The goal is for the market for thermal insulation packaging to grow significantly between 2022 and 2030, with a CAGR of 17.2%, to reach US$ 247.1 billion.
Thermal insulation packaging is now necessary due to the worldwide supply chain. The demand for dependable thermal insulation packaging solutions has increased as a result of the boom in the distribution of food, beverages, and pharmaceuticals. The demand for thermal insulation packaging to protect the items’ integrity has been prompted by the increased focus on the effective transportation of food and pharmaceutical products.
In recent years, there has been a growing emphasis on the safety of food and pharmaceuticals. Favorable government rules, together with current changes in trends, have led to an increase in the demand for safe packaging to guarantee the quality of products. Businesses have ready themselves for regulatory expansion as a result of regulatory reforms. It is anticipated that improvements in data management and reliable tracking of logistics would result from technological developments in thermal insulation packaging solutions. The market for thermal insulation packaging is predicted to increase as a result of the aforementioned considerations.
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According to FMI estimations, the global thermal insulation packaging market is projected to see a significant hike post-pandemic owing to the increased demand for thermal insulation packaging solutions in the pharmaceutical industry, predominantly for medical products including testing kits, vaccine distribution, and the development of drugs to treat infections. The development of drugs in order to treat patients increases the urgency for more reliable thermal insulation packaging systems as temperature control determines the stability and quality of the drugs.
Key Takeaways
- Data loggers combined with temperature sensors and USB connection points are gaining massive popularity and are becoming very common and cheap to include. These label-like loggers easily get fixed to the packaging, continuously track temperature conditions, and provide a full summary of time and temperature data. In addition to that, battery-powered data loggers can include the latest technologies such as RFID, Wi-Fi, and GPS, and can provide real-time information regarding temperature fluctuations.
- Due to a surging increase in the demand for temperature-sensitive products, it has drawn regulatory attention. Now regulatory bodies are emphasizing ensuring that the food and pharmaceutical products are complying with the norms and have been kept within approved temperature ranges during transit. Strict regulations and high visibility across the supply chain have grown temperature-sensitive products which make temperature monitoring a must for pharmaceutical and food manufacturers.
- Several manufacturers are leveraging this opportunity to build efficient proactive strategies which assist them to identify excursions and send replacements to minimize delays. Moreover, serialization requirements for biopharma products have intensified the demand for in-depth know-how of the temperature of products in transit.
- As per the recent market trends, thermal insulation packaging solutions offer a rapid expansion of their rental businesses and are comparatively less focused on fresh sales of their products. Attributed to the higher costs of shippers and insulated containers coupled with environmental concerns associated with their disposal, buying these still remains an uneconomical and non-ecological solution for most end users.
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Competitive Landscape
Prominent companies operating in the thermal insulation packaging market are focusing on strategic collaborations with technology partners. Surging investments in technology including cloud computing and IoT solutions are expected to aid the thermal insulation packaging market in multiple ways. Such technological improvements in the market promise better control, visibility, and accountability for thermal insulation packaging solutions.
The key players Are:
Emball’ISO, Sonoco ThermoSafe, Pelican Products, Inc., Cold Chain Technologies, Inc., Sofrigam SAS, CSafe Global, LLC, Insulated Products Corporation, Cryopak Industries Inc., Snyder Industries, Inc., va-Q-tec AG, Inmark LLC, DGP Intelsius Ltd., Softbox Systems Ltd., Envirotainer Ab, Aeris Dynamics Pte Ltd., Global Cold Chain Solutions, Thermo Fisher Scientific, Inc, Helmer Scientific Inc., Global Cooling, Inc., PHC Holdings Corporation, BINDER GmbH, Esco Micro Pte Ltd., Labcold Ltd., ARCTIKO A/
Key Segments Covered in Thermal Insulation Packaging Industry Research
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
More Insights into the Thermal Insulation Packaging Market
The U.S. is expected to dominate the global thermal insulation packaging market as it holds the largest chunk of the market globally. Being the largest manufacturing sector in the North American region, the U.S. comprises a maximum portion of frozen foods. Thermal insulation packaging is expected to grow owing to the need for packaging for frozen food distribution across the region.
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