PUBLISHER: Allied Market Research | PRODUCT CODE: 1225104
PUBLISHER: Allied Market Research | PRODUCT CODE: 1225104
The global passive temperature controlled packaging market size was valued at $10,286.1 million in 2021 and is projected to reach $24,462.0 million by 2031, registering a CAGR of 9.1% from 2022 to 2031. Passive temperature controlled packaging includes thermally insulated boxes and containers. Their insulation is typically made of organic or inorganic wool, expanded polystyrene, aluminum foil, vacuum insulated panel (VIP), polyurethane (PUR), and kraft paper. It helps in maintaining a conducive temperature for temperature-sensitive products so as to prevent spoilage during transportation.
The global population along with globalization is rising at a significant rate, which is estimated to drive up the global trade volumes of various products from across the industries including pharmaceutical, food & beverages, chemicals, and personal products industries. These industries produce or handle products that are sensitive to temperature other than specified. For instance, various lab samples, vaccines, and medicines tend to spoil in higher temperatures. In addition, food products lose their quality in higher temperatures. Thus, products from these sectors are typically stored and transported in a cold and dark environment. This is made possible by passive temperature-controlled packaging, resulting in the growth of the passive temperature controlled packaging market. In addition, innovative and sustainable passive temperature controlled packaging provides lucrative growth opportunities to the market. For instance, in March 2022, Cold Chain Technologies, LLC a global provider of thermal packaging solutions for the products from life sciences industry, acquired Packaging Technology Group. Packaging Technology Group produced sustainable and curbside-recyclable thermal packaging solutions for the life sciences industry.
The passive temperature controlled packaging market is segmented on the basis of product type, business, application, and region. By product type, the market is bifurcated into insulated shippers and insulated containers. By business, the market is categorized into warehousing and transportation. On the basis of application, it is fragmented into food & beverage, pharmaceuticals, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players that operate in the global market have adopted key strategies such as acquisition, product launch, and business expansion to strengthen their market outreach and sustain the stiff competition in the market.
Competition Analysis
Key companies profiled in the passive temperature controlled packaging market report include AmerisourceBergen Corporation, Atlas Roofing Corporation (Atlas Molded Products), Cold Chain Technologies, LLC, CSafe (Softbox Systems), Deutsche Post AG, FedEx Corporation, Intelsius, Pelican Products, Inc. (Peli BioThermal Limited), Sofrigam, and Sonoco Products Company.
Key Benefits for Stakeholders
By Product type
By Business
By End User
By Region