Temperature Controlled Packaging Solutions Market
Temperature controlled packaging solutions are predominantly used in the healthcare, food & beverages, and chemical industries for transportation and storage of temperature sensitive products at controlled temperature environment. Temperature-controlled packaging is required for shipping a wide range of goods, from perishable foods to pharmaceuticals, and it's especially important in situations where temperature-controlled warehousing and shipping aren't possible. Creating effective temperature controlled packaging, on the other hand, can be difficult to master, especially for small businesses.
Market Dynamics
The increasing government expenditure in the healthcare sector to improve medical facilities is expected to drive growth of the pharmaceutical industry in the near future. Due to growing pharmaceutical industry, the global temperature controlled packaging solutions market is expected to grow due to increased use of temperature control packaging solutions in the transportation of medicines, clinical trial distribution products, donor organs, and blood transfers. According to the World Health Organization, global healthcare spending was US$ 7.8 trillion in 2017 and US$ 1,080 per capita – up from US$ 7.6 trillion in 2016. This is expected to drive the growth of the global temperature controlled packaging solutions market. Furthermore, medical institutions across the globe are focused on developing COVID-19 vaccines, for which researchers need to transport clinical study materials and samples across the globe. According to the developers, mega-trials for vaccines can be carried out at hotspots such as India and Latin America. For international clinical trials, the vaccines are required to be stored for several weeks, while clearing customs. To ensure that vaccines remain effective, vaccine developers are also focusing on ensuring availability of right freezer farms where they can maintain the right temperatures to meet the vaccine’s requirements.
According to Coherent market insights, International trade catering to perishable food products has significantly increased. This can be prominently attributed to rising efficiency of reefer containers leading to an increase in sea freight in turn reducing costs. However, once the products arrive at the coastline, a prominent share of further distribution takes place through chest and upright insulated containers. Yogurt and cheese consumption has almost tripled over the last decade and owing to new product innovation coupled with entry of major food brands, the market seems lucrative over the next decade too. Most of these products are packaged in insulated containers for inter and intra city transportations.
Cold chain packaging, particularly for pharmaceuticals are exposed to rigorous climatic conditions, wherein the packaged pharmaceutical products are shipped through different modes of transportation including ocean transportation. This increases the risk of direct exposure of the packaged product to sunlight, increased dwell time on the dock and stress on the package due to other products in the container. As only a handful of manufacturers test their pharmaceutical packaging products to bear such stress, not all suppliers can meet client requirements. Therefore, a major portion of the industry is facing issues related to temperature controlled pharmaceutical packaging and product performance across different climatic conditions.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
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