Insulated Shippers Market Technological Advancements, Product Benchmarking and Regional Outlook

Posted on 2022-09-22 by researchinsights in Industrial // 0 Comments

San Francisco, Calif., USA, Sep 22, 2022 — /EPR Network/ —

Insulated Shippers Industry Overview

The global insulated shippers market size was valued at USD 6.5 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 10.0% from 2021 to 2028. Rising demand for organic fruits and vegetables across the globe is among the key driving factors for the industry. A large variety of foods and vegetables is being cultivated by employing organic methods across the world. Thus, these packaging products are widely incorporated to maintain the freshness of the produce during transportation.

Rising global demand for pharmaceutical products is another prominent factor fueling the demand for insulated shippers. The global pharmaceutical market is on the growth path owing to the rising prevalence of chronic diseases and the increasing aging population in countries such as China and Japan. Pharmaceutical products, such as blood, vaccines, and temperature-sensitive drugs, are usually transported in insulated shippers.

Gather more insights about the market drivers, restraints, and growth of the Global Insulated Shippers market

As far as sourcing of raw materials is concerned, large-sized organizations such as Sonoco Products Company and Sealed Air directly procure materials from manufacturers. These companies purchase raw materials in large quantities regularly and establish annual contracts with suppliers. On the other hand, small-scale companies in the market procure raw materials from either manufacturers or distributors as their requirement is not uniform. Therefore, long-term agreements usually do not exist in the market.

Manufacturers of insulated shippers use various types of liner material including paper, EPS, and metalized bubble wrap, among other materials. The application area of such materials is taken into consideration while they are manufactured. ABBE CORRUGATED PTY. LTD.; Sonoco Products Company; ICEE insulated folding boxes; and CP Cases Ltd. are among the key manufacturers of insulated shippers. Manufacturers in the market for insulated shippers also majorly offer the products to the food and pharmaceutical industries.

The global population is anticipated to increase by 1.24% per year until 2030. Furthermore, the proportion of people aged between 65 and 80 years is projected to rise to 28% by 2030 as compared to 22% in 2000. The aging population requires more medical assistance, thereby generating higher demand for pharmaceuticals. The aging population is predominantly rising in countries including Japan, China, Italy, and Germany. These factors are expected to favor market growth with increasing demand for insulated shippers over the forecast period.

The development of modified atmosphere packaging (MAP) is generating significant traction in the packaging industry and is anticipated to limit the employment of insulated shippers around the world. MAP helps lockin the freshness and extend the shelf life of food products inside the packaging. In addition, it controls the blend of gases such as oxygen, carbon dioxide, and nitrogen inside the thermoform packaging. However, the high cost associated with the technology is discouraging clients from opting for MAP solutions.

The outbreak of COVID 19 from the beginning of 2020 severely disrupted the supply chain, retail distribution, and consumer behavior for numerous products and services across the world. However, the demand for insulated shippers remained unaffected in 2020 as the product is primarily utilized for packaging or transporting essential products including fresh produce, groceries, meals, meat and seafood, pharmaceuticals, biologicals, and others.

In addition, the COVID 19 outbreak subsequently led to the development of several vaccines throughout 2020. Most of these vaccines are temperature sensitive and thus insulated vaccines shippers are anticipated to be employed for their safe and secure distribution. Several companies including Insulated Products Corporation, Path-Tec, Cold Chain Technologies, among others introduced product lines for COVID 19 vaccine shipping. Therefore, the possible rollout of vaccines across the world is expected to augment market growth over the short term.

Browse through Grand View Research’s Plastics, Polymers & Resins Industry Research Reports.

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