explore for growth?       

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Due to the onset of COVID-19 pandemic, several economies across the world have experienced harsh economic downturn. The industrialists across North America, Europe, Asia Pacific, Latin America and Middle East and Africa were facing problems due to changing preferences of the customers and demand fluctuation. The market research report covers pre-Covid-19 data for the Insulated Packaging market in years 2018 and 2020. Further, the report also covers forecast Covid-19 data from 2021 to 2026, which provides future outlook of the market for the manufacturers and suppliers.

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