Insulation material is defined as a material or combination of different materials having low thermal conductivity to resist the flow of heat. Thermal abuse is the major concern faced during the transportation of temperature sensible products; hence, most of the major industries such as food and beverages, pharmaceutical, healthcare, chemicals, cosmetics, etc., depend heavily on insulated materials for packaging. 

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Products from these industries may be subjected to extreme conditions (hot or cold), vibration, and pressure during transportation. Hence, proper packaging solutions are required in such cases to prevent spoilage and maintain product specifications. Insulated packaging is regarded as the optimum solution for keeping products refrigerated, frozen, and warm, and for reducing the effects of variable temperature.   

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The combined form of packaging and type of insulation material determine its installation method. Thermal conductivity (K) plays an important role while selecting the insulation material. The lower the thermal conductivity, the better the heat resistance (R), thereby resulting in better insulation. Depending on the thermal conductivity, variety of insulating materials are available for different temperature ranges. 

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High disposable income and increasing healthcare awareness among consumers has led to the rise in global demand for Fast Moving Consumer Goods (FMCG) and product safety, thereby driving the market growth further. Owing to its value added applications in industries such as healthcare and food & beverages, the market for fresh food packaging is expected to create significant growth and investment opportunities for players operating in the market, especially in the developing countries.