Thermal Insulated Boxes Market Size, Share, Growth, and Industry Growth by Type (EPS, Polyurethane (PU), PPE, PVC, Paper, and Others) By Application (Food, Agro-product, Healthcare, Pharmaceuticals, Meal Delivery, Chemicals, 3PL, and Others) Regional Forecast To 2031

Updated On: 08 April 2024

Thermal Insulated Boxes Market Report Overview

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The global thermal insulated boxes market size was USD 51.743 billion in 2021. As per our research, the market is projected to touch USD 201.182 billion in 2031, exhibiting a CAGR of 14.19% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with thermal insulated boxes experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Thermally insulated boxes are advanced packaging solutions. It offers ordinary packing into a thermal box by restricting the flow of heat across the liner. The boxes are economical and effective solutions for cold storage & transport purpose attracting consumers.

The major factors driving the market growth are the rise in the need for organic vegetables and fruits, the huge demand to maintain freshness during transportation, and the large production of foods & vegetables globally. Increased demand for pharmaceutical products and a high need for insulted shippers are predicted to surge market growth. The rise in the prevalence of chronic diseases and the growing need for pharmaceutical products such as temperature-sensitive drugs, blood, and vaccines, are usually transported in insulated shippers These factors are estimated to drive market growth in the upcoming years. Increased R&D activities and a huge number of market players are predicted to drive market progress. The packing solution is a flexible packing solution and requires less space which is anticipated to expand market growth. On the contrary, the high cost associated with packing solutions is estimated to limit market growth in the forthcoming years.

COVID-19 Impact: Halt in Retail Distribution to Limit Market Growth

The outbreak of the COVID-19 pandemic at the beginning of 2020 affected several businesses. The market witnessed a disrupted supply chain, a halt in retail distribution, and a lack of product demand. These factors during the pandemic disturb market growth. However, the market remained unaffected due to increased demand for packing in the medical & healthcare sector. Most of the vaccines and COVID-19 medicines are temperature sensitive and the vaccines were shipped through thermally insulated packing. Further, huge demand to transport essential products such as groceries, fish, seafood, meat, and biologicals adopted the packing solution which accelerates the market growth. 

LATEST TRENDS

"Increased Need for Advanced and Effective Packing Solutions to Foster Market Growth "

Increasing demand for effective and advanced packing solutions is anticipated to fuel market growth. The rise in the prevalence of chronic diseases and the growing need for pharmaceutical products such as temperature-sensitive drugs, blood, and vaccines, are usually transported in insulated shippers These factors are estimated to drive market growth in the upcoming years. Increased R&D activities and a huge number of market players are predicted to drive market progress. The packing solution is a flexible packing solution and requires less space which is anticipated to expand thermal insulated boxes market growth.

Thermal Insulated Boxes Market Segmentation

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• By Type

Based on type, the market is divided into EPS, Polyurethane (PU), PPE, PVC, Paper, and Others.

Polyurethane (PU) is expected to be the top part of the segmentation type.

• By Application

Based on the application, the market is divided into food, agro-product, healthcare, pharmaceuticals, meal delivery, chemicals, 3pl, and others.

Healthcare is expected to be the top part of application segmentation.

DRIVING FACTORS

"Increased Consumption of Frozen Food Products to Fuel Market Growth"

The increasing need for frozen foods and the rise in consumption of frozen foods is estimated to fuel market growth. The high adoption rate of frozen food products such as meat, cheese, and fish is estimated to drive market growth. Huge demand for advanced and fresh packing in the food & beverage sector is estimated to fuel market growth. Further, high demand for ideal packing in several products such as cakes, laboratory samples, medicine, blood, cakes, breast milk, and cosmetics. These broad usages of the product are anticipated to fuel market growth.

"Several Benefits of the Packing Boxes to Stimulate Market Growth "

The boxes offer several benefits as shipping of temperature-sensitive products, and fragile products such as wine, electronic equipment, chemicals, and pharmaceuticals products. Further, it offers a broad spectrum of printing options comprising matt lamination, embossing, glossy lamination, varnishing, and UV coating. These features of the shipping product are estimated to drive market growth in the forthcoming years.

RESTRAINING FACTORS

"High Cost Associated with Packing Solutions to Harm Market Growth"

The high cost associated with packing solutions is estimated to limit market growth in the forthcoming years.

Thermal Insulated Boxes Market Regional Insights

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"Rise in the need for Organic Fruits & Vegetables in Asia Pacific to Drive Market Share  "

Asia Pacific is estimated to account for the highest thermal insulated boxes market share owing to the rise in the need for organic vegetables and fruits, the huge demand to maintain freshness during transportation, and the large production of foods & vegetables globally. Increased demand for pharmaceutical products and a high need for insulted shippers are predicted to surge market growth. The rise in the prevalence of chronic diseases and the growing need for pharmaceutical products such as temperature-sensitive drugs, blood, and vaccines, are usually transported in insulated shippers These factors are estimated to drive market growth in the upcoming years.  

KEY INDUSTRY PLAYERS

"Leading Players Adopt New Strategies to Stay Competitive"

The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• Cellofoam (U.S.)
• Polar Tech (U.S.)
• Cryopak (U.S.)
• Cold Chain Technologies (U.S.)
• Shang Hai SCC Environmental Technology (China)
• delta T (U.S.)
• Styropack (U.K.)
• Tempack (Barcelona)
• Sonoco Thermo Safe (U.S.)
• Nordic Cold Chain Solutions (U.S.)
• Promens (Iceland)
• Emball`Infor (France)
• Fresh cold (U.S.)
• Thermohauser (Germany)
• Atlas Molded Products (U.S.)
• Frisbee global (U.S.)
• Allwin Roto Plast (India)
• Pelican BioThermal (U.S.)
• Therapak (Avantor) (U.S.)
• CLEAN GAS (Germany)
• Dryce (Italy)
• FHEFON (U.K.)
• Fujian Super Tech Advanced Material (China)
• Eutecma (Germany)
• ECOCOOL (Germany)
• Magna Manufacturing (Canada)
• Sorbafreeze (U.K.)
• ICEE Containers (Australia)
• Smurfit Kappa (Ireland)
• Sofrigam (France)
• Krautz-TEMAX (Belgium)
• Abbe Corrugated (Australia)
• Intelsius (U.K.)
• FEURER Group (Germany)

REPORT COVERAGE

This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.