From the period of 2022 to 2028, the Global Isothermal Bags & Containers Market is expected to reach USD 1045.9 Million in terms of revenue, growing at a Compound Annual Growth Rate (CAGR) of 5.10%.
Due to increased global trade, the global isothermal bags and containers market has grown rapidly in recent years. Growing exports and imports between countries, as well as safe product transportation, have paved the way for the isothermal bags and containers market. Other factors, such as the ability to keep product fresh and maintain cold chain during transit, are expected to drive the Isothermal Bags & Containers Market. The isothermal bags and containers market is expected to grow rapidly due to rapid growth in the organized retail sector, particularly in emerging economies. Some of the factors expected to drive market growth during the forecast period include an increase in the number of bleeding disorders, the introduction of new drugs, and an increase in the number of cases requiring anticoagulant therapies.
Rapid industrialization in developing and developed countries, as well as increased business among neighboring countries, are major factors driving global market growth. Furthermore, rising exports and imports among countries, thriving food and pharmaceutical industries around the world, and increasing demand for secure and safe product transportation are some other key factors that are likely to support market expansion to some extent. Furthermore, various benefits provided by isothermal bags and containers, such as the ability to keep items fresh and maintain a cold chain throughout transit, are amplifying its demand from agriculture and beverage industries, which is expected to support market development to some extent.
Key Highlights from the Report
- The market is divided into three categories based on product type: bags, containers, and others. Because of their higher mechanical strength, containers dominated the market. They are primarily used in long-distance logistics where secure packaging for long periods of time is required. During the forecast period, bags are expected to grow at a faster Compound Annual Growth Rate (CAGR) and account for a sizable market share. These products' flexibility and lightweight characteristics reduce transportation costs, which is expected to drive demand in the coming years.
- The market is divided into pharmaceuticals, food, chemicals, and others based on application. Pharmaceutical is expected to lead in terms of demand because drugs, vaccines, and biological products necessitate temperature-controlled logistics. Isothermal containers and bags prevent drug properties from changing during transport. The pharmaceutical industry is closely followed by the food industry, owing to rising demand for frozen foods and ready-made meals. Rising disposable income, particularly in emerging markets, fuels demand for convenience foods and ready-to-eat and on-the-go meals.
- Asia Pacific is the fastest regional segment in terms of growth. Over the projected period, the Asia Pacific Isothermal Bags & Containers Market is expected to develop at the quickest rate. Due to quick improvements in the packaging sector for new items and the increasing e-commerce region, Asia Pacific has a high market share, particularly in emerging economies such as China and India. Increased demand for medications and vaccines, as well as a desire for comfort foods, are predicted to assist global market growth.
The expanding fresh food packaging industry is fueling market expansion.
Due to increased attempts to reduce food spoilage, whether fresh fruits, vegetables, and dairy goods or fresh meat directly from farms, the fresh food packaging market is expected to grow in the forecast period. This is then transferred to merchants (B2B) or consumers (B2C), and so must be provided fresh, demonstrating the need for food fresh food packaging to extend the shelf life of fresh farm produce after harvest and/or after sale. In addition, effective actions in the form of R&D are being conducted to develop innovative packaging methods for use in the packaging of fresh fruits and vegetables or meat commodities, as well as to address the delayed ripening of these food products. Consumer preferences are changing, and they prefer ready-to-eat fresh food. This, combined with changing living conditions and adopting a busy schedule, is driving market demand in the forecast period. The global population is growing, which is causing an increase in food consumption. For meat eaters or flexitarians, the market for fresh food packaging to restore the freshness of instantly produced poultry and meat products from animal farms is expected to grow in the forecast period.
The demand for safe transportation via effective packing solutions is increasing
One of the primary reasons driving market revenue growth is the increase in global trade in products and commodities. The demand for effective packaging solutions for safe transportation is likely to rise. Over the projected period, the increased prevalence of bleeding disorders, the launch of novel drugs, and the increasing number of cases requiring anticoagulant therapy are all likely to fuel market expansion. Imports and exports between countries are predicted to increase, as are global food and pharmaceutical sectors and demand for safe and secure commodities transit. Rapid industrialization in both developing and developed countries, as well as greater trade between neighboring countries, are propelling the worldwide market forward.
With a market share of 39.10 % in 2021, North America is expected to gain the most market share. Because of the pharmaceutical and food industries' continuous growth, North America has a bigger revenue market share. In the coming years, rising commerce is projected to enhance regional product demand even more. The food and pharmaceutical industries are expanding, as is regional perishable products commerce. As research and development in the field of biotechnology has expanded, so has the demand for sufficient cold chain solutions to transport biological samples such as blood plasma and serum.