The global temperature controlled packaging solutions market is all set to witness a staggering CAGR of 8.1% between 2022 and 2030. It is estimated to reach US$ 23.2 Bn by the year 2030.
The overall outlook for the temperature controlled packaging solutions market is expected to remain positive. The market is projected to register a CAGR of 8.1% through 2030 to reach US$ 23.2 Bn by the end of the forecast period. Rising consumption of frozen food/fruits translates into increased sales of insulated containers, thus boosting revenues of players in the global temperature controlled packaging solutions market.
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Key Takeaways of Temperature Controlled Packaging Solutions Market Study
Food & Beverages industry holds a majority of the market share in the global temperature controlled packaging solutions market, closely followed by the healthcare industry.
The high demand from this industry is mainly driven by the rising consumption of perishable food products, which require insulated containers/bins coupled with a refrigerant for proper transportation.
The chilled segment is projected to retain its prominent position and account for nearly 43% of the global temperature controlled packaging solutions market by 2030. This is attributable to the growing need for efficient temperature controlled shipping solutions for pharmaceuticals as well as food products.
Passive temperature controlled packaging solutions are largely preferred over their active counterparts, as passive solutions are relatively economical, easy to handle, and dispose.
The insulated containers segment has been identified as the most lucrative segment in the global temperature controlled packaging solutions market. This can primarily be attributed to the increasing consumption of meat, fish, seafood, and other perishable products, globally.
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South Asia and East Asia are estimated to cumulatively hold more than 30% of the share in the global temperature controlled packaging solutions market by 2030. The demand for insulated shippers for cold chain packaging is likely to remain moderate in the region, while that for packaging of perishable foods is likely to remain strong in the foreseeable future.
Leading pharmaceutical manufacturers demand effective packaging formats for biologics and specialty drugs, as such products are extremely temperature-sensitive and any compromise in handling them can significantly affect product efficiency. This is expected to present remunerative growth potential for all participants of the supply chain in the global temperature controlled packaging solutions market.
Temperature Controlled Packaging Solutions Market Landscape
- Sonoco Products Company
- Pelican BioThermal LLC
- Snyder Industries Inc.
- GEBHARDT Logistic Solutions GmbH
- ACH Foam Technologies
These companies are also introducing rental programs to provide temperature controlled packaging solutions at a lower cost as compared to their competitors. Various food and pharma companies opt for leasing or renting temperature controlled shippers/containers as per their requirements.
This is profitable for the manufacturers of temperature controlled packaging solutions, as shipper/container manufacturers achieve reduced cost of ownership and increased return on investment, hence higher profits.
What Propels The Growth Of Temperature Controlled Packaging Solutions Market?
“Growing Demand for Biologics to Propel the Growth”
Demand for biologics is anticipated to outpace overall pharmaceutical spending growth, and biologics are expected to represent 20% of the total expenditure of the industry in the foreseeable future. This unprecedented shift towards structurally-complex biotechnology drugs that require continuous temperature control plays a substantial part in the raising the demand for temperature-controlled packaging solutions across the globe.
Introduction to novel therapies such as stem cells, monoclonal antibodies, and r-proteins has made the use of temperature controlled packaging solutions necessary.
Key Segments Covered In Temperature Controlled Packaging Solutions Industry Research
By System Type :
By Product Type :
- Insulated Shippers
- Panels & Envelopes
- EPS Shippers
- PUR Shippers
- VIP Shippers
- Insulated Containers
- Chest Style
- Upright Style
By Application :
By End-use :
- Food & Beverages
Table of Content
1.1. Global Market Outlook
1.2. Regional Market Outlook
1.3. Analysis and Recommendations
2. Market Overview
2.1. Market Taxonomy
2.2. Market Definition
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Development Trends
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