Insulated Packaging Market expected to stand at USD 14.2 Billion by 2020, at a CAGR of 5.12%, between 2015–2020
The report "Insulated Packaging Market by Material Type (Plastic, Wood, Corrugated Cardboard, Glass), Application (Food & Beverages, Industrial, Pharmaceutical, Cosmetics), by Packaging Type, Type, and Region - Global Forecast to 2020" published by MarketsandMarkets, The Insulated Packaging Market is projected to reach USD 14.2 Billion by 2020, at a CAGR of 5.12% during the forecast period from 2015 to 2020.
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The market for insulated packaging is observed to be matured in developed economies, such as Europe. The reason behind this is the rapid growth in the parent packaging market and increasing concern towards product presentation and safety in this region. The Asia-Pacific region formed the largest market for insulated packaging, in terms of value, after having accounted for USD 3,391.6 million in 2014. Europeformed the second-largest market, with a market share of ~30.0%. This region is projected to be the fastest-growing market for insulated packaging during the forecast period from 2015 to 2020.
The market for insulated packaging is driven by the growth in the packaging industry along with innovative packaging. High disposable income has enabled the end-users to spend more on insulated packaging, which facilitates thermal insulation. Most importantly, the changing mind set of end-users has triggered the usage of insulated packaging in their day-to-day life. The global Insulated Packaging Market is marked with an intense competition due to the presence of a large number of big and small firms.
Key Companies such as Deutsche Post DHL (Germany), E.I. Du Pont De Nemours and Co. (U.S.), Huhtamaki OYJ (Finland), and Sonoco Products Company (U.S.) are some of the prominent companies in the insulated packaging market, comprising the major market share
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