The comprehensive detailing of the market trends, historical figures, and latest developments all cover the breakdown data of the Bulk Insulated Containers Market, also provides a complete analysis of top market participants based on many areas of the businesses.
Newark, NJ, May 24, 2022 (GLOBE NEWSWIRE) -- As per the report published by MarketQuest.biz, the global bulk insulated containers market is expected to grow from USD 856 million in 2021 to USD 1573.72 million by 2030, at a CAGR of 7% during the forecast period 2022-2030.
Rapid urbanization and increasing disposable income of the population have led to the rising demand for consumer goods. The increased internet penetration and the e-commerce boom have further fueled this demand. This demand has created an urgency to have safe and secure packaging systems installed to handle the rising demand surge and ensure efficient product delivery. The increasing health concerns due to the pandemic have reinforced the focus on the hygiene and sanitation of products. The bulk insulated containers are ideal for transporting temperature-sensitive products without any spillage while maintaining their integrity, safety, and hygiene. The enclosed nature of transportation and ease of handling will significantly contribute to the market's growth. The growing applications of bulk insulated containers in consumer goods, pharmaceuticals, chemicals, food & beverages, and automotive, combined with new product innovations, will provide lucrative opportunities for the market. However, stringent regulatory guidelines about environmental sustainability governing the manufacture of bulk insulated containers could hamper the market's growth. The use of bio-plastic to produce bulk insulated containers can aid the market players in overcoming the regulatory challenge of environmental compliance.
Competitive Strategy
To enhance their market position in the global bulk insulated containers market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
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Frosty Binz, LLC recently (2022) announced the release of its Insulated Reflective Cover for Bulk Containers and Harvest Bins. The reusable lightweight cover reflects the sun's solar radiation, keeping the produce cool and reducing moisture loss.
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Market Growth & Trends
The massive population of China and India is driving the consumer demand in the market for various goods ranging from automotive, consumer goods, and pharmaceuticals. The upsurge in demand is significantly witnessed in the food and beverage industry, packaged goods, and chemicals. These industries transport temperature-sensitive goods which require air-tight shipment material. Adopting bulk insulated containers to transport such products is ideal as it ensures the safe and secure transfer of these products. Bulk insulated containers are also compatible with large shipment orders. They are easy to handle, and the recyclable nature of bulk insulated containers makes them an environmentally sustainable and cost-effective packaging solution. Government regulations mandating sustainable bio-plastics combined with the development of ecologically sustainable bulk insulated containers by market players will significantly drive the global bulk insulated market during the forecast period.