Temperature Controlled Packaging Solutions Market Size, Share & Trends Report

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

  • Published Date: Apr, 2019
  • Base Year for Estimate: 2018
  • Report ID: GVR-2-68038-858-9
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2017
  • Number of Pages: 150

Industry Insights 

The global temperature controlled packaging solutions market size was valued at USD 9.6 billion in 2018. Rising demand for fresh and frozen food, coupled with increasing application in the pharmaceutical industry, is expected to propel growth of the market in future. Furthermore, rapid growth of the cold chain industry on a global level is expected to have a positive impact on the market growth.

Changing lifestyle and busy schedule have fueled the demand for frozen foods across the globe. Consumer preferences are shifting towards ready to eat meals due to time constraint. These frozen and ready to cook foods require specific temperature for their shipment. Therefore, favorable trend of the consumption of frozen foods is expected to promote the scope of temperature-controlled packaging. U.S., China, India, and Philippines are the countries with high demand for frozen food. Rising purchasing power of the South Asian countries including Bangladesh, Pakistan, and India has also been increasing the demand for convenient meals. Furthermore, over the past few years, increasing participant rate of women in workforce has promoted the scope of processed foods.

U.S. temperature controlled packaging solutions market

Growing health consciousness among consumers has boosted the demand for fresh fruits and vegetables over the world. Over the past few years, China and South Africa have witnessed significant growth for fresh foods. As a result, grocery retailers including supermarkets, hypermarkets, and convenient stores, have increased the investment for advanced packaging technology for fruits and vegetables.

Furthermore, Netherlands, U.K., and Belgium are the leading importers of fresh fruits and vegetables from developing countries. Banana is the most consumed fruits in the countries of U.S. and Europe. Therefore, the fresh fruit and vegetable suppliers across the globe are projected to use temperature controlled packaging solutions for their finished goods over the next few years.

Booming international trade and trade liberalization including North America Free Trade Agreement (NAFTA) and European Union Free Trade agreement (FTA) has boosted the logistic industry significantly. The transportation and packaging sector is a major part of this industry and it has been witnessing significant growth over the years.

Similarly, the cold chain industry is growing at a lucrative rate over the world on account of the expansion of the international trade of perishable goods. Technological development has fueled the growth of this industry and increased the demand for insulated packaging across the world.

Product Insights

Insulated shippers held the largest share of 56.3% in 2018. Wide range of the applications in several industries including pharmaceutical, food and beverage, and chemical, is expected to promote the utility of shippers. Constantly improving technology has been boosting the demand for the insulated shippers. For instance, implementation of phase change materials (PCMs) and vacuum insulated panels (VIP) technology has enabled the insulated shippers to offer a range of temperature with low distribution cost. These products have gained significant utility for the shipment of clinical and pharmaceutical products.

Insulated container generated a revenue of USD 4.2 billion in 2018. These containers are majorly used for the shipment of foods, chemical, biologic materials, blood, and organs. These containers are a crucial part of the cold chain to control and document the temperature of the entire distribution channel. 

Application Insights

Food and beverage emerged as the largest application segment in the temperature controlled packaging solutions market and accounted for 49.3% share in 2018. This growth is attributed to increasing demand for fresh and frozen foods across the world. In 2017, Germany imported fresh foods valued more than USD 12 billion. In the same year, India had exported around USD 1,459.9 million of fruits and vegetables including mangoes, walnuts, bananas, grapes, pomegranates, onions, bitter gourd, mushrooms, green chilies, potatoes, and okra.

Major importing economies of fruits and vegetables in India include Netherland, U.K., UAE, Bangladesh, Sri Lanka, Nepal, Malaysia, Qatar, and Saudi Arabia. In 2015, U.S. had exported total USD 6.3 billion fruit and vegetable while the import crossed USD 17.60 billion. The import value of the fresh, dried, and frozen fruit fruits and vegetables in U.S. has increased by 5% from 1990 to 2015. These favorable factors in the fresh fruits and vegetable industry are expected to expand the scope of packaging product forms in future.

The product demand in the healthcare industry is expected to witness the fastest growth, at a CAGR of 8.8% from 2019 to 2025. Extensive application reach of the pharmaceutical industry is fueling the demand for the product significantly. The U.S. Food and Drug Administration (U.S. F.D.A.) has specified thermal requirements for transportation, handling, and storage of the drugs. These containers meet the thermal and hygiene requirement of the healthcare products including drugs, vaccine, blood, and organs. Over the past few years, international health organizations including World Health Organization (WHO) have been emphasizing on the reduction of the vaccines waste. Furthermore, increasing initiatives to monitor vaccine wastage is expected to fuel the demand for the product in future.

Regional Insights

As of 2018, North America dominated the market with more than 40.0% share. High adoption rate of temperature packaging in the healthcare industry of U.S. and Canada is expected to remain favorable for the industry. Furthermore, rising importance of convenience foods among working class population of U.S. is expected to upscale the requirements of temperature controlled packaging.

Global temperature controlled packaging solutions market

Increasing demand for fresh fruits and vegetables is also driving the market in this economy. Technological improvement of the packaging industry not only ensures a long shelf life of fruits and vegetables but also maintains the nutritional value of the finished goods. Presence of a large number of frozen food producers in U.S. has fueled the demand for the product.

North America dominates the pharmaceutical industry in the world. Multinational companies including Johnson & Johnson; Merck &Co; and Pfizer Inc. hold a significant part of this industry. According to the Pharmaceutical Research and Manufacturers Association (PhRMA), pharmaceutical companies in U.S. hold majority of the intellectual property rights of the new medicines and conduct more than 50% of the pharmaceutical R&D. This booming industry is expected to increase the demand for the product in near future in this region.

Temperature Controlled Packaging Solutions Market Share Insights

Key industry participants include Cryopak Industries Inc.; DGP Intelsius; Cold Chain Technologies, Inc.; Envirotainer AB; Softbox Systems Ltd.; AmerisourceBergen Corporation; DHL International GmbH; Sonoco Products Company; Inmark Temperature Controlled Packaging; and APEX Packaging Corporation. Over the past few years, leading manufacturers in the industry are increasing spending on R&D to improve the product. For instance, in January 2019, Softbox Systems Ltd. launched new pallet as well as parcel shipping systems in the Temperature Controlled Logistics (IQPC) sector in London. The products include Tempcell ECO, Tempcell MAX, and Silverpod MAX. Among them, Tempcell ECO is 100% recyclable parcel shipper catering to the life science sector. These parcels are made of corrugated paper materials.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2014 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Million and CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa

Country scope

U.S., Germany, China, India, and Brazil

Report coverage

Revenue forecast, company share, competitive landscape, and growth factors and trends

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Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels, and provides an analysis on the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global temperature controlled packaging solutions market report on the basis of product, application, and region:

  • Product Outlook (Revenue, USD Million, 2014 - 2025)

    • Insulated container

    • Insulated shipper

  • Application Outlook (Revenue, USD Million, 2014 - 2025)

    • Food & beverage

    • Healthcare

    • Others

  • Region Outlook (Revenue, USD Million, 2014 - 2025)

    • North America

      • U.S.

    • Europe

      • Germany

    • Asia Pacific

      • China

      • India

    • Central & South America

      • Brazil

    • Middle East & Africa

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