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.
Browse the full report description of "Asia-Pacific Insulated Packaging Market Size, Share & Trends Analysis Report by Material (Corrugated Cardboard, Plastics, Glass, and Others), by Product Type (Rigid, Semi-Rigid, and Flexible), and by Application (Food & Beverages, Pharmaceuticals, Cosmetics & Personal Care, and Other Applications) Forecast, 2020-2026" at https://www.omrglobal.com/industry-reports/asia-pacific-insulated-packaging-market
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.
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
Key Questions Addressed by the Report
o Recovery Timeline
o Deviation from the pre-COVID-19 forecast
o Most affected segment
Asia-Pacific Insulated Packaging Market – Segmentation
By Material
By Product Type
By Application
Asia-Pacific Insulated Packaging Market – Countries Covered