Global insulated packaging market to reach $14.2 billion by 2020

The market for insulated packaging is expected to reach a stage of maturity in developed economies, such as Europe, owing to the rapid growth in the parent packaging market and an increasing concern towards product presentation and safety. The Asia-Pacific region formed the largest market for insulated packaging, in terms of value, and the fastest growing market, having accounted for $3,391.6 million in 2014. Europe formed the second-largest market, with a market share of 30%.

The report by Research and Markets, "Insulated Packaging Market by Material Type (Plastic, Wood, Corrugated Cardboard, Glass), Application (Food & Beverages, Industrial, Pharmaceutical, Cosmetics), by Packaging Type, and Region - Global Forecast to 2020," also states that the food and beverages sector is the fastest-growing insulated packaging application, which is growing at a CAGR of 5% during the period under review. Factors such as an increasing end-use application for insulated packaging products due to the growing middle-class population, coupled with a growing workforce, make insulated packaging an attractive market of the global packaging industry.

Insulated packaging is utilized for multiple applications, such as food & beverages, industrial, pharmaceutical, cosmetics and others. Niche markets in which insulated packaging is used are agriculture, aerospace, nutraceuticals, and sporting goods.The global insulated packaging market is marked with an intense competition due to the presence of a large number of big and small firms. New product launches, mergers and acquisitions, and partnerships and expansions are the key strategies adopted by market players to ensure their growth in this market.