The Global Insulated Shippers Market is growing due to the increase in demand for digital platforms for tracking deliveries
The Global Insulated Shippers Market was valued at USD 7.2 Bn in 2020 and is anticipated to reach USD 15.2 Bn by 2027, with a growing CAGR of 11.3% during the forecast period.
The insulated shippers market demand is expected to increase due to rising demand for organic vegetables and fruits, through nine orders. Tessol, for example, teamed up with Sam Agri to develop a passive cooling system that can also be utilized in a smaller vehicle. This approach is known as a Zen box (Zero Energy Box).Furthermore, markets with substantial development potential and a strong influence on the emergence of particular trends, such as China's organic food sector, require special attention from a global perspective. The organic food business ranks fourth in the world in terms of retail sales volumes, with over USD 500 million in organic food exports. Thus, the increasing demand for insulated shipper in China’s food sector is poised to support the insulated shippers market growth in this region
Moreover, the COVID 19 breakout resulted in the development of numerous vaccines in 2020. Due to the majority of these vaccines are temperature sensitive, insulated vaccine shippers are expected to be used to ensure their safe and secure delivery. Insulated Products Corporation, Path-Tec, and Cold Chain Technologies, among others, have created COVID 19 vaccine transportation product lines.
Global Insulated Shippers Market by Region Outlook (Revenue, USD Million, 2021-2027)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
In terms of geography, Asia-Pacific dominated the regional market size for insulated shippers market. The growing demand for food deliveries, pharmaceutical deliveries, and frozen items is anticipated to drive the market growth. The dominance of Asia Pacific in e-retail is owing to China's total effect, which grew even more during the COVID-19 epidemic. Alibaba's Single Days sales reached a new high of USD 74.1 billion US dollars this year, up 26% from the same period last year. Since the 1990s, the rapid expansion of ecommerce has posed a number of problems to the logistics sector in Asia and throughout the world, including a lack of enough infrastructure and connection. To continue to fulfil high consumer expectations of cost, flexibility, and convenience, as well as a growing need for fast delivery in metropolitan areas, there is an urgent need to innovate and expand capabilities. Similarly, the growing e-commerce trend for buying food & groceries is anticipated to drive the market growth.
Moreover, in North America, the existence of big retailers such as Amazon and Walmart have dramatically altered grocery customers' purchasing habits in the United States. According to research conducted by the Retail Feedback Group, around 31% of the US digital grocery buyers stated that they purchased goods online from Amazon in 2018. In addition, about 33 percent of customers stated that they purchased groceries online from Walmart in 2018, upto 7% from 2017.
The Global Insulated Shippers Market Segmentation:
Global Insulated Shippers Market by Material Outlook (Revenue, USD Million, 2021-2027)
- Expanded polystyrene(EPS)
- Expanded polypropylene (EPP)
- Metalized Bubble Wrap
- Vacuum Insulated Panels
Global Insulated Shippers Market by Application Outlook (Revenue, USD Million, 2021-2027)
Global Insulated Shippers Market by End User Industry Outlook (Revenue, USD Million, 2021-2027)
- Food & Beverages
- Based on material, Expanded Polystyrene(EPS) segment held the largest market share for the year 2020 and is anticipated to continue its dominance in the ins
- Based on application, chilled segment accounted for a largest market share in 2020, followed ambient
- Food & Beverages segment accounted to be the largest market in the insulated shippers market, in terms of end user industry
- Based on regions, Asia-Pacific region is anticipated to hold a largest market throughout the forecast period in the insulated shippers market analysis
Company Profiles and Competitive Intelligence
The key players operating in the insulated shippers market are:
- Cascades, Inc.
- ICEE Insulated Folding Boxes
- Sealed Air
- FEURER Group GmbH
- Dinkhauser Kartonagen GmbH
- Sonoco Products Company
- The Wool Packaging Company Limited
- Cool Pac
- Insulated Products Corporation
- Barth GmbH
- Pelican BioThermal
- Polar Tech Industries, Inc.
- Drew Foam of Georgia
- Insulated Products Corp.
- Sofrigam USA
- Skyline Box and Packaging
- Cooler Warehouse
- In July 2021, Sonoco, one of the world's largest diversified packaging companies, provided an update on Project Horizon, a USD 115 million investment to convert its corrugated medium machine in Hartsville, South Carolina, to a state-of-the-art uncoated recycled paperboard operation with an annual capacity of 180,000 tons
- In June 2021, Sealed Air Corporation has committed more than USD 30 million to expand worldwide manufacturing capacity and invest in new equipment systems in order to satisfy the growing demand for Automated Packaging Systems (APS) AUTOBAG brand solutions, which Sealed Air acquired in 2019.