The global insulated storage vessel market is expected to post a CAGR of close to 5% during the period 2018-2022, according to the latest market research report by Technavio.
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Technavio forecasts the global insulated storage vessel market to post a CAGR of close to 5% by 2022. (Graphic: Business Wire)
A key factor driving the growth of the market is the growing penetration of organized retail. The emerging retail industry, particularly in developing countries such as Brazil, China, and India, is expected to help the global insulated storage vessel market grow at a significant rate during the forecast period. The growing presence of hypermarkets, supermarkets, and specialty stores provide convenience and comfort to consumers. Large organized stores stock multiple designs and a wide range of insulated storage vessels under one roof, providing consumers with more options. The entry of global players and the availability of wide assortments of products will contribute to sales through the organized retail sector. The penetration of organized retail will enable consumers to compare the price, quality, and design of products, which will aid in their purchase decisions. Moreover, the organized retail sector in urban areas ensures the easy availability of quality products and international brands.
This market research report on the global insulated storage vessel market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increase in the availability of private label brands as one of the key emerging trends in the global insulated storage vessel market:
Global insulated storage vessel market: Increase in availability of private label brands
The number of private label brands in the global insulated storage vessel market is increasing, posing competition to global and regional vendors. Private labels are undercutting the retail prices of branded labels, and over time, the quality of products offered by private labels has also been rising. The popularity of private labels has been growing in developed markets such as the US, Germany, Japan, and the UK, effectively limiting the growth of the major brands. The entry of these private labels into the market, however, enables consumers to purchase insulated storage vessels at relatively lower prices. The growing presence of these brands is expected to positively influence the market, especially in terms of garnering consumer interest, during the forecast period.
“Apart from the increase in availability of private label brands, some other major factors boosting the growth of the global insulated storage vessel market, during the forecast period are the increasing outdoor sporting activities and the increasing M&A activities,” says a senior analyst at Technavio.
Global insulated storage vessel market: Segmentation analysis
This market research report segments the global insulated storage vessel market by geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2017 with a market share of over 37%, followed by EMEA and APAC respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth of close to 1%.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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