Insulated packaging: Key market research findings
- APAC dominates the market geographically
- Boxes and containers account for a majority of the market’s revenue
- Key vendors – Amcor, Deutsche Post DHL, Huhtamaki, Innovative Energy, and Sonoco
Technavio’s market research analysts predict the global market for insulated packaging to grow at a CAGR of almost 6% between 2016 and 2020. The growth of this market can be accredited to the rise in the demand for compostable packaging. Vendors are developing their R&D for packaging products that are eco-friendly and biodegradable. For instance, Ecovative Design introduced a new product called mushroom packaging, which uses mushroom mycelium and agricultural waste like husks and corn stalks to create an alternative to foam packaging. During 2015, the global insulation packaging market was dominated by APAC with a market share of around 33%. Factors such as urbanization, industrialization, and an increase in international trade activities will boost the demand for insulated packaging in the APAC region during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the insulated packaging segments based on the product type.
“With the increasing adoption of insulated packaging materials, vendors in the market have started investing in new and innovative technologies for the development of new innovative products. The development and adoption of innovative technologies creates product differentiation and helps vendors to increase their market shares. The Huhtamaki Group is planning on implementing an advanced investment plan because of the rising demand for insulated packaging materials. The company has installed new machinery for insulated paper cups in its facility in Gosport,” says Sharan Raj, Lead Analyst, Transportation & Logistics, Technavio Research.
During 2015, the boxes and containers segment accounted for about 43% of the overall market share to become the key revenue generating vertical in the global market. Insulated boxes and containers are primarily used to transport goods in bulk. The market for boxes and containers is expected to grow at a moderate rate during the forecast period owing to the enormous demand from the pharmaceuticals sector and an increase in e-sales of perishable goods.
The key vendors in the market include Amcor, Deutsche Post DHL, Huhtamaki, Innovative Energy, and Sonoco. Global players are focused on entering into strategic agreements for acquiring small local companies to expand their product offerings along with their geographical reach. Recently, Huhtamaki acquired Interpac Packaging, which is based in New Zealand and produces folded carton packaging, and Positive Packaging as it specializes in flexible packaging solutions.
A more detailed analysis is available in the Technavio report, Global Insulated Packaging Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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