Asia Pacific Insulated Packaging Materials Market
No. of Pages: 99 | Report Code: TIPRE00025864 | Category: Chemicals and Materials
No. of Pages: 99 | Report Code: TIPRE00025864 | Category: Chemicals and Materials
APAC comprises several major economies such as India, China, Japan, South Korea, and Australia. These countries are witnessing an upsurge in industrialization and urbanization activities, which is offering ample opportunities for the key players in the insulated packaging materials market. APAC is the fastest-growing economic region, as well as the largest continental economy in the world. The rising demand for insulated packaging in countries such as India and China attributed to the enhanced economic conditions and lifestyles, which is fueling the growth of the insulated packaging industry. APAC is one of the largest foods & beverage industries due to its high population density and disposable income. The growing distribution channel in APAC drives the food & beverages industry. APAC is home to a few of the world's largest e-commerce companies, such as Alibaba and Amazon, and well-established offline retailers. In September 2020, BASF’s developed SLENTEX high-performance insulation material, which ensures the freshness of food across the entire distribution process. Furthermore, the demand for frozen food is growing in APAC due to busy lifestyles and schedules. The consumer preference toward convenience foods is increasing as the making of these food items requires less time and effort as compared to cooking from scratch, which indirectly propels the demand for insulated packaging. Increasing disposable income is another aspect that has a significant impact on the frozen food market's growth because it boosts consumers' purchasing power. The growth of the APAC insulated packaging materials market is driven by an increase in disposable income and a rise in demand for frozen foods.
The Asian economies have been hit hard due to the COVID-19 pandemic. India recorded the highest number of cases, and the emergence of new COVID-19 waves in India, Thailand, and other Asian economies has prolonged the effect of the pandemic upon several industries. As the majority of population in India and China has begun opting for online food and medicines due to the pandemic situation, these countries are witnessing significant growth in their pharmaceutical and food & beverage industries, which is subsequently driving the insulated packaging materials market is in the region.
Strategic insights for the Asia Pacific Insulated Packaging Materials provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 5,751.09 Million |
| Market Size by 2028 | US$ 8,310.05 Million |
| Global CAGR (2021 - 2028) | 5.4% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Material Type
|
| Regions and Countries Covered | Asia-Pacific
|
| Market leaders and key company profiles |
The geographic scope of the Asia Pacific Insulated Packaging Materials refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The APAC insulated packaging materials market is expected to grow from US$ 5,751.09 million in 2021 to US$ 8,310.05 million by 2028; it is estimated to grow at a CAGR of 5.4% from 2021 to 2028. Rising per capita disposable income, increasing investments in the improvement of cold chain infrastructure, growing end-user industries, and accessibility to medical facilities attribute to the growth of the insulated packaging materials market. In the past few years, the healthcare and pharmaceuticals industries have witnessed an unprecedented rise in demand for temperature-controlled/insulated packaging due to an increase in the demand and transportation of temperature-sensitive pharmaceuticals products and samples. Various biopharmaceuticals, such as tissue samples, vaccines, gene therapy products, and enzymes, are temperature sensitive and must be kept at specific temperatures during transportation and storage. The pharmaceuticals industry facilitates the demand for insulated packaging, which, in turn, catalyzes the demand for insulated packaging materials. The rising prevalence of diseases and ailments propels the demand for vaccines, medicines, testing kits, and gene therapies, which require insulated packaging as they are sensitive to temperature and humidity. In March 2020, the World Health Organization (WHO) declared COVID-19 a pandemic and since then the demand for medicines for the treatment of COVID-19, COVID-19 testing kits, and COVID-19 vaccines has been on a rise. Prominent COVID-19 vaccine manufacturers are exporting the vaccine to international markets to meet the demand. All countries across the region are focused on getting their entire population fully vaccinated to curb the spread of the novel coronavirus that causes COVID-19 and avoid the emergence of its new variants. However, the target to achieve full vaccination amongst the entire population of the respective countries is still lagging, resulting in potential demand for vaccines across the region. Thus, the lucrative trade of biopharmaceuticals boosts the demand for insulated packaging in the pharmaceuticals industry, which, in turn, drives the growth of the APAC insulated packaging materials market.
In terms of material type, the corrugated cardboard segment accounted for the largest share of the APAC insulated packaging materials market in 2020. In terms of type, the reusable segment held a larger market share of the APAC insulated packaging materials market in 2020. Further, the food and beverages segment held a larger share of the APAC insulated packaging materials market based on end user in 2020.
A few major primary and secondary sources referred to for preparing this report on the APAC insulated packaging materials market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Cascades inc., Cool Pac, ICEE Containers Pty Ltd, Sancell, and Sealed Air.
The Asia Pacific Insulated Packaging Materials Market is valued at US$ 5,751.09 Million in 2021, it is projected to reach US$ 8,310.05 Million by 2028.
As per our report Asia Pacific Insulated Packaging Materials Market, the market size is valued at US$ 5,751.09 Million in 2021, projecting it to reach US$ 8,310.05 Million by 2028. This translates to a CAGR of approximately 5.4% during the forecast period.
The Asia Pacific Insulated Packaging Materials Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Insulated Packaging Materials Market report:
The Asia Pacific Insulated Packaging Materials Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Insulated Packaging Materials Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Insulated Packaging Materials Market value chain can benefit from the information contained in a comprehensive market report.
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