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.
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https://www.grandviewresearch.com/industry-analysis/insulated-food-containers-market
https://www.grandviewresearch.com/industry-analysis/insulated-food-containers-market
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
o
U.S.
·
Europe
o
Germany
o
U.K.
·
Asia Pacific
o
China
o
India
·
Central & South America
o
Brazil
·
Middle East & Africa
o
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.
