NEWARK, Del, Oct. 18, 2023 (GLOBE NEWSWIRE) -- The temperature-controlled packaging solution market is estimated to be worth US$ 13.4 Billion in 2023 and is projected to be valued at US$ 26.2 Billion in 2033. Between 2023 and 2033, the industry is expected to register a growth rate of 6.7%.
The growing application in the food & beverage industry and increased demand for fresh and perishable goods, such as fruits, vegetables, and dairy products, has boosted the temperature-controlled packaging market. The expansion of international trade and global supply chains has increased the demand for temperature-controlled packaging solutions.
The growing consumer health consciousness and increased demand for products that are fresher and of higher quality. This has led to increased demand for temperature-sensitive products, which, in turn, drives the need for reliable temperature-controlled packaging solutions.
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The main factor supporting the growth is sustainable demand from diverse end-use industries, including healthcare, food and beverages, chemical, and biomedical industries. Healthcare is predicted to provide prominent revenue key reason supporting this prediction is the growing utilization of temperature-controlled packaging solutions for the shipping of specialty drugs, drugs, blood samples, and vaccines. With the expansion of global cold chain logistics, the need for temperature-controlled packaging has surged.
Some specialty chemicals and electronic components are sensitive to temperature fluctuations. These industries also contribute to the growth of the temperature-controlled packaging solution market during the forecast period. Growing technological advancements in materials and technology have led to more efficient and reliable temperature-controlled packaging. These innovations include improved insulation materials, phase change materials, and IoT-enabled temperature monitoring systems, boosting the market growth.
Key Takeaways
- In 2022, the temperature-controlled packaging solution market was valued at US$ 12.3 billion.
- Based on system type, the passive segment is expected to account for a share of 81.9% in 2023.
- Global temperature-controlled packaging solution demand in China is predicted to account for a CAGR of 8.8% through 2033.
- Temperature-controlled packaging solution in the United States is expected to account for a CAGR of 6.2% between 2023 and 2033.
- Japan is projected to expand by a value CAGR of 6.4% between 2023 and 2033.
- By 2033, the temperature-controlled packaging solution market in India is anticipated to record a CAGR of 9.8% during the forecast period.
“The increasing demand for pharmaceuticals, cold chain logistics, and evolving consumer preferences are anticipated to drive the market growth during the forecast period," says Senior Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
Competitive Landscape
Rapid technical innovations and advancements are crucial aspects of the expansion of the industry. Major companies are investing more in research & development to develop more efficient products to set their products apart from the competition.
To attain a dominant position, the companies may follow an inorganic growth strategy such as merger, expansion, acquisition, partnership, and collaboration of the companies along with a new product development strategy.
- In February 2021, Sofrigam and Logmore joined forces to develop intelligent and qualified temperature-controlled packaging, which will make the cold chain more secure and thus prevent vaccine spoilage
- Sonoco ThermoSafe has developed a range of advanced temperature-controlled packaging solutions, including the industry-leading "Pegasus" line of high-performance temperature-controlled containers. They focus on pharmaceuticals, biologics, and other critical healthcare applications.
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Key Companies Profiled
- Sonoco Products Company
- Pelican BioThermal LLC
- Snyder Industries Inc.
- GEBHARDT Logistic Solutions GmbH
- ACH Foam Technologies, LLC
- TKT GmbH
- Cold Chain Technologies
- Cryopak Industries Inc.
- Sofrigam SA Ltd.
- va-Q-tec AG
- Saeplast Americas Inc.
- Inmark, LLC
- Tempack Packaging Solutions S.L.
- EcoCool GmbH
- Exeltainer SL
- American Aerogel Corporation
- Softbox Systems Ltd.
- DGP Intelsius Ltd.
- NanoCool
More Valuable Insights Available
Future Market Insights offers an unbiased global temperature-controlled packaging solution market analysis, providing historical data from 2018 to 2022 and forecast statistics between 2023 and 2033.
To understand opportunities in the temperature-controlled packaging solution industry, the industry is segmented based on system type (Active, Passive) by Product Type (Insulated Shipper, Insulated Container, Others) by Application (Frozen, Chilled, Ambient ) by End-Use (Healthcare, Food & Beverages )Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, the Middle East, and Africa).
About the Packaging Division at Future Market Insights
The packaging team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective of providing authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 billion+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
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Key Segmentation
By System Type:
- Active
- Passive
By Product Type:
- Insulated Shippers
- Panels & Envelopes
- EPS Shippers
- PUR Shippers
- VIP Shippers
- Insulated Containers
- Chest Style
- Upright Style
- Other Product Types
By Application:
- Frozen
- Chilled
- Ambient
By End Use:
- Healthcare
- Food & Beverages
- Other End Uses
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East & Africa (MEA)
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show - Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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