Insulated Shipping Packaging Global Market Report 2024

Insulated shipping packaging is a form of packaging designed to regulate the temperature of products and facilitate the transportation of items sensitive to temperature changes. This packaging shields products from fluctuations in temperature and pressure, as well as physical damage, ensuring the preservation of product freshness and efficacy during shipping.

The primary categories of insulated shipping packaging include pouches and bags, boxes and containers, and other variations. Pouches and bags are compact, lightweight thermal envelopes, suitable for storing or transporting small, flat, or temperature-sensitive items. These packaging options utilize various materials such as plastic, wood, glass, and others, catering to diverse applications in food and beverages, industrial, pharmaceuticals, beauty and personal care, and various other end-user sectors.

The insulated shipping packaging market research report is one of a series of new reports 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.

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 upswing in the historical period's growth can be ascribed to the expansion of e-commerce and online retailing activities, a surge in shipments of temperature-sensitive products like food and pharmaceuticals, the imposition of stringent regulations for temperature-controlled shipping and cold chain compliance, the flourishing biopharmaceutical and life sciences industry, and a rising 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 projected growth in the forecast period can be linked to the increasing adoption of advanced phase change materials (PCMs) for temperature control, the integration of smart sensors and IoT for real-time monitoring of shipments, a growing demand for personalized and customized packaging solutions, the expansion of cell and gene therapy shipments in biopharmaceuticals, and ongoing research and development in next-generation insulated packaging materials. Key trends anticipated in the forecast period involve the use of high-performance insulation materials, the integration of active and passive cooling technologies, the development of customized and tailored packaging designs, the incorporation of smart packaging with temperature sensors and trackers, and a focus on testing and validating packaging performance.

The surge in frozen food consumption is playing a pivotal role in propelling the growth of the insulated shipping packaging market. Frozen food, subjected to rapid freezing and maintained in a frozen state until use, relies on insulated shipping packaging to uphold a constant temperature. Notably, data from the American Frozen Food Institute's FMI Study in February 2022 revealed an 8.6% increase in frozen food sales, reaching $72.2 billion in 2022. This uptick in frozen food consumption is anticipated to drive the expansion of the insulated shipping packaging market.

The increasing demand in e-commerce is set to drive the growth of the insulated shipping packaging market. E-commerce, the online buying and selling of goods and services, relies on insulated shipping packaging for the transportation of temperature-sensitive items, including perishables and pharmaceuticals, ensuring their quality and freshness during transit. Recent statistics from the United States Census Bureau in August 2023 indicate a 7.5% increase (or 1.4%) in e-commerce estimates for the second quarter of 2023 compared to the same period in 2022. Online stores accounted for 15.4% of all sales in the second quarter of 2023, highlighting the growing importance of e-commerce in driving the insulated shipping packaging market.

Technological advancements emerge as a prominent trend in the insulated shipping packaging market, with major companies leveraging innovation to strengthen their market position. In September 2021, Lifoam Industries, a US-based company, introduced Envirocooler insulated shippers featuring BioffexTM technology. This groundbreaking technology combines a proprietary manufacturing technique with plant-based raw materials, producing foam insulation entirely composed of renewable materials.

Leading companies in the insulated shipping packaging sector are actively innovating new products to meet customer needs. The RecyCold climaliner, developed by Ranpak Holdings Corp., serves as an insulated thermal packaging solution for cold chain shipping. Launched in August 2023, the RecyCold climaliner offers up to 48 hours of insulated thermal protection for frozen, chilled, and ambient products. Notably, it is a sustainable one-way transport solution, made from 98.5% recyclable, renewable, and biodegradable paper.

In March 2023, Cold Chain Technologies (CCT) LLC, a US-based provider of insulated packaging solutions, acquired Packaging Technology Group (PTG) Inc. for an undisclosed amount. This acquisition positions CCT to offer sustainable packaging solutions and a broader range of innovative solutions to its customers. Packaging Technology Group (PTG) Inc., based in the US, specializes in thermal packaging and shipping solutions.

Major companies operating in the insulated shipping packaging market include 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.

North America was the largest region in the insulated shipping packaging market in 2023. The regions covered in the insulated shipping packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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 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.

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.


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