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Global Temperature Controlled Packaging Market – Industry Size & Forecasts 2024-2032

The global temperature controlled packaging market size was worth around USD 14.2 billion in 2021 and is predicted to grow to around USD 40.9 billion by 2030 with a compound annual growth rate (CAGR) of roughly 12.5% between 2022 and 2030.

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➤ The market growth is being driven by the growing demand for temperature-controlled packaging in a variety of industries.

Over the forecast period, the market is anticipated to experience development due to the growing demand for temperature-controlled packaging in a variety of industries, including pharmaceuticals, food and beverage industry, and chemicals. These products are employed in the pharmaceutical industry to ensure that medicines are transported at a specific temperature, which is essential for preventing injury. For example, the appropriate temperatures for vaccine storage are -20°C, -60°C, and -80°C (dry ice). The more prevalent temperature range is 2-8°C. Furthermore, these products are employed in the food and beverage industry to preserve the shelf life of frozen foods, including bakery and livestock. Consequently, the global temperature-controlled packaging market is expanding due to the increasing prevalence of temperature-controlled packaging in a variety of sectors.

➤ The market development is being impeded by the volatility of crude oil prices.

Polyurethane, polystyrene, and other basic materials are frequently employed to manufacture temperature-controlled packaging. Consequently, fluctuations in crude oil prices influence the cost of basic materials necessary for the production of temperature-controlled packaging. The volatility in crude oil prices also serves as a substantial impediment to market expansion, resulting in an increase in the cost of temperature-controlled packaging.

➤ The pharmaceutical industry is placing a greater emphasis on the development of medicines and remedies for rare diseases.

The global temperature-controlled packaging market has the potential to expand due to the increasing utilization of advanced technologies in the pharmaceutical sector. Furthermore, the digital platforms supervise temperature, vibration, and other variables during the transmission of cold chain payloads. The market expands more rapidly when information such as flight schedules, weather, and the assurance of prompt delivery of products is made available.

➤ The market development is significantly impeded by a lack of awareness and a high capital investment.

Passive temperature control packaging solutions are becoming increasingly popular. However, the market’s expansion is significantly impeded by factors such as the high initial costs of thermally controlled packaging, a lack of awareness regarding packaging options in certain developing nations, and stringent government regulations regarding the shipment of temperature-sensitive products, such as pharmaceuticals and drugs.

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The Global Temperature Controlled Packaging Market is segmented based on product, application and region

Global Temperature Controlled Packaging Market: Product Segment Analysis

● Insulated Shippers
● Protective Packaging
● Insulated Containers
● Refrigerants
● Others

Global Temperature Controlled Packaging Market: Application Segment Analysis

● Healthcare & Pharmaceuticals
● Food and Beverages
● Cosmetics and Personal Care
● Chemicals
● Others

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The global Temperature Controlled Packaging market profiles key players such as:

● Cold Chain Technologies
● Sonoco Products Company
● Va-Q-Tec AG
● Pelican BioThermal Limited
● Softbox
● Sofrigam SA
● Intelsius
● Inmark Global Holdings LLC
● Envirotainer
● FedEx
● United Parcel Service of America Inc

???? Recent Developments:

• Cold Chain Technologies, LLC, a portfolio company of Aurora Capital Partners and a leading global provider of thermal packaging solutions for the transportation of temperature-sensitive products, acquired Packaging Technology Group, LLC in March 2022. Packaging Technology Group, LLC is a top supplier of environmentally friendly, curbside-recyclable thermal packaging solutions for the life sciences sector.

• To meet the increasing demand for environmentally responsible packaging for temperature-sensitive pharmaceuticals, Sonoco ThermoSafe, a division of Sonoco, a producer of temperature assurance cold chain packaging, is expanding its Orion Rental packaging program in the United Kingdom in December 2022. UK healthcare organizations are now able to access an expanding selection of biologics, vaccines, and clinical supplies, as well as other healthcare products that require transportation at specific temperatures, through the Orion reusable rental packaging initiative.

➤ In 2021, North America maintained the highest revenue share.

North America maintained the largest revenue share in 2021 and is anticipated to maintain a substantial portion of the global temperature-controlled packaging market during the forecast period. The region’s expansion is primarily due to the growing demand for frozen food and the proliferation of online retailing platforms, particularly in countries such as the United States and Canada. For example, the American Frozen Food Institute (AFFI) and FMI anticipate that frozen food will generate $65.1 billion in retail sales in 2020, a 21% increase from the previous year.

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