The global insulated food containers market size is expected to reach USD 2.1 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.5% over the forecast period. Rising consumer awareness regarding home cooked fresh food at workplace is expected to expand the industry size. In 2018, around 60% of population are employed which is significantly contributing to the demand for home cooked food at workplace. The product has the ability to maintain freshness as well as temperature of food to around 6 hours.
Stainless steel products generated a revenue of USD 861.7 million in 2018. The majority of consumers prefer to purchase this product due to its non-reactive and non-toxic property. This product also limits the scope of bacteria to leave inside, which keep, food healthy and fresh. Plastic products are expected to witness the fastest growth as a result of their growing popularity as lightweight materials.
Hypermarkets and supermarkets held a revenue share of more than 45.0% in 2018. Availability of a wide range of product varieties, along with consumer preference for physical verification before any purchase, is expected to remain the favorable factors. The online distribution channel is expected to witness significant growth in the near future on account of increasing number of smartphone users at a global level.
Asia Pacific is expected to witness the fastest growth over the next few years. Expansion of middle class income groups in developing countries including China and India is expected to expand the industry size. In 2018, around 68% of the population in this region were the working class population, who require home cooked food at their workplace.
Companies are focusing on new designed product launches to increase their market share. For instance, in 2017, Avon Appliances launched stainless steel insulated food containers from 14 to 40 liters capacity. Key companies operating in this market include American Aerogel, Huhtamaki, Zojirushi America Corporation, Cambro, Carlisle, Thermos LLC, Stanley, Hamilton Housewares Pvt Ltd., Valor Industries, and TokyoPlast.
Further key findings from the report suggest:
- Plastic products are expected to account for 30.8% share of the global revenue by the end of 2025
- Online distribution channel is expected to expand at the fastest CAGR of 6.8% from 2019 to 2025
- Asia Pacific generated a revenue of more than USD 520 million in 2018
Grand View Research has segmented the global insulated food containers market on the basis of product, distribution channel, and region:
Insulated Food Containers Product Outlook (Revenue, USD Million, 2015 - 2025)
- Stainless Steel
- Plastics
- Others
Insulated Food Containers Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
- Hypermarkets & Supermarkets
- Convenience Store
- Online
Insulated Food Containers Regional Outlook (Revenue, USD Million, 2015 - 2025)
- North America
- US.
- Europe
- Germany
- UK.
- Asia Pacific
- China
- India
- Central & South America
- Brazil
- Middle East & Africa
- South Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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