The global reefer container for the pharmaceutical market is projected to register at a moderate-paced CAGR of 12.5% over the forecast period. The reefer container for the pharmaceutical market is currently valued at US$ 3602.85 million in 2022. By 2032, demand for reefer containers for pharmaceuticals is expected to reach a high of US$ 11699.63 million.
Attribute | Details |
---|---|
Market Value (2022) | US$ 3602.85 million |
Market Value (2032) | US$ 11699.63 million |
CAGR | 12.5% |
This growth in the adoption of reefer containers for pharmaceuticals is supported by the following:
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
Rising demand for multimodal transport is expected to be a driving force in the demand for dry containers, which in turn is driving the reefer container for pharmaceutical market growth. As a result of its low initial investment requirements, great efficiency, and minimal environmental impact, intermodal transport is quickly growing in popularity. In addition to reducing transit time, this mode of conveyance also allows for direct delivery to the customer's door. This method utilizes alternative routes while also assuring the cargo's security. When compared to other modes of transportation, intermodal transport is very efficient and simple to monitor.
Computerized truck routing, online freight exchange, and active traffic management are just a few examples of the technical developments that have made intermodal transportation the go-to option for shippers.
As the global demand-supply balance in the manufacturing and construction sectors improves, there will likely be an increase in the need for dry containers. As the number of leasing and renting services for containers in the shipping and logistics sectors increases, it is projected that dry van containers will have great growth potential.
The Smart reefer container, which is a linked container for transporting commodities that need to be kept cool, was first started by CMA CGM in February 2022. The location of the refrigerated goods as well as their current condition can be determined using the SMART reefer containers. Additionally, in March 2022, ORBCOMM Inc., a global provider of IoT solutions, announced the debut of its CT 3500 IoT telematics device. This device contains the next step in the smart management of refrigerated containers and was developed by ORBCOMM Inc.
The data-driven chilled container solution provided by ORBCOMM offered improved functionalities, connectivity choices, and analytical capabilities. Most notably, it demonstrates interoperability with telematics devices developed by third parties, which assists shippers and carriers in driving efficiencies in the logistics of reefer containers. As a result, smart reefer containers are acquiring a substantial amount of acceptability among the producers of reefer containers, which is predicted to fuel the expansion of the reefer container for the pharmaceutical market over the forecast period.
Reefer Container for Pharmaceutical Market:
Differentiating Aspects | Reefer Container for Pharmaceutical Market |
---|---|
CAGR | 12.5% |
Market Valuation in 2022 | US$ 3602.85 million |
Projected Market Value in 2032 | US$ 11699.63 million |
Drivers | Costs in the healthcare system are rising. Intensifying the funding for research and development The rapid rise in rates of chronic conditions attributable to unhealthy lifestyles |
Shipping Container Market:
Differentiating Aspects | Shipping Container Market |
---|---|
CAGR | 12% |
Market Valuation in 2022 | US$ 6.41 billion |
Projected Market Value in 2032 | US$ 19.91 billion |
Drivers | Growth in maritime shipping on account of an increase in trade agreements across the nations |
Protective Packaging Market:
Differentiating Aspects | Protective Packaging Market |
---|---|
CAGR | 5.92% |
Market Valuation in 2022 | US$ 31788.0 million |
Projected Market Value in 2032 | US$ 56499.28 million |
Drivers | Rapid industrialization Increase in the rate of urbanization |
Huge demand for pharmaceuticals can be attributed to several interrelated trends, including an aging population, rising healthcare costs, rising investments in Research and Development capabilities, and rising prevalence of lifestyle diseases like obesity and diabetes. In addition, the COVID-19 pandemic's emergence has increased demand for reefer containers for pharmaceuticals, highlighting the importance of transportation activities in getting them to consumers. Owing to the rise in pharmaceutical Research and Development, more vaccines and other drugs are being synthesized than ever before, all of which must be kept at precise temperatures to preserve their efficacy. Due to their sensitivity to temperature changes, most pharmaceuticals require a reefer shipping container for safe and effective storage and transport.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
The pharmaceutical industry relies on complex supply chains to get their medications to patients, and these systems are always being updated to take advantage of new technologies that improve the safety of drug transport. Pharmaceutical cold storage facilities rely heavily on control tower technology, automated packing, and AI, among other technologies. More complicated cold-chain needs have arisen as a result of recent developments in the distribution of temperature-sensitive pharmaceutical products, such as vaccines for COVID-19 and other infectious diseases, novel oncology treatments, and Cell and Gene (CGT) Therapies, used to treat rare and chronic diseases and more.
Cold storage capacity in India is expected to hit 40.7 million metric tonnes by 2023, up 8.2% from the projected capacity in 2020, according to the most recent research by Colliers published in August 2022. The transition from traditional cold storage to state-of-the-art storage facilities is largely responsible for the predicted 20% CAGR growth in the global cold chains by 2025, as reported by Jones Lang LaSalle IP, Inc. New cold storage facility for temperature-controlled commodities to be built in Ridgeville, South Carolina, by Maersk Company (MCI), as of August 2022; operations to begin in Q1 2023. This is paving the way for a rise in the demand for reefer containers for pharmaceuticals on a global scale.
The reefer container for the pharmaceutical market is divided into three categories: small containers, medium containers, and large containers. These categories are determined by the size of the container. In 2021, the segment that dealt with large containers maintained the largest market share. One of the primary elements fueling the need for large containers is the growing scope of large-scale transportation all at once. This is one of the major factors that is driving the reefer container for pharmaceutical market expansion for this category. Another factor is the rising need for medicinal products.
Dry containers will control the vast bulk of the market in 2020 and will account for around 80.2% of all global sales. The low price, widespread availability, and extensive application of dry containers for the shipping of dry materials were the primary contributors to its high share in the type of segment in 2020.
Dry containers are airtight; therefore, they efficiently protect the contents contained within them from being harmed by harsh conditions. Although steel is used to make most dry containers, aluminum is also occasionally incorporated into the production process. They are utilized for most of the movement of dry goods that are packaged in boxes, barrels, bags, drums, cartons, cases, and pallets at both the domestic and international levels.
The USA is actively seeking trade liberalization via discussions and regulations that promote economic growth by increasing the shipping of pharmaceuticals and other vital goods. Reefer containers are state-of-the-art shipping containers designed to preserve perishable goods at a constant temperature and humidity level while in transit, protecting them from environmental hazards along the way. Some medications can be damaged if exposed to light or even slight temperature changes, hence these containers are fitted with sensors to detect such events.
The rise of the pharmaceutical market in Europe's reefer container is driven by the European Commission's increasing initiatives for developing laws and policies. The rising demand for reefer containers in the shipping of pharmaceutical items is largely attributable to the European Union's goal of managing its trade and investment relations in a way that tries to provide greater trading opportunities to European enterprises. Deep-freeze storage containers for COVID-19 vaccines were delivered by the German company MECOTEC Group in November 2021.
The emergence of COVID-19 at the beginning of 2020 had a detrimental effect on the expansion of the market. As a result of the pandemic, countries went into lockdown, mostly to stop the disease from spreading further. This resulted in a decrease in demand for non-essential consumer products, particularly in the second and third quarters of the year 2020.
In addition, China served as the nerve center for COVID-19 during the first three months of the year 2020. As a result, some nations halted their trade with China in order to slow the spread of the disease. Trade between the USA of America and China dropped by 20.3% in the first quarter of 2020, and a similar reduction in trade was noted between China and European countries.
Due to China's significant role in the worldwide trade of consumer goods, COVID-19's direct impact on the decline in exports of such goods in 2020 had a significant impact on the demand for shipping containers. However, beginning in 2021 rapid vaccination is anticipated to bring in a resurgence in demand for consumer products, which is expected to boost the reefer container for the pharmaceutical market over a shorter period.
There are both large and medium-sized foreign firms, as well as smaller domestic firms, all competing for customers. This expansion is being fueled by rising capital expenditures in the construction of shipping container factories. Towards the end of 2020, the top three Chinese container manufacturers-CIMC, DFIC, and CXIC-began increasing output.
There is likely to be more competitive in the reefer container for the pharmaceutical market owing to rising investments in shipping container production. For instance, the Dubai-based Transworld Group inked a USD 26.83 million contract with the Indian government-owned Sagarmala Development Company Ltd. in March 2021 to build a cargo container manufacturing facility in Gujarat.
Other recent developments in the reefer container for the pharmaceutical market include:
Companies like these are among the most visible in the international shipping container industry.
The growth outlook for the Reefer Container for the Pharmaceutical market is predicted to advance at a CAGR of 12.5% from 2022 to 2032.
Europe region is anticipated to lead the Reefer Container for the Pharmaceutical market over the forecast period.
The valuation of the Reefer Container for the Pharmaceutical market stands at US$ 3602.85 million in 2022.
The Reefer Container for the Pharmaceutical market is likely to hold a valuation of US$ 11699.63 million by 2032.
1. Executive Summary | Reefer Container for Pharmaceutical Market 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Investment Feasibility Matrix 3.5. PESTLE and Porter’s Analysis 3.6. Regulatory Landscape 3.6.1. By Key Regions 3.6.2. By Key Countries 3.7. Regional Parent Market Outlook 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 4.1. Historical Market Size Value (US$ million) Analysis, 2017 to 2021 4.2. Current and Future Market Size Value (US$ million) Projections, 2022 to 2032 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Container Size 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ million) Analysis By Container Size, 2017 to 2021 5.3. Current and Future Market Size Value (US$ million) Analysis and Forecast By Container Size, 2022 to 2032 5.3.1. Small Container 5.3.2. Medium Container 5.3.3. Large Container 5.4. Y-o-Y Growth Trend Analysis By Container Size, 2017 to 2021 5.5. Absolute $ Opportunity Analysis By Container Size, 2022 to 2032 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Applications 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ million) Analysis By Applications, 2017 to 2021 6.3. Current and Future Market Size Value (US$ million) Analysis and Forecast By Applications, 2022 to 2032 6.3.1. Pharmaceutical Preparations 6.3.2. Injectables 6.3.3. Blood Derivatives 6.3.4. Vaccine and Serum 6.3.5. Other 6.4. Y-o-Y Growth Trend Analysis By Applications, 2017 to 2021 6.5. Absolute $ Opportunity Analysis By Applications, 2022 to 2032 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 7.1. Introduction 7.2. Historical Market Size Value (US$ million) Analysis By Region, 2017 to 2021 7.3. Current Market Size Value (US$ million) Analysis and Forecast By Region, 2022 to 2032 7.3.1. North America 7.3.2. Latin America 7.3.3. Europe 7.3.4. South Asia 7.3.5. East Asia 7.3.6. Oceania 7.3.7. Middle East and Africa (MEA) 7.4. Market Attractiveness Analysis By Region 8. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 8.1. Historical Market Size Value (US$ million) Trend Analysis By Market Taxonomy, 2017 to 2021 8.2. Market Size Value (US$ million) Forecast By Market Taxonomy, 2022 to 2032 8.2.1. By Country 8.2.1.1. United States of America 8.2.1.2. Canada 8.2.2. By Container Size 8.2.3. By Applications 8.3. Market Attractiveness Analysis 8.3.1. By Country 8.3.2. By Container Size 8.3.3. By Applications 8.4. Key Takeaways 9. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 9.1. Historical Market Size Value (US$ million) Trend Analysis By Market Taxonomy, 2017 to 2021 9.2. Market Size Value (US$ million) Forecast By Market Taxonomy, 2022 to 2032 9.2.1. By Country 9.2.1.1. Brazil 9.2.1.2. Mexico 9.2.1.3. Rest of Latin America 9.2.2. By Container Size 9.2.3. By Applications 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Container Size 9.3.3. By Applications 9.4. Key Takeaways 10. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10.1. Historical Market Size Value (US$ million) Trend Analysis By Market Taxonomy, 2017 to 2021 10.2. Market Size Value (US$ million) Forecast By Market Taxonomy, 2022 to 2032 10.2.1. By Country 10.2.1.1. Germany 10.2.1.2. United Kingdom 10.2.1.3. France 10.2.1.4. Spain 10.2.1.5. Italy 10.2.1.6. Rest of Europe 10.2.2. By Container Size 10.2.3. By Applications 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Container Size 10.3.3. By Applications 10.4. Key Takeaways 11. South Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11.1. Historical Market Size Value (US$ million) Trend Analysis By Market Taxonomy, 2017 to 2021 11.2. Market Size Value (US$ million) Forecast By Market Taxonomy, 2022 to 2032 11.2.1. By Country 11.2.1.1. India 11.2.1.2. Malaysia 11.2.1.3. Singapore 11.2.1.4. Thailand 11.2.1.5. Rest of South Asia 11.2.2. By Container Size 11.2.3. By Applications 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Container Size 11.3.3. By Applications 11.4. Key Takeaways 12. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12.1. Historical Market Size Value (US$ million) Trend Analysis By Market Taxonomy, 2017 to 2021 12.2. Market Size Value (US$ million) Forecast By Market Taxonomy, 2022 to 2032 12.2.1. By Country 12.2.1.1. China 12.2.1.2. Japan 12.2.1.3. South Korea 12.2.2. By Container Size 12.2.3. By Applications 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Container Size 12.3.3. By Applications 12.4. Key Takeaways 13. Oceania Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13.1. Historical Market Size Value (US$ million) Trend Analysis By Market Taxonomy, 2017 to 2021 13.2. Market Size Value (US$ million) Forecast By Market Taxonomy, 2022 to 2032 13.2.1. By Country 13.2.1.1. Australia 13.2.1.2. New Zealand 13.2.2. By Container Size 13.2.3. By Applications 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Container Size 13.3.3. By Applications 13.4. Key Takeaways 14. MEA Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 14.1. Historical Market Size Value (US$ million) Trend Analysis By Market Taxonomy, 2017 to 2021 14.2. Market Size Value (US$ million) Forecast By Market Taxonomy, 2022 to 2032 14.2.1. By Country 14.2.1.1. GCC Countries 14.2.1.2. South Africa 14.2.1.3. Israel 14.2.1.4. Rest of MEA 14.2.2. By Container Size 14.2.3. By Applications 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Container Size 14.3.3. By Applications 14.4. Key Takeaways 15. Key Countries Market Analysis 15.1. United States of America 15.1.1. Pricing Analysis 15.1.2. Market Share Analysis, 2021 15.1.2.1. By Container Size 15.1.2.2. By Applications 15.2. Canada 15.2.1. Pricing Analysis 15.2.2. Market Share Analysis, 2021 15.2.2.1. By Container Size 15.2.2.2. By Applications 15.3. Brazil 15.3.1. Pricing Analysis 15.3.2. Market Share Analysis, 2021 15.3.2.1. By Container Size 15.3.2.2. By Applications 15.4. Mexico 15.4.1. Pricing Analysis 15.4.2. Market Share Analysis, 2021 15.4.2.1. By Container Size 15.4.2.2. By Applications 15.5. Germany 15.5.1. Pricing Analysis 15.5.2. Market Share Analysis, 2021 15.5.2.1. By Container Size 15.5.2.2. By Applications 15.6. United Kingdom 15.6.1. Pricing Analysis 15.6.2. Market Share Analysis, 2021 15.6.2.1. By Container Size 15.6.2.2. By Applications 15.7. France 15.7.1. Pricing Analysis 15.7.2. Market Share Analysis, 2021 15.7.2.1. By Container Size 15.7.2.2. By Applications 15.8. Spain 15.8.1. Pricing Analysis 15.8.2. Market Share Analysis, 2021 15.8.2.1. By Container Size 15.8.2.2. By Applications 15.9. Italy 15.9.1. Pricing Analysis 15.9.2. Market Share Analysis, 2021 15.9.2.1. By Container Size 15.9.2.2. By Applications 15.10. India 15.10.1. Pricing Analysis 15.10.2. Market Share Analysis, 2021 15.10.2.1. By Container Size 15.10.2.2. By Applications 15.11. Malaysia 15.11.1. Pricing Analysis 15.11.2. Market Share Analysis, 2021 15.11.2.1. By Container Size 15.11.2.2. By Applications 15.12. Singapore 15.12.1. Pricing Analysis 15.12.2. Market Share Analysis, 2021 15.12.2.1. By Container Size 15.12.2.2. By Applications 15.13. Thailand 15.13.1. Pricing Analysis 15.13.2. Market Share Analysis, 2021 15.13.2.1. By Container Size 15.13.2.2. By Applications 15.14. China 15.14.1. Pricing Analysis 15.14.2. Market Share Analysis, 2021 15.14.2.1. By Container Size 15.14.2.2. By Applications 15.15. Japan 15.15.1. Pricing Analysis 15.15.2. Market Share Analysis, 2021 15.15.2.1. By Container Size 15.15.2.2. By Applications 15.16. South Korea 15.16.1. Pricing Analysis 15.16.2. Market Share Analysis, 2021 15.16.2.1. By Container Size 15.16.2.2. By Applications 15.17. Australia 15.17.1. Pricing Analysis 15.17.2. Market Share Analysis, 2021 15.17.2.1. By Container Size 15.17.2.2. By Applications 15.18. New Zealand 15.18.1. Pricing Analysis 15.18.2. Market Share Analysis, 2021 15.18.2.1. By Container Size 15.18.2.2. By Applications 15.19. GCC Countries 15.19.1. Pricing Analysis 15.19.2. Market Share Analysis, 2021 15.19.2.1. By Container Size 15.19.2.2. By Applications 15.20. South Africa 15.20.1. Pricing Analysis 15.20.2. Market Share Analysis, 2021 15.20.2.1. By Container Size 15.20.2.2. By Applications 15.21. Israel 15.21.1. Pricing Analysis 15.21.2. Market Share Analysis, 2021 15.21.2.1. By Container Size 15.21.2.2. By Applications 16. Market Structure Analysis 16.1. Competition Dashboard 16.2. Competition Benchmarking 16.3. Market Share Analysis of Top Players 16.3.1. By Regional 16.3.2. By Container Size 16.3.3. By Applications 17. Competition Analysis 17.1. Competition Deep Dive 17.1.1. BSL Refrigerated Containers 17.1.1.1. Overview 17.1.1.2. Product Portfolio 17.1.1.3. Profitability by Market Segments 17.1.1.4. Sales Footprint 17.1.1.5. Strategy Overview 17.1.1.5.1. Marketing Strategy 17.1.2. CMA CGM Group 17.1.2.1. Overview 17.1.2.2. Product Portfolio 17.1.2.3. Profitability by Market Segments 17.1.2.4. Sales Footprint 17.1.2.5. Strategy Overview 17.1.2.5.1. Marketing Strategy 17.1.3. Klinge Corporation 17.1.3.1. Overview 17.1.3.2. Product Portfolio 17.1.3.3. Profitability by Market Segments 17.1.3.4. Sales Footprint 17.1.3.5. Strategy Overview 17.1.3.5.1. Marketing Strategy 17.1.4. DAIKIN INDUSTRIES, Ltd 17.1.4.1. Overview 17.1.4.2. Product Portfolio 17.1.4.3. Profitability by Market Segments 17.1.4.4. Sales Footprint 17.1.4.5. Strategy Overview 17.1.4.5.1. Marketing Strategy 17.1.5. MAERSK CONTAINER INDUSTRY AS 17.1.5.1. Overview 17.1.5.2. Product Portfolio 17.1.5.3. Profitability by Market Segments 17.1.5.4. Sales Footprint 17.1.5.5. Strategy Overview 17.1.5.5.1. Marketing Strategy 17.1.6. Evergreen Marine Corp- (Taiwan) Ltd 17.1.6.1. Overview 17.1.6.2. Product Portfolio 17.1.6.3. Profitability by Market Segments 17.1.6.4. Sales Footprint 17.1.6.5. Strategy Overview 17.1.6.5.1. Marketing Strategy 17.1.7. Seaco 17.1.7.1. Overview 17.1.7.2. Product Portfolio 17.1.7.3. Profitability by Market Segments 17.1.7.4. Sales Footprint 17.1.7.5. Strategy Overview 17.1.7.5.1. Marketing Strategy 17.1.8. TITAN Containers North America LLC 17.1.8.1. Overview 17.1.8.2. Product Portfolio 17.1.8.3. Profitability by Market Segments 17.1.8.4. Sales Footprint 17.1.8.5. Strategy Overview 17.1.8.5.1. Marketing Strategy 17.1.9. COSCO SHIPPING 17.1.9.1. Overview 17.1.9.2. Product Portfolio 17.1.9.3. Profitability by Market Segments 17.1.9.4. Sales Footprint 17.1.9.5. Strategy Overview 17.1.9.5.1. Marketing Strategy 17.1.10. W&K Containers, Inc. 17.1.10.1. Overview 17.1.10.2. Product Portfolio 17.1.10.3. Profitability by Market Segments 17.1.10.4. Sales Footprint 17.1.10.5. Strategy Overview 17.1.10.5.1. Marketing Strategy 18. Assumptions & Acronyms Used 19. Research Methodology
Packaging
February 2018
REP-GB-6390
April 2024
326 pages
Explore Packaging Insights
View Reports