The Asia-Pacific insulated packaging market is projected to grow at a CAGR of 4.9% during the forecast period. The key factors that drive the market include the rise in the disposable income, rising middle-class population along with the economic growth and urbanization are driving the market growth of the region. The increasing influence from western culture is propelling the demand for packaged foods and on the go consumption across the region.
Along with these aforementioned factors, the rise in the various end-user industries is also driving the market growth; as this packaging can avert the damage to temperature-sensitive products including foods, medicines, cosmetics, and others. Thus, these high-growth industries in the region are likely to bolster the demand for insulated packaging for healthcare, food & beverage over the forecast period.
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Further, the growth in the food & beverages sector is also strongly influencing the market growth. The consumption of frozen meat, fish, pork, and other kinds of seafood is gaining traction and becoming a trend in the region. Japan, Malaysia, and China are among the major consumers of seafood, which are driving the market growth. Moreover, a substantial rise in the e-commerce industry.
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As per the Active & Intelligent Packaging Industry Association (AIPIA), China is the second-largest packaging economy across the globe, and growth is expected to continue well more than 5% and reaching nearly $350 billion by 2020. With the emerging demand for packaging, there is a significant opportunity for market growth. Thus, with the emerging online food delivery market coupled with the consumers’ demand for packaged foods and frozen foods, the demand for insulated packaging is expected to grow significantly.
Market Coverage
- Market number available for – 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segment Covered- By Material, By Product Type, By Application
- Competitive Landscape- DS Smith PLC, Nippon Paper Industries Co. Ltd, Huhtamaki Group Oyj, Amcor Plc, and others
Key Questions Addressed by the Report
- What is the market growth rate?
- Which segment dominates the market in the base year?
- Which segment will project the fastest growth in the market?
- How COVID-19 impacted the market?
- Recovery Timeline
- Deviation from the pre-COVID-19 forecast
- Most affected segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Asia-Pacific Insulated Packaging Market – Segmentation
By Material
- Corrugated Cardboard
- Plastics
- Glass
- Others
By Product Type
- Rigid
- Semi-Rigid
- Flexible
By Application
- Food & Beverages
- Pharmaceuticals
- Cosmetics & Personal Care
- Others
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
