The global Stainless Insulated Container Market was valued at US$ 5,055.4 Million in 2022, according to Stainless Insulated Container Market Report, by Application (Food and Beverages), by Distribution Channel (Hypermarkets & Supermarkets, Online Channels, Convenience Stores, and Others) and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa) published by Coherent Market Insights. The global stainless insulated container market is projected to reach US$ 9,027.9 Million by 2030, exhibiting a CAGR of 7.52% during the forecast period (2023-2030).
The market is expected to witness significant growth over the forecast period, attributing to increasing consumer preferences towards sustainable containers. Most of the food & beverage containers available in the market are made using plastics, which contain bisphenol A (BPA). BPA can get mixed with food or liquid items stored in the containers. BPA exposure can have harmful effects on human health. BPA can imitate structure & function of estrogen hormone and can effect functions such as growth, fetal development, cell repair, and reproduction. Increased exposure of BPA can cause infertility in men and women.
The U.S. Food & Drug Administration banned use of BPA in manufacturing of baby bottles & children’s drinking cups. Harmful effects of BPA is expected to shift consumer preference towards sustainable containers, which in turn will drive growth of global stainless insulated container market. High prices of stainless steel containers in comparison with plastic containers is likely to hinder growth global stainless insulated container market over the forecast period. Plastic containers and disposable or reusable plastic bottles can be used as an alternative for stainless insulated container. However, harmful effects of plastic on the environment restrict their usage and thus, is likely to increase demand for stainless insulated container market in the near future.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/stainless-insulated-container-market-2969
Browse 24 market data tables* and 12 figures* on "Stainless Insulated Container Market” - Global forecast to 2030.
Key Takeaways of the Market:
- Among application, beverages segment contributed for 64.2% of the revenue share in the stainless insulated container market in 2022 Factors such as longer durability, eco-friendly, and safety when compared with plastic bottles is likely to have higher demand for stainless insulated container. This in turn is expected to boost the revenue of global stainless insulated container market in the near future.
- Asia Pacific accounted for the revenue share of over 35% in the global stainless insulated container market in 2022, and is projected to maintain its dominance over the forecast period. Increasing disposable income, rising per capita GDP, growing working population coupled with longer duration of working hours, especially in emerging economies such as China and India, is subsequently boosting demand for fresh food at workplace. These factors are expected to drive growth of stainless insulated container market in Asia Pacific during the forecast period. According to the Indian Brand Equity Foundation (IBEF), per capita GDP of India was US$ 1,983 in 2012 and is projected to reach US$ 3,273.8 by the end of 2023.
- Key companies operating in global stainless insulated container market are focusing on various strategies such as product development, in order to expand the company product portfolio and its global presence.
- According to Press Information Bureau, Government of India, on February 6 2023, Ministry of Steel is committed to Net-Zero target by 2070. Towards this, in short term (FY 2030), reduction of carbon emissions in steel industry through promotion of energy and resource efficiency, use of renewable energy and so on is the focus. For the medium term (2030-2047), Green Hydrogen and Carbon Capture, Utilization and Storage (CCUS) technologies are the focus areas to reduce carbon emission. For long term (2047-2070), disruptive alternative technological innovations can help achieve the transition to net-zero. For this purpose, Ministry of Steel is continuously engaging with various stakeholders and members of steel industry for deliberations to assess technology adoption, usage of efficient raw material such as scrap, carbon capture technologies and green hydrogen.
Major players operating in the global stainless insulated container market are Thermos L.L.C., Zojirushi Corporation, Tiger Corporation, Can't Live Without It LLC, Stelton A/S, Hewy Wine Chiller, LLC, EMSA GmbH, and Steel Technology, LLC
