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.
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