The Global Passive Temperature Controlled Packaging Market size is projected to reach 11.78 Billion by 2026, at a CAGR of 9.6% from 2020 to 2026.
The global passive temperature-controlled packaging market is driven by the growth in food & beverage industry, and the rapid advancement pace on innovation in technology. The passive temperature-controlled packaging is anticipated to generate the highest revenue owing to its reusability and advance level of technology. Moreover, the growth of the healthcare sector growing in emerging economies around the world is fueling the growth of passive temperature-controlled packaging market. However, high cost of investment and maintenance and a very low incidence in rural areas act as a restraining factor for the temperature-controlled packaging solutions market growth.
Many key players such as Sonoco Products Company, Cold Chain Technologies, Pelican Biothermal LLC, Inc., FedEx Corporation, AmerisourceBergen Corporation, Cryopak, Deutsche Post AG, among others are actively participating in the development of temperature-controlled packaging solutions. For instance, recently in 2019, Cryopak released a new version of Mirador Express: 1.2.0 which is capable of delivering real-time temperature monitoring. The special feature is user friendly and a safe method for storing and calculating data. Earlier in 2018, Cold Chain Technologies (CCT), which is a leading provider of temperature-controlled delivery systems, launched the industry’s first integrated phase change material (PCM) pallet cover device- KoolTemp GTS Enshield.
Such developments in the market are anticipated to fuel the growth of the global passive temperature-controlled packaging market during the forecast period. Following the pandemic, packaging companies should rebalance sustainability objectives that fuse elevated cleanliness, standardize online business, and think about item cost. The effect of the pandemic will positively affect execution, in light of the fact that these new patterns will feature clients’ necessities across the business. The (COVID-19) pandemic is causing far and wide concern and financial difficulty for shoppers, organizations and networks across the globe.
Makers are confronting interesting difficulties brought about by the emergency, and bundling makers are no special case. Pulled between taking off requests for certain items (like bathroom tissue and other sterile items) and an unsure viewpoint for other people (like structure materials), organizations in the area should likewise explore the test of all the while protecting worker prosperity, overseeing possibly disturbed stockpile chains, and assessing turbulent financial and capital business sectors conditions. At a macro level, the divided idea of the stockpile side prompts industry challenges. Amounting to that will be that bundling as an item classification is unbranded. Together this makes a fair client experience with issues, for example, conflicting bundling quality and monotonous seller disclosure. For makers, this implies underutilized limits, conflicting cycles, and decreased edges. Outcome – an imperfect interest and supply framework with a huge opportunity to get better.
- August 1, 2019 – FedEx Express (FedEx), a subsidiary of FedEx Corp. (NYSE: FDX), announced improved temperature-controlled shipping services using cold shipping packaging for healthcare customers in Japan. The services enable FedEx to offer customers improved convenience, rigorous temperature control throughout the entire journey, and cost advantages.
- April 8, 2021, Pelican BioThermal has announced a new module on its School of Cool online learning platform, with an introduction to reusable and single-use shippers, including parcel and bulk shippers.
Based on type, it is further segmented into insulated shippers, insulated containers, refrigerants, and others. By application, it is categorized into healthcare, food & beverage, and others. The food & beverage sector dominates the temperature-controlled packaging solutions market owing to packaging that helps maintain the condition and nutritive value of the food & beverages in extreme conditions for later consumption. Passive temperature-controlled packaging is a preferred economical and effective solution used in the pharmaceutical sector for shipping of pharmaceutical products. The rise in need for cost-effective shipping of vaccines, particularly to remote geographies, offers a prominent push to global temperature-controlled packaging market growth.
Based on region, the Global Passive Temperature Controlled Packaging Market is segmented into Asia-Pacific, North America, Europe, the Middle East & Africa, and South America. North America dominates the market with the largest share in the global passive temperature-controlled packaging market owing to rapidly rising demand for frozen products and well-established infrastructure in large urban populations. Asia-Pacific is expected to grow at a fast pace with the highest CAGR globally owing to the rapid transition from a manufacturing and construction led economy to a consumer led economy.
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The key players operating in the Global Passive Temperature Controlled Packaging Market are Pelican BioThermal LLC (US), Sonoco Products Company (US), Cold Chain Technologies, Inc. (US), FedEx Corporation (US), AmerisourceBergen Corporation (US), Deutsche Post AG (Germany), Intelsius (UK), Softbox (UK), Sofrigam SA Ltd. (US), ACH Foam Technologies (US) and many others. The other prominent players in the temperature-controlled packaging solutions market include OMEGA Engineering (US), WIKA Alexander Wiegand SE & Co. KG (Germany), Olympus Corporation (Japan), ILLIG Maschinenbau GmbH & Co. KG (Germany), and SKF (Germany).
This research report provides insights into various levels of analysis, such as industry analysis and market share analysis for the leading industry competitors, along with their profiles. It also helps in studying the target segments by providing views on the emerging and high-growth segments. The market data comprises the basic assessment of the competitive scenarios and strategies in the global passive temperature-controlled packaging market, including high-growth regions and/or countries, and political and economic environments. The project report further provides both – historical market values and pricing and cost analysis.
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