6-Aug-2019: The global temperature
controlled packaging solutions market size is expected to
reach USD 16.8 billion by 2025, according to a new report by Grand View
Research, Inc., expanding at a CAGR of 8.3% over the forecast period.
Increasing demand for the frozen and fresh foods including fruits and
vegetables, dairy products, beverages, bakery and confectionery, meat, and
pre-cooked meals is expected to promote the market growth. Furthermore,
increasing application of temperature controlled packaging for the shipment of
drugs, vaccines, biologics, and biological samples in developed economies,
including U.S. and Germany, is projected to have a strong impact on the growth.
Asia Pacific is
expected to witness significant growth in the upcoming years due to expansion
of the pharmaceutical and food and beverage industries in emerging economies,
including China and India. Furthermore, increasing number of organized retail
has augmented the demand for food packaging in the abovementioned countries.
Innovation has been
a crucial part of the industry. Over the past few years, manufacturers have
been emphasizing on R&D of the products. For instance, in 2018, Softbox
Systems Ltd introduced MAX range containers. The Tempcell MAX range containers
are for single-use with improved coolant barrier system. The water-based model
has been replaced by an internal barrier film to enhance thermal retention.
However, Silverpod MAX is a recyclable coolant system with a solar barrier
film. Similarly, in July 2017, Sonoco Products Company launched a new range of
reusable packaging, ChillTech, for the shipment of pharmaceutical and
biological products. It provides temperature control from 2 to 6 days.
In
depth research report on Temperature Controlled Packaging Solutions Market
Further key findings from the study suggest:
·
On the basis of product, insulated shippers are expected to
witness the fastest growth and register a CAGR of 8.7% from 2019 to 2025
·
Food and beverage accounted for 49.3% share in the global
temperature controlled packaging solutions market in 2018. The healthcare
application segment is expected to witness the fastest growth and expand at a
CAGR of 8.8% from 2019 to 2025
·
North America held the largest share of more than 40% in
terms of revenue in 2018. This is attributed to highadoption rate of temperature
packaging in the healthcare industry of U.S. and Canada
·
Key competitors in this industry include Cold Chain
Technologies, Inc.; Cryopak Industries Inc.; Softbox Systems Ltd.; DGP
Intelsius; AmerisourceBergen Corporation; DHL International GmbH; Envirotainer
AB; Sonoco Products Company; APEX Packaging Corporation; and Inmark Temperature
Controlled Packaging. Product innovation is expected to remain one of the key
strategies adopted by industry participants over the next few years.
Grand View Research
has segmented the global temperature controlled packaging solutions market on
the basis of product, application, and region:
Temperature Controlled Packaging Solutions Product Outlook
(Revenue, USD Million, 2015 - 2025)
·
Insulated Container
·
Insulated Shipper
Temperature Controlled Packaging Solutions Application
Outlook (Revenue, USD Million, 2015 - 2025)
·
Food & Beverage
·
Healthcare
·
Others
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About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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