Insulated Shipping Boxes Market: Overview
The rising utilization of protective packaging and transportation is expected to push the demand for insulated shipping boxes across the globe. There are various heat sensitive products in multiple industries such as food, pharmaceuticals, biotechnology and others which needs temperature controlled environment. Therefore most of the companies depend on the insulated shipping boxes for safe and secured transportation of their products. Insulated shipping boxes are suitable to overcome extreme temperature variations, i.e., neither too high nor too low. Insulated shipping boxes are appropriate solutions to maintain critical temperature conditions for heat sensitive products. Insulated shipping boxes are made up of expanded polystyrene (EPS), extruded polystyrene (XPS), and polyurethane, sometimes placed in a corrugated box. They are available in various sizes and specifications. The outlook for the global insulated shipping boxes is expected to be positive during the forecast period.
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Insulated Shipping Boxes Market: Dynamics
The global insulated shipping boxes market is expected to expand owing to the rising demand for temperature sensitive products. The growing consumption of perishable food products, temperature-sensitive chemicals, pharmaceutical goods, and laboratory products among others are expected to drive the demand for the insulated shipping boxes during the forecast period. Exposure to extreme temperature and climatic conditions is expected to propel the need for the insulated shipping boxes in the market. The increasing demand for protective packaging pushes manufacturers to implement the use of cold chain shipping and controlled distribution system. Compact sizes of insulated shipping boxes allow easy storage and thus freeing warehouse space. Also, these boxes can be custom printed and can be manufactured as per the customers’ requirement. Unlike refrigerated containers which require electricity to maintain a constant temperature, whereas insulated shipping boxes depend on their insulating characteristics. They save electricity expenses. Besides, insulated shipping boxes are used for the short distance transportation of pre-cooked food and frozen products. These factors are expected to drive the demand for insulated shipping boxes during the next decade. The higher cost of insulated shipping boxes and availability of flexible insulated packaging solutions can hamper the growth prospects of the global insulated shipping boxes market during the forecast period. Overall the market is expected to witness lucrative growth opportunities during the next decade.
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Insulated Shipping Boxes Market: Segmentation
Globally, the insulated shipping boxes market has been segmented on the basis of material type, capacity, sales channel, end use and region:
On the basis of material type, the global insulated shipping boxes market has been segmented as:
- Extended Polystyrene (EPS)
- Extruded Polystyrene (XPS)
On the basis of capacity, the global insulated shipping boxes market has been segmented as:
- Up to 5 ltr
- 5 ltr – 10 ltr
- 10 ltr – 15 ltr
- Above 15 ltr
On the basis of sales channel, the global insulated shipping boxes market has been segmented as:
- Specialty/Departmental Stores
On the basis of end use, the global insulated shipping boxes market has been segmented as:
- Food & Beverages
The demand for insulated shipping boxes is expected to be high in regions with emerging economies such as Asia Pacific with countries such as China and India. It is attributed to the growing industrialization and high growth in pharmaceuticals market. The U.S. is home to some of the global players of pharmaceutical, food and chemical sectors. Also, rising export of pharmaceutical products from the U.S. to other countries is expected to drive the growth of the insulated shipping boxes market during the forecast period. Similar trends are followed by European countries including Germany, France, the U.K. and others for transportation of products and goods. MEA region is expected to witness average growth in the insulated shipping boxes market.
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Insulated Shipping Boxes Market: Key Players
Some of the leading players operating in the global insulated shipping boxes market are:
- Harwal Group
- Sonoco Products Company
- Drew Foam Companies Inc.
- Marko Foam Products
- Topa Thermal
- Sofrigam SA
- Radwa Corporation
- COOL Sarl
- Creopack Packaging Intelligence