Insulated container to be used for transporting hot or cold items, the insulated container comprising: an outer box of a paper based box blank (10a; 10b) folded into a box having a bottom panel, side walls extending upwardly from the bottom panel, and an open top, an insulating sleeve or box with an open top, the sleeve or box being positioned inside the outer box, a tray being positioned inside the insulating sleeve or box, the tray being formed of a paper based tray blank (30a; 30b), which is folded into a tray having a bottom panel and side walls extending upwardly from the bottom panel, and which has a moisture barrier on a major surface (30a1; 30b1) forming an inside surface of the insulated container, and a lid having a bottom surface and a top surface, wherein the lid has an outer circumferential extension (C40o) and the outer box has an inner circumferential extension (C10i), wherein shapes and dimensions of the outer circumferential extension (C40o) of the lid and the inner circumferential extension (C10i) of the outer box are chosen such that the lid is at least partly receivable into the outer box with the bottom surface of the lid facing the bottom panel of the tray, wherein the tray has an upwardly facing abutment portion (36a-d) configured to be abutted by the bottom surface of the lid, and wherein the abutment portion (36a-d) of the tray is positioned at a first height, as seen from the bottom panel of the outer box, the first height being below a height of an upper edge of the side walls of the outer box, said insulated container being characterised in that: the insulated sleeve or box is formed of a paper based sleeve blank (20a; 20b) folded into a sleeve or box having side walls, the tray is provided with a plurality of corner panel portions (CPA, CPB, CPC, CPD) each interconnecting two panels forming adjacent side walls, and the lid is formed of a paper based lid blank (40a; 40b) being folded into a box having a bottom panel forming said bottom surface, a top panel forming said top surface, and a plurality of side walls (41 -44), the side walls interconnecting the bottom panel to the top panel with a distance provided between the bottom panel and the top panel. an outer box of a paper based box blank (10a; 10b) folded into a box having a bottom panel, side walls extending upwardly from the bottom panel, and an open top, an insulating sleeve or box with an open top, the sleeve or box being positioned inside the outer box, a tray being positioned inside the insulating sleeve or box, the tray being formed of a paper based tray blank (30a; 30b), which is folded into a tray having a bottom panel and side walls extending upwardly from the bottom panel, and which has a moisture barrier on a major surface (30a1; 30b1) forming an inside surface of the insulated container, and which is folded into a tray having a bottom panel and side walls extending upwardly from the bottom panel, and which has a moisture barrier on a major surface (30a1; 30b1) forming an inside surface of the insulated container, and a lid having a bottom surface and a top surface, wherein the lid has an outer circumferential extension (C40o) and the outer box has an inner circumferential extension (C10i), wherein shapes and dimensions of the outer circumferential extension (C40o) of the lid and the inner circumferential extension (C10i) of the outer box are chosen such that the lid is at least partly receivable into the outer box with the bottom surface of the lid facing the bottom panel of the tray, wherein the tray has an upwardly facing abutment portion (36a-d) configured to be abutted by the bottom surface of the lid, and wherein the abutment portion (36a-d) of the tray is positioned at a first height, as seen from the bottom panel of the outer box, the first height being below a height of an upper edge of the side walls of the outer box, said insulated container being characterised in that: the insulated sleeve or box is formed of a paper based sleeve blank (20a; 20b) folded into a sleeve or box having side walls, the tray is provided with a plurality of corner panel portions (CPA, CPB, CPC, CPD) each interconnecting two panels forming adjacent side walls, and the lid is formed of a paper based lid blank (40a; 40b) being folded into a box having a bottom panel forming said bottom surface, a top panel forming said top surface, and a plurality of side walls (41 -44), the side walls interconnecting the bottom panel to the top panel with a distance provided between the bottom panel and the top panel. the insulated sleeve or box is formed of a paper based sleeve blank (20a; 20b) folded into a sleeve or box having side walls, the tray is provided with a plurality of corner panel portions (CPA, CPB, CPC, CPD) each interconnecting two panels forming adjacent side walls, and the lid is formed of a paper based lid blank (40a; 40b) being folded into a box having a bottom panel forming said bottom surface, a top panel forming said top surface, and a plurality of side walls (41 -44), the side walls interconnecting the bottom panel to the top panel with a distance provided between the bottom panel and the top panel.