According to SPER Market Research, the Insulated Shipping Packaging Market is estimated to reach USD 14.85 billion by 2032 with a CAGR of 6.54%. Insulated shipping packaging is a type of packaging designed to protect goods that are sensitive to temperature during transportation. The main purpose of this packaging is to ensure that specific temperature ranges are maintained to prevent any spoilage or damage to the products during shipping. Typically, insulated shipping packaging is used for perishable goods such as food, beverages, and pharmaceuticals that require temperature-controlled transportation. With the growth of e-commerce and cross-border trade, there has been a significant increase in demand for insulated shipping packaging. Fresh and frozen foods, as well as pharmaceuticals, are also contributing to the growth of the market.
Insulated Shipping Packaging Market Overview (2022-2032)
- Forecast CAGR (2022-2032): 6.54%
- Forecast Market Size (2032): 14.85 billion
The insulated shipping packaging market is segmented based on the type of material used, product type, application, and geography. The most commonly used materials for insulated shipping packaging are expanded polystyrene (EPS), polyurethane foam (PU), and vacuum insulated panels (VIP). The product types include boxes, containers, bags, and wraps, among others, and the applications include food and beverages, pharmaceuticals, chemicals, and others. The leading markets for insulated shipping packaging are North America and Europe due to the high demand for temperature-sensitive products in these regions. The Asia Pacific region is also experiencing rapid growth in the market due to the increasing demand for fresh and frozen foods and the growth of the pharmaceutical industry.
Impact of COVID-19 on the Insulated Shipping Packaging Market
The global insulated shipping packaging market has been significantly impacted by the COVID-19 pandemic. Due to the rise in e-commerce and online shopping, along with the increased demand for temperature-sensitive products such as food and pharmaceuticals, the demand for insulated packaging solutions has increased. However, the pandemic has also caused supply chain disruptions and reduced production levels due to lockdowns and travel restrictions.
The shift in consumer behavior towards online shopping has required companies in the insulated shipping packaging market to increase their production capacity and adapt to the changing market conditions. Despite this, there have been challenges such as raw material shortages, increased production costs, and logistic difficulties. Furthermore, the closure of factories and distribution centers has caused delivery delays and impacted the supply chain.
In conclusion, while the COVID-19 pandemic has presented challenges for the global insulated shipping packaging market, it has also created opportunities for growth and expansion as companies strive to meet the increasing demand for temperature-sensitive products in the e-commerce and online shopping industries.
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Insulated Shipping Packaging Market Key Segments Covered
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2032. This report contains statistics on product type segment growth estimates and forecasts.
By Material Type:
- Extended Polystyrene (EPS)
- Extruded Polystyrene (XPS)
- Up to 5 L
- 5L- 10L
- 10L -15L
- Above 15L
By Sales Channel:
- Specialty/Departmental Stores
- Food & Beverages
- Middle East & Africa
- North America
- Latin America
America’s reliance on plastic packaging materials like EPS, EPP, polyurethane, and others is likely to increase demand for sustainable packaging options like paper in the future years. Increasingly severe laws governing the use of plastic materials for packaging are projected to present substantial hurdles for European makers of insulated shippers. In Last six years, the European Union enacted a regional ban on single-use plastic, pushing package makers to invest in the development of sustainable packaging alternatives.
Insulated Shipping Packaging Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; COOL Sarl, Creo pack packaging, Cryopak, Drew foam companies, Harwal groups, Marko foam products, Radwa Corporation, Sofrigam, Sonoco products, Topa thermal.
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