Insulated packaging is a type of shipping container designed to keep items at a constant temperature for an extended period of time. It is frequently used for food, pharmaceuticals, and other temperature-sensitive products that must maintain a specific temperature range during transport. Insulated packaging is becoming more popular because it reduces the amount of energy required to keep the item at the desired temperature while also reducing the amount of waste generated in the form of packaging materials. Insulated packaging is becoming more popular as more businesses seek ways to reduce their carbon footprint and make their products more sustainable.
The global insulated packaging market size is estimated to grow from USD 11.4 billion in 2020 to USD 15.8 billion by 2025, at a CAGR of 6.7% during the forecast period. The market is projected to witness decent growth in the near future, owing to the wide application in various end use industries of insulated packaging ranging from automotive to pharmaceutical industry. Increasing demand from APAC will further drive the growth of the global insulated packaging market.
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The major factors driving the growth of the Asia Pacific insulated packaging market are rising demand for processed and packaged food products, increased consumer awareness of the benefits of insulated packaging, and rising consumer spending. Furthermore, rising demand for frozen and chilled food products due to an increase in international tourists and an increase in the number of food delivery services is contributing to the growth of the Asia Pacific insulated packaging market. Furthermore, rising demand for insulated packaging in the pharmaceutical sector, driven by rising demand for temperature-sensitive drugs, is driving demand in the Asia Pacific region. Furthermore, the presence of major insulated packaging manufacturers, as well as increasing consumer preference for eco-friendly packaging, are expected to drive the growth of the Asia Pacific insulated packaging market.
Deutsche Post DHL (Germany), E. I. Du Pont De Nemours and Co. (US), Amcor Limited (Australia), Sonoco Products Company (US), and Huhtamaki OYJ (Finland) among others are the leading insulated packaging manufacturers, globally. These companies adopted expansion, joint venture, and merger & acquisition as their key growth strategies between 2017 and 2020 to earn a competitive advantage in the insulated packaging market.
Deutsche Post DHL (Germany) is the largest player in the market. It is investing in the expansion of the Packstation network. By 2021, 3,000 new DHL Packstations are to be added to the existing network of 4,000 automated parcel delivery and collection points. With these installed, the group will offer customers access to 7,000 Packstations located throughout the US.
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E.I Du Pont De Nemours and Co. (US) is ranked second in the insulated packaging market. DuPont is planning to expand its manufacturing and technology presence in Chesterfield County, Virginia. The company will invest USD 75 million in the Spruance site with plans to create approximately 60 new jobs over the next several years.
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