The Thermal Insulation Packaging Market is poised for consistent growth, with a projected steady CAGR of 13.5% throughout the forecast period. In 2023, the market is forecasted to generate revenue of US$ 77.4 billion, and it is expected to surpass a value of US$ 274.8 billion by the year 2033.
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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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.
Key Segments Covered:
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
Key Regions Covered:
- North America
- United States
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- United Kingdom
- France
- Spain
- Russia
- Rest of Europe
- Japan
- Asia Pacific Excluding Japan
- China
- India
- Malaysia
- Singapore
- Australia
- Rest of Asia Pacific Excluding Japan (APEJ)
- The Middle East and Africa
- GCC Countries
- Israel
- South Africa
- The Middle East and Africa (MEA)
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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.
Key Players:
- 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/S
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.
More Insights into the Thermal Insulation Packaging Market:
The U.S. is expected to dominate the global thermal insulation packaging market as it holds the largest chunk of the market globally. Being the largest manufacturing sector in the North American region, the U.S. comprises a maximum portion of frozen foods. Thermal insulation packaging is expected to grow owing to the need for packaging for frozen food distribution across the region.
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About Future Market Insights (FMI):
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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