Published On : Nov 14,2017
The global passive temperature-controlled packaging solutions market has been anticipated by Future Market Insights (FMI) to marked by the presence of companies focusing on the introduction of effective, cost-efficient, and more customized offerings. Such passive temperature-controlled packaging solutions could be aimed at maintaining the coherence of stock keeping unit (SKU) management, reducing bench time, and enhancing volumetric efficiency. Some of the top companies operating in the market could include Saeplast Americas, Inc., Snyder Industries, Inc., Pelican Biothermal LLC, Cold Chain Technologies, and Sonoco Products Company.
The global passive temperature-controlled packaging solutions market, as per a report by FMI, has been envisaged to expand at a CAGR of 9.0% between 2017 and 2027. By the end of 2027, the market could be worth a US$18.0 bn, an impressive progress from a US$7.6 bn valuation attained in 2017. Insulated containers have been predicted to outclass other products in terms of value. This segment had achieved a valuation of US$4.3 bn in 2017. By region, North America had accounted for a larger share of 24.5% in 2017. However, over the forecast horizon, Asia Pacific Excluding Japan (APEJ) has been foreseen to overtake North America on the basis of sales revenue.
Expanding Supply Chain of Temperature-sensitive Pharmaceutical Products Augurs Well
The growing requirement of structurally-complex biologics-based drugs which are needed to be stored under strict temperature control to maintain their effectiveness has been foretold to increase the demand for passive temperature-controlled packaging solutions. The demand could be pushed further with the enlarging global supply chain of temperature-sensitive pharmaceutical offerings. The world passive temperature-controlled packaging solutions market has been projected to be pumped with large revenues as the demand for perishable and frozen food products increases tellingly in different geographies of the world.
The growth of the world passive temperature-controlled packaging solutions market has been envisioned to rise substantially owing to increasing regulations related to the observance of strict goods distribution practices (GDPs) across major regions. As a rising count of pharmaceutical products falls under the regulatory requirement of temperature assured packaging, the market could witness a considerable increase in growth.
Growing Preference for Reusable and Rental Packaging Represses Revenue Growth
The international passive temperature-controlled packaging solutions market could face a threat on the part of growth because of the progressively rising preference for reusable and rental packaging solutions. As a result, market sales could experience a downward shift in revenue. Besides this, the extortionate cost of passive temperature-controlled packaging solutions to be implemented for less expensive pharmaceutical products has been expected to act as a restraint in the market.
However, the soaring demand for passive temperature-controlled packaging solutions that cater to the requirement of longer duration transits could provide an impetus to the market as manufacturers focus on adopting vacuum insulated panels (VIPs). Manufacturers today have also been relying on fast-paced innovations in technologically sophisticated monitoring tools possessing the ability of real-time temperature monitoring. Developing countries such as Indonesia, China, and India could provide unique prospects in the coming years. This has prompted third-party logistics (3PL) companies and passive temperature-controlled packaging solutions providers to extend their business in these markets.
The emergence of economic inorganic phase change materials (PCMs) has had a positive effect on the international passive temperature-controlled packaging solutions, which could be evident from the availability of PCM equipped packaging solutions in the market.
The information presented in this review is based on an FMI report, titled “Passive Temperature-Controlled Packaging Solutions Market: Insulated Containers Product Type Segment to Lead in Terms of Market Share Throughout the Forecast Period: Global Industry Analysis 2012-2016 and Opportunity Assessment 2017-2027.”
The global passive temperature-controlled packaging solutions market has been segmented as presented below:
Global Passive Temperature-controlled Packaging Solutions Market: Product
Panels and Envelopes
Global Passive Temperature-controlled Packaging Solutions Market: Application
Global Passive Temperature-controlled Packaging Solutions Market: End-use Industry
Food and Beverage
Chemical and Industrial
Global Passive Temperature-controlled Packaging Solutions Market: Region
Rest of Western Europe
Rest of Eastern Europe
Rest of Latin America
Asia Pacific Excluding Japan (APEJ)
Australia and New Zealand
Rest of APEJ
Middle East and Africa (MEA)
Rest of MEA
For more useful insights on the global passive temperature-controlled packaging solutions market , Future Market Insights analysts can be contacted at email@example.com