Isothermal Bags & Containers Market
Isothermal Bags & Containers Market - Global Industry Assessment & Forecast
- By Product Type Bags, Containers, Others
- By Material Type Polyvinyl Chloride (PVC), Polyethylene Terephthalate (PET), Polypropylene (PP), Polystyrene (PS), Polyurethane (PU), Others
- By Application Pharmaceuticals, Food, Chemical, Others
- By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
|Forecast Years:||2021 - 2028|
|Historical Years:||2016 - 2020|
|Revenue 2021:||USD 762.9 Million|
|Revenue 2028:||USD 1045.9 Million|
|Revenue CAGR (2021 - 2028):||5.4%|
|Fastest Growing Region (2021 - 2028)||Asia Pacific|
|Largest Region (2021):||North America|
- Cross-segment Market Size and Analysis for Mentioned Segments
- Additional Company Profiles (Upto 5 With No Cost)
- Additional Countries (Apart From Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
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The Global Isothermal Bags & Containers Market is valued at USD 762.9 Million in the year 2021 and is projected to reach a value of USD 1045.9 Million by the year 2028. The Global Market is expected to grow exhibiting a Compound Annual Growth Rate (CAGR) of 5.4% over the forecast period.
Isothermal Bags & Containers Market Size, 2021 To 2028 (USD Million)
Isothermal Bags & Containers are those that can keep the same temperature for an extended period of time. It is used to transport temperature-sensitive goods such as agricultural products, medicines, and other temperature-sensitive items without jeopardizing the cold chain. Global trade in goods and commodities is increasing, which is one of the key factors driving market revenue growth. The demand for efficient packaging solutions to ensure safe transportation is expected to increase.
The rising prevalence of bleeding disorders, the introduction of new medications, and the growing number of cases requiring anticoagulant therapy are all expected to drive market growth over the forecast period. Rising imports and exports between countries, developing food and pharmaceutical industries worldwide, and rising demand for safe and secure goods transportation are all expected to contribute to the market's favorable growth. The global Isothermal Bags & Containers Market is being propelled forward by rapid industrialization in both developing and developed countries, as well as increased trade between neighboring countries.
Furthermore, many advantages provided by Isothermal Bags & Containers, such as the ability to keep things fresh and maintain a cold chain throughout transit, are driving demand from the agricultural and beverage industries, which is expected to aid market growth to some extent. As R&D in the field of biotechnology has increased, so has the demand for adequate cold chain solutions to transport biological samples such as blood plasma and serum. The global Isothermal Bags & Containers Market is expected to grow significantly during the forecast period due to advancements in the pharmaceutical and food & beverage industries.
Consumer preferences are shifting, and they now desire fresh food that is ready to consume. In the foreseeable term, this, together with changing living conditions and adopting a hectic schedule, is increasing market demand. The world's population is increasing, resulting in increased food consumption. The market for fresh food packaging to restore the freshness of rapidly produced poultry and meat products from animal farms is predicted to expand in the forecast period, especially among meat eaters and flexitarians.
The Isothermal Bags & Containers Market is segmented on the basis of Product Type, Material Type and Application. On the basis of Product Type, the market is segmented into Bags, Containers and Others. On the basis of Material Type, the market is segmented into Polyvinyl Chloride (PVC), Polyethylene Terephthalate (PET), Polypropylene (PP), Polystyrene (PS), Polyurethane (PU) and Others. On the basis of Application, the market is segmented into Pharmaceuticals, Food, Chemical and Others.
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Based on Product Type-
Containers dominated the market due to their relatively higher mechanical strength. They are primarily used in long-distance logistics that require secure packaging for extended periods of time. Bags are expected to grow at a faster CAGR and to account for a sizable market share during the forecast period. The flexibility and lightweight characteristics of these products reduce transportation costs, which is expected to drive demand in the coming years.
Based on Material Type-
Polyurethane (PU) is the most commonly used material type because it keeps packaged products at a constant temperature for a longer period of time. Expanded polyurethane bags and containers have a high thermal conductivity and mechanical strength. They can provide temperature control for up to 144 hours. Polystyrene contains no chlorofluorocarbons and is highly recyclable. These properties are expected to increase demand.
North America Region Dominates the Isothermal Bags & Containers Market with the Largest Share
North America acquires the largest market share with a share of 39.10%. North America has a larger market share in terms of revenue due to the continued growth of the pharmaceutical and food industries. Rising trade is likely to boost regional product demand even more in the future years. The food and pharmaceutical industries, as well as the regional trade in perishable goods, are all growing. The demand for adequate cold chain solutions to transport biological samples such as blood plasma and serum has increased as research and development in the field of biotechnology has increased. The demand for effective packaging solutions to ensure safe transportation is expected to increase. In the next years, increased trade is expected to stimulate regional product demand.
Key players operating in the Global Isothermal Bags & Containers Market include- Sonoco Products Company, Cryopak Europe, Pelican BioThermal, Cold & Co, ACH Foam Technologies Inc., Saeplast, AccsA’tech, Insulated Products Corporation, TKT GmbH, Snyder Industries, Envirotainer AB and others.
Segmentation of Isothermal Bags & Containers Market:
|Regions & Countries Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|
Frequently Asked Question
What is the global demand for Isothermal Bags & Containers in terms of revenue?
The global Isothermal Bags & Containers valued at in 2020 and is expected to reach in 2028 growing at a CAGR of 5.4%.
Which are the prominent players in the market?
The prominent players in the market are Sonoco Products Company, Cryopak Europe, Pelican BioThermal, Cold & Co, ACH Foam Technologies Inc., Saeplast, AccsA’tech, Insulated Products Corporation, TKT GmbH, Snyder Industries, Envirotainer AB.
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of 5.4% between 2021 and 2028.
What are the driving factors fueling the growth of the market.
The driving factors of the Isothermal Bags & Containers include
- Rising need for safe transportation via effective packaging solutions
Which region accounted for the largest share in the market?
North America was the leading regional segment of the Isothermal Bags & Containers in 2020.