Press release
Passive Temperature-Controlled Packaging Solutions Market: Insulated Containers Product Type Segment to Lead in Terms of Market Share
Temperature controlled packaging solutions are predominantly used in the healthcare, food & beverages and chemical industries for transportation and storage of temperature sensitive products at a controlled temperature environment. Stringent regulation regarding goods distribution practices of perishable pharmaceutical and food products have led to a wide-scale adoption of temperature controlled packaging solutions. A large segment of bio-pharma and bio-similar products require temperature assured packaging (TAP), to maintain the efficacy of the product. Further, increasing healthcare norms in many developed countries is increasing the share of pharmaceuticals which require controlled room temperature (CRT) throughout the transit period. In the F&B industry, perishable food products particularly meat, fish, dairy products, specialised foods, etc. require strict temperature control to maintain the product quality. An insulated container coupled with coolants or a refrigerated truck is widely incorporated for the purpose of inter/intra city transportation of these products. Temperature controlled packaging is also used for the transportation of small quantities of speciality chemicals that are otherwise unstable and require strict temperature control throughout their life cycle.Fill the form to gain deeper insights on this market @ https://www.futuremarketinsights.com/reports/sample/rep-gb-5073
Market Value and Forecast
The global passive temperature-controlled packaging solutions market is estimated to be valued at US$ 7,613.6 Mn by the end of 2017 and is expected to expand at a 9.0% CAGR over the forecast period (2017–2027), to be valued at US$ 18,046.6 Mn by the end of the forecast period.
Market Dynamics
Passive temperature-controlled packaging solutions consists of specially designed packaging shippers and containers that maintain a controlled temperature environment to limit exposure of the packed product to high or low temperatures during transit. In recent years, the need for transporting specialised pharmaceutical products globally has significantly risen, and so the need for its packaging and logistics solutions. This coupled with rising demand for biologics and adherence to strict regional goods distribution practices (GDP’s), is primarily fuelling the demand for passive temperature-controlled packaging solutions for pharmaceuticals. Rising demand for perishable products such as meat, fish and dairy products in Asia Pacific, coupled with increasing preference towards frozen food globally is igniting local as well as global logistic chains catering to the F&B industry, and as these products require strict temperature assurance during transportation, they contribute significantly to the rising revenues of the global passive temperature-controlled packaging solutions market. However, high cost of advanced Temperature Controlled Packaging (TCP) solutions restrain those to be utilised for cheaper pharmaceutical products, and hence poses a significant restraint for the growth of passive temperature-controlled packaging solutions globally. This coupled with increasing preference towards rental and reusable packaging solutions is further shifting revenues from the sales of passive temperature-controlled packaging solutions on a down side.
Manufacturers in the global passive temperature-controlled packaging solutions market have increasingly focussed on adoption of vacuum insulated panels (VIP), as demand for solutions catering to longer transit durations significantly increases. Furthermore, coping up with growing regulatory pressure and simultaneously remaining economic has also led many passive temperature-controlled packaging solutions providers to introduce reusable packaging solutions in recent years. The global passive temperature-controlled packaging solutions market is also witnessing rapid innovation in advanced temperature monitoring tools, with increasing ability to monitor temperature in real time throughout the transit period. Moreover, with the advent of economic inorganic Phase Change Materials (PCMs), most temperature controlled packaging solutions providers have started offering PCM equipped packaging solutions. A recent trend observed in the temperature-controlled packaging solutions market is the focus of food and pharmaceutical manufacturers on outsourcing packaging and transportation of temperature sensitive products to third party logistics companies. Additionally, growing demand for passive temperature-controlled packaging solutions in developing countries has led many global passive temperature-controlled packaging solutions providers and 3PL’s to expand their passive temperature-controlled packaging solutions offerings in countries such as China, India and Indonesia.
Browse Market Research Report @ https://www.futuremarketinsights.com/reports/passive-temperature-controlled-packaging-solutions-market-092017
Market Segmentation by Product Type
On the basis of product type, the market is categorised into Insulated Shippers, Insulated Containers and Others segment. Insulated shippers segment is further sub-segmented into Envelops & Panels, Expanded polystyrene (EPS), Polyurethane (PUR), Vacuum Insulated Panels (VIP) and others. Insulated containers segment is sub-segmented into chest and upright types. Among all the segments, the insulated containers segment is expected to dominate during the forecast period. This can be attributed to the importance of insulated containers in cold chain logistics. The perishable goods and pharmaceutical products in bulk can be efficiently transported using insulated containers.
Market Segmentation by Application
On the basis of application, the market is categorised into Frozen, Chilled and Ambient. Among all these segments chilled application segment is most attractive and expected to dominate the global passive temperature-controlled packaging solutions market over forecast period. Growing demand for chilled applications in food & beverages worldwide is the main influencing factor. Significantly changing temperature profiles across different geographies like Middle East and European regions push supply chain partners to use temperature-controlled packaging for perishable products and pharmaceuticals.
Market Segmentation by End Use
Based on end use, the global passive temperature-controlled packaging solutions market has been segmented into pharmaceuticals, food & beverages and others. The food & beverages segment is expected to make the most use of passive temperature-controlled packaging in the form of packaging for perishable fruits, vegetables, ready to eat foods, dairy products, fresh poultry, meat and seafood. The pharmaceutical industry is expected to grow at a healthy growth rate over forecast period. The food & beverages segment is expected to dominate the other segments and the segment is projected to expand at a CAGR of 8.6% over the forecast period. Tough competition is expected between the pharmaceuticals and food & beverages segments for market dominance.
Key Regions
In this report, the global passive temperature-controlled packaging solutions market has been segmented into seven major regions namely North America, Latin America, Eastern Europe, Western Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East & Africa (MEA). Globally, in terms of revenue, Western Europe and Eastern Europe will together dominate the market throughout the forecast period. North America is estimated to account for the highest share of 24.5% in 2017, followed closely by Asia Pacific Excluding Japan (APEJ), which is estimated to account for a share of 22.4%. Meanwhile, revenue from the market in Latin America is expected to expand at CAGR of 9.7% over the forecast period. Moreover, Latin America, APEJ and MEA are expected to be the most favourable regions in terms of incremental opportunities lying ahead for high revenue generation. The mature markets i.e. North America and Western Europe are likely to create a substantial demand for passive temperature-controlled packaging solutions.
About FMI
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