Asia Pacific Insulated Packaging Materials Market

Market Introduction

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.

Market Overview and Dynamics

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.

Key Market Segments

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.

Major Sources and Companies Listed

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.     

Reasons to buy report

• To understand the APAC insulated packaging materials market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for APAC insulated packaging materials market
• Efficiently plan M&A and partnership deals in APAC insulated packaging materials market by identifying market segments with the most promising probable sales
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form APAC insulated packaging materials market
• Obtain market revenue forecast for market by various segments from 2021-2028 in APAC region.

APAC Insulated Packaging Materials Market Segmentation

APAC Insulated Packaging Materials Market - By Material Type

• Plastic
• Wood
• Corrugated Cardboard
• Others

APAC Insulated Packaging Materials Market - By Type

• Single Use
• Reusable

APAC Insulated Packaging Materials Market - By End User

• Pharmaceutical
• Food and Beverages
• Cosmetic
• Industrial
• Others

APAC Insulated Packaging Materials Market - By Country

• Australia 
• China 
• India
• Japan
• South Korea
• Rest of APAC 

APAC Insulated Packaging Materials Market - Company Profiles

• Cascades inc.
• Cool Pac
• ICEE Containers Pty Ltd  
• Sancell
• Sealed Air

Asia Pacific Insulated Packaging Materials Market Strategic Insights

Asia Pacific Insulated Packaging MaterialsMarket Report Highlights

Asia Pacific Insulated Packaging Materials Market Country and Regional Insights