Temperature Controlled Packaging Solutions Market to Grow 2X by 2030, on Back of Rising Consumption of Perishable Food Products
Rising demand for efficient transportation of perishable food products across remote geographies, coupled with elongating supply chains incorporating multi-modal supply routes, requires optimal temperature handling for longer durations. This has resulted into increased sales of temperature controlled packaging solutions across all geographies, especially insulated containers. This is attributable to their high suitability for packaging perishable and temperature-sensitive products.
Temperature Controlled Packaging Solutions Market
A recent market report published by Future Market Insights on the temperature controlled p...
On the back of these factors, the global temperature controlled packaging solutions market is projected to register an impressive CAGR of over 8% during 2020-2030.
Key Takeaways of Temperature Controlled Packaging Solutions Market Study
- Food & Beverages industry holds a majority of the market share in the global temperature controlled packaging solutions market, closely followed by the healthcare industry. The high demand from this industry is mainly driven by the rising consumption of perishable food products, which require insulated containers/bins coupled with a refrigerant for proper transportation.
- The chilled segment is projected to retain its prominent position and account for nearly 43% of the global temperature controlled packaging solutions market by 2030. This is attributable to the growing need for efficient temperature controlled shipping solutions for pharmaceuticals as well as food products.
- Passive temperature controlled packaging solutions are largely preferred over their active counterparts, as passive solutions are relatively economical, easy to handle, and dispose.
- The insulated containers segment has been identified as the most lucrative segment in the global temperature controlled packaging solutions market. This can primarily be attributed to the increasing consumption of meat, fish, seafood, and other perishable products, globally.
- South Asia and East Asia are estimated to cumulatively hold more than 30% of the share in the global temperature controlled packaging solutions market by 2030. The demand for insulated shippers for cold chain packaging is likely to remain moderate in the region, while that for packaging of perishable foods is likely to remain strong in the foreseeable future.
“Leading pharmaceutical manufacturers demand effective packaging formats for biologics and specialty drugs, as such products are extremely temperature-sensitive and any compromise in handling them can significantly affect product efficiency. This is expected to present remunerative growth potential for all participants of the supply chain in the global temperature controlled packaging solutions market.”
Temperature Controlled Packaging Solutions Market Landscape
FMI has identified Sonoco Products Company, Pelican BioThermal LLC, Snyder Industries Inc., GEBHARDT Logistic Solutions GmbH, and ACH Foam Technologies, LLC as the leading players in the global temperature controlled packaging solutions market.
These companies are also introducing rental programs to provide temperature controlled packaging solutions at a lower cost as compared to their competitors. Various food and pharma companies opt for leasing or renting temperature controlled shippers/containers as per their requirements. This is profitable for the manufacturers of temperature controlled packaging solutions, as shipper/container manufacturers achieve reduced cost of ownership and increased return on investment, hence higher profits.
About Temperature Controlled Packaging Solutions Market Report
Future Market Insights, in its new report, offers an unbiased analysis of the global temperature controlled packaging solutions market, analyzing historical demand from 2015-2019 and forecast statistics for 2020-2030. The study reveals growth projections of the temperature controlled packaging solutions market on the basis of system type (active and passive), product type (insulated shippers, insulated containers, and others), application (frozen, chilled, and ambient), and end use (food & beverages, healthcare, and others), across seven regions.
For additional information, write to the analyst at [email protected]
About Packaging Division at Future Market Insights
The Packaging division at FMI provides an in-depth historical analysis and granular projections of the global packaging market. Ranging from packaging materials to designs & formats, FMI has an exhaustive market research database, serving clients with unique offerings and strategic recommendations. With a repository of 750+ reports, the team analyzed the packaging industry comprehensively in 70+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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