The global sales of insulated corrugated boxes market are estimated to be worth USD 5.1 billion in 2021 and are anticipated to reach a value of USD 8.4 billion by 2031. Sales are projected to rise at a CAGR of 5.1% over the forecast period between 2021 and 2031. The revenue generated by insulated corrugated boxes market in 2020 was USD 4.9 billion.
The pharmaceuticals, food & beverages, and biotechnology industries drive growth in the insulated corrugated boxes market due to their increased demand for temperature-controlled packaging. It is also expected that the rise in the e-commerce of perishable products-especially during the complete transition of the world to online shopping-will further contribute to market growth.
Growing interest in green packaging has brought about the introduction of eco-friendly insulated box solutions. Another critical driver is the expansion of the cold chain logistics sector to ensure the safe transportation of temperature-sensitive products. In addition, tighter regulations for the transport of perishable goods lead to growing demand. Power insurgencies owing to emerging technologies in packaging insulation further support market growth.
Global Insulated Corrugated Boxes Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2020 | USD 4.9 billion |
| Estimated Size, 2021 | USD 5.1 billion |
| Projected Size, 2031 | USD 8.4 billion |
| Value-based CAGR (2021 to 2031) | 5.1% |
The rise of the e-commerce business has resulted in a massive demand for insulated corrugated cartons all over the world. The introduction of scale-open retail ecosystem platforms has also aided the e-commerce sector's growth. These platforms provide retailers with enticing options for expanding and growing their capabilities.
As a result, the success of online shopping platforms can also be attributed to initiatives like Amazon Prime Day, which was one of the largest shopping events in history in July 2019. This event fueled the need for corrugated boxes by resulting in massive product sales that necessitated vast numbers of corrugated boxes for packaging.
Furthermore, due to its great crush resistance and high structural strength, corrugated packaging has seen an increase in demand for manufactured products ranging from television sets and smartphones to edible goods such as chocolates. As a result, the expansion of the packaging sector is critical to the growth of the insulated corrugated boxes market.
A prominent trend in the insulated corrugated carton is a greater emphasis on product recycling and sustainable packaging. Traditionally, corrugated boxes accounted for a significant amount of garbage because they were discarded after use, which had a negative influence on the environment.
Manufacturers across industries have begun to use new technologies for crushing and compaction, which aid in the recycling of corrugated boxes, to reduce trash accumulation. This results in the production of fiber, which can be utilized for a variety of purposes.
The logistics of insulated corrugated boxes has a lot of potential in developing countries like Brazil, India, and China because of their high growth potential. These countries also have a large supply of raw materials. The manufacturing sector, which includes food and drinks, automobiles, electronics, and chemicals, has benefited from China and India's strong economic growth.
As a result, the increased use of packaging across a variety of food products, particularly meat, fish, and poultry products, is driving demand for insulated corrugated cartons in the above- mentioned developing countries, as well as providing opportunities for corrugated box manufacturers in these countries to offer more variety.
USA is considered as the lucrative market for insulated corrugated boxes market globally. The expansion of the insulated corrugated carton market in North America will be aided by increased trade between nations as a result of expanding globalization.
Its versatility allows it to be used in a wide range of industries, including food and beverage, cosmetics and personal care, pharmaceuticals, and chemicals. These boxes helps to keep internal contents from spoiling as a result of temperature fluctuations.
Furthermore, rising packaged edible product consumption will have a positive impact on market growth due to increased processed food exports in the region.
The expanding food & beverage and cosmetics & personal care industries are two significant reasons driving the insulated corrugated carton market in Europe. In European nations such as France, Germany, Russia, and the United Kingdom, increased consumption of ready meals and other convenience-oriented items is also pushing the insulated corrugated cartons industry.
Furthermore, the growing demand for packaged food as a result of the faster pace of life and changing lifestyles of people propels the industry forward. Over the projection period, key advantages such as increased shelf life of food products, ease of handling, and efficacy in the avoidance of material contamination will also fuel market expansion.
Some of the leading manufacturers and suppliers of insulated corrugated carton include
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Insulated Corrugated Boxes Market
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