September 23, 2021
Temperature Controlled Packaging Solutions

Temperature Controlled Packaging Solutions Market Size, Share, Growth, Trends and Forecasts 2020-2027

Precedence Research has published a new report titled Temperature Controlled Packaging Solutions Market Size By Product (Insulated container, Insulated shipper), By Application (Food & beverage, Healthcare, Others), By Region – Global Industry Analysis, Trends, Segment Forecasts, Regional Outlook 2020 – 2027″, the global temperature controlled packaging solutions market size is expected to grow US$ 20.1 Billion by 2027, decelerating at a CAGR of over 9.47% from 2020 to 2027. The report contains 150+ pages with detailed analysis.

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. The report 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.

Market Estimations:

Market Was Valued In 2019 US$ 9.78 Billion
Market Is Projected To Grow By 2027 US$ 20.1 Billion
Compound Annual Growth Rate (CAGR) 9.47 percent from 2020 to 2027

Insulated container temperature-controlled packaging solutions are commonly used because they allow any size of temperature-sensitive shipment to be transported. The Insulated shipper temperature-controlled packaging solution enables lower-cost bulk shipping. In the global temperature-controlled packaging solutions industry, Insulated container temperature-controlled packaging produced the highest revenue in 2016 and is expected to grow at the fastest rate during the forecasted period due to its reusability and advance technology.

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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.

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.

Report Highlights

  • 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.

COVID-19 Impact on Temperature Controlled Packaging Solutions Market  Market Sales

Businesses today are operating in a dynamic environment. Earlier focus primarily concentrated on keeping pace with changing consumer preferences. COVID-19 outbreak was unprecedented and exposed vulnerabilities of various industries. Pandemic-induces obstacles also were registered in the temperature controlled packaging solutions market.

Sales plummeted as COVID-19 gradually tightened its noose worldwide. Supply-chain disruptions caused massive losses, while demand took nose-dive as consumers remained indoors with affected countries implementing either partial or complete lockdown.

Gradual recovery however is on the cards with the roll out of vaccinations. Nonetheless, consecutive waves of the virus compelled businesses to stay prepared for the worst. As government and healthcare organizations successfully implement steps to contain the spread of COVID-19, industries have begun operations, albeit at a slow and more cautious pace.

Against this backdrop, Precedence Research’s study predicts gradual recovery for the temperature controlled packaging solutions market 2021 onwards. This trend will however continue through the course of the report’s assessment period

Regional Snapshots

North America is the largest temperature controlled packaging solutions market for pharmaceuticals. The market is witnessing high growth on the backdrop of burgeoning demand from healthcare sector. The demand for transportation drugs, vaccines and clinical trials in North America has triggered the temperature controlled packaging solutions growth. North America, especially the U.S. is home to many established players which are engaged in developing technologies and process necessary to develop cold chain system efficiently.

Due to the increasingly rising demand for frozen goods and well developed infrastructure in large urban populations, China is a top market for cold chain production. A rapid transition from a manufacturing and construction-led economy to a consumer-led economy is currently under way in China. In the middle class, rapid growth provides tremendous opportunities. The demand for the use of cold chain storage and transportation systems has increased in cities such as Beijing and Shanghai.

Key Players & Strategies

The Temperature Controlled Packaging Solutions industry is highly opportunistic and competitive in nature because of significant advancements and developments in the product to cater the ever-changing consumer demand.

The players profiled in the report include ACH Foam Technologies, LLC, Amerisource Bergen Corp., Cold Chain Technologies, Inc., Deutsche Post AG (DHL), FedEx Corp., ILLIG Maschinenbau GmbH & Co. KG, KIMO, Olympus Corporation, OMEGA Engineering, Pelican BioThermal LLC, SKF, Sofrigram SA Ltd., Sonoco Products Company, Tempack and Cropak., Testo SE & Co., WIKA Alexander Wieg and SE & Co. KG.

Segments Covered in the Report

By Product

  • Insulated container
  • Insulated shipper

By Application

  • Food & beverage
  • Healthcare
  • Others

By Regional

  • North America
  • Europe
  • China
  • India
  • Japan
  • South East Asia
  • Central and South America

TABLE OF CONTENT

 

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Precedence Research

Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings.

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