The global temperature controlled packaging market accounted for US$ 5. 12 Bn in 2018 and is expected to reach US$ 8. 17 Bn by 2027 with a CAGR growth rate of 6. 1% during the forecast period. The availability of the multiple numbers of market players operating in the temperature controlled packaging market along with limited scope for sustainable differentiating packaging solution has attributed in the competitive market for the temperature-controlled based packaging solutions.
New York, March 18, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Temperature Controlled Packaging Market to 2027 - Global Analysis and Forecasts by Packaging Type ; End-user" - https://www.reportlinker.com/p05875921/?utm_source=GNW
Additionally, the low market entry barriers coupled with strong demand for functional packaging solutions from end-user industries has added to the overall market competitions in the industry with a significant number of market players existing in temperature controlled packaging market.
End-users such as pharmaceutical, healthcare, food & beverage, government, aerospace & defense, and chemical industries primarily have products and goods that are temperature sensitive.Subsequently, their seamless transportation as well as packaging generally require specialized packaging materials that prevent their 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.Currently, the companies operating in the temperature controlled packaging market provide a broad range of products such as insulated shippers and refrigerated containers along with specialized packaging solutions for enabling temperature-controlled packaging of the products.
For instance, some of the commonly used techniques used by different market players operating in temperature controlled packaging market include vacuum insulated panels, refrigerated containers, dry ice, polystyrene/foam, phase change materials, and gel packs among other active and passive temperature packaging solutions.The specialized packaging containers facilitate in prevention the spoilage of temperature-sensitive goods during storage, transportation from one location to another.
Additionally, the recent rise in popularity of sustainability of materials in logistics has contributed towards the adoption of reusable and multi-use materials based temperature controlled packaging solutions across developed economies in the past few years. Thus, the multi-use packaging solution are expected to gain traction and witness an attractive growth in their market share of temperature controlled packaging market.
Factors such as steady demand from end-user industries such as healthcare and pharmaceutical are projected to provide constant growth opportunities during the coming years.In addition to this, relatively fast-growing economies in the region such as Mexico, Netherlands, Czech Republic, Poland, and Luxembourg among other countries are anticipated to attract significant growth in the North American and European regions.
Whereas, the market growth in the developed countries is attributed to a substantial adoption of advanced temperature packaging solutions by the end-user industries in the respective countries.
In addition to this, continuous investment towards the improvement of cold chain logistics and overall value chain, especially across emerging economies, are the most attractive as well as the major driving force in the temperature controlled packaging market.Furthermore, the burgeoning middle-income segment especially in Asia and Middle East & Africa regions owing to rapid urbanization and increasing disposable income of the individuals is the primary factor propelling the growth of the overall temperature-controlled packaging market.
Moreover, an increase in the number of market players operating the developed regions such as North America and Europe are focusing their market growth strategies in line with the emerging market in the Asia and African regions. During the coming years, the Asia-Pacific and Africa regions are poised to lead the temperature controlled packaging market growth in terms of region and simultaneously provide a significant number of profitable business opportunities for the temperature controlled packaging market players during the forecast period.
Currently, the companies operating in temperature controlled packaging market provide a broad range of products, as well as solutions for the temperature-controlled packaging such as active single-use containers, passive, insulate shippers, refrigerated containers and reusable insulted containers among others.Thus, based on packaging type, the temperature controlled packaging market is broadly classified into active and passive packaging type.
Moreover, the passive segment is further sub-segmented into single-use and multiple-use passive packaging type.Whereas by end-user, the temperature controlled packaging market is divided into pharmaceutical, healthcare, and others (food & beverage, chemicals, government, aerospace & defense).
Finally, by geographically the temperature controlled packaging market is bifurcated into North America and Europe, Asia-Pacific, Middle East & Africa, and South America regions.
Passive shipping type in various applications are usually seen as the most cost-effective methods for the logistics of the product, for of the fact passive shipping type uses dry ice or water and phase change materials, as different from other packaging types such as active type which uses battery-powered supplies demanding a constant source of energy.They can be expensive to set up in the first place.
The benefits of using multi-use passive type include the difference in cost over other forms of packaging type.The multi-use packaging is more durable; thus, it can withstand multiple shipments.
Multi-use passive type in the temperature controlled packaging market is becoming stronger due to its exterior with hard shells features.
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