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Insulated Packaging Market - What are the main factors that contributing towards industry growth?

Author : Rahul Varpe | Published Date : 2019-04-02 

Asia Pacific driven by India, South Korea, Japan, and China insulated packaging market demand may witness significant growth over the foreseeable timeframe. Few macroeconomic factors such as rising disposable income, changing demographics, increasing middle class and economic growth supported by rapid urbanization may drive regional industry growth.

Europe insulated packaging market demand driven by U.K, France, Italy and Germany may witness significant gains owing to increasing concern towards product presentation and rapid growth of packaging market.

Moreover, the rise in e-commerce activities is further increasing the packaging merchandise market throughout the region in the forecast. Global e-commerce market, which includes online retail shopping sales was about USD 1.5 trillion in 2016. Online retail sales growth has boosted the demand for packaging products for the safe product shipment.

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Insulated Packaging Market size is expected to witness significant gains owing to business expansion and introduction of various technologies in the industry. Increasing its usage in food & beverages and pharmaceutical industries should drive insulated packaging market size. It consists of various types such as bags, pouches, boxes & containers and wraps.

It is a combination of various materials having low thermal conductivity to resist the flow of warmth. It provides higher protection from damage and keeps product heat, frozen, refrigerated and reduces the variable temperature consequences. Rising demand for metal and packing products will also have a positive impact on the insulated packaging market size.

Global packaging market demand was valued at over USD 850 billion in 2017. Consumer product manufacturers prefer eco-friendly packing designs and materials, which in turn growing overall market demand. Growing consumer health consciousness including progressively busy lifestyles has driven demand for convenience food demand. Rising popularity of online shopping has compelled e-commerce and online retailers to use various corrugated boxes which will implement new insulated packaging technology.

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Insulated packaging market demand from food applications may register favorable gains during the projected timeframe. Rise in packaged demand for ready-to-eat food consumption owing to increasing working demographics may drive industry growth. Global packaged food market size is poised to exceed USD 3.5 trillion by 2024, with gains at over 5%. Change in consumer lifestyle accompanied with rising health awareness are the key attributes favoring industry growth.

Global insulated packaging market share is fragmented with key industry participants including Deutsche Post DHL, American Aerogel, TP Solutions, Sonoco, Innovative Energy, Providence Packaging, Temper Pack and Huhtamaki.

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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