Insulated food containers keeps food hot as well as cold and maintains the food at a temperature sought after by the consumer. It maintains the temperature for different food types, such as hot cuisines and cold such as ice creams. It is easy to store food for long in insulated lunch boxes and can be eaten conveniently according to the time best suited by the user. An individual can easily have food according to preferred taste & temperature whether hot or cold, stored properly in insulated food containers made of steel and other materials.
Global insulated food container market was valued at US$ 1264.0 Million in 2021 in terms of revenue, exhibiting a CAGR of 5.9% during the forecast period (2022 to 2030).
Drivers
Factors such as increasing workforce is fueling growth of the insulated food container market. Increasing number of working population is resulting in huge demand for healthy and fresh food at the workplace. Insulated food containers are used to keep the things stored in hot/cold condition for a longer duration. Moreover, good quality containers prevent foodborne illness, ensuring the safety of food. These factors are expected to increase the demand for insulated food containers over the forecast period.
Growing food and beverage industry, coupled with rising awareness associated with food contamination are some of the major factors that are expected to propel growth of the market over the forecast period. According to a report by Indian Brand Equity Foundation in December 2020, the Indian food processing industry accounts for 32 per cent of the country’s total food market, one of the largest industries in India and is ranked fifth in terms of production, consumption, export and expected growth.
Asia Pacific is the fastest growing region and accounted for the largest market share of around 37.0% in 2021, owing to increasing adoption of insulated food containers to keep food hot and ensure food safety. Rising demand in emerging economies in Asia Pacific such as China, India & Japan attributing to improved economic conditions and lifestyles is driving the market growth. As per the United Nations environment protection program, the strong economic growth in the Asia Pacific region has lifted about 1 Million people out of extreme poverty since the turn of the century 2021.
Figure 1. Global Insulated Food Container Market Value Share (%), By Region, 2021
Market Restraints
High cost associated with insulated food container is projected to hamper the market growth. However, technology advancements in the industry is expected to increase demand for insulated food container in the near future. Favourable growth of food and beverages industry across the globe creates a high growth opportunity for manufacturers in the insulated food container industry.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2021 | Market Size in 2021: | US$ 1264.0 Mn |
| Historical Data for: | 2017-2021 | Estimated Year | 2022 |
| Forecast Period 2022 to 2030 CAGR: | 5.9% | Forecast Period: | 2022-2030 |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
Cambro Foodservice Equipment and Supplies, Carlisle FoodService Products, Newell Brands, Zojirushi America Corporation, Stanley, Kuukware, Thermos L.L.C., Hamilton Housewares Pvt. Ltd., Huhtamaki, TokyoPlast, Zojirushi American Corporation, and Tupperware |
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| Restraints & Challenges: |
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Market Trends
The expansion in consumption of prepared food, which is given by speedy-service merchants is boosting the sales of insulated food containers which is a key trend in the global insulated food containers market. Increasing demand for the insulated food containers for the household use to keep the food warm and fresh for a long time is the key trend in the global insulated food containers market. Further, the simple methodology involved in the manufacturing of insulated containers has advanced the quality of the food.
Figure 2. Global Insulated Food Container Market Value Share (%), By Product Type, 2021
Among product type, stainless steel segment held significant market share of 42.0% in the global insulated food container market in 2021. The segment growth is driven by the benefits offered by stainless steel, which includes temperature control and assured food safety. Moreover, increasing purchasing power is shifting consumer preference towards technically advanced and sophisticated household items, which in turn is expected to drive the demand for insulated food containers in the near future.
Recent Developments
Competitive Section
Major players operating in the global insulated food containers market include Cambro Foodservice Equipment and Supplies, Carlisle FoodService Products, Newell Brands, Zojirushi America Corporation, Stanley, Kuukware, Thermos L.L.C., Hamilton Housewares Pvt. Ltd., Huhtamaki, TokyoPlast, Zojirushi American Corporation, and Tupperware
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.
Market Dynamics
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:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section
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