Thermal Insulation Packaging Market is Anticipated to Cross a Value of US$ 274.8 Billion by 2033 | FMI

The thermal insulation packaging market is anticipated to expand its roots at a steady CAGR of 13.5% between 2023 and 2033. The market is expected to have a market share of US$ 274.8 billion by 2033 while it is likely to be valued at US$ 77.4 billion in 2023

• The higher expansion of food outlet and their chain in emerging economies, higher adoption of comfort food, and online food delivery platforms fuel the market growth. Furthermore, the guaranteed assurance of drug safety through travel and time is transforming the market dynamic.
• Increased travel activities post-pandemic, people taking homemade food outside for picnics and outings are also adopting thermal insulation packaging. The pharmaceutical brand on the other side uses thermal insulation packaging for the drugs that require a certain temperature to be kept in.
• The government programs, enhanced packaging lines, and sustainable materials used for the insulation are adding value to the market’s success. Alongside this, the extended research and development facilities for producing environmentally friendly and affordable packaging solutions are ongoing.
• The expanding pharmaceutical sector is expected to fuel the market growth as it applies insulation to vaccine kits, solutions, chemicals, and even drugs. As temperature control signifies the quality and stability of the drug, the vendors are adopting the best possible thermal insulation solution for their drug.

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Key Points

1. The United States market leads the thermal insulation packaging market in terms of market share in North America. The United States region held a market share of 26.3% in 2022. The growth in this region is attributed to the expanding pharmaceutical giants, enhanced drug packaging, and the restoration of the packaged food market. Though, the North American region also held a significant share of 30.5% in 2022.
2. Germany’s thermal insulation packaging market is another significant market in the European region. The market held a market share of 9.0% in 2022. The growth is attributed to higher drug imports, chemical, and medical research facilities. European region amounted to a total market share of 33.6% in 2022.
3. The Indian thermal insulation packaging market thrives at a CAGR of 14.6% during the forecast period. The growth is attributed to the large facilities for vaccine production and packaging, higher exports, and the blooming FMCG sector.
4. Chinese Thermal insulation packaging market also thrives at a CAGR of 11.9% between 2023 and 2033. The growth is caused by the extension of research facilities.
5. Based on packaging type, the cold storage segment held the leading market share of 60.0% in 2022. The growth is attributed to the increased adoption of it by pharmaceutical and FMCG brands.
6. Based on application type, the food and beverage segment lead the market as it held a leading market share of 54.5% in 2022.

Competitive Landscape

The key vendors focus on applying sustainable materials, custom solutions, and clear-label packaging solutions. Key competitors and also merge, acquire, and partner with other companies to increase their supply chain, and distribution channel.

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Recent Market Developments

• Sonoco ThermoSafe has launched its different temperature control packaging solutions. Such as parcel solutions, pallet solutions, rental solutions, and even insulated shippers. The company caters to regions like North America, Europe, Asia Pacific, and South America.
• Sofrigam SAS has added its track and trace service for the various pallet and parcel shippers. The brand also uses reusable containers for higher sustainability.

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)

About Future Market Insights Inc. (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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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