The global Insulated Shippers Market size is anticipated to reach USD 8.8 billion by 2025,
accelerating at a CAGR of 7.2% over the forecast period, according to a new
report by Grand View Research, Inc. The product is expected to witness
significant demand in the coming years on account of its growing use in various
end-use industries such as food & beverages and pharmaceuticals.
The penetration of the Internet has increased
significantly globally over the past few years and led to the availability of
groceries online. In order to deliver fresh produce or temperature-sensitive
food products, online grocery stores majorly prefer insulated packaging to
prevent the deterioration of fresh produce by maintaining the desired
temperature. Therefore, on account of ever-increasing online groceries, home
delivery end-use segment is anticipated to experience the highest growth rate
in the coming years.
The unavailability of adequate refrigerated
logistics, most notably in remote areas, is responsible for drug damage.
Moreover, it is not an economical option to invest in large cold chain
solutions in such areas. Thus, insulated shippers offer ideal solution in such
cases as they help maintain the required temperature at minimal expenditure.
Paper-based insulated shippers emerged as the
largest segment in 2018, grabbing a market share of 26.0%. The segment is
expected to gain momentum over the forecast period owing to the furtherance of
cellulose insulation production technology. In this respect, insulated shippers
industry is witnessing an increasing adoption of fiberization technology
through which product manufacturers can maximize the function of fiber
separation. Research & development activities are likely to surface in the
industry over the forecast period with prominent market players keen on global
expansion.
Grocery is among the most significant end-use
segments in the market for insulated packaging given its growth over the years
and is expected to grow at a consistent CAGR of 7.2% over the forecast period.
The anticipated growth of the segment is attributable to the increasing
consumption of grocery products paired with the mushrooming growth of retail
chains, most notably supermarket & hypermarket chains, in emerging
economies. The segment includes the packaging and shipping of a wide range of
products including bakery products, sauces, milk, and purees, among others.
Central & South America market for insulated
shippers is expected to grow at the fastest CAGR of 8.7% over the forecast
period. The demand for online groceries is significantly higher in Central
& South America compared to other regions, which, in turn, has been
augmenting the demand for insulated shippers in the region. Furthermore,
factors such as strong demand from end-use industries and expanding online
grocery platforms in the region are anticipated to positively influence the
growth of insulated shippers market. In Asia Pacific, several key companies,
most notably in the food manufacturing space in Europe and North America have
been outsourcing production activities to India and China owing to the lower
production cost in these countries.
Request a sample copy or view summary of this
report @ https://www.grandviewresearch.com/industry-analysis/insulated-shippers-market
Further key findings from the
report suggest:
- In terms of material, Expanded Polypropylene (EPP) shippers
segment is expected to ascend at a remarkable CAGR of 9.4% over the
forecast period
- In terms of type, multiple-use segment was valued at USD 2,004.2
million in 2018 and is expected to grow at the highest CAGR over the
forecast period
- Home delivery was the largest end-use segment in 2018 and grabbed
a market share of 35.3% in 2018, which is expected to reach 39.7% by 2025
- Asia Pacific was the largest regional market for insulated
shippers in 2018
- The market is characterized by intense competition with both
international and domestic participants sharing the market space and
product innovation being observed as the key strategy deployed by various
industry participants to stay competitive in the market
- Sonoco Products Company, which offers a wide range of products
ranging from cargo insulating solutions to insulated bags and shippers,
emerged as a market leader in the public companies category of the
insulated packaging market.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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Grand View Research, Inc
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