Temperature Controlled Packaging Solutions Market to Garner $23.69 Billion by 2030: Says The Brainy Insights

·7 min read
Brainy Insights Pvt. Ltd.
Brainy Insights Pvt. Ltd.

The high adoption rate of temperature packaging in the healthcare enterprise of the U.S. and Canada is expected to contribute to the temperature-controlled packaging solutions market.

Newark, June 27, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global temperature-controlled packaging solutions market is expected to grow from USD 11.67 billion in 2021 to USD 23.69 billion by 2030, at a CAGR of 8.18% during the forecast period 2022-2030.

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The rise in the demand for frozen & fresh food is anticipated to expand demand for the temperature-controlled packaging solutions market during the projection period. Further, the market growth leads to the increased application of temperature-controlled packaging for shipping vaccines, biological, and drug samples in developed economies, including the U.S. and Germany. Also, the increase in product wastage control movements & the emergence of new technology is helping to drive market growth during the forecast period. Moreover, the strict regulations & rules developed by a government agency, high investment & maintenance prices, and customs handling are the restraining factors of the market growth. Furthermore, adopting new high-performance convection methods that are efficient for warehousing and supply of pharmaceutical products are opportunities for market growth.

Competitive Strategy

To enhance their market position in the global temperature controlled packaging solutions market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.

• For example, in February 2020, Pelican BioThermal LLC declared the acquisition of NanoCool LLC. Thus, the company is implicated in the production of temperature-controlled packaging systems.

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Market Growth & Trends

The increasingly complicated drug product biology propels the growth of the temperature-controlled packaging solutions market. The increasing interests in ESG & sustainability compliance aids drive the market growth during the forecast period. Moreover, the growing demand for adequate handling of temperature-sensitive pharmaceutical products is the market growth trend. Additionally, the increasing requirement for better product handling of pharmaceutical products which are temperature susceptible has augmented the adoption of additional progressive temperature-controlled packaging insulation products like VIP, PCMs, and sheep wool VIP. Thus, the insulation-based and PCM-based refrigerants have different benefits over conventional polystyrene (EPS) & polyurethane insulated shippers. Shippers executing VIP are comparatively lightweight and smaller, and they provide more comprehensive temperature ranges, decrease refrigerant needs, and cut distribution expenses, which is anticipated to drive the market growth.

Key Findings

• In 2021, the active type segment dominated the market with the largest market share of 58.14% and market revenue of 6.78 billion.

The type segment is divided into passive and active. In 2021, the active type segment dominated the market with the largest market share of 58.14% and market revenue of 6.78 billion. This growth is attributed to the temperature accuracy of active systems. Moreover, the active systems utilize electric or mechanical processes powered by power sources integrated with thermostatic management to keep accurate product temperatures. This factor is also helping to drive the segment’s growth.

• In 2021, the insulated shipper product segment dominated the market with the largest market share of 32.06% and market revenue of 3.74 billion.

The product segment is divided into refrigerants, insulated containers, protective packaging, and insulated shippers. In 2021, the insulated shipper product segment dominated the market with the largest market share of 32.06% and market revenue of 3.74 billion. The insulated shippers are utilized in different end-use enterprises such as food & beverages and healthcare to ensure the secure transportation of temperature-sensitive products such as drugs, vaccines, food, and blood samples. This factor helps to drive the market segment's growth.

• In 2021, the food & beverage application segment dominated the market with the largest market share of 28.15% and market revenue of 3.28 billion.

The application segment is divided into healthcare, food & beverage, biomedical, pharmaceutical, and others. In 2021, the food & beverage application segment dominated the market with the largest market share of 28.15% and market revenue of 3.28 billion. This growth is attributed to their rising demand and opportunity for ready-to-eat food.

• In 2021, the reusable packaging segment dominated the market with the largest market share of 57.11% and market revenue of 6.66 billion.

The usage type segment is divided into reusable packaging and single-use packaging. In 2021, the reusable packaging segment dominated the market with the largest market share of 57.11% and market revenue of 6.66 billion. This growth is attributed to their ability to reduce packaging waste.

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Regional Segment Analysis of the Temperature Controlled Packaging Solutions Market:

• North America (U.S. Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
• Asia-Pacific (China, Japan India, Rest of APAC)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)

North America occurred as the largest market for the global temperature-controlled packaging solutions market, with a market share of 48.07% and a market value of around 5.60 billion in 2021. North America currently dominates the temperature-controlled packaging solutions market due to the rising demand for the shipment of vaccines across the world. Also, the growth in the need for convenience foods owing to the growing working population is expected to boost the demand for packaging solutions which is also helping to drive the region's market growth. Furthermore, the Asia Pacific region is expected to show the fastest CAGR of 11.04% over the projection period. This growth is attributed to expanding the pharmaceutical and food & beverage enterprises in emerging economies, including India & China. Moreover, increasing population and disposable income will probably help the market's growth during the projection period.

Key players operating in the global temperature controlled packaging solutions market are

• Pelican BioThermal LLC
• Sonoco Products Company
• Sofrigram SA Ltd
• Deutsche Post AG (DHL)
• FedEx Corp
• Cold Chain Technologies
• KIMO
• ACH Foam Technologies
• AmerisourceBergen Corp
• WIKA Alexander Wiegand SE & Co
• SKF
• OMEGA Engineering
• Testo SE & Co
• Olympus Corporation
• ILLIG Maschinenbau GmbH & Co
• Tempack
• Cropak

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global temperature controlled packaging solutions market based on below mentioned segments:

Global Temperature Controlled Packaging Solutions by Type

• Passive
• Active

Global Temperature Controlled Packaging Solutions by Product

• Refrigerants
• Insulated Containers
• Protective Packaging
• Insulated Shippers

Global Temperature Controlled Packaging Solutions by Application:

• Healthcare
• Food & Beverage
• Biomedical
• Pharmaceutical
• Others

Global Temperature Controlled Packaging Solutions by Usage Type:

• Reusable Packaging
• Single-Use Packaging

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About the report:

The global temperature controlled packaging solutions market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.

About The Brainy Insights:

The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.

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