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Insulated Shipping Packaging Global Market Worth $10.43 Billion By 2028 Rapid Growth Predicted CAGR of 7.3% | Amcor PLC, Cryopak, COOL Sarl, CREOPACK, Harwal Group
Insulated Shipping Packaging Global Market
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According to The Business Research Company's, The insulated shipping packaging market size has grown strongly in recent years. It will grow from $7.39 billion in 2023 to $7.88 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to growth in e-commerce and online retailing activities, increase in temperature-sensitive product shipments (e.g., food, pharmaceuticals), stringent regulations for temperature-controlled shipping and cold chain compliance, expansion of the biopharmaceutical and life sciences industry, demand for sustainable and eco-friendly packaging solutions.
The insulated shipping packaging market size is expected to see strong growth in the next few years. It will grow to $10.43 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to adoption of advanced phase change materials (pcms) for temperature control, integration of smart sensors and iot for real-time monitoring of shipments, rising demand for personalized and customized packaging solutions, expansion of cell and gene therapy shipments in biopharmaceuticals, research and development in next-generation insulated packaging materials. Major trends in the forecast period include use of high-performance insulation materials, integration of active and passive cooling technologies, customized and tailored packaging designs, smart packaging with temperature sensors and trackers, testing and validation of packaging performance.
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Market Drivers and Trends:
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 February 2022,the frozen food sales has increased by 8.6% that is $72.2 billion in 2022. 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.
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Major Key Players of the Market:
Amcor PLC, Cryopak, Davis Core & Pad Company, DS Smith PLC, DuPont de Nemours Inc., COOL Sarl, CREOPACK, Drew Foam Companies Inc., Harwal Group, Integreon Global, Marko Foam Products Inc., Sofrigam SA, Sonoco Products Company, Topa Thermal, W.W. Grainger Inc., Deutsche Post DHL Group, Huhtamaki Oyj, Constantia Flexibles Group GmbH, Greiner Group AG, Innovia Films Limited, Winpak Ltd., Polar Tech Industries Inc., Insulated Products Corporation, Cold Ice Inc., Insulated Packaging Systems (IPS), Thermal Shipping Solutions, American Aerogel Corporation, Insulated Transport Products, Cold Chain Technologies, Envirotainer AB, Pelican BioThermal LLC, Softbox Systems Ltd.
Insulated Shipping Packaging Market 2024 Key Insights:
• The insulated shipping packaging market size is expected to see strong growth in the next few years. It will grow to $10.43 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%.
• Rising Frozen Food Consumption Drives Growth In Insulated Shipping Packaging Market
• Technological Innovations Reshape The Insulated Shipping Packaging Market
• North America was the largest region in the insulated shipping packaging market in 2023
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