PUBLISHER: The Business Research Company | PRODUCT CODE: 1246134
PUBLISHER: The Business Research Company | PRODUCT CODE: 1246134
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“Insulated Shipping Packaging Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on insulated shipping packaging market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for insulated shipping packaging? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The insulated shipping packaging market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Major players in the insulated shipping packaging market are: Amcor PLC, Cryopak, Davis Core & Pad Company, DS Smith PLC, DuPont (US), Innovative Energy, Inc., Marko Foam Products, Inc., Exeltainer, Sonoco Products Company, The Wool Packaging Company Limited, Thermal Packaging Solutions, Insulated Products Corporation, ICertech, CAMBRO, Carry Cool Enterprise, Cascades inc., Hydropac Limited, NanoCool (Pelican BioThermal) and Valor Industries.
The global insulated shipping packaging market grew from $6.95 billion in 2022 to $7.37 billion in 2023 at a compound annual growth rate (CAGR) of 6.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, causing inflation across goods and services and affecting many markets across the globe. The insulated shipping packaging market is expected to grow to $9.41 billion in 2027 at a CAGR of 6.3%.
The insulated shipping packaging market consists of sales of insulated boxes made from stainless steel or aluminum material. Values in this market are: 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Insulated shipping packaging refers to a type of packaging that controls the temperature of a product and aids in shipping various items that are temperature-sensitive. Insulated packaging protects products from temperature and pressure fluctuations, as well as physical harm. The insulated shipping packaging is used for the preservation of product freshness and efficacy.
North America was the largest region in the insulated shipping packaging market in 2022. The regions covered in the insulated shipping packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of insulated shipping packaging are pouches and bags, boxes and containers, and other types. Pouches and bags refer to small or medium-sized bags for storing or transferring stuff that is compact, lightweight thermal envelopes and are ideal for transporting flat or small temperature-sensitive items. The various materials include plastic, wood, glass, and other material that are used in food and beverages, industrial, pharmaceuticals, beauty and personal care, and other end-user applications.
An increase in the consumption of frozen food is contributing to the growth of the insulated shipping packaging market going forward. Frozen food refers to the food that has been subjected to rapid freezing and is kept frozen until used. Insulated shipping packaging is used to keep frozen food at a constant temperature. For instance, according to the American Frozen Food Institute, FMI Study, a US-based trade association, in 2020 frozen foods have a very high household penetration of 99.2% and grew by 21% compared to previous year. An increase in the consumption of frozen food will drive the growth of the insulated shipping packaging market.
Technological advancements are a key trend gaining popularity in the insulated shipping packaging market. Major companies operating in insulated shipping packaging are developing new technologies to strengthen their position in the market. For instance, in September 2021, Lifoam Industries, a US-based company, launched Envirocooler insulated shippers with bioffex technology. BioffexTM technology combines a proprietary manufacturing technique with plant-based raw ingredients to produce revolutionary foam insulation made entirely of renewable materials.
In November 2020, Wynnchurch Capital, a US-based private equity firm that offers investment services, acquired Drew Foam Companies Inc for an undisclosed amount. With Drew Foam Companies, Wynnchurch invested in a differentiated market, which fits their investment philosophy. Drew is a US-based manufacturing company providing custom-fabricated and molded expanded polystyrene products for packaging. The company specializes in manufacturing a variety of insulated shipping containers (ISC).
The countries covered in the insulated shipping packaging market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The insulated shipping packaging market research report is one of a series of new reports from The Business Research Company that provides insulated shipping packaging market statistics, including insulated shipping packaging industry global market size, regional shares, competitors with an insulated shipping packaging market share, detailed insulated shipping packaging market segments, market trends and opportunities, and any further data you may need to thrive in the insulated shipping packaging industry. This insulated shipping packaging market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.