The global insulated shipping boxes market is anticipated to reach a valuation of US$ 3.2 billion in 2023, driven by pharmaceutical cold chain management. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 8.5% between 2023 and 2033, and reaching a total valuation of approximately US$ 7.3 billion by 2033.
One of the major factors contributing to the growth of the insulated shipping boxes market is the increasing emphasis on biologics and vaccines, particularly in the context of public health emergencies, which underscores the need for reliable temperature-controlled packaging. Insulated shipping boxes ensure that these temperature-sensitive medical products retain their potency and efficacy, thus contributing to effective healthcare delivery.
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The growing consciousness surrounding environmental sustainability has prompted a shift towards eco-friendly packaging solutions. Insulated shipping boxes made from recyclable and biodegradable materials align with these sustainability goals, appealing to environmentally conscious consumers and businesses.
Innovations in insulating materials and manufacturing technologies have led to the development of highly efficient insulated shipping solutions. Advanced materials offer enhanced thermal performance, while innovative designs and features provide better insulation and product protection.
Stringent regulations governing the transportation of temperature-sensitive products, particularly in the pharmaceutical and food industries, necessitate reliable packaging solutions. Insulated shipping boxes offer compliance with regulatory standards, ensuring that products meet quality and safety requirements.
Key Takeaways from the Market Study
- Global insulated shipping boxes market was valued at US$ 3.0 billion by 2022-end.
- From 2018 to 2022, the market demand expanded at a CAGR of 4.1%.
- Asia Pacific excluding Japan is expected to expand at a dominant CAGR of 8.4 during the forecast period.
- By material, polyurethane segment is expected to constitute a CAGR of 8.4% in 2033.
- On the basis of end use, pharmaceuticals segment is expected to dominate the market with a CAGR of 8.4% in 2033.
- From 2023 to 2033, insulated shipping boxes market is expected to flourish at a CAGR of 8.5%.
- By 2033, the market value of insulated shipping boxes is expected to reach US$ 7.3 billion.
Changing consumer lifestyles, across the globe, is a major factor that is expected to propel the growth of the insulated shipping boxes market in the near future, remarks an FMI analyst.
Competitive Landscape
Prominent players in the insulated shipping boxes market are Drew Foam Companies Inc., Harwal Group, Marko Foam Products, Cryopak, Radwa Corporation, Sofrigam SA, Sonoco Products Company, COOL Sarl, Topa Thermal, and Creopack Packaging Intelligence, among others.
Recent Developments:
- In 2023, UPS launched its new program for insulated shipping boxes that are designed to keep products cold or hot during transit.
- In 2022, GenPack International launched its new line of insulated shipping boxes for the pharmaceutical industry.
- In 2022, Thermapak Corporation acquired Cold Chain Technologies, a leading manufacturer of insulated shipping boxes.
- In 2021, ISTA announced the development of new standards for insulated shipping boxes.
- In 2021, UPS launched its new program for insulated shipping boxes that are designed to keep products fresh during transit.
Regional Outlook
The demand for insulated shipping boxes is expected to be high in regions with emerging economies such as Asia Pacific with countries such as China and India. It is attributed to the growing industrialization and high growth in pharmaceuticals market. The U.S. is home to some of the global players of pharmaceutical, food and chemical sectors.
Also, rising export of pharmaceutical products from the U.S. to other countries is expected to drive the growth of the insulated shipping boxes market during the forecast period. Similar trends are followed by European countries including Germany, France, the U.K. and others for transportation of products and goods. MEA region is expected to witness average growth in the insulated shipping boxes market.
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Regions Included:
- North America
- Latin America
- Europe
- Middle East and Africa (MEA)
- East Asia
- South Asia
- Oceania
Insulated Shipping Boxes Market: Segmentation
On the basis of material type:
- Polyurethane
- Polypropylene
- Polystyrene
- Extended Polystyrene (EPS)
- Extruded Polystyrene (XPS)
- Others
On the basis of capacity:
- Up to 5 ltr
- 5 ltr – 10 ltr
- 10 ltr – 15 ltr
- Above 15 ltr
On the basis of sales channel:
- Specialty/Departmental Stores
- Online
- Distributors
On the basis of end use:
- Food & Beverages
- Pharmaceuticals
- Chemicals
- Others
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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