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.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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