Isothermal Bags & Containers Market - Advancement and Product Innovations to Create Opportunities
Isothermal Bags & Containers Market - Global Industry, Size, Share, Growth, Trends and Forecast 2018 - 2026
[UKPRwire, Wed Oct 10 2018] According to a report by Transparency Market Research (TMR), the isothermal bags & containers market is US$ 657.6 Mn in 2017 and is projected to increase at a CAGR of 6.0% during forecast period 2018-2026. The global isothermal bags & containers market has witnessed solid growth during the past few years, owing to growing pharmaceutical and food industries across the globe. The increasing trade for perishable products has given a boost to the isothermal bags & containers market.
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The global isothermal bags & containers market has witnessed impressive growth in the past few years, due to growing trade across the globe. Growing exports and imports between the countries and safe transportation of products has paved the way for isothermal bags & containers market. A number of other factors are expected to drive the isothermal bags & containers market, such as capability of keeping product fresh and maintain cold chain during transit.
Fast growth in organized retail sector, especially in emerging economies, is expected to fuel growth of the isothermal bags & containers market.
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Despite the positive outlook, there are a number of factors that always leave a space for product damage during the transit, ultimately hampering the growth of the isothermal bags and containers market. Nevertheless, increasing R&D in the field of biotechnology has boosted the demand for appropriate cold chain solutions to transport biological samples such as blood plasma, and serum, among others. Therefore, with advancement in the pharmaceutical sector, as well as the food & beverages industry, the global isothermal bags market is anticipated to face lucrative opportunities for growth, during the forecast period.
Globally, by material type, the polyurethane segment is estimated to dominate the market, in 2018, with 32.2% share of the market value. The nylon segment is anticipated to witness rise in market share, with 9.8% market share in 2018, it is estimated to reach 10.2% during the forecast period.
The global isothermal bags & containers market by product type, has been segmented into bags and containers. Among product type, the container segment of isothermal bags & containers dominates the market with 95.3% market share in 2018. Bags segment of isothermal bags & containers market is expected to grow at an impressive CAGR of 6.9% during the forecast period.
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Among the end use segment, the pharmaceutical segment is anticipated to dominate the market, during the forecast period. The global market has been segmented into five regions, i.e. North America, Europe, Asia Pacific region (APAC), Latin America and Middle East & Africa (MEA). The MEA region is projected to register the highest CAGR of 8.1%, during the forecast period.