Demand for Thermal Insulation Packaging to Rise at 18.3% CAGR in Pharmaceutical Industry: New Study

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Rising applications within the pharmaceutical sector is a chief driver of the thermal insulation packaging market. In a new study, Future Market Insights (FMI) has predicted the market to reach a valuation of US$ 58.37 Bn in 2021. Within the pharmaceutical industry products are often shipped across the globe.

Pharmaceutical logistics is a complex web of local, regional and international chain that requires multiple modes of transportation. Air and ground have been the most preferred modes of transportation, however sea freight is also gaining traction nowadays.

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Specialized production of pharmaceuticals and high value ingredients used for production of medicines mean that the products need to move faster and at a larger scale through multiple climatic zones. Rapid expansion of emerging markets demands new or more efficient shipping lanes. The emergence of new markets have led to the challenge of distribution of temperature sensitive pharmaceuticals to a wide geographical reach.

Shipping of temperature sensitive pharmaceutical products requires protection from improper handling, undesired weather, and any other unpredictable factors all while ensuring a constant temperature range. This is anticipated to drive adoption of thermal insulation packaging within the industry.

Besides this, demand from food and beverages sector is set to rise significantly, giving impetus to the market between 2020 and 2030. FMI has projected the food and beverages sector to remain dominant through the forecast period, however, the pharmaceuticals sector is likely to exhibit growth at a higher rate.

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Key Takeaways of Thermal Insulation Packaging Market Study

  • Thermal insulation packaging is forecast to register high near-term growth. According to FMI, the market will rise at 17.3% CAGR over the assessment period
  • Demand from the U.S. will remain crucial to growth registered, as it is expected to account for dominant 86.6% of the North America market in 2021
  • Within Europe, the U.K. will continue exhibiting high demand, registering above 18% Y-o-Y growth in 2021
  • France and Germany will emerge as other key markets for thermal insulation packaging, with demand in both countries increasing at a robust pace through 2030
  • Japan, South Korea, and China will emerge as strong markets for thermal insulation packaging. Of these, China will remain dominant in East Asia through assessment period

“Pharmaceutical industry is witnessing a massive shift from chemically derived products towards biologics and biosimilars. It is anticipated that new drugs to be launched in the market in the next five to ten years will be highly sensitive biologics or biosimilars. Sophisticated drugs will create and expand cold chain challenges, which is likely to create opportunity for thermal insulation packaging market.” says an FMI analyst.

Thermal Insulation Packaging Necessary to Maintain the Integrity of Perishable Food Products

The thermal insulation packaging system is necessary for maintaining the integrity of the perishable food products. Seafood is in high demand since past few years due to its nutritional benefits and changing dietary habits of consumers. Seafood’s quality is utmost high when it is caught, however over time the quality and freshness of the food product degrade.

This decays the natural goodness, vitamins and minerals of the food product making it unfit for consumption. From the regulatory aspect, fresh seafood should be stored at 0°C and frozen seafood should be stored at –18°C or lesser throughout the cold chain.

Small gaps or fluctuations in the temperature range can cause quality degradation or spoilage to the food product. Food wastage is loss of natural seafood resource and harvesting cost. Global trade of perishable food products has grown rapidly in the last decade. This has significantly boosted demand for refrigerators, freezers, insulated containers and shippers.

For Information On The Research Approach Used In The Report, Request TOC@ https://www.futuremarketinsights.com/toc/rep-gb-12972

Impact of COVID-19 on Thermal Insulation Packaging Market

Demand for thermal insulation packaging is anticipated to grow due to the COVID 19 pandemic. The global battle to fight against the virus has raised the need for crucial pharmaceuticals to be shipped around the world at a large scale and unprecedented speed.

Right from antigen testing to antibody testing to vaccines and medicines to treat the symptoms of the virus, everything creates demand for pharmaceutical logistics for temperature sensitive products.

Insulated shippers, pouches and boxes have been in high demand to ship the products across the world. Further, COVID-19 vaccines being on the horizon ready for mass distribution provides lucrative opportunities for the thermal insulation packaging market to grow exponentially.

Who is Winning?

Emball’ISO, Sonoco ThermoSafe, Pelican Products, Inc., Cold Chain Technologies, Inc., Sofrigam SAS, CSafe Global, LLC, Insulated Products Corporation, Cryopak Industries Inc., Snyder Industries, Inc., va-Q-tec AG, Inmark LLC, DGP Intelsius Ltd.,

Softbox Systems Ltd., Envirotainer Ab, Aeris Dynamics Pte Ltd, Global Cold Chain Solutions, Thermo Fisher Scientific, Inc, Helmer Scientific Inc., Global Cooling, Inc., PHC Holdings Corporation, BINDER GmbH, Esco Micro Pte Ltd., Labcold Ltd, ARCTIKO A/S, Eppendorf AG, So-Low Environmental Equipment Co.,

Azbil Corporation, Haier Biomedical Co. Ltd, Philipp Kirsch GmbH, EVERmed s.r.l and The Sure Chill Company Limited are prominent players in the thermal insulation packaging market. The thermal insulation packaging market is fragmented and the Tier 1 players in the market hold 20-25% share in the global thermal insulation packaging market.


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