[150+ Pages Report] The temperature controlled packaging solutions market size in terms of value is projected to reach $ 20.1 billion by 2027, at a CAGR of 9.47% between 2020 and 2027, according to a 2021 study by Precedence Research, the Canada based market insight company.
The study provides the overall revenue of the global temperature controlled packaging solutions market from 2016 to 2027, considering 2020 as the base year and 2027 as the forecast year.
The global temperature controlled packaging solutions market research report gives a brief summary of definitions, size analysis, and place of production, sales, applications, types, and major players/key vendors of the temperature controlled packaging solutions industry. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post-COVID-19 marketplace. This research study also integrates Industry Chain analysis and Porter’s Five Forces Analysis. Further, this report offers a competitive scenario that comprises collaborations, market concentration rate and expansions, mergers & acquisitions undertaken by companies.
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- North America showed prominent growth in the global temperature controlled packaging solutions market in 2019 because of being a prior adopter of advanced technologies.
- The Asia Pacific being the largest market for consumer electronics exhibits rapid growth rate over the forthcoming years
- Insulated shippers the global market accounting for more than half of the total market value in 2019 and expected to grow at the fastest rate over the forthcoming years
- Food & Beverages application have gained significant importance over the past few years owing to their increasing demand and opportunity in ready to eat food.
- North America region is expected to gain major share among all region. China expected to generate maximum revenue in 2019 in Asia-Pacific temperature-controlled packaging solutions market.
Report Scope of the Temperature Controlled Packaging Solutions Market
|Market Size||USD 20.1 Billion by 2027|
|Growth Rate||CAGR of 9.47% from 2021 to 2027|
|Largest Market||North America|
|Fastest Growing Market||Asia Pacific|
|Forecast Period||2021 to 2027|
|Segments Covered||Product Type, Application Type, Region Type|
|Companies Mentioned||Sonoco Products Company, Cryopak Industries Inc, DHL International GmbH, DGP Intelsius, Cold Chain Technologies, Inc., Envirotainer AB, Softbox Systems Ltd, AmerisourceBergen Corporation, Inmark Temperature Controlled Packaging|
Stringent rules & regulations formulated by government agencies
- Stringent government regulations associated with the usage of specific types of pharmaceutical products for production of temperature-controlled packaging solution is major factor expected to limit growth of the global temperature-controlled packaging solutions market over the forecast time frame.
- Additionally, many safety measures are essential to maintain during packaging of pharmaceutical product like the container should be clean, dry etc. These factors are predictable to limit the market growth of temperature-controlled packaging solutions for pharmaceuticals. Moreover, certain precautions need to be maintained during the packaging of pharmaceutical products, such as clean and dry containers, etc.
- It is expected that the above factors will limit the market growth of temperature-controlled packaging solutions for pharmaceuticals. In the pharmaceutical industry, the high investment and maintenance costs associated with the temperature-controlled pharmaceutical packaging solution are expected to inhibit market growth over the forecast period.
- Lack of understanding of the advantages of temperature-controlled pharmaceutical packaging solutions, as only a few companies in the industry are using temperature-controlled pharmaceutical packaging solutions, is expected to hamper market growth over the forecast period.
The global temperature-controlled packaging solutions market is segmented into product type, application, and region. Based on form, it is graded into active and passive. It is bifurcated into isolated containers and isolated shippers depending on the commodity. It is classified into healthcare, food & drink, and others by end users. Because of packaging that preserves the condition and nutritional value of food & beverages under severe conditions for later use, the food & beverage industry dominated the market for temperature-controlled packaging solutions. The demand for temperature-controlled packaging solutions in North America, Europe , China, India, Japan, South East Asia, and Central and South America. Growing demand for fresh and frozen foods, combined with increasing use in the pharmaceutical industry, is expected to fuel market growth in the future. In addition, the rapid global growth of the cold-chain industry is expected to have a positive effect on business growth.
Further, rising consumer health awareness has fuelled the worldwide market for fresh fruits and vegetables. China and South Africa have seen rapid increases in fresh food over the past few years. As a result, grocery stores, including supermarkets, hypermarkets and convenience stores, have increased their investment in advanced fruit and vegetable packaging technology.
Additionally, the demand for frozen foods around the world has been boosted by evolving lifestyles and busy schedules. Owing to time constraints, customer tastes are moving towards ready to eat meals. For their shipping, these frozen and ready to cook foods need a particular temperature. Therefore, it is expected that a favorable trend in the consumption of frozen foods would benefit the scope of temperature-controlled packaging. The countries with a strong demand for frozen food are the U.S., China, India and the Philippines.
Growing focus of pharmaceutical manufacturer to produce drugs and therapies for rare diseases
Growing focus of pharmaceutical manufacturers on producing drugs and therapies for rare disease is expected to create lucrative growth opportunities in the global market. Key layers operating in the pharmaceutical industry are investing hugely on the research and development of vaccines for the rare diseases including blood diseases. Increasing government initiatives and rising support encouraging companies worldwide to develop orphan drugs for the rare diseases.
Food and Drug Administration has approved numbers of such drugs for rare diseases in last few years. These orphan drugs are formulated by the ingredients of high value and with the short shelf lives. This results into high requirement of the stringent temperature-controlled atmosphere and thereby this is predictable to raise the ultra-low temperature range packaging solutions and fuelling target industry growth.
Further, outbreak of COVID-19 across the globe has led to increase the research and development of vaccines for the treatment of COVID-19 and thereby boosting growth of the temperature-controlled packaging solutions across the word. Also, distribution range is expanding at rapid pace worldwide, in order to transfer the target products from different climatic zones. Most of the local as well as international players are increasing their global connections and focusing on shipping their products regularly to the end-users. Further, upraised demand for cold chain packaging system is expected to fuel industry growth in the near future.
Acceptance of novel great performance convection systems that are efficient for warehousing as well as supply of healthcare products is predictable to offer huge potential opportunities for the vendors in the global industry across the globe. Moreover, increased adoption of thermal controlled solutions that are used to enhance the shelf life is expected to support growth of the industry. For, instance, demand for the vacuum panel insulation with phase change materials can enhance the shelf life of stored pharmaceutical product hence increasing adoption of such advanced technologies in the pharmaceutical industry is anticipated to fuel the market growth.
Top Players Contending in the Market:
The key companies are aiming towards advanced innovations and are predictable to dominate the target market. Foremost players inspiring in the global temperature controlled packaging solutions market are as follows:
- Sonoco Products Company
- Cryopak Industries Inc
- DHL International GmbH
- DGP Intelsius
- Cold Chain Technologies, Inc.
- Envirotainer AB
- Softbox Systems Ltd
- AmerisourceBergen Corporation
- Inmark Temperature Controlled Packaging
- APEX Packaging Corporation
- OMEGA Engineering
- Olympus Corporation
- WIKA Alexander Wiegand SE & Co. KG
- Insulated container
- Insulated shipper
- Food & beverage
- North America (U.S. and Canada)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
- Latin America (Brazil and Rest of Latin America)
- Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)
Some of the key highlights of the report are:
- Market Demand Outlook – The report offers refined forecasts on potential growth prospects for the market. Based on data derived after thorough research by a team of expert analysis, Precedence Research presents the most precise rate of growth for the market for the assessment period starting from 2021 – 2030.
- Supply Chain Analysis – The purpose of the survey is to help companies identify potential scope for supply chain expansion. The study also presents analysis of unprecedented threats.
- Competitive Landscape Analysis – Some of the leading companies operating in the temperature controlled packaging solutions market are profiled in the market study. The report also underscores winning strategies adopted over the last few years and gauges impact of the same on growth trajectory exhibited by the market over the last few years.
Why should you invest in this report?
If you are aiming to enter the global temperature controlled packaging solutions market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for temperature controlled packaging solutions are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2020-2027 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
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