The growth of canned and packaged food in the food and beverage industry is influencing the market growth.
Temperature Controlled Packaging Solutions Market Size – USD 9.46 Billion in 2018, Temperature Controlled Packaging Solutions Market Growth – CAGR of 8.0%, Temperature Controlled Packaging Solutions Market Trends – Demand for Global Temperature Controlled Packaging Solutions in the healthcare industry.
NEW YORK, May 07, 2019 (GLOBE NEWSWIRE) — The global Temperature Controlled Packaging Solutions Market is expected to reach USD 18.01 Billion by 2026, according to a new report by Reports and Data. This is mainly contributed by the growth of canned and packaged food in the food and beverage industry. Increasing disposable income and increasing purchasing power, as well as the emerging wastage control of food and medicines, will drive the growth of the market. Moreover, increasing trade of frozen food and drugs internationally, which require constant temperature control, will also fuel the growth of the market.
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Temperature controlled packaging solutions are ideal for the transport of heat sensitive products in extreme conditions, such as through prolonged periods and intense heat. They provide the end users with higher performance, more efficiency than other insulating materials, better temperature maintenance, and a reduced thickness on the sides, which reduces the volume and weight of the cold source used. However, the volatile costs of raw materials, as well as high initial investment and maintenance costs, are expected to restrain the growth of the market.
Further key findings from the report suggest
- The market is segmented on the basis of product into insulated containers, insulated shippers, and refrigerants.
- Insulated shippers account for the largest market share of ~45% in 2018, and is also forecasted to witness the highest growth rate of 8.6% during the forecast period.
- The cost-effectiveness of insulated shippers will have a positive impact on the growth of the segment.
- Moreover, the demand for insulated shipping services for clinical and pharmaceutical products, such as drugs, vaccines, and blood samples will boost the growth of the segment.
- The market is segmented on the basis of type into active system, passive system, and hybrid system.
- Passive systems account for the largest market share of ~45% in 2018.
- Passive thermal systems are generally used as the packaging systems in the food & beverage industry. These systems use phase change materials (PCM) such as water or ice or dry ice. Moreover, the simplicity and cost-effectiveness of the system will also have a positive effect on the growth of the segment.
- The market is segmented on the basis of services type into airways, waterways, and roadways.
- Waterways account for the largest market share of ~45% in 2018.
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- Water transport is the cheapest and oldest form of transportation for bulky goods and cargoes.
- The market is segmented on the basis of end users into food & beverages, healthcare & pharmaceuticals, chemical & materials, and research laboratories.
- Healthcare & pharmaceutical industry is forecasted to witness the highest growth rate of 10.1% during the forecast period, owing to rise in the transportation of temperature sensitive products, such as medicines, drugs, vaccines, blood samples, and organs.
- The market is segmented on the basis of geography by North America, Europe, Asia Pacific, Latin America, and MEA.
- The Asia Pacific region is forecasted to witness the highest growth rate of 9.1% during the forecast period owing to developing healthcare & pharmaceutical industry in this region.
- Asia Pacific has been adopting and advancing itself in terms of technology, owing to the growing population; and rise in the number of people suffering from various deadly diseases.
- Key participants include Sonoco Products Company, Pelican BioThermal LLC, FedEx Corp, Cold Chain Technologies, Deutsche Post AG (DHL), AmerisourceBergen Corp, ACH Foam Technologies, Sofrigram SA Ltd, Testo SE & Co, Tempack and Cropak, WIKA Alexander Wiegand SE & Co, OMEGA Engineering, KIMO, Olympus Corporation, SKF, and ILLIG Maschinenbau GmbH & Co, among others.
- The companies have adopted various strategies including mergers, acquisitions, and partnerships to hold ongoing trails and come up with new developments in the market.
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Segments covered in the report:
For the purpose of this report, Reports and Data have segmented global Global Temperature Controlled Packaging Solutions Market on the basis of product, type, services type, end user, and region:
Products Outlook (Revenue, USD Billion; 2018-2026)
- Insulated containers
- Insulated shippers
- Refrigerants
Type Outlook (Revenue, USD Billion; 2018-2026)
- Active system
- Passive system
- Hybrid system
Services type Outlook (Revenue, USD Billion; 2018-2026)
- Airways
- Waterways
- Roadways
End users Outlook (Revenue, USD Billion; 2018-2026)
- Food & Beverages
- Healthcare & Pharmaceuticals
- Chemical & Materials
- Research Laboratories
Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2026)
- North America
- Europe
- UK
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
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