GVR Report cover Insulated Food Containers Market Size, Share & Trends Report

Insulated Food Containers Market Size, Share & Trends Analysis Report By Product (Stainless Steel, Plastics), By Distribution Channel, By Region, And Segment Forecasts, 2019 - 2025

  • Report ID: GVR-3-68038-173-3
  • Number of Pages: 80
  • Format: Electronic (PDF)

Report Overview

The global insulated food containers market size was valued at USD 1.5 billion in 2018. Growing popularity of insulated packaging for providing fresh and chilled food as per the convenience of the consumers is expected to remain a favorable factor for the market growth in the forecast period.

Furthermore, technological advancements in terms of the development of lightweight plastics as rust-free alternatives to metals are projected to expand the customer’s base in the near future. As of 2018, over 60% of the global population are employed and their growth rate was estimated 1.5% from 2013 to 2018.

U.S. insulated food containers market

It has been observed that it takes around five to six hours from preparation of food to actual consumption by the working population. Demand for quality and fresh food is driving the consumers to purchase insulated food container. Increasing long work duration by middle class population in developing countries such as China and India is expected to promote the scope of insulated packaged mediums for keeping the food warm and fresh.

Over the past few years, insulated tote bags have gained popularity as a result of their durability and aesthetic features among working class population across the globe. Demand for insulated tote bags is rising in the developed countries of North America and Europe as they use it to carry beverages on picnics and outings. Companies including Thermos L.L.C. offer insulated tote bags to carry up to 24 cans.

Product Insights

In 2018, stainless steel accounted for the largest share of 58.9%. These products are considered to be safe, non-reactive, and non-toxic to even acidic foods including tomatoes. The food safety and excellent break resistance associated with the products are expected to prompt the insulated food containers market growth. Furthermore, the usage of stainless steel products limits the transfer of odor and bacteria.

The plastic segment is expected to witness the fastest growth from 2019 to 2025. Shifting consumer preference towards packaging materials with lightweight features is expected to remain a favorable factor. Another factor contributing to the segment growth is cost effectiveness. It has been observed that the average cost of plastic container is one third of stainless steel-based product type.

Distribution Channel Insights

The hypermarkets and supermarkets segment accounted for the largest share of more than 45.0% of the global revenue in 2018. This segment growth is attributed to its extensive presence across all the regions. Insulated food containers are offered along with various consumer benefits including discounts, which drives the consumer to opt for supermarkets and hypermarkets as selling mediums.

U.S. insulated food containers market size

The online segment is projected to expand at the fastest CAGR of 6.8% from 2019 to 2025 on account of easy product selection and doorstep product delivery services. It has been observed that online retail sales were 9% in the U.S. and 17% in the U.K. The penetration rate is high in emerging economies such as China and India due to growing smartphone adoption at a domestic level.

Regional Insights

Asia Pacific is expected to register the fastest CAGR of 6.2% from 2019 to 2025 on account of rising demand from the corporate sector. As per the report of International Labour Organization, in 2018, around 68.2% of the Asian population is employed and the number is growing significantly. Growing social media influence among consumers is driving people to spend more on food and personal hygiene products. Large number of population in the corporate sector, schools, and colleges is creating significant demand in this region.

It has been observed that the majority of the student population prefer to carry home cooked lunch at their school and colleges. China was the largest market, accounting for 41.0% share of the Asia Pacific market in 2018. India is the fastest growing country owing to increasing disposable income among middle income age groups. A large number of special economic zones (SEZs) are coming up in India owing to growing demand for commercial office spaces by IT companies and multinationals. The above-mentioned favorable macroeconomic scenario in emerging economies including China and India is expected to expand the market size in the near future.

North America accounted for exceeding 20.0% of the global revenue in 2018. It has been observed that consumer requirements of warm food at workplace is comparatively high in this region. As of 2019, around 130 million full-time employees are working in U.S., which is expected to open new avenues for the market. Furthermore, the rise in the middle-income age groups in countries including Mexico is expected to remain a favorable factor over the next few years.

Key Companies & Market Share Insights

Key players of the industry include American Aerogel, Huhtamaki, Zojirushi America Corporation, Cambro Foodservice Equipment and Supplies, Carlisle FoodService Products, Thermos L.L.C, Stanley, Hamilton Housewares Pvt Ltd., Valor Industries, and TokyoPlast. Companies are investing in new product launches to increase their market share.

For instance, in 2017, Avon Appliances launched stainless steel insulated food container of 14 to 40 liters capacity. Furthermore, strong customer base and supportive government policies to promote investments in emerging economies including China and India are expected to force industry participants to establish their strategic partnerships in vicinity over the next few years.

Insulated Food Containers Market Report Scope 

Report Attribute

Details

Market size value in 2020

USD 1.6 billion

Revenue forecast in 2025

USD 2.1 billion

Growth Rate

CAGR of 5.5% from 2019 to 2025

Base year for estimation

2018

Historical data

2015 - 2017

Forecast period

2019 - 2025

Quantitative units

Revenue in USD million & CAGR from 2019 to 2025

Report coverage

Revenue forecast, company share, competitive landscape, growth factors and trends

Segments covered

Product, distribution channel, and region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Germany; U.K.; China; India; Brazil; South Africa

Key companies profiled

American Aerogel; Huhtamaki; Zojirushi America Corporation; Cambro Foodservice Equipment and Supplies; Carlisle FoodService Products; Thermos L.L.C; Stanley; Hamilton Housewares Pvt Ltd.; Valor Industries; TokyoPlast

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options


Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Grand View Research has segmented the global insulated food containers market report on the basis of product, distribution channel, and region:

  • Product Outlook (Revenue, USD Million, 2015 - 2025)

    • Stainless Steel

    • Plastics

    • Others

  • Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)

    • Hypermarkets & Supermarkets

    • Convenience Store

    • Online

  • Regional Outlook (Revenue, USD Million, 2015 - 2025)

    • North America

      • The U.S.

    • Europe

      • Germany

      • The U.K.

    • Asia Pacific

      • China

      • India

    • Central & South America

      • Brazil

    • Middle East & Africa

      • South Africa

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