Pune India, Jan. 17, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the Temperature Controlled Packaging Solutions market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the Temperature Controlled Packaging Solutions market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as Product, Application, and Region. Apart from this, the key driving factors, restraints, potential growth opportunities, and market challenges are also discussed in the below paragraphs.
The significant players operating in the Global Temperature Controlled Packaging Solutions market are ACH Foam Technologies LLC, Sofrigram, Cryopak, Envirotainer, United Parcel Service of America Inc, onoco Products Company, Peli BioThermal Limited, FedEx, Cold Chain Technologies, AmerisourceBergen Corp among others. To achieve a substantial market share in the worldwide Temperature Controlled Packaging Solutions market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
The increased demand for fresh and frozen food globally is one of the key factors projected to drive the rise of the global market for temperature controlled packaging solutions. Globally, the demand for frozen meals has increased as a result of evolving lifestyles and busy schedules. Time limitations are the primary driver of the trend in consumer preferences toward ready-to-eat meals. These frozen items need to be delivered at a specific temperature due to the increase in the consumption of frozen meals and the expansion of temperature controlled packaging. Expense-intensive operations plague the packaging industry. If not kept under control, they might disrupt corporate operations. Growing apprehensions regarding the delivery of fresh food are also limiting industry expansion. It's possible that government prohibitions on the transportation of temperature-sensitive commodities like medications and pharmaceutical products and a lack of information about packing options in some developing countries would limit industry expansion. Furthermore, the ultimate barrier to market expansion and restraint is the higher starting costs for thermally regulated packaging. The market for temperature controlled packaging solutions is anticipated to increase success in pharmaceutical firms, focusing more on creating therapies and drugs for rare diseases. Major pharmaceutical firms are making large profits thanks to the development of vaccinations for rare diseases, particularly blood disorders, raising awareness, extending government initiatives, and enticing companies to supply orphan drugs for the world's rare diseases. New strategic partnerships and an increase in emerging markets will also act as industrial catalysts and offer promising opportunities for the market's development rate.
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Scope of Temperature Controlled Packaging Solutions Market Report:
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Product, Application, and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | ACH Foam Technologies LLC, Sofrigram, Cryopak, Envirotainer, United Parcel Service of America Inc, onoco Products Company, Peli BioThermal Limited, FedEx, Cold Chain Technologies, AmerisourceBergen Corp among others |
Segmentation Analysis
Insulated shipper is expected to be the fastest-growing segment in 2022.
The Product segment is Insulated container and Insulated shipper. The insulated shipper is expected to be the fastest-growing segment in 2022. The utility of shippers is expected to expand due to a wide range of applications in a number of industries, including chemical, food & beverage, and pharmaceutical. The continuing development of technology has raised the demand for insulated shippers. For instance, insulated shippers may now supply a range of temperatures at low distribution costs because to the use of phase change materials (PCMs) and vacuum-insulated panels (VIPs).
Food & beverage is expected to be the fastest-growing segment in 2022.
The Application segment is Food & beverage, Healthcare, and Others. Food & beverage is expected to be the fastest-growing segment in 2022. Due to rising worldwide food consumption, the food industry is increasingly in need of low-cost high passive temperature packaging solutions to transport and store massive amounts of perishable, processed, and frozen food. Solutions for cold chain packaging also maintain product freshness, keep food frozen at the proper temperatures, and stop delicate items like chocolates and confections from melting in transit. These components are expected to drive this segment's revenue growth throughout the course of the projected period.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for Temperature Controlled Packaging Solutions include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The North America region witnessed a major share. temperature controlled packaging extends the time perishable food goods may be stored before rotting by reflecting radiant heat that tries to penetrate the foil barrier. The favorable FDA regulations for the storage and transportation of pharmaceutical products are also expected to result in a rise in the demand for temperature controlled packaging. These factors are causing the market revenue to rise in this area.
Country Analysis
- Germany
Germany's Temperature Controlled Packaging Solutions Market size was valued at USD 0.12 billion in 2022 and is expected to reach USD 0.15 billion by 2030, at a CAGR of 3% from 2023 to 2030. The region's rapidly expanding pharmaceutical industry is driving up demand for temperature controlled packaging. The EU GDP Guidelines include special criteria for objects that are temperature-sensitive. Temperature-sensitive commodities must be transported between the manufacturer, wholesaler, and customer to ensure acceptable temperature conditions. These factors should increase the quality of life for temperature controlled packaging choices and thus drive market revenue growth in Germany.
- China
China’s Temperature Controlled Packaging Solutions Market size was valued at USD 0.25 billion in 2022 and is expected to reach USD 0.39 billion by 2030, at a CAGR of 6% from 2023 to 2030.
The demand for food, beverages, cosmetics, and personal care products has increased due to the population's rapid rise in per capita income. This rise in demand is anticipated to increase demand for temperature controlled packaging solutions and, in turn, drive market revenue development in this sector.
- India
India's Temperature Controlled Packaging Solutions Market size was valued at USD 0.08 billion in 2022 and is expected to reach USD 0.09 billion by 2030, at a CAGR of 2% from 2023 to 2030. India has seen huge growth in the production of perishable goods including fruits, vegetables, meat, and poultry products. Most of these goods must be carried and stored within specific temperature ranges since they are temperature-sensitive. This led to the development of the nation's most effective temperature controlled packaging. The growth of India's organized retail sector is the main driver of the market for temperature controlled packaging.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, The growth of the Temperature Controlled Packaging Solutions market is mainly driven by increasing demand for temperature controlled packaging across a variety of business sectors, including pharmaceuticals, food and beverage (F&B), cosmetics and personal care, and others.
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