Temperature Controlled Packaging Solutions Market Overview:
Global Temperature-controlled Packaging Solutions Market size was at $8,648 million in 2016, and is expected to reach at $16,925 million by 2023, registering a CAGR of 10.2% from 2017 to 2023. Active temperature-controlled packaging solutions are widely used as they enable the transportation of any size of the temperature sensitive shipment. Passive temperature-controlled packaging solution allows bulk shipping with lesser cost. The passive temperature-controlled packaging generated the highest revenue in 2016 in the global temperature-controlled packaging solutions industry and is anticipated to grow at the fastest rate during the forest period owing to its reusability and high level of technology.
Growth in food & beverage sector, increase in the use of canned food, emergence of new technology, globalization, and rise product wastage control movements drive the temperature-controlled packaging solutions market. In addition, growth in the emerging economies, such as Asia-Pacific and LAMEA and in the healthcare sector create opportunities in the global temperature-controlled packaging solutions market. However, high investment and maintenance cost and low incidence in rural areas restraint the temperature-controlled packaging solutions market growth.
Based on the type of end user, the temperature-controlled packaging solutions industry is classified into food & beverage, healthcare, and others (chemicals and biothermal). Food & beverage sector involves transportation of temperature sensitive products from one location to another with the help of temperature-controlled packaging solution. The food such as meat, dairy products, canned food, and beverages such as cold drinks, milk, and others require temperature-controlled packaging during transportation. Increased preference of consumers for canned food products has encouraged the rise in demand for the temperature-controlled packaging solutions.
The global temperature-controlled packaging solutions market is segmented into type, product, end user, and geography. Based on type, it is classified into active and passive. Based on product, it is bifurcated into insulated containers and insulated shippers. By end user, it is categorized into healthcare, food & beverage, and others. The food & beverage sector dominated the temperature-controlled packaging solutions market owing to packaging that maintains the condition and nutritive value of the food & beverages in extreme conditions for later consumption. By geography, the temperature-controlled packaging solutions market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report includes comprehensive analysis of the key players in the temperature-controlled packaging solutions market, such as Pelican BioThermal LLC, Sonoco Products Company, Cold Chain Technologies, Inc., FedEx Corp., AmerisourceBergen Corp., Deutsche Post AG (DHL), Sofrigram SA Ltd., ACH Foam Technologies, LLC, Tempack and Cropak, and Testo SE & Co.
The other prominent players in the temperature-controlled packaging solutions market include OMEGA Engineering, WIKA Alexander Wiegand SE & Co. KG, Olympus Corporation, KIMO, ILLIG Maschinenbau GmbH & Co. KG, and SKF.
China is a top market for cold chain development, due to rapidly growing demand for frozen products and well-established infrastructure in large urban populations. China is currently undergoing a rapid transition from a manufacturing and construction led economy to a consumer led economy. The rapid growth in middle class offers huge opportunities. Cities such as Beijing and Shanghai experienced an increase in the demand for utilization of cold chain warehouse and transportation systems. Thus, China generated maximum revenue in 2016 in Asia-Pacific temperature-controlled packaging solutions market.
Key Benefits :
- This report provides an in-depth analysis of the global temperature-controlled packaging solutions market to identify the potential investment pockets.
- It outlines the current trends and future scenarios to determine the overall market potential and gain stronger market foothold.
- Key drivers, restraints, and opportunities are elucidated.
- Quantitative analysis of the market from 2016 to 2023 is highlighted to recognize the financial competency of the market.
- Porter’s Five Forces model illustrates the threat of new entrants, threat of substitutes, and strength of the buyers & suppliers.
Temperature Controlled Packaging Solutions Market Key Segments:
- Insulated containers
- Insulated shippers
By End User
- Food & Beverage
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Latin America
- Middle East
Key Market Players
- Pelican BioThermal LLC
- Sonoco Products Company
- Cold Chain Technologies, Inc.
- FedEx Corp.
- AmerisourceBergen Corp.
- Deutsche Post AG (DHL)
- Sofrigram SA Ltd.
- ACH Foam Technologies, LLC
- Tempack and Cropak.
- Testo SE & Co.
The Other Players In The Market Include The Following:
- OMEGA Engineering
- WIKA Alexander Wiegand SE & Co. KG
- Olympus Corporation
- ILLIG Maschinenbau GmbH & Co. KG