Insulated Packaging Market To Reach $24.29 Billion By 2030

Insulated Packaging Market Growth & Trends

The global insulated packaging market size is expected to reach USD 24.29 billion by 2030, registering a CAGR of 5.6% from 2023 to 2030, according to a new report by Grand View Research, Inc. Increasing demand for pharmaceuticals coupled with the rising disposable income of people in developing economies is expected to positively drive the market over the forecast period.

Growing concerns have urged regulatory bodies in the UK, Russia, the U.S., Canada, and China to issue stringent guidelines regarding the manufacturing of insulated packaging products. The General Administration of Quality Supervision; Inspection and Quarantine of the People’s Republic of China; U.S. Food & Drug Administration (FDA); World Plastics Organization (WPO); and Plastics Europe have laid down strict guidelines for manufacturers and distributors concerning the quality of the insulated packaging products.

The U.S. FDA has laid down guidelines for the use of insulated packaging for food & beverages. The U.S. Center for Food Safety and Applied Nutrition (CFSAN) and U.S. Office of Food Additive Safety have also laid down guidelines to ensure the safety of insulated packaging products utilized to package various food products, juices, carbonated beverages, and energy drinks.

Rising demand for packaged food & beverages, cosmetics, and medicines on account of the globally growing population and rapid industrialization have led to a large-scale requirement for packaging products. Increasing participation by manufacturers to sustain the demand coupled with the growing government funding is projected to drive the market over the forecast period. A large number of manufacturing companies are shifting their focus toward developing new solutions based on thermal resistant raw materials such as polystyrene, EPS Styrofoam, polyethylene, and polyurethane to overcome technological and environmental challenges.

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Insulated Packaging Market Report Highlights

• The corrugated cardboards segment accounted for the largest revenue share of 27.7% in 2022.

• The rigid segment accounted for the largest revenue share of 39.7% in 2022. Rigid packing products are derived from paperboard, fiberboard, plastics, corrugated cardboard, and paper.

• The pharmaceutical segment is expected to grow at the fastest CAGR of 6.1% over the forecast period. Pharmaceutical IP is subjected to stringent regulations across the globe on account of its use in the healthcare sector and the damage it may cause to patients due to discrepancies.

• Asia Pacific dominated the market and accounted for the largest revenue share of 33.5% in 2022. Rapid urbanization, better government balance sheets resulting in increased infrastructure spending, and increasing disposable income are some of the major growth contributors for the IP industry in the Asia Pacific region.

Insulated Packaging Market Segmentation

Grand View Research has segmented the global insulated packaging market on the basis of on type, product, application, and region:

Insulated Packaging Type Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Rigid

• Flexible

• Semi-rigid

Insulated Packaging Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Corrugated Cardboards

• Metal

• Glass

• Plastic

• Others

Insulated Packaging Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Cosmetic

• Pharmaceutical

• Industrial

• Food & Beverages

• Others

Insulated Packaging Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • Japan

  • India

  • Australia

  • Thailand

  • South Korea

  • Indonesia

  • Malaysia

• Central & South America

  • Brazil

  • Argentina

• Middle East and Africa

  • Saudi Arabia

  • South Africa

List of Key Players in the Insulated Packaging Market

• Sonoco Products Company

• DuPont

• Deutsche Post AG

• Amcor plc

• Huhtamaki Oyj

• Innovative Energy Inc.

• TP Solutions GMBH

• Cold Ice Inc.

• Ecovative LLC.

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