Report says insulated packaging to notch up USD 27.64-bn by 2032

As per a report by Towards Packaging, the insulated packaging market is poised for substantial growth, projecting a surge from its estimated worth of USD 14.38-bn in 2022. Forecasts based on a robust 6.8% CAGR between 2023 and 2032 paint a promising trajectory, expecting the market to soar to an estimated USD 27.64-bn by 2032

07 Dec 2023 | By Charmiane Alexander

Key players in the segment include Amcor PLC, Cryopak, Davis Core & Pad, DS Smith and Innovative Energy, Eco-Products, Huhtamaki, ThermoSafe Brands, and Pelican BioThermal

As per Abhishek Sable of Towards Packaging, "The insulated packaging market is experiencing significant global growth driven by various regional factors reshaping the industry landscape." The report says, "North America's market is thriving due to the increasing demand for temperature-sensitive goods, such as pharmaceuticals and perishable food items. Also, government initiatives in Mexico are fueling substantial growth in the regional industrial sectors."

Financial support from the Organisation for Economic Co-operation and Development (OECD) for manufacturing activities, combined with the rising demand for smart packaging products, particularly in the food and beverages sector, is expected to further propel the intelligent packaging market in the region. This trend is indicative of a positive trajectory for the market.

Insulated packaging is important because of the role it plays in the pharmaceutical industry. Likewise corrugated cardboard, versatile and eco-friendly, plays a key role in the insulated packaging market.

Towards Packaging says, "The continuous expansion of global trade and e-commerce activities stands as a primary driver stimulating the demand for insulated packaging solutions. This surge in demand is chiefly attributed to the need for safe and secure transportation of temperature-sensitive goods across vast distances"

Temperature-sensitive medications and vaccines in the pharmaceutical industry require stringent temperature control during transit. Which is why, corrugated cardboard packaging with insulating layers ensures the integrity of these products, safeguarding public health. Similarly, the food and beverage industry benefits immensely from insulated packaging, especially for perishable items like fresh produce and dairy products. Maintaining the cold chain is imperative in preserving these goods; freshness and nutritional value, making corrugated cardboard insulated packaging indispensable.

Towards Packaging is a leading global consulting firm specialising in providing comprehensive and strategic research solutions across various industries.

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The packaging industry is confused by recycling and sustainability rules in India. What is the biggest challenge?

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