Global Insulated Bags Market was valued at US$ 11.1 Bn in 2017 and is expected to reach US$ 18.7 Bn by 2026, at a CAGR of 6.74% during a forecast period.
Insulated bags are temperature resistant bags which protect the items inside it from the external temperature conditions is expected to surge the market growth in a positive way. The insulated bags are thermally insulated to preserve the internal item.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Insulated Bags Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in Insulated Bags Market.
Based on the end use industry, food & beverages is expected to hold the largest share in the global insulated bags market during the forecast period. Growing applications of insulated bags in food industry such as food delivery, packaged food items, and preserving food items, which is driving the global insulated bags market growth in a positive way. Rising demand for food is also estimated to boost the global insulated bags market growth in the future. Pharmaceutical segment is expected to generate the highest CAGR in the global insulated bags market during the forecast period due to rising demand for pharmaceutical products in developing countries.
The insulated bags have a wide range of applications in various end-use industries such as food & beverages, pharmaceuticals, medical and other industries, which is fuelling the global insulated bags market growth around globally. Rising demand for insulated bags to preserve the food products from light, heat, and moisture is anticipated to surge the global insulated bags market across the globe. Rising usage of insulated bags for the food delivery and preserving the food items is leading the global insulated bags market growth. These insulated bags have benefits such as spill-proof and retain product integrity. This is anticipated to facilitate market growth during the forecast period. In addition, biotechnological and pharmaceutical industries require insulated bags to preserve the biomedical organs, materials, and tissues is also projected to boost the global insulated bags market growth in the forecast period in a positive way. Moreover, rising need for insulated bags in the pharmaceutical sectors for storing and transporting temperature-sensitive medications, which is propelling the global insulated bags market growth.
The rising popularity of insulated bags among consumers is driving the market growth in the forecast period. Insulated bags can maintain the temperature of the food items is boosting the global insulated bags market growth. Increasing need of ready to eat food products, preserved food products such as meat and fish, and fast food deliveries are projected to surge the global insulated bags market growth in the forecast period. In addition, growing urbanization, changing living standards, and increasing disposable incomes in developing countries are expected to boost the global insulated bags market growth in a positive way. However, the high cost of the product is estimated to hamper the global insulated bags market growth over the forecast period.
In terms of region, North America is estimated to hold the largest share in the global insulated bags market during the forecast period. Increasing food delivering and packaging services in this region is driving the global insulated bags market growth in a positive way. Growing innovations are also expected to surge the global insulated bags market growth in this region. The Asia Pacific is expected to generate the highest CAGR in the global insulated bags market during the forecast period. India and China are projected to lead the market growth in this region owing to rising population growth and increasing demand for pharmaceutical and food products. Growing urbanization and industrialization in these countries is also estimated to boost the market.
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Insulated Bags Market: Global Industry Analysis and Forecast (2022-2029)
Scope of the Report Insulated Bags Market
By Material Type
- PET
- Fabric
- Nonwovens
- Polyethylene
- Polyurethane
- Gel packs
By End Use Industry
- Industrial
- Pharmaceutical
- Food & Beverages
- Others
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Key Players Operating in Market
- Coleman
- Wildkin
- Everest
- Arctic Ice
- Engel
- Arctic Zone
- Mammoth
- Green Bag America
- Dometic
- Xiamen Ason Products Co. Ltd
- Carrycool Enterprise
- American Bag Company
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