BANGALORE, India, Aug. 9, 2023 /PRNewswire/ -- Temperature Controlled Packaging Solutions Market is Segmented by Type (Insulated Shippers, Insulated Containers), by Application (Temperature-Sensitive Pharmaceuticals, Vaccines): : Global Opportunity Analysis and Industry Forecast, 2023-2029.
The global Temperature Controlled Packaging Solutions Market size was valued at USD 4338.3 Million in 2022 and is anticipated to reach USD 7437.5 Million by 2029, witnessing a CAGR of 9.4% during the forecast period 2023-2029.
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Major Factors Driving the Growth of Temperature Controlled Packaging Solutions Market:
Increased demand for frozen foods and biopharmaceuticals, such as vaccines, enzymes, and others, which need a consistent temperature throughout their production to distribution cycle, is credited with driving the expansion of the sector for temperature-controlled packaging solutions. The strict requirements imposed on the food and beverage goods delivered both domestically and internationally are what are fueling the expansion of the U.S. market for temperature-controlled packaging solutions.
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TRENDS INFLUENCING THE GROWTH OF TEMPERATURE CONTROLLED PACKAGING SOLUTIONS MARKET
The nation's expanding pharmaceutical sector is a major driver of demand for temperature-controlled packaging options. This is due to the increased emphasis on biopharmaceuticals, which frequently require continual temperature control to preserve their fragile molecular structure and efficacy. Examples of these include vaccinations, gene treatments, and personalized medications. The demand for dependable temperature-controlled packaging solutions in the nation is on the rise as a result of the growing production and distribution of biopharmaceuticals. These factors are expected to drive the growth of the Temperature Controlled Packaging Solutions Market.
Utilizing temperature-controlled packaging has many advantages, one of which is that it will help to preserve the quality of the goods being delivered. If a product must be kept at a specific temperature for a particular purpose, not transporting it at that temperature can seriously compromise its overall integrity. You might have to spend a lot of money and effort on this, and most business owners don't have a lot of time to spare. These factors are expected to drive the growth of the Temperature Controlled Packaging Solutions Market.
Another element anticipated to fuel market revenue growth is the presence of suppliers around the globe. To suit consumer demand, logistic service providers have developed a variety of superior temperature-controlled systems. These solutions are backed by dependable express delivery, dry ice supply, real-time shipment status updates, regulatory approval, validation services, and project management. The materials used to make the packaging are recyclable, affordable, and good for the environment. These technologies also provide secure and legal transit in ambient, refrigerated, and frozen settings. Therefore, package performance uses suitable cooling materials to supply temperature for ranges of 20°C, 2–8°C, and 15–25°C for varied distribution durations. Thermally controlled packaging demand is anticipated to increase as a result. These factors are expected to drive the growth of the Temperature Controlled Packaging Solutions Market.
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TEMPERATURE CONTROLLED PACKAGING SOLUTIONS MARKET SHARE
With a market value share of close to 32%, North America is the region with the largest market for pharmaceutical temperature-controlled packaging solutions. Europe is in second place, behind North America, with a market value share of almost 29%. Another significant region for the manufacture of pharmaceutical temperature-controlled packaging solutions is Asia.
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Key Players:
There are numerous players in the world right now. The main market players are Sonoco Products Company, Envirotainer Ltd., Pelican Biothermal, Cryopak, DS Smith Pharma, Cold Chain Technologies, Intelsius,CSafe, Softbox Systems, World Courier, Skycell, Va-Q-tec AG,Sofrigam SA Ltd., American Aerogel Corporation, EcoCool GmbH, Aeris Dynamics, Dokasch, HAZGO, Beijing Roloo Technology CO.,Ltd, Insulated Products Corporation, Inmark Packaging, Cold Chain Tools, Exeltainer SL, Inno Cool Pvt Ltd, Cryo Store and so on.
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