New York, Feb. 11, 2022 (GLOBE NEWSWIRE) -- The latest research study on “Temperature Controlled Packaging Market to 2027 - Global Analysis and Forecasts by Packaging Type (Active, and Passive); End-user (Pharmaceutical, Healthcare, and Others)”, published by The Insight Partners. The temperature controlled packaging market growth is driven by the significant surge in demand from healthcare and pharmaceutical industry, globalization and the emergence of new technology.
| Report Coverage | Details |
| Market Size Value in | US$ 5.12 Billion in 2018 |
| Market Size Value by | US$ 8.71 Billion by 2027 |
| Growth rate | CAGR of 6.1% from 2019-2027 |
| Forecast Period | 2019-2027 |
| Base Year | 2019 |
| No. of Pages | 188 |
| No. Tables | 83 |
| No. of Charts & Figures | 78 |
| Historical data available | Yes |
| Segments covered | Packaging Type ; End-user |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Temperature Controlled Packaging Market: Competitive Landscape and Key Developments
ACH Foam Technologies LLC, Cold Chain Technologies Inc., Pelican BioThermal LLC, Sofrigram SA, Sonoco Products Company, Tempack Packaging Solutions, S.L., Exeltainer, Cryopak A TCP Company, Softbox Systems Ltd., Sorbafreeze Ltd, and Eutecma GmbH are among the key players in the global temperature controlled packaging market. The leading companies are focusing on expanding and diversifying their market presence by acquiring new customer base, thereby tapping prevailing business opportunities.
In 2019, Sonoco products company introduces EnviroSense. EnviroSense sustainable packaging initiative is carried out by the company to increase the development of sustainable packaging. The company included cans made from 100% recycled paperboard, rigid plastic packaging consisting of post-consumer recycled content, recyclable mono-material flexible pouches, and innovative packaging made from agricultural fibers.
Pharmaceuticals, healthcare, food & beverages, government, aerospace & defense, and chemical industries primarily deal with products and goods that are temperature sensitive. Their seamless transportation and packaging generally require specialized packaging materials that prevent spoilage during transit. As a result, the functional demand for efficient storage and transportation of temperature-sensitive commodities during transit has created numerous business opportunities for the temperature-controlled-based packaging solutions across different end users. Additionally, the recent rise in the popularity of sustainability of materials in logistics has contributed toward the adoption of reusable and multi-use materials-based temperature-controlled packaging solutions across developed economies in the past few years. Moreover, an increase in the number of market players operating in developed regions such as North America and Europe are focusing their market growth strategies in line with the emerging market in Asia and Africa. During the coming years, Asia Pacific and Africa are poised to offer profitable business opportunities for the market players.
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The COVID-19 pandemic adversely affected the global temperature controlled packaging market, especially in the first three quarters of 2020. The pandemic resulted in the temporary shutdown of all manufacturing processes across the world. However, as the manufacturing processes resumed from the Q3 of 2020, the temperature controlled packaging providers began witnessing the rise in demand for packaging materials.
Significant Surge in Demand from Healthcare and Pharmaceutical Industries:
In the past few years, the healthcare and pharmaceutical industries witnessed an unprecedented rise in the demand for temperature-controlled packaging due to increasing aging population globally. Factors such as rise in disposable income, accessibility of medical facilities, growing investment toward the improvement of cold-chain infrastructure, and positive growth of end-user industries have attributed to the growth of the temperature-controlled packaging market. Additionally, diverse industry verticals across healthcare and pharmaceutical industries have facilitated in substantial growth of a broad range of solutions and products to meet the functional requirement of end users.
The increasing percentage of the aging population across both developed and developing economies have shown a notable positive correlation with the growth of cold chain logistics value chain and subsequently temperature-controlled packaging in storage and transportation operations across the healthcare and pharmaceutical end users. Moreover, the growing middle-class income group across different demographic regions have boosted the penetration of improved vacuum insulated packaging, phase change materials and other packaging systems into various markets in the past few years.
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Temperature Controlled Packaging Market: Packaging Type
The global temperature controlled packaging market, based on packaging type, is segmented into active and passive. The active segment held a larger market share in 2018. The active packaging systems range from a size of parcel to reefer systems or full trailer and these systems offer cooling, heating, or both functionalities. The deployment of dedicated active solution offers the advantages of high thermal stability that is able to be tailored to the required temperature range. The range can be anywhere between -20C and +15 to +25C. The active packaging systems are high in cost and the usage efficiency may be restricted unless there is full load.
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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