The global thermal insulation packaging market is expected to grow at a substantial rate with a robust CAGR of around 17.2% between 2022 and 2030. The global market is expected to reach US$ 247.1 Billion by the year 2030.
What is Thermal Insulation Packaging?
Thermal insulation packaging is a type of packaging that helps maintain the temperature of the contents inside the package. This packaging technology is essential for temperature-sensitive products such as food, pharmaceuticals, and chemicals. The packaging is designed to keep the temperature stable, even in extreme conditions, by providing a barrier that prevents heat transfer.
Surging focus on the safety of food and pharmaceuticals is gaining traction over recent years, along with favorable government regulations combined with recent changes in trends have resulted in higher demand for safe packaging to assure the quality of products. With regulatory changes, businesses have prepared themselves for regulatory expansion. Technological advancements in thermal insulation packaging solutions are expected to enable accurate tracking of logistics and improve data management. These aforementioned factors are expected to bolster growth in the global thermal insulation packaging market.
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Competitive Landscape
Prominent companies operating in the thermal insulation packaging market are focusing on strategic collaborations with technology partners. Surging investments in technology including cloud computing and IoT solutions are expected to aid the thermal insulation packaging market in multiple ways. Such technological improvements in the market promise better control, visibility, and accountability for thermal insulation packaging solutions.
The key players Are:
Emball’ISO, Sonoco ThermoSafe, Pelican Products, Inc., Cold Chain Technologies, Inc., Sofrigam SAS, CSafe Global, LLC, Insulated Products Corporation, Cryopak Industries Inc., Snyder Industries, Inc., va-Q-tec AG, Inmark LLC, DGP Intelsius Ltd., Softbox Systems Ltd., Envirotainer Ab, Aeris Dynamics Pte Ltd., Global Cold Chain Solutions, Thermo Fisher Scientific, Inc, Helmer Scientific Inc., Global Cooling, Inc., PHC Holdings Corporation, BINDER GmbH, Esco Micro Pte Ltd., Labcold Ltd., ARCTIKO A/
Key Takeaways
- Data loggers combined with temperature sensors and USB connection points are gaining massive popularity and are becoming very common and cheap to include. These label-like loggers easily get fixed to the packaging, continuously track temperature conditions, and provide a full summary of time and temperature data. In addition to that, battery-powered data loggers can include the latest technologies such as RFID, Wi-Fi, and GPS, and can provide real-time information regarding temperature fluctuations.
- Due to a surging increase in the demand for temperature-sensitive products, it has drawn regulatory attention. Now regulatory bodies are emphasizing ensuring that the food and pharmaceutical products are complying with the norms and have been kept within approved temperature ranges during transit. Strict regulations and high visibility across the supply chain have grown temperature-sensitive products which make temperature monitoring a must for pharmaceutical and food manufacturers.
- Several manufacturers are leveraging this opportunity to build efficient proactive strategies which assist them to identify excursions and send replacements to minimize delays. Moreover, serialization requirements for biopharma products have intensified the demand for in-depth know-how of the temperature of products in transit.
- As per the recent market trends, thermal insulation packaging solutions offer a rapid expansion of their rental businesses and are comparatively less focused on fresh sales of their products. Attributed to the higher costs of shippers and insulated containers coupled with environmental concerns associated with their disposal, buying these still remains an uneconomical and non-ecological solution for most end users.
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According to FMI estimations, the global thermal insulation packaging market is projected to see a significant hike post-pandemic owing to the increased demand for thermal insulation packaging solutions in the pharmaceutical industry, predominantly for medical products including testing kits, vaccine distribution, and the development of drugs to treat infections. The development of drugs in order to treat patients increases the urgency for more reliable thermal insulation packaging systems as temperature control determines the stability and quality of the drugs.
Factors Driving the Thermal Insulation Packaging Market
Several factors are driving the growth of the thermal insulation packaging market, including:
- Increased Demand for Packaged Food and Beverages- The increasing demand for packaged food and beverages is driving the growth of the thermal insulation packaging market. With the changing lifestyle and eating habits, people are increasingly opting for ready-to-eat and packaged food products. Thermal insulation packaging helps to maintain the freshness and quality of these products, making them more appealing to consumers.
- Growing Pharmaceutical Industry- The pharmaceutical industry is another key driver of the thermal insulation packaging market. With the increasing demand for temperature-sensitive drugs and vaccines, the need for effective thermal insulation packaging solutions has become essential. Thermal insulation packaging helps to maintain the efficacy of these drugs, ensuring their safe and effective delivery to patients.
- Eco-Friendly and Sustainable Packaging Solutions- The increasing focus on environmental sustainability is driving the demand for eco-friendly and sustainable packaging solutions. Thermal insulation packaging made from recyclable materials and designed for reuse is gaining popularity among consumers and businesses alike.
Key Segments Covered in Thermal Insulation Packaging Industry Research
Packaging Type
- Passive Packaging
- Single Use or One Way use Packaging
- Multiple Use or re-usable Packaging
- Active Packaging
- Reefer trucks and Containers
- Active Pallet Containers
- Cold Storage
- Refrigerators
- Freezers
Insulation Material
- EPS
- PUR
- VIP
- PCM
- Others
Temperature Range
- Less than -40°C
- -20 to -40°C
- -1 to -20°C
- 0 to 10°C
- 10 to 25 °C
Application
- Food and Beverage
- Pharmaceuticals
- Vaccines
- Blood Banking
- Others
- Others
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