(MENAFN- GlobeNewsWire - Nasdaq) Insulated Packaging industry size is expected to register 7% CAGR between 2024 and 2032 propelled by rising demand for temperature-sensitive goods.
Selbyville, Delaware, Nov. 25, 2024 (GLOBE NEWSWIRE) -- Insulated Packaging market was valued at USD 16.8 billion in 2023 and is projected to be worth USD 30 billion by the end of 2032, as per a recent study by Global Market Insights Inc.
This growth is largely fueled by the increasing demand for temperature-sensitive products across food and beverages, pharmaceuticals, and chemicals. The rise of e-commerce and the shift towards direct-to-consumer delivery services, particularly for perishable items, have intensified the need for effective insulated packaging solutions. As more consumers opt for online grocery shopping and meal kit services, the requirement for temperature-controlled packaging has become crucial to maintaining product freshness during transportation. This trend has led to a growing emphasis on reliable, insulated packaging as e-commerce platforms cater to the delivery of frozen and refrigerated goods.
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Despite the market's expansion, significant challenges persist, especially concerning the high costs associated with sustainable and recyclable materials. Eco-friendly options such as PET-based liners and biodegradable packaging often involve advanced manufacturing techniques that drive up production costs. In addition, procuring sustainable raw materials can be more expensive than conventional alternatives, such as plastic or Styrofoam. These elevated material and production expenses are frequently transferred to consumers, rendering recyclable packaging less appealing in price-sensitive markets. Furthermore, the necessity for specialized recycling facilities adds additional logistical and financial challenges to implementing fully sustainable packaging solutions.
The insulated packaging market can be categorized into three main types: rigid, flexible, and semi-rigid packaging. The rigid segment is anticipated to surpass USD 10 billion by 2032. Rigid packaging, which includes materials like plastic, metal, and glass, is known for its durability and resistance to physical damage, making it particularly suitable for sectors that require robust protection. This type of packaging plays a vital role in ensuring that products retain their structural integrity during transport and storage, especially in cold-chain logistics involving temperature-sensitive items.
When examining the insulated packaging market by end-use industry, it is divided into food and beverages, pharmaceuticals, industrial products, consumer goods, and more. The pharmaceutical sector is the fastest-growing segment, with an expected CAGR of over 9% from 2024 to 2032. Advances in personalized medicine and biotechnology have led to more complex pharmaceutical products, necessitating specialized cold-chain logistics. Consequently, pharmaceutical companies are increasingly investing in advanced insulated packaging to adhere to strict regulatory standards and ensure compliance with best practices in distribution.
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North America accounted for over 30% of the global insulated packaging market. The region's growth is driven by a rising need for temperature-sensitive products, particularly within the pharmaceutical and food sectors, emphasizing the demand for innovative insulated packaging solutions to facilitate safe transportation under specific temperature conditions.
Insulated Packaging Market Players
Companies including Amcor, Cold Chain Technologies, Cold Ice, Cryopak Industries, DuPont, Huhtamaki, Icertech, Innovative Energy, Insulated Products Corporation, Intelsius, MARKO FOAM PRODUCTS, Nordic Cold Chain Solutions, Pelican BioThermal, Polar Tech Industries, Sealed Air Corporation, Sofrigam, Sonoco Products Company, Tempack Packaging Solutions, Therapak, TP Solutions, Woolcool are some firms working in insulated packaging industry.
This insulated packaging market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue from 2021 to 2032, for the following segments:
Market, By Material
Plastic Metal Glass Corrugated cardboards Others
Market, By Type
Rigid Flexible Semi-rigid
Market, Packaging Type
Boxes & containers Bags & pouches Wraps Others
Market, End-use Industry
Food & beverages Pharmaceutical Industrial Consumer goods Others
About Global Market Insights
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