Insulated Bags Market
Insulated Bags Market Share & Trends Analysis, By Product Type (PET, Fabric, Others), By End-Use (Food and Beverages, Pharmaceuticals, Others), By Sales Channel (Below US$ 0.05, US$ 0.05 – US$ 0.20, Others), By Price (Hypermarkets/Supermarkets, Others) & By Region Forecast, 2021-2031
Insulated Bags Market Analysis
Global insulated bags market is set to witness steady growth at CAGR of 5.7% to 6.5% during 2021-2031, projects Fact.MR in its latest research analysis.
In addition, 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 outlook in the long-run.
What is Driving Demand for Insulated Bags Market?
The various growth factors related to the product’s 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 which will direct to the increasing demand for the insulated bags throughout the forecast period.
Further, 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.
In addition, these bags are used for the food delivery and preserving the food products. In pharmaceutical sector, it is 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 Insulated Bags market growth.
New Product Development and E-commerce Channel Complementing the Market Sales
The e-commerce industry in many countries has been impacting micro, small, and medium enterprises and has a favorable impact on other industries, especially in the light of the COVID-19 crisis. Amid the lockdowns and temporary closure of malls and other retail stores during the first three quarters of 2020, the demand for FMCG, consumer goods and food & beverages augmented from online stores. The demand for these products has increased the volume of paper bags and sacks used for packing and transit.
In 2020, people were forced to stay at home due to the COVID-19 pandemic. They are ordering more through online channels. This, in turn, is generating the demand for paper pouches, bags, and sacks. This trend is expected to continue and increase in the near future. Multiwall bags or sacks are widely used as flexible packaging products in the e-commerce sector. Apart from consumer goods, sale of industrial goods through online stores is also increasing.
Additionally, the APAC region accounted for the largest market share in 2019. Factors such as improving global economy, expanding working population, rising domestic demand for ready-to-eat & convenience food products are expected to boost the insulated bags market for multiwall bags. The paper pouches market for multiwall bags in APAC is growing in the food, automotive, chemical, pharmaceutical, and construction industries due to the functional properties offered by multiwall bags, such as safety, cost-effectiveness, durability, strength, lightweight, environmental-friendliness, and logistical convenience is expected to drive the insulated bags market.
US and Canada Insulated Bags Market Outlook
In the U.S, the insulated bags market is booming over the past few years and is expected to rise owing to occurrences of smelly food among working professionals and children due to long hours spent outside the house continuously which in turn raise the demand for the insulated bags in the coming forecast period.
Geographically, the global insulated bags packaging market is bifurcated into Europe, North America, the Asia Pacific, and Rest of the World (RoW). Among these, North America will remain the forerunner in the market over the forecast period. Growing need for packaged food, growing preference for hygienic packaging, high growth in the pharmaceutical industry, growing concerns related to environmental damage caused by plastic wastage, and surging sales recorded through retail sectors, super markets, and hypermarkets are adding to the global paper bags packaging market growth in the region. The US holds the utmost market share and is expected to grow at the same pace in the near future.
Europe Demand Outlook for Insulated Bags Market
In Europe, the global paper bags packaging market is predicted to hold the second-largest share over the forecast period. Innovations and developments of the personal care, beauty products, and hygiene, rising focus on sustainability, increased demand for consumer-friendly products that are easily transportable and lightweight, and growing demand from the expanding food and beverage, and retail industries in Spain, Germany, and France are adding to the global Insulated Bags market growth in the region. Germany holds the utmost market share.
In addition, the rapid growth of the e-commerce industry in the region creates lucrative market opportunities for producers to enter the market to gain a competitive market share, thus leading to product demand.
Who are the Key Manufacturers and Suppliers of Insulated Bags Market?
Some of the leading manufacturers and suppliers of insulated bags include
- Hood Packaging Corporation
- Paper Sacks Factory
- United Bags Inc.
- Holmen Group
- Georgia-Pacific LLC.
- OJI Holding Corporation
- WestRock Company
- DS Smith Plc.
- Ronpak, B&H Bag Company
- Smurfit Kappa Group PLC.
- International Paper Company
- Hotpack Packaging Industries LLC
- National Paper Products Company
Insulated Bags Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
By Product Type
- Gel packs
- Food and Beverages
- Below US$ 0.05
- US$ 0.05 – US$ 0.20
- US$ 0.20 – US$ 0.50
- US$ 0.50 – US$ 1
- Above US$ 1
By Sales Channel
- Specialty Stores
- Online Retailers
- Direct Sales
- Other Sales Channel
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
- North America
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
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