The global temperature controlled packaging market was valued US$ 11,051.2 Mn in 2020 is expected to reach US$ 23,252 Mn by 2027, with a growing CAGR of 11.2% during the forecast period.
Temperature controlled packaging is used for the packaging of temperature-sensitive products primarily in the healthcare and food & beverage industries. The temperature controlled packaging maintains the temperature of products at a pre-defined temperature range to maintain the product quality. The rising global demand for food and increasing demand for takeaway food is increasing the market for temperature controlled packaging. Moreover, the surge in need for healthcare facilities amid the pandemic is proliferating the temperature controlled packaging market growth.
However, one of the major challenges across the temperature controlled packaging industry is the optimization of transport capacity and cost optimization. Developing packaging solutions to optimize the space during transportation is one of the critical challenges across the logistics industry. Increased consumer expectations (ex. faster delivery), government mandates (such as electronic logging device (ELD) mandate in the U.S., etc.) is increasing the shipping costs impacting the temperature controlled packaging market.
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The unique insights provided by this report also includes the following:
Based on type, the passive segment is growing at a significant rate in the temperature controlled packaging market
The passive packaging type allows bulk shipping of products at lower costs. In the passive temperature controlled packaging, phase changing materials (PCM) will replace the conventional coolants such as dry ice. The PCM is reusable, non-toxic, and consumes less energy for freezing. In recent years the use of passive temperature controlled packaging has experienced a massive surge. As the mechanical issues and external forces do not hamper the packaging efficiency of packaging type, passive packaging is widely being used. As active packaging is very expensive the manufacturers are preferring for reusable packaging, which is supporting the growth of passive type packaging.
Various initiatives to develop new products, innovative manufacturing processes, and technologies are being undertaken by the temperature controlled packaging market players, which is driving the market growth. For instance, in July 2018, Clariant AG, a multinational specialty chemicals company introduced a temperature controlled packaging solution that controls moisture and prevents degradation of pharmaceutical products.
On the basis of end-use industry, the food & beverage industry held the second largest market share in temperature controlled packaging market
The global demand for frozen food is increasing owing to the rising working population that prefers packaged food. The changing lifestyle and convenience of consumption are the key factors contributing to the growing demand for packaged food. The demand for packaged food is increasing at a high rate from the Asia Pacific region owing to increasing adoption coupled with rising awareness among the people. With the increasing demand for frozen and packaged food, the companies across the temperature controlled packaging industry are bringing in innovative solutions for the food and beverage end-use industry. These new solutions are aimed at protecting food contamination and providing safe packaging solutions to maintain the quality of products.
Based on Regions, the market demand for temperature controlled packaging in Latin America is growing at a CAGR of 14.2% during the forecast period
Most of the countries such as Brazil, Argentina, Chile, Ecuador, and Colombia among others contribute a significant part of their GPD as healthcare spending, which is accelerating the healthcare industry. Pharmaceutical spending in Latin America is increasing at a significant rate with the support of the government. The domestic pharmaceutical production in the region is further anticipated to increase during the forecast period. In Latin America, Brazil provides the greatest opportunity for the growth of the pharmaceutical industry. In 2018, according to Sindusfarma, the Brazilian Ministry of Economy registered 418 pharma manufacturing plants in Brazil. The rise in the domestic production of pharmaceutical products is driving the demand for temperature controlled packaging in the region.
In addition to this, the pandemic has proliferated the demand for packaged food in the Latin America region. The e-commerce sales channel has further supported the growth of packaged food since the COVID-19 outbreak. Furthermore, the huge consumption of meat in the region that requires cold-chain logistics for shipping is driving the demand for temperature controlled packaging market.
Company Profiles and Competitive Intelligence: The major players operating in the global temperature controlled packaging market are, United Parcel Service, Inmark Temperature Controlled Packaging, FedEx Corp., Envirotainer AB, Sofrigam, DB Schenker, DHL Group, APEX Packaging Corporation, and Continental Cargo OU, among others.
The report also provides in-depth analysis of temperature controlled packaging market dynamics such as drivers, restraints opportunities and challenges
Drivers
Restraints
Opportunities
The report also provides an in-depth analysis of key trends in temperature-controlled packaging market
| Sr. No. | Trends | Impact |
| 1 | The rise in COVID-19 cases and increasing government focus on vaccinating the population is requiring temperature controlled packaging solutions for transporting vaccines globally | Positive |
| 2 | Inadequate availability of resources such as dry ice due to lockdown in many countries hampered the growth of temperature controlled packaging | Negative |
| 3 | The growth in temperature controlled biologically-based pharmaceuticals such as biologics and biosimilars is anticipated to further accelerate the market for temperature controlled packaging in the upcoming years. In the coming three to four years more than 50% of the total approved new drugs are anticipated to be biosimilars or biologics. | Positive |
The report also provides in-depth analysis of recent news developments and investments
Company Profiles and Competitive Intelligence
The key players operating in the market are:
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