Stainless Insulated Container Market to Reach US$ 6,931.8 Mn by 2027 - Coherent Market Insights

Published On : Aug 07, 2019

The global stainless insulated container market was valued at US$ 4,533.2 Mn in 2018, according to Stainless Insulated Container Market Report, by Application (Food and Beverages), by Distribution Channel (Hypermarkets & Supermarkets, Online Channels, Convenience Stores, and Others) and by Region (North America, South America, Asia Pacific, Europe, and Middle East & Africa) published by Coherent Market Insights.

The global stainless insulated container market is projected to reach US$ 6,931.8 Mn by 2027, exhibiting a CAGR of 5.1% during the forecast period (2019-2027). The market is expected to witness significant growth over the forecast period, attributing to increasing consumer preferences towards sustainable containers.

Most of the food & beverage containers available in the market are made using plastics, which contain bisphenol A (BPA). BPA can get mixed with food or liquid items stored in the containers. BPA exposure can have harmful effects on human health. BPA can imitate structure & function of estrogen hormone and can effect functions such as growth, fetal development, cell repair, and reproduction. Increased exposure of BPA can cause infertility in men and women. In 2012, the U.S. Food & Drug Administration banned use of BPA in manufacturing of baby bottles & children’s drinking cups. Harmful effects of BPA is expected to shift consumer preference towards sustainable containers, which in turn will drive growth of global stainless insulated container market.

High prices of stainless steel containers in comparison with plastic containers is likely to hinder growth global stainless insulated container market over the forecast period. Plastic containers and disposable or reusable plastic bottles can be used as an alternative for stainless insulated container. However, harmful effects of plastic on the environment restricts their usage and thus, likely to increase demand for stainless insulated container market in the near future.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/stainless-insulated-container-market-2969

Browse 24 market data tables* and 12 figures* on "Stainless Insulated Container Market” - Global forecast to 2027.

Key Takeaways of the Market:

  • Among application, beverages segment contributed for 64.2% of the revenue share in the global stainless insulated container market in 2018. Factors such as longer durability, eco-friendly, and safety when compared with plastic bottles is likely to have higher demand for stainless insulated container. This in turn is expected to boost the revenue of global stainless insulated container market in the near future.
  • Asia Pacific accounted for the revenue share of over 48.1% in the global stainless insulated container market in 2018, and is projected to maintain its dominance over the forecast period. Increasing disposable income, rising per capita GDP, growing working population coupled with longer duration of working hours, especially in emerging economies such as China and India, is subsequently boosting demand for fresh food at workplace. These factors are expected to drive growth of stainless insulated container market in Asia Pacific during the forecast period. According to Indian Brand Equity Foundation (IBEF), per capita GDP of India was US$ 1,983 in 2012 and is projected to reach US$ 3,273.8 by the end of 2023.
  • Key companies operating in global stainless insulated container market are focusing on various strategies such as product development, in order to expand the company product portfolio and its global presence. For instance, in July 2017, Hydro Flask launched its large capacity containers ‘Oasis’ with capacity of 64 oz. and 128 oz. These stainless steel insulated bottles were made using TempShield double walled vacuum insulation technology and can keep hot liquids hot for 12 hours & cold liquids cold for 48 hours.
  • 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

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