Passive Temperature Controlled Packaging Market Size Growing at a CAGR of 9.1% by 2031

Passive temperature controlled packaging is a type of packaging used to maintain the temperature of temperature-sensitive products during transportation or storage. It is called passive because it does not require any external energy source, such as electricity or refrigeration, to maintain the desired temperature.

The passive temperature controlled packaging market size was valued at $10.3 billion in 2021, and is estimated to reach $24.5 billion by 2031, growing at a CAGR of 9.1% from 2022 to 2031. Increased R&D activities in the life sciences industry and surge in trade & production of pharmaceuticals, food & beverages, and chemicals have driven growth in passive temperature controlled packaging market. The ability of passive temperature controlled packaging to ship temperature-sensitive goods is a major factor driving the passive temperature controlled packaging market growth.

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Commonly, there are two product types of passive temperature controlled packaging available in the market, which are insulated shippers and insulated containers. Out of these, the insulated container segment accounted for the highest market share in 2021, owing to its large-scale usage, which is fueled by increasing international trade. On the basis of types of business, the market is bifurcated into warehousing and transportation. Out of these, the transportation segment accounted for highest revenue in 2021, owing to growth in global trade.

Furthermore, the market is analyzed with respect to different applications of passive temperature controlled packaging in food and beverage, pharmaceuticals, and other industries. Among these, the food and beverages segment registered higher revenue in 2021, owing to increasing demand for food and beverages. The market is mainly driven by the rise in temperature-sensitive goods industries, the rise in the e-commerce sector, and rapid industrialization, especially in developing countries. However, the negative environmental impact of passive temperature controlled packaging, especially the one with plastic-based insulations constraints the growth of the market.
Region wise, the passive temperature controlled packaging market share is analyzed across North America, Europe, Asia-Pacific, and LAMEA. In 2021, Asia-Pacific dominated the global market, in terms of revenue. Moreover, the market in Asia-Pacific is anticipated to grow with the highest CAGR, owing to growth in cold-chain logistics in the region.

Various developments in the passive temperature controlled packaging industry such as the introduction of sustainable, recyclable, and high-performing packaging, and others are expected to provide lucrative opportunities for the passive temperature controlled packaging market growth. Furthermore, key players in the passive temperature controlled packaging market adopted various strategies to sustain the harsh competition. For instance, in August 2021, Softbox Systems, a global innovator and provider of passive temperature control packaging, launched reusable Ultra-Low Temperature (ULT) shipper for Pfizer to distribute Ultra-Low Temperature vaccines and store them at Point of Use (POU) sites.

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Key Market Players:
Pelican Products, Inc. (Peli BioThermal Limited), Sonoco Products Company, Cold Chain Technologies, LLC, AmerisourceBergen Corporation, Deutsche Post AG, Sofrigam, Atlas Roofing Corporation (Atlas Molded Products), FedEx Corporation, Intelsius, CSafe (Softbox Systems)

Key Findings Of The Study
• The report provides an extensive analysis of the current and emerging passive temperature controlled packaging market trends and dynamics.
• Depending on product type, the insulated container segment dominated the passive temperature controlled packaging market, in terms of revenue in 2021.
• By business type, the warehousing segment is expected to grow with a higher CAGR.
• By application, the food and beverages segment dominated the passive temperature controlled packaging market, in terms of revenue in 2021.
• Asia-Pacific is projected to register the highest growth rate in the coming years.
• The key players within the passive temperature controlled packaging market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the passive temperature controlled packaging industry.
• The report provides an extensive analysis of the current trends and emerging opportunities in the market.
• In-depth passive temperature controlled packaging market analysis is conducted by constructing estimations for the key segments between 2022 and 2031.
• The report provides an extensive passive temperature controlled packaging market forecast analysis of the current trends and emerging opportunities of the market.

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