The global temperature-controlled packaging solutions market is expected to reach $16,925 million by 2023, registering a CAGR of 10.2% during the forecast period.
The rise in disposable income has elevated the consumer lifestyle and shifted their preference toward products, such as canned food and luxury healthcare remedies, thereby supplementing the temperature-controlled packaging solutions market. In addition, growth in food & beverage sector, emergence of new technology, and increased product wastage control movements has driven the temperature-controlled packaging solutions market. Furthermore, the growth in healthcare industry and economic growth in the developing economies is projected to supplement the temperature-controlled packaging solutions market. However, high investment and maintenance cost and low incidence in rural areas hamper the temperature-controlled packaging solutions market growth.
This temperature-controlled packaging solutions industry is segmented on the basis of type, product, end user, and geography. Based on type, the market is bifurcated into active and passive. In 2016, passive accounted for maximum revenue with more than 60% market share. Such type of packaging solution allows bulk transportation of temperature sensitive products with lesser cost than the other type and hence, generated highest revenue in 2016.
The end user in temperature-controlled packaging solutions market includes food & beverage, healthcare, and others, in which food & beverage generated the highest revenue in the temperature-controlled packaging solutions owing to increased demand for fresh food specifically from health conscious consumers.
The temperature-controlled packaging solutions market depends on the economic stability of a particular region. Furthermore, with the advancements in technology and increase in consumer demands, leading market players have developed various technologies in different categories of temperature-controlled packaging solutions and adopted different strategies to combat competition.
The temperature-controlled packaging solutions market is analyzed across four regions?North America, Europe, Asia-Pacific, and LAMEA. North America is expected to dominate the global market during the analysis period due to the large demand from the U.S., Canada, and Mexico. The market in Asia-Pacific is expected to grow at a fastest rate due to increase in healthy lifestyle and cashflow in economies such as India, Japan, South Korea, and China.
The report includes comprehensive analysis of the key players in the temperature-controlled packaging solutions market such as Pelican BioThermal LLC, Sonoco Products Company, Cold Chain Technologies, Inc., FedEx Corp., AmerisourceBergen Corp., Deutsche Post AG (DHL), Sofrigram SA Ltd., ACH Foam Technologies, LLC, Tempack and Cropak, and Testo SE & Co.,
OMEGA Engineering, WIKA Alexander Wiegand SE & Co. KG, Olympus Corporation, KIMO, ILLIG Maschinenbau GmbH & Co. KG, and SKF are some of the other prominent players operating in the temperature-controlled packaging solutions industry.
This report provides an in-depth analysis of the global temperature-controlled packaging solutions market to identify the potential investment pockets.
It outlines the current trends and future scenarios to determine the overall market potential and gain stronger market foothold.
Key drivers, restraints, and opportunities are elucidated.
Quantitative analysis of the market from 2016 to 2023 is highlighted to recognize the financial competency of the market.
Porter’s Five Forces model illustrates the threat of new entrants, threat of substitutes, and strength of the buyers & suppliers.
KEY MARKET SEGMENTS
By End Users
Food & Beverage
Rest of Europe
Rest of Asia-Pacific
KEY MARKET PLAYERS
Pelican BioThermal LLC
Sonoco Products Company
Cold Chain Technologies, Inc.
Deutsche Post AG (DHL)
Sofrigram SA Ltd.
ACH Foam Technologies, LLC
Tempack and Cropak
Testo SE & Co.
THE OTHER PLAYERS IN THE MARKET INCLUDE THE FOLLOWING:
WIKA Alexander Wiegand SE & Co. KG
ILLIG Maschinenbau GmbH & Co. KG