Vacuum Insulated Panel Shipper Market: An Overview
The global market for vacuum insulated panel shippers has emerged as an important segment in the global temperature controlled packaging market. Complex supply chains and shipping & logistics activities have signified the need for vacuum insulated panel shippers to provide better protection for valuable goods during shipping. Vacuum insulated panel shippers are a particular type of packaging solutions used for shipping temperature sensitive products such as food, beverage, pharmaceutical, chemical, blood, organs, and serum, among others. This type of packaging acts as a shield to products that protects from external damage and temperature. Various temperature controlled packaging methods such as active, smart and intelligent packaging are used for maintaining the temperature of the packaged product. Among the cooling methods for packaging requirements, passive cooling is one of the most economically feasible options for temperature sensitive products, considering the low volumes. Along with this, the distribution and supply of products having variable temperature range to a distinct location is a challenge that can be resolved vacuum insulated panel shippers, a cold chain packaging.
Vacuum Insulated Panel Shipper Market: Dynamics
The demand for vacuum insulated panel shippers in the packaging market has evolved to cater to a variety of packaging applications. Vacuum insulated panel shipper helps in maintaining the constant temperature during storage and transportation of pharmaceutical products such as syringes, drugs, and medication among others. The key application for vacuum insulated panel shippers market is in the healthcare and pharmaceutical sectors mainly. Biologics are the future of medicine. Complex medicines are not like traditional medicines and are chemically synthesized and can’t be produced in bulk amount as the biologic medication can only be manufactured in a small amount. These medications are also temperature sensitive and are vulnerable to contamination and degradation. Vacuum insulated panel shippers are effective packaging solution to encounter the contamination and temperature changes. The advantages associated with the vacuum insulated panel shipper are: it reduces gel refrigerant or dry ice requirements, recyclable, environmentally neutral, and extended shipping duration. Vacuum insulated panel based insulation and PCM-based refrigerants offer significant advantages over conventional expanded polystyrene (EPS), and polyurethane insulated shippers. Shippers implementing Vacuum insulated panel and PCMs are relatively lightweight, provide wide temperature ranges and cut distribution costs and thus, are gaining market share.
For instance, Sonoco Thermosafe’s product ‘Greenbox’ for healthcare industry uses VIP as insulation material and a patented renewable plant-based PCM
These factors are anticipated to further flourish the demand for vacuum insulated panel shippers in the global market during the forecast period. The outlook for global vacuum insulated panel shippers market is expected to be positive.
Despite the positive outlook, some factors that might hamper the growth of the global vacuum insulated panel shippers market. One of the restraining factors is the comparatively high cost of the vacuum insulated panels in vacuum insulated panel shippers to its counterparts such as Expanded Polystyrene (EPS) foam and Polyurethane (PU) foam.
Vacuum Insulated Panel Shipper Market: Segmentation
The global vacuum insulated panel shippers market has been categorized on the basis of capacity and application.
On the basis of capacity, the global vacuum insulated panel shippers market has been segmented as:
- Up to 5 Liter
- 5 Liter to 10 Liter
- 10 to 15 Liter
- More than 15 Liter
On the basis of application, the global vacuum insulated panel shippers market has been segmented as:
- Food Products
- Beverage Products
- Pharmaceutical Products
- Healthcare Products
- Clinical Samples
- Other Sensitive Products
Vacuum Insulated Panel Shipper Market: Regional Outlook
Globally, the market for vacuum insulated panel shippers is divided into seven key regions - North America, Western Europe, Latin America, Eastern Europe, the Asia Pacific excluding Japan, Middle East & Africa, and Japan. Temperature controlled packaging solutions market for pharmaceuticals is well established in North America. The market for vacuum insulated panel shippers is witnessing high growth on the backdrop of burgeoning demand from the healthcare sector. The need for transportation drugs, vaccines, and clinical trials in the North America region has triggered the vacuum insulated panel shippers growth. North America, especially the U.S., is home to many established players which are engaged in developing technology and processes necessary to develop cold chain systems efficiently.
Vacuum Insulated Panel Shipper Market: Some of the Key Players
Following are some of the key players operating in the vacuum insulated panel shippers market are ThermoSafe Brands, Inc., Cryopak Industries Inc., Sealed Air Corporation, Sonoco Products Company, Aeris Dynamics, Tempack Packaging Solutions, S.L., Infitrak Inc., and Cold Chain Technologies, Inc. etc. Many more local and unorganized players are expected to contribute to the global vacuum insulated panel shippers market during the forecast period.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.