48.94% of Global Thermal Insulation Packaging Market Revenue is generated by Refrigerated Segment

 Thermal insulation functions as a barrier between items of different temperatures, preventing heat transfer. The chemical makeup of medicinal items is preserved via thermal packaging, guaranteeing that no efficacy is lost during transit. It's critical to understand how long a shipment can take and how well the insulation can keep temperatures controlled until the product arrives at its destination. These materials are used in packaging to assist retain product freshness and efficacy as part of a cold chain.

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Data Bridge Market Research analyses that the thermal insulation packaging market is expected to grow at a CAGR of 6.70% in the forecast period of 2022 to 2029 and is expected to reach 15,892,492.17 thousand by 2029. Thermal insulation packaging has become necessary as a result of global supply chains. The demand for effective thermal insulation packaging solutions has increased as a result of the distribution of food, beverages, and pharmaceuticals. The requirement for thermal insulation packaging to preserve product integrity is being driven by a strong emphasis on regulatory compliance for food and pharmaceutical items.

Upsurge in regulatory requirements is expected to drive the market's growth rate during the forecast period

The rising demand for temperature-sensitive products has drew the attention of regulators. Regulatory agencies emphasize the need to ensure that food and pharmaceutical items adhere to regulations and are transported within allowed temperature limits. Temperature monitoring is essential for pharmaceutical and food industries due to the rise in temperature sensitive products, which has resulted in stronger restrictions and more visibility across the supply chain. Many manufacturers are taking advantage of this opportunity to develop proactive tactics that allow them to detect deviations and dispatch replacements to avoid delays. Furthermore, the necessity for in-depth knowledge of the temperature of products in transit has increased due to serialization requirements for biopharma products.

Report Scope and Market Segmentation

Segment Analysis:

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. In 2022, the box segment is expected to dominate global thermal insulation packaging market with 55.31% market share as boxes maintain the freshness and quality of the products more than other the products, which increases its demand globally.

In 2022, the box segment of product segment is anticipated to dominate the thermal insulation packaging market. 

In 2022, the box segment of this market will dominate the thermal insulation packaging market as boxes maintain the freshness and quality of the products more than other the products, which increases its demand globally. The box segment is expected reach the highest CAGR of 6.9% in the forecast period of 2022-2029.

• On the basis of packaging type, the global thermal insulation packaging market is segmented into passive packaging, active packaging, and cold storage. In 2022 passive packaging segment is expected to dominate the global thermal insulation packaging market with a 61.20% market share as they are lightweight and helps in the protection of the goods from external damage which increases its demand globally.

In 2022, the passive packaging segment is projected to hold the largest share of packaging type segment in the thermal insulation packaging market. 

In 2022, the passive packaging segment is anticipated to hold the largest share of global thermal insulation packaging market as they are lightweight and helps in the protection of the goods from external damage which increases its demand globally. The passive packaging segment is growing with a CAGR of 6.9% in the forecast period of 2022 to 2029.

• 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. In 2022, the polystyrene segment is expected to dominate the global thermal insulation packaging market with 24.91% market share as polystyrene is easy to mold and has good dimensional stability which increases its demand globally.
• On the basis of temperature range, the global thermal insulation packaging market is segmented into refrigerated, frozen and ambient. In 2022, the refrigerated segment is expected to dominate the global thermal insulation packaging market with 48.94% market share as refrigerated temperature slower bacterial growth, increasing its demand globally.
• On the basis of application, global thermal insulation packaging market is segmented into pharmaceutical, food & beverage, chemicals, horticulture products, electronics and others. In 2022, the pharmaceutical segment is expected to dominate the global thermal insulation packaging market with 29.11% market share as thermal insulation packaging reduces heat movements and vapor condensation, increasing its demand globally.

Major Players

Data Bridge Market Research recognizes the following companies as the major Thermal insulation packaging market players in Thermal insulation packaging market are Thermal Ice (U.S.), QProducts & Services (U.S.), Nordic Cold Chain Solutions (U.S.), Biobright (U.S.), Sealed Air (U.S.), ABBE (U.S.), DUFAYLITE (U.K.), Cellulose Material Solutions, LLC (U.S.), Cold Chain Technologies (U.S.), Sonoco Products Company (U.S.).

Market Development -

• In December 2021, Avantor, Inc. had announced their entrance into a distribution agreement to supply Agilent technologies' chemistries and supplies division products in the U.S. and Canada. The collaboration allows Avantor to satisfy a wide range of analytical chemistry workflow requirements for customers across several customer segments by adding Agilent Technologies' chromatography consumables, chemical standards, and spectroscopic supplies to its portfolio. Liquid chromatography columns for small and large molecule separations, gas chromatography, size exclusion ranges, a wide range of spectroscopic supplies, and sample preparation tools including chemical standards, vials, syringes, and other items are all part of the offering.
• In March 2022, Cold Chain Technologies' acquired Packaging Technology Group further announced the expansion of its commitment to environmentally friendly and sustainable packaging solutions. PTG is a leader in the development of long-term thermal packaging solutions that meet the stringent criteria of its worldwide blue-chip pharmaceutical clients. This exciting collaboration will enable our combined company to invest more in essential sustainable technologies and provide a greater range of creative solutions to consumers throughout the world.

Regional Analysis

Geographically, the countries covered in the thermal insulation packaging market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia and New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, United Arab Emirate, Saudi Arabia, Egypt, Israel, South Africa, Rest of Middle East and Africa.  

As per Data Bridge Market Research analysis:

Europe is the dominant region in Thermal insulation packaging market during the forecast period 2022 - 2029

Europe will continue to dominate the Thermal insulation packaging market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period due to the rising demand for temperature-sensitive goods in this region. Also, increase in application usage in the pharmaceutical industry and food and beverages industry is anticipated to propel the market's growth rate.

Asia-Pacific is estimated to be the fastest-growing region in Thermal insulation packaging market the forecast period 2022 - 2029

Asia-Pacific region is anticipated to grow at the highest rate during the forecast period of 2022-2029 due to the rapidly increasing consumption of insulated packaging in the food and beverages as well as pharmaceuticals industries in economies including Japan, China and India.

COVID-19 Impact Analysis

COVID-19 had an influence on many manufacturing industries in 2020-2021, resulting in job losses, supply chain disruptions, and transit limitations. However, there was no discernible impact on their thermal insulation packaging operations and supply chain, as increased demand for thermal insulation packaging was driven by the import and export of vaccinations and vital products. The thermal insulation packaging market is expected to rise due to rising awareness and government support for research and development and the introduction of environmentally friendly and sustainable thermal insulation packaging.

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