(Entertainment-NewsWire.com, January 31, 2023 ) The global Insulated Packaging Market size is estimated to grow from USD 11.4 billion in 2020 to USD 15.8 billion by 2025, at a CAGR of 6.7% during the forecast period. The market is projected to witness decent growth in the near future, owing to the wide application in various end use industries of insulated packaging ranging from automotive to pharmaceutical industry. Increasing demand from APAC will further drive the growth of the global insulated packaging market.
Deutsche Post DHL (Germany), E. I. Du Pont De Nemours and Co. (US), Amcor Limited (Australia), Sonoco Products Company (US), and Huhtamaki OYJ (Finland) among others are the leading insulated packaging manufacturers, globally. These companies adopted expansion, joint venture, and merger & acquisition as their key growth strategies between 2017 and 2020 to earn a competitive advantage in the insulated packaging market.
Deutsche Post DHL (Germany) is the largest player in the market. It is investing in the expansion of the Packstation network. By 2021, 3,000 new DHL Packstations are to be added to the existing network of 4,000 automated parcel delivery and collection points. With these installed, the group will offer customers access to 7,000 Packstations located throughout the US.
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E.I Du Pont De Nemours and Co. (US) is ranked second in the insulated packaging market. DuPont is planning to expand its manufacturing and technology presence in Chesterfield County, Virginia. The company will invest USD 75 million in the Spruance site with plans to create approximately 60 new jobs over the next several years.
Asia Pacific accounted for the largest share of the Insulated packaging market in 2020. Factors such as the rapidly increasing consumption of insulated packaging in the food & beverages and pharmaceuticals industries in countries such as China, Japan, India, South korea, and Australia have led to an increased demand for Insulated packaging in the Asia Pacific region.
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