SAN FRANCISCO, July 27, 2023 /PRNewswire/ — The global temperature controlled packaging solutions market size is expected to reach USD 66.95 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.2% from 2023 to 2030. This growth is attributed to the growing healthcare industry and increased demand for frozen and ready-to-eat meals across the globe. The cold supply chain ensures precise temperatures for temperature-sensitive products for industries such as healthcare, pharmaceuticals, food & beverages, and biotechnology, where maintaining the durability and quality of temperature-sensitive goods is essential through various stages including their production, packaging, storage, transportation, and final distribution.
Key Industry Insights and Findings from the report:
The market’s growth is driven by the thermal protection offering provided by its products, thereby from various application industries such as healthcare, food & beverages, and other industries
Maintaining a reliable cold chain infrastructure including adequate storage facilities, refrigerated trucks, and efficient logistics networks, especially in developing countries such as Southeast Asia is crucial and can pose challenges for maintaining the required temperature throughout the supply chain which restraints the market’s growth to some extent
The negative environmental impact of cold chain shipping significantly affects the temperature-controlled packaging solutions industry. This has driven manufacturers to develop sustainable options and provide temperature-controlled packaging solutions on a rental basis. For instance, Sonoco Products Company offers reusable temperature-controlled packaging products under its Orion reusable rental packaging program
The healthcare application segment’s growth is driven by the increased imports and exports of temperature-sensitive healthcare and pharmaceutical products such as vaccinations, and medical devices that require temperature-controlled packaging solutions during their transportation and storage
North America dominated the market in 2022, owing to the presence of several healthcare companies such as Pfizer and Jhonson & Jhonson having a huge demand for temperature-controlled packaging solutions for their healthcare products
Several key companies are collaborating and adopting acquisition strategies to strengthen their market positions. For instance, in September 2022, Varcode, a manufacturer of temperature-sensitive monitoring products announced a collaboration with the National Packaging Group to manufacture, sell, and distribute smart packaging products for distributing its temperature-sensitive products
Read 160 page market research report, “Temperature Controlled Packaging Solutions Market Size, Share & Trends Analysis Report By Type, By Product (Insulated Container, Insulated Shipper, Refrigerants), By Application, By Region, And Segment Forecasts, 2023 – 2030“, published by Grand View Research.
Temperature Controlled Packaging Solutions Market Growth & Trends
Several advancements and developments in technology for temperature-controlled packaging solutions are taking place such as real-time temperature monitoring, data analytics, and automated systems which help enable better temperature control, reduce waste, and improve overall supply chain management for temperature-sensitive products. For instance, Varcode and CryoPak are manufacturers of real-time temperature monitoring of these packaging solutions which help to maintain accurate temperature controls for temperature-sensitive products.
In addition, the market’s growth is driven by the rise in global trade activities, including the import and export of temperature-sensitive goods such as food products, which necessitates reliable and efficient temperature-controlled packaging solutions. For instance, Asia Pacific is one of the largest exporters of seafood products such as shrimp and fish which requires temperature-controlled packaging solutions for long hours of transportation and warehousing.
The industry players are adopting several strategies including partnerships, expansions, mergers & acquisitions, joint ventures, and partnership agreements to increase the customer base and individual market share. For instance, on March 10, 2023, Cryopak recently announced a joint venture called Chasen Fiber Technologies in collaboration with M. Chasen & Son, Inc. This joint venture will enable both companies to expand their product range with temperature-controlled insulated box liner packaging solutions to cater to the food & beverage, pharmaceuticals, and healthcare industries.
Temperature Controlled Packaging Solutions Market Report Scope
|
Report Attribute |
Details |
|
Market size value in 2023 |
USD 38.67 billion |
|
Revenue forecast in 2030 |
USD 66.95 billion |
|
Growth Rate |
CAGR of 8.2% from 2023 to 2030 |
|
Base year for estimation |
2022 |
|
Historical data |
2018 – 2021 |
|
Forecast period |
2023 – 2030 |
Temperature Controlled Packaging Solutions Market Segmentation
Grand View Research has segmented the global temperature controlled packaging solutions market based on type, product, application, and region:
Temperature Controlled Packaging Solutions Market – Type Outlook (Revenue, USD Billion, 2018 – 2030)
Passive Systems
Active Systems
Temperature Controlled Packaging Solutions Market – Product Outlook (Revenue, USD Billion, 2018 – 2030)
Insulated Container
Insulated Shipper
Refrigerants
Temperature Controlled Packaging Solutions Market – Application Outlook (Revenue, USD Billion, 2018 – 2030)
Food & Beverages
Grocery
Chocolates
Non-Alcoholic Beverages
Alcoholic Beverages
Dairy Products
Fish, Meat, and Seafood
Healthcare
Pharmaceuticals
Blood
Clinical Trials
Drug Testing
Pathology
Organ Transplantation
Others
Temperature Controlled Packaging Solutions Market – Regional Outlook (Revenue, USD Billion, 2018 – 2030)
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Asia Pacific
China
India
Japan
Central & South America
Middle East & Africa
Saudi Arabia
United Arab Emirates
List of Key Players in the Temperature Controlled Packaging Solutions Market
Sonoco Products Company
Cryopak Industries Inc.
DGP Intelsius
Cold Chain Technologies
Envirotainer
CSafe
AmerisourceBergen Corporation
Deutsche Post DHL Group
Inbox Solutions
APEX Packaging Corporation
TPC Packaging Solutions
PCI Pharma Services
Safe Box
Aeris
DGR PACKAGING & SUPPLY PTE LTD
Valor Industries
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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