SAN FRANCISCO, June 12, 2019 /PRNewswire/ -- The global temperature controlled packaging solutions market size is expected to reach USD 16.8 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 8.3% over the forecast period. Increasing demand for the frozen and fresh foods including fruits and vegetables, dairy products, beverages, bakery and confectionery, meat, and pre-cooked meals is expected to promote the market growth. Furthermore, increasing application of temperature controlled packaging for the shipment of drugs, vaccines, biologics, and biological samples in developed economies, including U.S. and Germany, is projected to have a strong impact on the growth.
Key suggestions from the report:
- On the basis of product, insulated shippers are expected to witness the fastest growth and register a CAGR of 8.7% from 2019 to 2025
- Food and beverage accounted for 49.3% share in the global temperature controlled packaging solutions market in 2018. The healthcare application segment is expected to witness the fastest growth and expand at a CAGR of 8.8% from 2019 to 2025
- North America held the largest share of more than 40% in terms of revenue in 2018. This is attributed to highadoption rate of temperature packaging in the healthcare industry of U.S. and Canada
- Key competitors in this industry include Cold Chain Technologies, Inc.; Cryopak Industries Inc.; Softbox Systems Ltd.; DGP Intelsius; AmerisourceBergen Corporation; DHL International GmbH; Envirotainer AB; Sonoco Products Company; APEX Packaging Corporation; and Inmark Temperature Controlled Packaging. Product innovation is expected to remain one of the key strategies adopted by industry participants over the next few years.
Read 150 page research report with TOC on "Temperature Controlled Packaging Solutions Market Size, Share & Trends Analysis Report By Product (Insulated Container, Insulated Shipper), By Application (Food & Beverage, Healthcare), And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/temperature-controlled-packaging-solutions-market
Asia Pacific is expected to witness significant growth in the upcoming years due to expansion of the pharmaceutical and food and beverage industries in emerging economies, including China and India. Furthermore, increasing number of organized retail has augmented the demand for food packaging in the abovementioned countries.
Innovation has been a crucial part of the industry. Over the past few years, manufacturers have been emphasizing on R&D of the products. For instance, in 2018, Softbox Systems Ltd introduced MAX range containers. The Tempcell MAX range containers are for single-use with improved coolant barrier system. The water-based model has been replaced by an internal barrier film to enhance thermal retention. However, Silverpod MAX is a recyclable coolant system with a solar barrier film. Similarly, in July 2017, Sonoco Products Company launched a new range of reusable packaging, ChillTech, for the shipment of pharmaceutical and biological products. It provides temperature control from 2 to 6 days.
Grand View Research has segmented the global temperature controlled packaging solutions market on the basis of product, application, and region:
- Temperature Controlled Packaging Solutions Product Outlook (Revenue, USD Million, 2015 - 2025)
- Insulated Container
- Insulated Shipper
- Temperature Controlled Packaging Solutions Application Outlook (Revenue, USD Million, 2015 - 2025)
- Food & Beverage
- Temperature Controlled Packaging Solutions Region Outlook (Revenue, USD Million, 2015 - 2025)
- North America
- Asia Pacific
- Central & South America
Find more research reports on Consumer Goods Industry, by Grand View Research:
- Electronic Soap Dispenser Market – The global electronic soap dispenser market size was estimated at USD 668.3 million in 2018 and is anticipated to expand at a CAGR of 6.0% during the forecast period. Rising demand for automatic faucets and smart bathroom products is driving the growth
- Biodegradable Cutlery Market – Increasing awareness regarding harmful effects associated with non-biodegradable plastic wastes is a key factor likely to drive the market in the forecast period.
- Dairy Packaging Market – rising importance of packaging material to avoid contamination and adulteration is anticipated to promote the product demand.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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