The global temperature controlled packaging boxes market is anticipated to accumulate a market value of US$ 11.81 billion in 2023 and is expected to garner a valuation of US$ 30 billion by exhibiting a CAGR of 9.7% in the forecast period 2023 to 2033. The market of temperature-controlled packaging boxes market reflected growth with an 8% CAGR in the historical period 2018 to 2022.
Rising demand for temperature-controlled packaging boxes across various industries like food & beverages, pharmaceuticals, chemicals, and others are anticipated to drive the market growth during the forecast period. In the pharmaceuticals sector, these boxes are used for the transportation of medicines at a certain temperature which is necessary to protect the product from damage.
The recommended temperatures for vaccine storage include -80°C (dry ice), -60°C, -20°C, and the most common 2-8°C temperature range. Additionally, these boxes are used in the food and beverages sector to preserve the shelf life of frozen foods such as meat bakeries and others. Thus, the increasing adoption of cold chain packaging solutions in various sectors is expected to drive market growth during the assessment period.
On the other hand, the increasing use of cutting-edge technologies in the pharmaceutical industry presents a potential for the expansion of the market. The digital platforms keep track of temperature, vibration, and other variables for cold chain payload transfers. The market reflects faster growth when information like flight schedules, weather, and the promise of express delivery of goods is made available.
Apart from this, the growing use of vacuum panel insulation (VPI) with stage modification materials might extend the shelf life of pharmaceutical products that are stored thereby supporting market expansion. Another significant factor for market growth is the increasing emphasis on pharmaceutical companies developing medications and treatments for uncommon illnesses.
Such medications have a limited shelf life and are made of expensive ingredients. They demand a strict temperature-controlled environment as a result. Thus, in the coming years, this factor will shape the market growth. Also, considering the growth in the e-commerce industry, insulated packaging is expected to witness high sales with smaller e-commerce and food delivery platforms across meal kits and other perishable food and beverage items.
As various packages containing fresh and frozen items need good insulation, the pandemic-led behavioral change has led to packages being left outdoors for some time which will boost the product demand even more.
On the regional end, Asia Pacific is expected to dominate the market by commanding over 40% market share by end of the forecast period. The market in this region will also grow with fastest CAGR of 9.5% during the forthcoming period. Due to the rising geriatric population, escalating demand for medicines will drive the pharmaceutical market in the Asia Pacific. This will directly create demand for cold chain packaging boxes.
The ever-growing population, rapid industrialization, the constant rollout of transportation and warehousing networks, and the growing demand for processed and canned food items are some of the factors that will further drive regional growth.
Similarly, North America is anticipated to grow with a significant CAGR of 8.6% during the projection period. The growth in the region is attributed to the rising demand for frozen food and expanding online retailing platforms, especially in the countries like the United States and Canada.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 11.81 billion |
| Projected Market Value in 2033 | US$ 30 billion |
| Growth Rate (2023 to 2033) | 9.7% CAGR |
Recent developments and breakthroughs in technology, mergers, acquisitions, tie-ups, and partnerships within the companies involved in manufacturing temperature-controlled packaging boxes are expected to create lucrative opportunities for market growth during the forecast period.
Temperature controlled packaging boxes are used for shipping the medical products and vaccines, which are prone to get damaged caused by temperature variations. The temperature controlled packaging boxes usually have insulated inner body, which helps in maintaining the temperature of the inner contents.
Hence, a temperature controlled packaging boxes are rectangular containers with insulated coatings which aids to longer shelf life of medication. The temperature controlled packaging boxes not only maintains temperature inside the box but also offers tamper-evident packaging, ideal for transportation as well.
Therefore, the manufacturers of temperature controlled packaging boxes in turn have a great opportunity to earn profits because of high performance protection, cost-viability and durability of the products.
The temperature controlled packaging boxes offers an insulated storage system, which generally caters for maintaining temperature of food items, pharmaceuticals, etc. To solve the problem of damage of these items due to temperature, the temperature controlled packaging boxes are also gaining traction for high durability requirements and for clean room requirements.
Numerous efforts are done by the manufacturers of temperature controlled packaging boxes to comply with the guidelines which will further lead to many technological advancements and offer resistance to shock vibrations, longer temperature control and other impacts.
Temperature controlled packaging boxes are mainly used in pharmaceuticals and healthcare industry. Major growth drivers for the temperature controlled packaging boxes market include increasing shipments of such items which are prone to get damaged from temperature variation while transportation across the world.
The temperature controlled packaging boxes market can be classified on the basis of type into: active systems and passive systems. Both active and passive systems are widely used but, the active system in turn are the new future and trend in the temperature controlled packaging boxes market.
As active systems have electrical cooling and heating systems or cooling with dry ice, whereas the passive systems are insulated boxes or containers without any active temperature control. Therefore, passive systems have no customizable temperature adjustments. But on the contrary, the passive systems are more cost efficient as compared to the active systems.
The increasing demand for healthcare and pharmaceuticals during the COVID-19, proper temperature controlled packaging of medications especially vaccines is driving the temperature controlled packaging boxes market across the globe.
The worldwide temperature controlled packaging boxes market is very popular in the Asia Pacific. China holds the biggest market for cold chain development, owing to well-established infrastructure in large urban populations and growing demand of frozen products in the world. India is estimated to have a rapid transition in the temperature controlled packaging boxes market due to rapid increase in the pharmaceuticals industry.
North America is also holding a potential business market of the temperature controlled packaging boxes and is required to observe growth. Followed by Asia Pacific and North America, Europe is also expected to witness high growth in the temperature controlled packaging boxes market due to high disposable income.
On the other hand, the demand for temperature controlled packaging boxes in Middle East & Africa and Oceania is sluggish as contrasted with different areas.
The temperature controlled packaging boxes market is highly competitive in nature, holding to the existence of leading players. The contenders who are steering in the temperature controlled packaging boxes market are as follows -
The temperature controlled packaging boxes market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain.
The report on temperature controlled packaging boxes market provide in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies of the temperature controlled packaging boxes market.
The segmentation of temperature controlled packaging boxes market is done based on the following segments
Explore Similar Insights
Temperature Controlled Packaging Boxes Market
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.
