The adoption of thermal insulation packaging is rapidly increasing due to its ability to maintain the optimal temperature for items such as food, pharmaceuticals, and electronics during transportation and storage. This is crucial because certain products can become damaged if exposed to excessive heat or cold. Its advantages encompass product preservation, cost-effectiveness, compliance with regulations, and environmental sustainability.
According to Data Bridge Market Research analyses the Global Thermal Insulation Packaging Market is expected to reach the value of USD 15,892,492.17 thousand by the year 2029, at a CAGR of 6.7% during the forecast period of 2022-2029.
“Rise of ready-to-eat food increases the demand for thermal insulation packaging"
The rising demand for convenient, ready-to-heat-and-eat foods is a crucial factor driving the growth of the thermal insulation packaging market. These foods require specialized packaging to maintain the right temperature, ensuring freshness and safety. This packaging is a protective barrier, extending the shelf life and preventing spoilage. As the demand for such convenient meals continues to increase, the necessity for this specialized packaging becomes more pronounced, especially for safe transportation to various locations.
What restraints the growth of the global thermal insulation packaging market?
“Fluctuations in the prices impact the market growth"
Fluctuations in the prices of materials used for thermal insulation packaging can have significant implications. These changes are often driven by factors such as increased global trade, urban development, and growing energy demands. When the prices of these materials experience fluctuations, it directly impacts the production costs of thermal insulation packaging. If these costs become excessively high, consumer demand may decrease, and it can disrupt the manufacturing and distribution processes for companies producing these products.
Segmentation: Global Thermal Insulation Packaging Market
The thermal insulation packaging market is segmented on the basis of product, packaging type, material, temperature range, and application.
- On the basis of product, the global thermal insulation packaging market is segmented into box, bags, carton liners, bubble cushioning, and others.
- On the basis of packaging, the global thermal insulation packaging market is segmented into passive packaging, active packaging, and cold storage.
- On the basis of material, the global thermal insulation packaging market is segmented into polystyrene, polyurethane (PUR), polyethylene, vacuum insulated panels (VIP), polylactic (PLA), corrugated fiber board, and others.
- On the basis of temperature range, the global thermal insulation packaging market is segmented into refrigerated, frozen, and ambient.
- On the basis of application, the global thermal insulation packaging market is segmented into pharmaceutical, food and beverage, chemicals, horticulture products, electronics, and others.
Regional Insights: Europe dominates the Global Thermal Insulation Packaging Market
Europe dominates the thermal insulation packaging market, driven by the increasing need for transporting temperature-sensitive products within the region. The pharmaceutical, food and beverage sectors, in particular, witness a growing application of thermal insulation packaging to maintain the integrity of their products. This upsurge in demand is expected to fuel further growth in the European thermal insulation packaging market, driven by the imperative to preserve product quality during transportation.
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Recent Development in Global Thermal Insulation Packaging Market
- In December 2021, Avantor, Inc. established a distribution partnership aimed at providing products from Agilent Technologies' chemistries and supplies division to customers in the U.S. and Canada, resulting in increased revenue from the North American market.
- In July 2021, Nordic Cold Chain Solutions shared insights on the utilization and significance of the cold chain process, effectively expanding its regional customer base.
The Prominent Key Players Operating in the Global Thermal Insulation Packaging Market Include:
- Thermal Ice (Australia)
- QProducts & Services (U.S.)
- Nordic Cold Chain Solutions (U.S.)
- Biobright (U.S.)
- Sealed Air (U.S.)
- ABBE (Switzerland)
- DUFAYLITE (U.K.)
- Cellulose Material Solutions, LLC (U.S.)
- Cold Chain Technologies (U.S.)
- Sonoco Products Company (U.S.)
- SOFRIGAM (France)
- The Wool Packaging Company Limited (U.K.)
- Insulated Products Corporation (U.S.)
- Cryopak (U.S.).
- DS Smith (U.K)
- Intelsius (U.K.)
- Csafe Global (U.S.)
- WestRock Company (U.S.)
- Avantor, Inc. (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global thermal insulation packaging market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Thermal Insulation Packaging Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
