Insulated Packaging Industry Market: By Material Type (Plastic, Wood, Glass), By Product Type (Bags & Pouches, Boxes, Containers), By End User (Food & Beverage, Industrial, Pharmaceuticals, Others) and Geography

Insulated Packaging Industry Market was valued at USD 11.5 billion in 2022 and is anticipated to grow at USD 15.9 billion till 2028 recording a CAGR of 6.8% from 2023-2029. Insulation material is a material (or a mixture of materials) with a low thermal conductivity that resists heat flow. Thermal abuse is a key problem when transporting temperature-sensitive goods as a result, most major industries, including food and beverage, pharmaceuticals, healthcare, chemicals, cosmetics, and others, rely extensively on insulated packing materials. During transportation, products from these industries may be exposed to severe temperatures (hot or cold), vibration, and pressure. To avoid spoiling and maintain product requirements, effective packaging solutions are essential in such instances. Insulated packaging is said to be the best way to keep things cold, frozen, or warm while also lessening the effects of changing temperatures. Fluctuations in temperature is considered to be the leading concern during the imports of temperature dependent goods in electronics, pharmaceuticals, food, etc.

The demand for insulated packaging is mounting as it can aids in temperature maintenance within a tolerable value and slow down the rate at which the deterioration of goods occur during transportation and distribution. In addition, a wide range of properties are exhibited by insulated packaging materials such as good mechanical strength, high resistance of heat transfer, cost-effectiveness, ease of fabrication and transportation, which further augments the market growth. However, the high cost of these materials severely dampen the market growth. Key players in Insulated Packaging industry market enhance their product portfolio and consumer base by adopting striking market strategy like collaborations, acquisitions, technological innovations, among others. For instance, May 2017 Cryopak announced its partnership with Purolator, a freight, package and logistics provider, with one of the most extensive networks in Canada. The relationship is expected to allow Cryopak to strengthen its reputation as an integrated, full-service supply solutions provider.