Why Temperature Controlled Packaging Solutions has been a bust ?Posted by Mrudula Anil Karmarkar on April 6th, 2022 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. 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 The water-based model has been replaced by an internal barrier film to enhance thermal retention.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. Changing lifestyles and busy schedules 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 a specific temperature for their shipment. Therefore, a favorable trend of the consumption of frozen foods is expected to promote the scope of temperature-controlled packaging. U.S., China, India, and the Philippines are the countries with a high demand for frozen food. The 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 the workforce has promoted the scope of processed foods Have a Query? Ask Our Expert: https://www.grandviewresearch.com/inquiry/5837/ibb 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 a 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 a 100% recyclable parcel shipper catering to the life science sector. These parcels are made of corrugated paper materials. Temperature Controlled Packaging Solutions Market Report Highlights
Grand View Research has segmented the global temperature controlled packaging solutions market on the basis of product, application: Temperature Controlled Packaging Solutions Product Outlook (Revenue, USD Million, 2014 - 2025)
Temperature Controlled Packaging Solutions Application Outlook (Revenue, USD Million, 2014 - 2025)
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