Global Insulated Bags Market Overview
Insulated bags are temperature resistant bags which protect the items inside it from the external temperature conditions. The insulated bags are thermally insulated to preserve the internal product. The thermal conductivity materials are used for the manufacturing of insulated bags. It protects the product from external heat, moisture and light.
The insulated bags are used for the food delivery and preserving the food products. In pharmaceutical sectors, insulated bags are used for transporting temperature sensitive medications. These insulated bags are spill proof and retains the product integrity. The insulated bags prevent the internal material from external temperature, light and shock. This is expected to facilitate the market growth during the forecast period.
The insulated bags market is growing on the account of wide range of applications in food delivery, food preservation, medicated products, and biomedical materials such as cells, blood, organs in order to protect from heat, light, moisture, shock, and bacterial growth.
Market Size & Forecast
Insulated bags market is significantly growing and is expected to record a CAGR of 5.8% over the forecast period. The Insulated bags market is expected to reach a value of USD 17.35 billion at the end of the forecast period. The various growth factors related to insulated bags market includes the change in living standards and urbanization. This increases the demand for ready to eat food products, preserved food items such as fish and meat, fast food deliveries and others. This leads to increasing demand for the insulated bags throughout the forecast period.
As per FICCI data, current per capita consumption of plastics in the U.S. is 109 kg, China is 38 kg and India is 11 kg. This is in cooperation with rising plastic demand globally driving the insulated bag market which consumes plastic as one of the easily available insulating material. This insulated bags with high application of plastic is thriving the global insulated bags market during the forecast period.
Various insulated bag manufacturing companies are focused towards developing new products. The numerous properties of insulated bags includes strength, durability, heat resistant, moisture and light. The increasing application in food and beverage sector is also driving the market growth of the insulated bags market. The rising use of insulated bags for food delivery, packaged food items, preserving food items coupled with high disposable income of the population is increasing the market growth of the insulated bags worldwide.
On the basis of regional platform, global Insulated Bags market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
North America is expected to lead the insulated bags market during the forecast period on the account of rise in food delivering and packaging services. Asia Pacific is observing the highest growth rate of the overall insulated Bags market .In Asia Pacific region, India and China are contributing maximum market share for insulating bags in food and pharmaceutical sectors. China is expected to witness highest growth in Asia Pacific region followed by India. This is attributed to the burgeoning population and increasing demand for food and pharmaceutical products.
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Market Segmentation
Our-in depth analysis of the global insulated bags market includes the following segments:
By Material Type:
- PET
- Fabric
- Nonwovens
- Polyethylene
- Polyurethane
- Gel packs
By End User Industries:
- Food and Beverages
- Pharmaceuticals
- Industrials
- Others
By Region
Global insulated bags market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Benelux, Nordic, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Growth Drivers
Widespread Application
The insulated bags have wide range of applications in food, pharmaceuticals, medical and other industries. Preservation of the food products from heat, light and moisture is expected to increase the demand for the insulated bags. Additionally, pharmaceutical and biotechnological industries requires insulated bags to preserve the biomedical materials, organs and tissues.
Food Preservation
These insulated bags help in long term preservation and transportation. Insulated bags are used for preserving the food products by maintaining the temperature of the food products.
Restraints
High Cost
However, the high cost of insulating bags is anticipated to hinder the market growth over the forecast period.
Top Featured Companies Dominating The Market
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