Temperature Controlled Packaging Solutions Market Value To Reach USD 21.36 Billion By 2028
The global Temperature Controlled Packaging Solutions Market is expected to reach USD 21.36 Billion by 2028, according to a new report by Reports and Data. This is mainly contributed by the growth of canned and packaged food in the food and beverage industry. Increasing disposable income and increasing purchasing power, as well as the emerging wastage control of food and medicines, will drive the growth of the market. Moreover, increasing trade of frozen food and drugs internationally, which require constant temperature control, will also fuel the growth of the market.
Temperature controlled packaging solutions are ideal for the transport of heat sensitive products in extreme conditions, such as through prolonged periods and intense heat. They provide the end users with higher performance, more efficiency than other insulating materials, better temperature maintenance, and a reduced thickness on the sides, which reduces the volume and weight of the cold source used. However, the volatile costs of raw materials, as well as high initial investment and maintenance costs, are expected to restrain the growth of the market.
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Companies considered and profiled in this market study:
Sonoco Products Company, Pelican BioThermal LLC, FedEx Corp, Cold Chain Technologies, Deutsche Post AG (DHL), AmerisourceBergen Corp, ACH Foam Technologies, Sofrigram SA Ltd, Testo SE & Co, Tempack and Cropak, WIKA Alexander Wiegand SE & Co, OMEGA Engineering, KIMO, Olympus Corporation, SKF, and ILLIG Maschinenbau GmbH & Co, among others.
Further key findings from the report suggest:
- The market is segmented on the basis of product into insulated containers, insulated shippers, and refrigerants.
- Insulated shippers account for the largest market share of ~45% in 2018, and is also forecasted to witness the highest growth rate of 8.6% during the forecast period.
- The cost-effectiveness of insulated shippers will have a positive impact on the growth of the segment.
- The market is segmented on the basis of services type into airways, waterways, and roadways.
- Waterways account for the largest market share of ~45% in 2018.
- Water transport is the cheapest and oldest form of transportation for bulky goods and cargoes.
- The market is segmented on the basis of end users into food & beverages, healthcare & pharmaceuticals, chemical & materials, and research laboratories.
- Healthcare & pharmaceutical industry is forecasted to witness the highest growth rate of 10.1% during the forecast period, owing to rise in the transportation of temperature sensitive products, such as medicines, drugs, vaccines, blood samples, and organs.
- The market is segmented on the basis of geography by North America, Europe, Asia Pacific, Latin America, and MEA…Continued
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Unfolding the prime factors prompting global market growth:
- The study offers an in-depth analysis of the product outlook, which depicts the latest production growth trends and profit valuation. It further fragments the global Temperature Controlled Packaging Solutions market into a broad product spectrum.
- The study covers essential data related to these products’ application landscape, the demand for and market share held by each application type, and their growth rate analysis over the estimated period.
- A detailed description of the distribution channels, including distributors, producers, and buyers, is one of the report’s key market highlights.
Key Benefits of Buying the Global Temperature Controlled Packaging Solutions Report:
- Comprehensive analysis of the changing competitive landscape
- The report offers an 8-year forecast and assessment of the Global Temperature Controlled Packaging Solutions Market
- Helps in understanding the key product segments and their estimated growth rate
- In-depth analysis of market drivers, restraints, trends, and opportunities
- Comprehensive regional analysis of the Global Temperature Controlled Packaging Solutions Market
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