Temperature controlled packaging solutions market is estimated immense growth in the forecast period. Temperature controlled packaging is describes as process of storage and transportation of the temperature sensitive products starting from manufacturer to the end users. It is the manufacturer’s responsibility to ensure the quality of the perishable products in the whole process. Temperature controlled packaging provides the accurate temperature to the products and protect them from the external environments. The global temperature controlled packaging market is forecasted the potential growth. The factors such as the advancement of the technology, rising demand for perishable food products, dairy products, ready to eat meals, frozen foods, eggs, meat, other than that growth of pharmaceutical sector, changes in the consumers preferences, busy lifestyles, import-export activities, demand analysis, demand forecasting, etc. are driving the global temperature controlled packaging solutions market. Perishable food products require the accurate temperature controlled packaging in which the quality of the products is maintained. Businesses are more investing in the temperature controlled packaging solutions for the better storage and transportation of the products. Government is also supporting the infrastructure activities for the growth of the temperature controlled packaging market. As we know, the COVID-19 pandemic wisely impacted every trade. Temperature controlled packaging solutions provide the facility of storage of the products. Transportations of the drugs, vaccines, and medicines needed the temperature controlled packaging. So the market of temperature controlled packaging is estimated to register immense growth in the forecast period.
According to the report title, "Global Temperature Controlled Packaging Solutions Market Outlook, 2027", publish by Bonafide research, the market was valued at around USD 39 billion in 2021 and it is anticipated to grow with a CAGR of more than 9% during 2022 to 2027. The North America region is the dominating market in temperature controlled packaging solutions. The global temperature controlled packaging solutions market is segmented into major five regions: North America, Europe, South America, Asia Pacific, and Middle East & Africa. The market for temperature-controlled packaging solutions in North America is currently growing very fast and will also achieve immense growth in the forecast period. The main factor in the growing temperature-controlled packaging market in North America is the diet patterns of the people. Changes in lifestyle, changes in preferences, and busy lifestyles are the main factors for the growth of the temperature-controlled packaging solutions market in North America. USA is the leading country in the temperature controlled packaging solutions market. Top pharmaceutical and research companies are based in USA, so there is a high demand for the temperature controlled packaging solutions. The export of the vaccines and medicines require the temperature controlled packaging in the country. Government initiatives in the country also help for the growth of the market. Food consumption patterns and the demand for the quality products also affect to the demand for the temperature controlled packaging solutions market. Changes in the temperature of the products will affects to the quality of the product and increase the wastage. Research and development activities of the pharmaceutical industries lead to the high demand for the temperature controlled packaging.
Based on application, the temperature controlled packaging solution market is segmented into food, beverages, healthcare and others. The food segment is dominating the market with more than 31% of value market share. Fresh produce, dairy products, eggs, meat, canned food, frozen food are required the proper and efficient temperature controlled packaging. Temperature controlled packaging solutions keep products fresh, maintain frozen food at accurate temperatures, and prevent sensitive products from external temperature. The market of food and beverages are likely to grow in forecast period. Based on product type, market is segmented into insulated containers and insulated shippers. An Insulated Shippers provide thermal protection for products during transportation. Based on usability, market is segmented into single and reuse. Reusable packaging segment is anticipated to grow at a higher growth rate in the forecast period, due to their ability to reduce packaging waste. Industries are adopting the reuse segment for the effective temperature packaging and it reduces the evaporation of the carbon foot print in the environment. Growing the pharmaceutical industry will provide tremendous growth opportunities for this reuse segment. Based on the types, the market is segmented into active packaging and passive packaging. Active packaging covers the highest portion of the market share in global temperature controlled packaging solutions. Active packaging provides the accurate temperature for the products, according to the changing environment. Active packaging is costlier than the passive packaging segment. The passive system segment is also growing in recent time. Active containers have active temperature control and the temperature inside the container is maintained at a specific temperature range with electric cooling. The temperature accuracy provided by the active system is highest compared to the passive system. The active system is an expensive option and provides a stable temperature for long-distance shipment. The system can efficiently manage the delay caused in the supply chain. There is less possibility of temperature excursion with the availability of a power source.
In the Europe region, the temperature controlled packaging solutions market is growing because of the technological advancement. Also the growth of the e-commerce in the region is another factor for increasing demand of the temperature controlled packaging solutions market in Europe. The European temperature-controlled packaging market uses the sustainable temperature-controlled packaging solution, which has less impact on the environment. European commission prepared some regulations for the effective temperature controlled packaging solutions. The temperature controlled packaging market in South America is registering the immense growth because of the international trade. Booming in the export activities of the region will lead to the demand for the temperature controlled packaging solutions. Rapid globalization has also given a rise to the Europe temperature controlled packaging solutions market. The growth of e -commerce sales, increasing demand for the food and beverages will need the temperature controlled packaging solutions in the United Kingdom. Asia Pacific temperature controlled packaging market is driven by the growth of the pharmaceutical industries in the region. Technological advancement, clinical drug trails in India driving the market of the temperature controlled packaging solutions.
China temperature controlled packaging market is growing because of the demand of the perishable foods, meat, seafood and dairy products. These all require the efficient temperature controlled management. South Korea has seen the demand for the COVID-19 kit in all over the world and the transportation of the test kits requires the proper packaging. Brazil is one of the major exporters of the sugar, soya beans, and fruits worldwide. So Brazil is also growing in the temperature controlled packaging solutions market. The region of the Middle East & Africa is more depended on the imports. The imports of the food and other products require the efficient temperature controlled packaging solutions. Saudi Arabia is emerging as a transportation hub due to its central location in the GCC (Global cold chain) region and government impetus to transform the country into a logistics hub. Also the temperature tracking system can helps the manufacturer for maintain the quality of the products during the transportation. Transporting temperature-sensitive products, from food to vaccines poses a risk. The improper handling during the cold chain transport spoils food and renders medicines ineffective. It leads to concerns about the safety of consuming the products. In today’s logistics world, real-time tracking of the cold chain supply chain is in demand along with the international supply of cold chain temperature monitoring with the IoT Technology. Big pharmaceutical companies have a mix of products, shipping modes, and packaging techniques. They can track the products and maintain the quality during the transportation.
In order to reduce pharmaceutical product wastage, temperature-controlled packaging technology has been refined and advanced. Advancement such as moulded technical insulation foams, among other technologies, is expected to larger the way for efficient and profitable sensitive drugs and vaccine supply chains. Moreover, the World Health Organization (WHO) and United Nations Children's Fund (UNICEF) have established standards and product waste control guidelines.
The major players in temperature controlled packaging solutions market and some of the recent developments of these companies are listed below:
• In March 2021, Cold Chain Technologies planned to expand its temperature-controlled solutions in EMEA (Europe, the Middle East, and Africa) region by opening new regional headquarters in the Netherlands.
• In November 2020, Sonoco Products Company launched EOS line of parcel shippers. The product is recyclable temperature control packaging system. The product is made for life science and perishable food products.
• In November 2020, Cold Chain Technologies planned to open new facility in Lebanon, US for distribution of COVID-19 vaccines.
• In October 2020, Pelican BioThermal LLC introduced the new line of Golden Hour One, the new line of products for military. The product is smaller and is suitable to carry blood and platelets.
• In February 2020, Pelican BioThermal LLC announced the acquisition of NanoCool LLC (Albuquerque, New Mexico). The company is involved in production of temperature-controlled packaging systems.
• In January 2020, Sonoco Products Company acquired Thermoform Engineered Quality, LLC from ESCO Technologies, Inc (US). The company is a manufacturer of thermoformed packaging for health care and other markets.