Global Stainless Insulated Container Market – Insights
Stainless insulated container are containers, which are used to carry or store food and beverages at their original temperature for longer hours. These containers ensure the safety of the food and beverage items by protecting it against foodborne illness. The growth of food and beverage industry, increasing working population, and rising preferences of populace towards sustainable alternatives is predicted to boost the demand for stainless insulated container over the near future.
Furthermore, increasing internet penetration is driving growth of online distribution channel segment, which is a key factor fueling growth of global stainless insulated container market. For instance, according to International Telecommunication Union, in 2017, 48.6% of the global population i.e. 3.6 billion people had access to internet, which increased to 51.2% (3.9 billion people) by end of 2018.
Growth of e-commerce platforms in emerging economies is expected to drive growth of online distribution channel segment. According to India Brand Equity Foundation, India’s e-commerce industry generated revenue of US$ 39 billion in 2017, which is expected to reach US$ 120 billion by 2020, exhibiting an annual growth of 51%.
Moreover, increasing number of working population is resulting in huge demand for healthy and fresh food at workplace. Insulated food containers are used to keep food items stored in hot/cold condition for longer duration. Moreover, good quality containers prevent foodborne illness, ensuring safety of food. These factors are expected to increase the demand for insulated food container over the forecast period.
Insulated containers made from stainless steel are the most preferred containers due to benefits offered by stainless steel such as temperature control and assured food safety. Moreover, increasing disposable income is shifting consumer preference towards stainless insulated food containers, which is expected to drive growth of global stainless insulated container market over the forecast period. For instance, according to National Bureau of Statistics of China, China’s per capita disposable income was US$ 4,104 in 2018, showing a growth of 8.7% from 2017.
However, prices of stainless insulated container are high compared to plastic containers, which is expected to hamper growth global of stainless insulated container market in the near future.
The global stainless insulated container market was valued at US$ 4,533.2 Mn in 2018, and is expected to register a CAGR of 5.1%, in terms of revenue over the forecast period (2019-2027), to reach US$ 6,931.8 Mn by 2027.
Figure 1. Global Stainless Insulated Container Market Share (%), By Region, 2018
Source: Coherent Market Insights, 2018-19
Asia Pacific accounted for the largest revenue share of 32.1% in the global stainless insulated container market in 2018, and is projected to continue its dominance during the forecast period. According to Internet and Mobile Association of India (IAMAI)’s report published in 2017, the number of internet users in India was 481 million in December 2017 and was expected to reach 500 million by June 2018, recording an increase of 11.34% over the period. This, in turn is increasing the preference for online trade channels, which is likely to fuel demand for insulated food containers from online channels over the forecast period.
Furthermore, North America is projected to record substantial growth in the global stainless insulated container market during the forecast period. Factors such as rising working population, increasing shift of consumers towards consumption of healthy food along with increasing need to carry hot meals to workplace is boosting the demand for stainless insulated container. According to the U.S. Department of Labor, Bureau of Labor Statistics, the total number of employed people in the U.S. increased to 1,55,761 thousands in 2018 from 1,53, 337 thousands in 2017.
Figure 2. Global Stainless Insulated Container Market Share (%), By Distribution Channel, 2018
Source: Coherent Market Insights, 2018-19
Based on distribution channel, in 2018, hypermarkets & supermarkets segment accounted for the largest share of 45.4%, in terms of revenue in the global stainless insulated container market. Increasing number of hypermarkets & supermarkets chains, wide range of products offered by various companies, and marketing and promotional activities such as trade discounts and offers are some of the major factors that are expected to drive growth of the market over the forecast period.
Major players operating in the global stainless insulated container market are Thermos L.L.C., Zojirushi Corporation, Tiger Corporation, Can't Live Without It LLC, Stelton A/S, Hewy Wine Chiller, LLC, EMSA GmbH, and Steel Technology, LLC
Stainless insulated containers are container which finds its applications in food and beverage industry. These are utilized for carrying and storing food in residential or personal use, hotels, restaurant, and other commercial applications. These containers are used for keeping food items or beverages at their original temperature for longer time, ensuring the food safety of food & beverage items. Increasing awareness among the populace about food contamination and growing concerns about food quality is driving growth of the global stainless insulated container market.
Among application, beverages segment held largest revenue share of 65.6% in global stainless insulated container market in 2018. Stainless insulated containers are used to store beverage hot/cold for longer duration. Furthermore, these containers prevent foodborne illness, ensuring the safety of beverages. Therefore, these advantages are predicted to increase demand for stainless insulated container in the near future.
Among regions, in 2018, Asia Pacific held dominant position in the global stainless insulated containers market and contributed revenue share of 32.1% in the global market. The regional demand is driven by growth of food & beverage industry along with the increasing number of working population in the region. According to India Brand Equity Foundation (IBEF), Indian food industry was valued at US$ 39.71 billion in 2017 and reached US$ 65.4 billion in 2018, recording a CAGR of 11.0% during the year.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
*Browse 24 market data tables and 12 figures on "Stainless Insulated Container Market - Global forecast to 2027”.
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
The primary research is conducted with the ecosystem players including, but not limited to:
Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.
Talk to our research consultant to design an exclusive report as per your research needs.
We aim to fulfil client's research demands with tailored research solutions.
We aim to provide research studies in quickest turnaround time and in a much cost effective manner.
We cover each industry from supply and demand side with an aim to provide a most holistic research study.
We strive to provide most accurate and reliable research findings in our research reports.