Machinery

5 Key Takeaways From The Insulated Shipping Packaging Market Report 2024

January 24, 2024January 24, 2024 by The Business Research Company

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Insulated Shipping Packaging Global Market Report 2024, the insulated shipping packaging market is expected to show significant growth in the forecast period.

The insulated shipping packaging market has witnessed robust growth, with the market size surging from $7.39 billion in 2023 to $7.88 billion in 2024, representing a notable compound annual growth rate (CAGR) of 6.6%. This remarkable expansion in the historic period is credited to various factors such as the booming e-commerce sector, increased demand for temperature-sensitive product shipments, stringent regulations for cold chain compliance, and the flourishing biopharmaceutical and life sciences industry.

Anticipated Strong Growth in the Coming Years

The growth momentum is poised to continue in the coming years, projecting a substantial increase in market size to $10.43 billion by 2028 at a CAGR of 7.3%. This anticipated growth in the forecast period is attributed to several factors, including the 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 packaging solutions, and the expanding scope of cell and gene therapy shipments in the biopharmaceutical sector.

View More On The Insulated Shipping Packaging Market Report 2024 – https://www.thebusinessresearchcompany.com/report/insulated-shipping-packaging-global-market-report

Trends Shaping the Future Landscape

– High-Performance Insulation Materials

A prominent trend in the forecast period is the use of high-performance insulation materials, enhancing the efficiency of insulated shipping packaging for temperature-sensitive products.

– Integration of Active and Passive Cooling Technologies

Technological innovations are driving the integration of both active and passive cooling technologies, ensuring optimal temperature control during the shipping process.

– Customized and Tailored Packaging Designs

The market is witnessing a shift towards customized and tailored packaging designs, addressing the specific needs and requirements of various industries and applications.

– Smart Packaging with Temperature Sensors and Trackers

Smart packaging equipped with temperature sensors and trackers is becoming increasingly prevalent, providing real-time monitoring and ensuring the integrity of shipped products.

– Testing and Validation of Packaging Performance

Ensuring the reliability of insulated shipping packaging, the trend of rigorous testing and validation of packaging performance is gaining prominence, offering assurance to end-users.

Driving Forces: Rising Frozen Food Consumption

The surge in frozen food consumption is a significant driver behind the growth of the insulated shipping packaging market. With frozen food sales in the United States alone reaching $72.2 billion in 2022, a notable 8.6% increase, the demand for effective insulated shipping solutions is on the rise.

Industry Players and Strategic Moves

– Key Market Players

Major companies contributing to the insulated shipping packaging market include Amcor PLC, Cryopak, Davis Core & Pad Company, DS Smith PLC, DuPont de Nemours Inc., and many more.

– Technological Innovations

In September 2021, Lifoam Industries introduced Envirocooler insulated shippers with bioffex technology, showcasing the industry’s commitment to technological innovation.

– Acquisition Strategies

Cold Chain Technologies (CCT) LLC, a key player in the market, expanded its offerings by acquiring Packaging Technology Group (PTG) Inc. in March 2023, demonstrating a strategic move to provide sustainable packaging solutions.

Market Segmentation for Precision

– Type

The market is segmented based on type, including pouches and bags, boxes and containers, and other types, providing a diverse range of packaging solutions to cater to different needs.

– Material

Insulated shipping packaging materials encompass plastic, wood, glass, and other materials, offering versatility and flexibility in design and functionality.

– End User

The end-user segmentation covers food and beverages, industrial applications, pharmaceuticals, beauty and personal care, and other end-user applications, showcasing the broad applicability of insulated shipping packaging.

Regional Dynamics

– North America’s Leadership

In 2023, North America emerged as the largest region in the insulated shipping packaging market, underscoring the region’s robust economic activities and demand for advanced packaging solutions.

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The Insulated Shipping Packaging Global Market Report 2024 provides an in-depth analysis on the insulated shipping packaging market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the insulated shipping packaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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