Insulated Shippers Market
Insulated Shippers Market (Product Type - Envelops & Panels, Expanded Polystyrene (EPS), Polyurethane (PUR), Vacuum Insulated Panel (VIP), Other Products; Application - Frozen Applications, Chilled Applications, Ambient Applications, Pharmaceutical; End Use - Pharmaceutical, Food and Beverages, Others) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2026
Shipping various temperature-sensitive products could lead to deterioration and spoilage of the products during transportation. As the products are increasingly subject to different temperature and weather conditions during shipping, manufacturers are focusing on offering protective packaging solutions for range of pharmaceutical and medical products. In order to offer protective packaging solutions for temperature sensitive products, companies are increasingly investing in insulated packaging solutions globally.
According to Transparency Market Research, the global insulated shippers market is expected to represent a value of over US$ 5,000 Mn by the end of 2026.
Pharmaceutical Packaging to Create Significant Growth Opportunities
Transporting the pharmaceutical products has continued to remain a challenging task for leading pharmaceutical companies. During transportation, the pharmaceutical products can be subject to extreme weather variations. As range of these products are temperature sensitive, exposure to extreme heat, cold and humid weather conditions can lead to degrade the quality and its effectiveness. To ensure safe delivery of the pharmaceutical products, manufacturers are concentrating on offering technically enhanced protective packaging solutions.
As the need for packaging pharmaceutical products arise, manufacturers are increasingly look to opt for cold chains and controlled distribution systems. Implementation of cold chain and controlled distribution system enables the manufacturers to monitor and track the distribution system and storage of the pharmaceutical products within the protective confine. Growing need for protective shipping has led manufacturers to interpose materials in the pharmaceutical product packages before forwarding them to be shipped.
Food Products to Boost Demand for Isothermal Packaging Solutions
Demand for the isothermal packaging in the food and beverage industry will continue to remain high in the global market. As preference for hot food products increase, manufacturers are focusing on implementing enhanced packaging solutions to maintain the freshness of the food products. Food and beverage products can be subject to extreme temperature variations during the transportation process. Milk products, fried food products, confectionery, pulses and mushroom are a few products that are expected to rev up demand for the insulated shipping products and solutions globally. In addition, pervasive demand for traditional food products in various hotels, shops, restaurants and franchise will further continue to impact growth of the global insulated shippers market during the forecast period.
To ensure protective shipping of food products, manufacturers are equipping the packaging products with tamper-proof, non-porous core and heat damage proof features. As quality of various food products could degrade due to humid, cold and wet weather, manufacturers are focusing on accommodating technologically enhanced packages solutions that will seal the products in the required temperature bounds to ensure freshness of the product during consumption. Growing need for packaging refrigerants is further expected to contribute towards growth of the global insulated shippers market during the forecast period.
Expanded Polystyrene to Represent a Leading Segment
Growing need for robust and light-weight packaging solutions with effective thermal insulation is expected to boost demand for expanded polystyrene globally. On the basis of product type, the expanded polystyrene segment is expected to represent the highest revenue growth, accounting for a value of over US$ 700 Mn by the end of 2026. In contrary, the other product type segment is expected to register a robust CAGR throughout the forecast period.
Based on application, the pharmaceutical segment is expected to generate significant revenues, recording a value of over US$ 500 Mn by the end of 2017. However, the ambient application type segment is expected to register a healthy CAGR through 2026.
By end use, the pharmaceutical segment is expected to witness significant revenue growth, accounting for a value of over US$ 1,100 Mn by the end of 2026. On the other hand, the others end use segment is expected to register the highest CAGR during the forecast period.
Leading market players operating in the global insulated shippers market include Sonoco Products Company, Cold Chain Technologies Inc., Pelican Biothermal LLC, Snyder Industries, Inc., Saeplast Americas Inc, Cryopak Industries Inc., TKT GmbH, Tempack Packaging Solutions S.L., EcoCool GmbH and American Aerogel Corporation.
Rising Need for Maintaining Quality of Perishable Products Drivers Sales Opportunities in Insulated Shippers Market
Several products manufactured in the pharmaceutical and chemical industries are considered temperature sensitive. Thus, improper transportation of these products may lead to their spoilage as well as deterioration. Owing to growing awareness regarding the importance of maintaining proper temperature during transportation of these products, the companies engaged in the manufacturing of pharmaceuticals and chemicals are growing focus toward using advanced transportation techniques such as insulated shippers. This scenario is creating promising growth opportunities for vendors working in the global insulated shippers market.
In the worldwide healthcare sector, insulated shippers techniques are increasingly adopted for the transportation of various products including blood, vaccines, biologic materials, and even organs. Keeping these products at inappropriate temperatures can lead to compromising their quality. Thus, numerous organizations working in the healthcare sector are increasing inclination toward the use of insulated shippers. This factor is generating promising sales avenues in the global insulated shippers market.
In food industry, there are a wide range of perishable food products. Thus, these products require precise temperature in order to maintain their shelf life and freshness. Thus, the food manufacturers are growing use of advanced solutions including insulated shippers. This scenario is expected to help in fueling the demand avenues in the insulated shippers market in the years to come.
The recent COVID-19 pandemic has resulted into slowing down the worldwide economy. Major companies in food, pharmaceutical, and chemical industries are experiencing noteworthy drop in their sales. This scenario has impacted adversely on the growth of global insulated shippers market. Apart from this, many players in the market for insulated shippers are experiencing disruption in production and trading activities. Thus, key players in the insulated shippers market are increasing concentration toward strategizing their business moves in order to regain their regular activities.
Global Insulated Shippers Market: Overview
The global insulated shipping market is expected to witness a robust growth attributed to growing need for protective packaging solutions for various products. Growing need for shipping the pharmaceutical, chemical, biomedical, and food and beverage products globally has led to surge in adoption of the insulated shipping solutions. As the shipped products are subject to extreme weather conditions, demand for insulated containers and temperature-sensitive solutions will continue to increase. Extreme weather conditions such as excessive heat, cold, humidity and rain can degrade the quality of products packaged for shipping. Surge in various technological developments is further expected to impact growth of the global insulated shippers market positively.
The report reveals in-depth insights on the important aspects of the global insulated shipping market and provides information on the growth patterns, competitive landscape, important segments and factors fuelling growth of the global market.
Global Insulated Shippers Market: Dynamics
Growth of the global insulated shippers market is mainly bound to various macro-economic and micro-economic factors. The report reveals that the global insulated shippers market is mainly driven by surge in demand for the protective and temperature-sensitive packaging of various products. As demand for food products continues to increase, sales of the insulated packaging solutions is projected to remain high in the global market. Increasing preference for safe delivery of various products has led the manufacturers to integrate advanced packaging technology such as fiberglass, closed cell spray foam and rigid polystyrene foam panels. Moreover, increasing demand for protective packaging has further led the manufacturers to implement packaging solutions such as controlled distribution system and cold chain shipping. Through implementation of these techniques, the manufacturers can conveniently track and monitor the storage and the distribution system of the products. Growing need to store various products in the recommended temperature or condition is expected to rev up demand for the insulated containers and packaging solutions before shipping.
Demand for the temperature-sensitive and insulated containers is further expected to increase attributed to growing need for shipping the chemical and pharmaceutical products. Surge in demand to treat patients in various countries will continue to increase demand for the pharmaceutical products globally. Delivering pharmaceutical product with degraded quality can further hinder the recovery progress of patients. As pharmaceutical products significantly impact health of the patients, safe delivery of the pharmaceutical products is becoming a major concern globally. Some pharmaceutical products are recommended to be stored in a particular temperature. Exposure to extreme temperature conditions is projected to rev up demand for insulated containers and packaging solutions among the suppliers and distributors globally. Surge in demand for protective packaging of the pharmaceutical products is expected to contribute towards growth of the global insulated shippers market significantly.
Global Insulated Shippers Market: Segmentation
In the next section, the global insulated shippers market is segmented as product type, application, end use, and region. On the basis of product type, the global market is segmented as envelops & panels, expanded polystyrene (EPS), polyurethane (PUR), vacuum insulated panel (VIP) and other products. Based on application, the global market is segmented as frozen applications, chilled applications, ambient applications and pharmaceutical. By end use, the global market is segmented as pharmaceutical, food and beverages and others. On the basis of region, the global market is segmented as North America, Latin America, Europe, Japan, APEJ and MEA.
Global Insulated Shippers Market: Competition
Key players in the global insulated shippers market are Cold Chain Technologies Inc., Snyder Industries, Inc., Pelican Biothermal LLC, Sonoco Products Company, Saeplast Americas Inc, Tempack Packaging Solutions S.L., Cryopak Industries Inc., American Aerogel Corporation, EcoCool GmbH and TKT GmbH.