Insulated food container keeps the food either hot or cold for a long duration. Growing food and beverage industry and awareness among the populace about food contamination and food quality is driving growth of the insulated food container market. Demand for quality and fresh food is driving the consumers to purchase insulated food container. Increasing long work duration by middle class population in developing countries such as China and India is expected to promote the scope of insulated packaged mediums for keeping the food warm and fresh.
Among distribution channel, online segment is gaining traction in the market. Growing food processing industry, busy lifestyle of consumers worldwide, and faster food delivery options provided by various food chains through online platform is driving growth of the segment in the insulated food container market. According to the data provided by the Federation of Indian Chambers of Commerce & Industry (FICCI), in 2016, online sales value of food and beverages in India steadily increased, owing to increasing internet penetration and growing retail industry in the country.
Asia Pacific held a significant market share in 2021 due to increasing population and increasing awareness about food quality, preservation, and its nutritious value. Insulated food container keeps the food fresh by maintaining the appropriate temperature conditions and hence, maintaining the quality and nutritional value of the food. These advantages of insulated food containers is driving the market growth in Asia Pacific region.
Insulated food containers have a tremendous reach in the variety of food made available by many vendors in the food industry. The availability of various sizes of insulated containers has eased the various operations involved in the food industry and has made it easy for the transportation of food as well. This creates the opportunity for all players to expand their services worldwide and fuel the sales of insulated food containers.
The plastic segment form the product type holds the significant market share in the global insulated food containers market in 2021. Shifting consumer preference towards packaging materials with lightweight features is expected to remain a favorable factor. Another factor contributing to the segment growth is cost effectiveness. It has been observed that the average cost of plastic container is one third of stainless steel-based product type.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section