The global temperature controlled packaging solutions market is expected to grow at a CAGR of 10.0% over forecast period 2020 to 2027 and to reach around US$ 23,276.3 Mn by 2027.
Temperature-controlled packaging solutions are designed to keep products safe for a specific period of time under the desired temperature range. These packaging solutions enable transportation of temperature-sensitive products in the various industrial sector including pharmaceutical, food & beverage, and chemicals among others. The packaging solutions can be divided into insulated containers, insulated shippers, and refrigerants.
The increasing demand of frozen food is accelerated by the changing lifestyle and busy working schedule. The people are inclining towards the ready to eat meals due to time limitations. The increasing working women population coupled with economic development is supporting the global market value. Increasing health awareness is additionally surging demand for fresh fruits and vegetables across the globe. Furthermore, the growing pharmaceutical and food & beverage industry is accelerating market growth. Moreover, the healthcare sector is projected to create potential opportunities over the estimated period from 2019 to 2027.
On the other hand, increasing environmental concerns associated with the packaging waste and stringent government regulations are projected to restraint market growth over the estimated period.
Insulated shippers have dominated the market with major share
In 2019, the insulated shippers' segment accounted for the major share on the basis of the product. The segment is particularly gaining pace due to the presence of a large number of applications in various industries including pharmaceutical, food and beverage, and chemical. The technological advancement associated with the insulated shippers is further supporting the market value.
On the basis of end-user, food and beverage segment registered maximum share in 2019
The increasing demand for fresh and frozen food across the globe is primarily supporting segmental growth. The increasing global trade is additionally contributing to the global market value. For instance, India export fruits and vegetables such as mangoes, walnuts, bananas, grapes, pomegranates, onions, bitter gourd, mushrooms, green chilies, potatoes, and okra across various foreign countries are further propelling the market growth.
The market research study on “Temperature Controlled Packaging Solutions Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 – 2027”, offers a detailed insight into the global Temperature Controlled Packaging Solutions market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights into the global Temperature Controlled Packaging Solutions market, its product type, application, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global Temperature Controlled Packaging Solutions market size and volume, and segment markets by product type, application, and geography along with the information on companies operating in the market. The Temperature Controlled Packaging Solutions market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size and volume for different segments have been covered under the scope of the report.
North America accounted for the maximum share in the temperature controlled packaging solutions market
In 2019, North America dominated the global market with maximum share. The major economies of the region including the U.S. and Canada contributed to the major share. The strong presence of the healthcare sector in the region is contributing to the regional market value. The region is also projected to maintain its dominance during the forecast timeframe from 2020 to 2027.
The players profiled in the report include ACH Foam Technologies, LLC, AmerisourceBergen Corp., Cold Chain Technologies, Inc., Deutsche Post AG (DHL), FedEx Corp., ILLIG Maschinenbau GmbH & Co. KG, KIMO, Olympus Corporation, OMEGA Engineering, Pelican BioThermal LLC, SKF, Sofrigram SA Ltd., Sonoco Products Company, Tempack and Cropak., Testo SE & Co., WIKA Alexander Wiegand SE & Co. KG.
Market By Type
Market By Product
Market By End User
Market By Geography
Middle East & Africa
The market for temperature-controlled packaging solutions expected to reach the market value of around US$ 23,276.3 Mn by 2027.
The temperature-controlled packaging solutions market is expected to grow at a CAGR of around 10.0% from 2020 to 2027.
Food & beverage segment is leading the global temperature-controlled packaging solutions market with major share
Healthcare segment is projected to witness the fastest growth over the estimated period from 2019 to 2027
The increasing demand for frozen food, changing lifestyles and busy working schedules, increasing working women population, economic development, and increasing health awareness are some of the major factors accelerating the global market.
ACH Foam Technologies, LLC, AmerisourceBergen Corp., Cold Chain Technologies, Inc., Deutsche Post AG (DHL), FedEx Corp., ILLIG Maschinenbau GmbH & Co. KG, KIMO, Olympus Corporation, OMEGA Engineering, Pelican BioThermal LLC, SKF, Sofrigram SA Ltd., Sonoco Products Company, Tempack and Cropak., Testo SE & Co., WIKA Alexander Wiegand SE & Co. KG are some of the major players in the market.
North America dominated the global temperature-controlled packaging solutions market with a major share in 2019.