The Global Insulated Shippers Market was valued at USD 7.2 Bn in 2020 and is expected to reach USD 15.2 Bn by 2027, with a growing CAGR of 11.3% during the forecast period.
Insulated Shippers keep the samples warm while they're in transit. A compact cooler and corrugated outer box are included with each shipper. By adding pre-printed labelling to the shippers, such as an optional logo or needed regulatory labelling, the simple exterior boxes may be entirely customised. Additional regulatory compliance components, such as absorbents and specimen bags, are offered separately.
Growing demand for pharmaceuticals is anticipated to drive the insulated shippers market growth. For instance, total pharmaceutical sales in the United States were expected to be about 514 billion dollars in the third quarter of 2020. Humira from AbbVie, Keytruda from Merck, and Revlimid from Bristol Myers Squibb were the top three selling medicines year after year. The rising blood thinner Eliquis from Bristol Myers Squibb and Pfizer is the first significant shift at No. 4. Opdivo, a checkpoint inhibitor developed by Bristol-Myers Squibb, took the top place in 2019. However, the medication, which was once a competitor to Keytruda, was unable to stay up with Merck and slipped to No. 8 in 2020. This factor of competition may hinder the insulated shippers market demand.
Additionally, growing demand for organic vegetables & fruits is anticipated to drive the insulated shippers market growth. For instance, Tessol partnered with Sam Agri to create a passive cooling system that can also be used in a smaller car. A Zen box (Zero Energy Box) is the name given to this solution. Moreover, markets with significant expansion potential and a dominant impact on the creation of certain trends, notably the organic food industry in China, need special study from a global viewpoint.. Additionally, USD 500 million in organic food exports, the organic food sector is ranked fourth in the world in terms of retail sales volumes. The mistrust of national organic producers and the certification procedure (only 30% of product is certified by the Chinese organic certification centre) are two unique features of the Chinese food industry.
By End User Industry
The unique insights provided by this report also include the following:
Based on material, the Expanded Polystyrene(EPS) segment held the largest for the insulated shippers market share during 2020, due to its application in frozen foods
EPS has a low heat conductivity, minimal moisture absorption, and good cushioning qualities. The relatively low maximum working temperature of polystyrene foam (80°C) is one of its major drawbacks. It's also chemically resistant, bacteria-resistant, and is less costly. When packed in EPS, fruits and vegetables retain their vitamin C content longer than food packaging in other materials. Additionally, it is also used in building & construction, industrial packaging, and especially moulded eps in Sports helmets, Infant car seats, chairs, seating in sports cars, load bearing structurally insulated panels etc.
Based on the applications, the chilled segment accounted for the largest market share in the overall insulated shippers market size owing to applications in pharmaceutical & frozen food industry
Its advantages include medicines and medications are transported., prevent the growth of microorganisms, ascertain the storage's long-term viability (long-term storage), Short-distance transport of products that need a low temperature, transporting products in the absence of a readily available power source, when no refrigeration is required, maintain a constant temperature and avoid drastic temperature fluctuations. Every year, more than 200 million containers containing both durable and non-durable items are sent throughout the world. Food, for example, requires specific containers to prevent it from decaying or spoiling. Insulated containers provide the necessary temperatures and protection for these items to be sent without disrupting the cold chain.
Based on the end-user industry, the food & beverages accounted for the largest market share in the overall insulated shippers market size owing to current pandemic situation
Over the projection period, the food & beverages segment is anticipated to maintain its dominant position in the insulated shippers market. The rapid expansion of retail chains, particularly supermarkets, has contributed to a rise in the use of insulated shipping containers across the world. In this regard, growing frozen food consumption, such as cheese and meat, has aided the expansion of the market through home delivery services. For instance, the global frozen food industry is expected to reach a value of USD 350 billion till 2027 from 250 billion in 2018.
Based on regions, the insulated shippers market in Asia-Pacific accounted for the largest share in 2020 owing to extensive technological advancements, urbanization and increasing buying power in this region has poised to support insulated shippers market growth
Geographically, Asia-Pacific is estimated to dominate the insulated shippers market in forecast period. The region includes China & India, the two major food item exporting countries. For instance, the biggest number of organic producers are concentrated in India; key nations importing organic food from India include the United States, Canada, Switzerland, and Israel; the Indian organic food industry is growing at a rate of ~20%–30% annually. Moreover, China surpassed the global container production through its Big 3 companies, that include China International Marine Containers (CIMC) produced 580,000 twenty-foot equivalent units (TEUs), accounting for ~42% of the insulated shippers sector; Dong Fang International Containers produced 358,000 TEUs (26%); and the CXIC Group produced 200,000 TEUs (14 % ). In the-year 2020, when 3.1 million TEUs were produced.
The report also provides an in-depth analysis of Insulated Shippers Market dynamics such as drivers, restraints opportunities and challenges
Note: Challenges along with in-depth market dynamics analysis is mentioned in the report.
The outbreak of novel coronavirus has majorly affected the insulated shippers market. As the COVID-19 outbreak has forced people to shift form actual interactions to connect over virtual platforms. The demand for home deliveries for pharmaceutical has increased. However, the trade between countries for food & other products was slowed sown during this pandemic.. For instance, for the vaccine delivery, the “Cold & Co”., offered the Diagnocase range, and Carry Temp range for the transportation of covid-19 vaccines. The Diagnocase and CarryTemp boxes, when used in conjunction with a refrigerant, ensure a cold chain throughout a wide temperature range, including -80°C with dry ice, -20°C, 0°C, +2°C/+8°C, and up to +25°C with eutectic plates, allowing thermo-sensitive medicines to be stored for several days.
The report also provides in-depth analysis of key trends in insulated shippers market
The report also provides an in-depth analysis of recent news developments and investments
Company Profiles and Competitive Intelligence
The key players operating in the insulated shippers market are:
Priyanka has been writing chemicals & material market research reports for the last 12 years. A post-graduate, her specialization is in the chemicals sector. Preparing end-to-end reports covering minute details for market insights, competitive intelligence and trend analysis in the CMFE sector.