Global Temperature Controlled Packaging Solutions Market is set to reach US$ 17.0 billion by the end of 2027, Says CMI


SEATTLE, April 14, 2020 (GLOBE NEWSWIRE) -- Temperature-controlled packaging solutions is one of the most commonly used packaging solutions in order to protect the temperature sensitive product. Insulated protective shippers, insulated shippers, and insulated containers are some of the major temperature-controlled packaging solutions. Other types of temperature-controlled packaging solutions are gels, refrigerants, icepacks, and phase change materials and are widely used across the pharmaceutical industry. Temperature-controlled packaging solutions also maintain the freshness of the product and increase the shelf-life by maintaining the specific temperature required. Chemical, pharmaceutical, food &beverage and healthcare are some of the major end-user of temperature-controlled packaging solutions.

The global temperature controlled packaging market is projected to reach around US$ 17.0 billion by the end of 2027, in terms of revenue, growing at CAGR of 9.1% during the forecast period (2020-2027).

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Drivers:
Growth in the food &beverage industry coupled with the increasing demand for canned food and growing investment is expected to accelerate the market growth of Temperature-controlled packaging solutions. According to the Invest India, the processed food market is expected to grow to US$ 543 bn by 2020 from US$ 322 bn in 2016, at a CAGR of 14.6%. The Food Processing industry in India entails dairy, poultry & meat processing, fruits & vegetables, fisheries, and food retail.

Growing demand for temperature-controlled packaging solutions for the packaging of volatile and temperature-sensitive chemicals is expected to foster market growth over the forecast period. The growth of the market is also attributed to the increasing trade of chemicals around the globe. According to the facts & figures of the European chemical industry, the global chemicals turnover was valued at €3,347 billion in 2018. The sales increased by 2.5% from €3,266 billion in 2017 to €3,347 billion in 2018.

Market Opportunities

Insulated packaging is gaining huge potential growth on the account of its beneficial properties that helps to deliver fresh quality products to the consumer. For example, high performance thermal insulated packaging is specially designed for direct deliveries of frozen and chilled food products including fresh fish and seafood, meat, cheeses and deli items, and gourmet menus.

The rapid growth of the middle-class population is expected to provide huge opportunities to the market of temperature-controlled packaging solutions. According to the OECD Observer, by 2030 Asia will represent 66% of the global middle-class population and 59% of middle-class consumption. This is expected to provide enormous growth opportunity to the market of temperature-controlled packaging solutions over the forecast period.

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Key Takeaways:

Among region, North America dominated the global temperature controlled packaging market in 2019, accounting for over 31% share in terms of value, followed by Europe and Asia Pacific. The increasing demand for temperature controlled packaging in healthcare and pharmaceutical industry in North America is expected drive the market growth. According to Government of Canada, Canada’s pharmaceutical market was valued at US$ 25.5 billion in 2016 which increased to US$ 27.0 billion in 2017.

Among end-use segment, the food and beverage segment dominated the global temperature controlled packaging market in 2019, owing to the increasing demand for fresh & frozen food products among the consumer across the world.

Market Trends

The rising trend of adopting a cost-effective active system by the healthcare industry is expected to foster the market growth of the temperature-controlled packaging solutions. Moreover, an increased number of organized retail across emerging economies such as China and India has further augmented the market growth of temperature-controlled packaging solutions.

The high adoption rate of temperature packaging solutions across the healthcare industry in the U.S. and Canada countries is a major trend. The healthcare industry in these two countries is adopting such a solution for shipments and storage of vaccines, drugs, biologics, and biological samples. This is expected to have a strong impact on the market of temperature-controlled packaging solutions.

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Competitive Section:

Company names 
1. Sonoco Products Company
2. Cold Chain Technologies
3. Pelican Biothermal
4. Snyder Industries Inc.
5. Saeplast
6. Cropak
7. Sofrigram SA Ltd.
8. Inmark Packaging
9. VA-Q-tec AG:
10. ACH Foam Technologies, LLC
11. Tempack
Global Logistic Players
1. FedEx Corporation
2. DHL International GmbH

Market Segmentation:

By Product Type

  • Insulated Shippers
  • Insulated Containers
    • Chest Style
    • Upright Style
    • Others (refrigerants, gel, ice packs, PCM)
    • Panels and Envelopes
    • Expanded Polystyrene Shippers
    • Insulated Polyurethane Shippers
    • Vacuum Insulated Panel Shippers
    • Other Insulates Shippers (polyethylene shippers, etc.)

By Application

  • Frozen
  • Chilled
  • Ambient

By End Use

  • Healthcare
  • Food and Beverage
  • Others (Chemical, Industrial, etc.)

By Region

  • North America
  • Europe
  • APAC
  • Latin America
  • Middle East and Africa


            

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