Wilmington, Delaware, United States, Feb. 20, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc.- The global isothermal bags & containers market was projected to attain US$ 913.7 million in 2023. It is anticipated to garner a 5.1% CAGR from 2024 to 2032, and the market is likely to attain US$ 1.4 billion by 2032.
Isothermal bags and containers are designed to keep a constant temperature for an extended period of time, making them suitable for keeping temperature-sensitive and perishable commodities in the food, agriculture, pharmaceutical, and other industries.
Insulated bags and bins use a combination of aluminum and plastic materials to maintain temperatures ranging from -80°C to +25°C. These bags safeguard commodities for 2 to 6 days, guaranteeing the integrity of the cold chain. These bags are commonly used in the shipping of perishable goods.
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Key Findings of the Market Report
- Concerns about product waste are driving up demand for isothermal bags and containers.
- Isothermal bags and containers serve an important role in keeping product integrity throughout transit, resulting in less waste and more customer satisfaction.
- The market for isothermal bags and containers is growing due to the increased acceptance of food delivery services.
- The emergence of food delivery services, catering to the convenience culture of the present fast-paced lifestyle, has led to an increase in demand for these services, particularly in cities.
- This rising demand emphasizes the importance of dependable isothermal bags and containers that can successfully maintain the temperature of food during transit.
Global Isothermal Bags & Containers Market: Key Players
Key players are expanding their product range through a variety of business tactics, including partnerships, mergers and acquisitions, new developments, and joint ventures. The following companies are well-known participants in the global isothermal bags & containers market:
- Cryopak Europe
- Sonoco Products Company
- Sofrigam SA Ltd.
- Pelican Biothermal LLC
- va-Q-tec AG
- ACH Foam Technologies, LLC
- Cold & Co Sprl
- Tecnisample s.l.
- Saeplast Americas Inc.
- AccsA'tech Medical Systems
- Tempack Packaging Solutions, S.L.
- Advanced Products Portugal
- Cold Chain Technologies
- Envirotainer Ltd.
- American Aerogel Corporation
- Snyder Industries, Inc.
- Inno Cool India Private Limited
- Insulated Products Corporation
- Exeltainer SL
- TKT GmbH
Key developments by the players in this market are:
- In 2020, Pelican BioThermal, a developer of temperature-controlled packaging solutions, introduced School of Cool, a new online learning platform that will assist customers and distributors in developing competency in temperature-controlled packaging technology. The new training program offers on-demand, self-service training at a time when in-person training is not feasible and demand for temperature-controlled packaging choices is increasing.
- In 2020, Sonoco, a packaging firm, completed the acquisition of Thermoform Engineered Quality, LLC, and Plastique Holdings, LTD., a global maker of thermoformed packaging for the healthcare, medical device, and consumer industries, from ESCO Technologies, Inc. for US$ 187 million.
Market Trends for Isothermal Bags & Containers
- Pharmaceuticals and healthcare products, notably vaccinations and pharmaceuticals, are usually sensitive to temperature changes. It is critical that they remain functional and safe during shipping and storage. This has resulted in a high market demand for isothermal bags and containers, which keep these items within specific temperature ranges.
- The expansion of the distribution network is projected to provide suppliers with new business prospects for isothermal bags and containers. UPS purchased Transports Chabas Santé's healthcare logistics operation in September 2023, expanding its worldwide healthcare network to provide temperature-controlled delivery options for pharmaceutical and healthcare items in Southern France.
- This purchase is intended to improve the company's capacity to offer next-generation pharmaceutical and biologic therapies throughout Europe at the optimal time and temperature.
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Global Market for Isothermal Bags & Containers: Regional Outlook
- North America accounted for the dominant share in 2023 and is predicted to increase at a CAGR of 4.3% from 2024 to 2032.
- The presence of sophisticated and innovative logistical infrastructure is driving market dynamics in the region. The expansion of the food delivery and pharmaceutical sectors is also propelling the growth of the isothermal bags and containers market in North America.
- The need for medical-grade isothermal bags for temperature-sensitive medications is predicted to expand in North America as investment in biomedical research increases. The existence of well-established packaging as well as pharmaceutical businesses has helped the United States and Canada become worldwide leaders in medication discovery and development.
- Cascades announced a growth strategy for the isothermal packaging industry in February 2022, including product distribution and the establishment of a new production plant in Tacoma, Washington. The rise in investment in isothermal packaging is boosting the market share of isothermal bags and containers in North America.
Global Isothermal Bags & Containers Market Segmentation
Product Type
- Containers
- Bags
Material Type
- PVC
- PET
- Polypropylene
- Polystyrene
- Polyurethane
- Nylon
End Use
- Pharmaceuticals
- Drugs
- Vaccines
- Biological Product Samples
- Chemicals
- Food
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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