Global Isothermal Packaging Market 2017-2021
About Isothermal Packaging
Isothermal packaging is an innovative insulated packaging used for the transportation of goods at controlled temperatures. It finds extensive application in the food and pharmaceutical industries as it efficiently preserves the products from thermal and physical shocks. Most pathogens cannot survive at sub-zero temperatures. Therefore, freezing food reduces the chances of microbes invading it. Isothermal packaging is a packaging solution for frozen food and protects the products for long periods, keeping it fit for consumption as per the convenience of the consumer.
Technavio’s analysts forecast the global isothermal packaging market to grow at a CAGR of 5.42% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global isothermal packaging market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Isothermal Packaging Market 2017-2021
Technavio recognizes the following companies as the key players in the global isothermal packaging market: AirContainer Packaging System, InsulTote, Polar Tech, and Sonoco.
Other Prominent Vendors in the market are: American Aerogel, Cold Ice, Davis Core, Exeltainer, IPC Pack, JB Packaging, Marko Foam Products, Providence Packaging, TemperPack, TP Solutions, and WoolCool
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increase in demand from online retail sector. With rapid changes in the consumer lifestyle, the demand for the online retail sector has increased. Online grocery sales are estimated to increase by more than 20% annually through 2018. Therefore, this tremendous increase in online sales will boost the demand for isothermal packaging for delivering fresh goods to the consumers.”
According to the report, one driver in the market is increasing demand from pharma cold chain sector. The demand for isothermal packaging has increased tremendously and is multiplying steadily in the pharmaceutical cold chain sector. Healthcare cold chain logistics finds application in the case of vaccines, biopharmaceuticals, and clinical trials. Additionally, the global healthcare cold chain logistics market was valued at more than $200 million in 2016 and is projected to double by 2022. This significant increase in the growth of the market is due to robust growth in the sales of pharmaceutical products requiring cold chain logistics.
Further, the report states that one challenge in the market is rise in prices of raw material. Rise in the prices of raw materials is one of the major challenges for the isothermal packaging market across the globe. The major raw material used in the manufacture of isothermal packaging is polystyrene. Recently, high volatility of the prices of polystyrene, due to a demand and supply gap, has increased the price of plastic and is expected to continue during the forecast period. In addition, increase in the prices of raw materials affects the manufacturing cost of packaging and results in escalating the overall cost of the product.
AirContainer Packaging System, InsulTote, Polar Tech, Sonoco, American Aerogel, Cold Ice, Davis Core, Exeltainer, IPC Pack, JB Packaging, Marko Foam Products, Providence Packaging, TemperPack, TP Solutions, and WoolCool