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Temperature Controlled Packaging Solutions Market Size

  • Report ID: GMI8746
  • Published Date: Mar 2024
  • Report Format: PDF

Temperature Controlled Packaging Solutions Market Size

Temperature Controlled Packaging Solutions Market was valued at over USD 35 billion in 2023 and is estimated to register a CAGR of over 15% between 2024 & 2032. The surge in e-commerce, particularly for perishable goods and pharmaceuticals, has necessitated robust temperature controlled packaging solutions that can withstand the rigors of last-mile delivery while maintaining product integrity.

 

According to the U.S. Census data, the U.S. retail e-commerce sales for the fourth quarter of 2023 were over USD 285.2 billion, an increase of over 7.5% as compared to the fourth quarter of 2022. Also, the online pharmacy sector has seen substantial growth, fueled by the convenience of home delivery and the rising demand for over-the-counter and prescription medications. Many pharmaceuticals including vaccines and biologics are temperature-sensitive and require temperature-controlled packaging to ensure their efficacy and safety until they reach the consumer.
 

The expansion of cold-chain logistics globally, fueled by globalization and trade liberalization, is also a significant growth driver. As more products are shipped across greater distances, the need for effective temperature-controlled packaging solutions to ensure product integrity during transit becomes paramount.

The development, production, and operation of temperature-controlled packaging solutions often involve significant costs associated with advanced materials and technologies such as phase change materials, high-performance insulation, and smart sensors for temperature monitoring. The development and production of these components can be expensive, contributing to higher initial costs for these packaging solutions compared to standard packaging options. For businesses, especially Small- & Medium-sized Enterprises (SME), these high costs can be a major barrier to adoption. Maintaining specific temperature ranges during storage and transportation requires energy, especially for active cooling systems. The infrastructure needed for charging or powering these systems, along with the energy consumption costs, adds to the operational expenses of using temperature-controlled packaging solutions.

Authors: Suraj Gujar , Sandeep Ugale

Frequently Asked Questions (FAQ) :

Market size for temperature controlled packaging solutions crossed USD 35 billion in 2023 and is expected to register over 15% CAGR from 2024-2032 owing to the surge in e-commerce, particularly for perishable goods and pharmaceuticals worldwide.

Temperature controlled packaging solutions industry from the insulated container segment recorded over 40% share in 2023 and is expected to register an appreciable CAGR from 2024-2032 due to their high versatile ability to adapt to a wide range of temperature-sensitive products.

North America temperature industry held over 30% share in 2023 and is expected to register a commendable CAGR from 2024-2032 due to presence of advanced healthcare infrastructure and high healthcare spending in the region.

Sonoco Products Company, VA-Q-TEC AG, Cold Chain Technologies, LLC, Pelican BioThermal LLC, CSafe, LLC, and Sofrigam SA, are some of the major temperature controlled packaging solutions companies worldwide.

Temperature Controlled Packaging Solutions Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 333
  • Countries covered: 21
  • Pages: 250
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