Jersey City, New Jersey, June 03, 2021 (GLOBE NEWSWIRE) — Verified Market Research recently published a report, “Temperature Controlled Packaging Solutions Market” By Type (Active Systems and Passive Systems), By Usability (Single Use and Reuse), By Product (Insulated Containers, Insulated Shippers and Refrigerants), and By Application (Food and Beverage, Healthcare and Others), and By Geography. According to Verified Market Research, the Global Temperature Controlled Packaging Solutions Market was valued at USD 28.5 Billion in 2020 and is projected to reach USD 103.18 Billion by 2028, growing at a CAGR of 17.50% from 2021 to 2028.
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202 – Pages
126 – Tables
37 – Figures
Global Temperature Controlled Packaging Solutions Market Overview
An important driver for the growth of the Global Temperature Controlled Packaging Solutions market is the growth in the Bio-Pharmaceutical Market. The bio-Pharmaceuticals market is expected to grow at a rate of around 7% from 2021-26, and at present is a market worth around 300 billion. Organs, Blood, Plasma, and vaccines need a specific temperature for shipping, maintaining which is of prime importance as it directly affects the quality of the medicines. Hence, growth in the Biopharmaceutical market acts as a growth driver for the temperature-controlled packaging solutions market.
Another reason for the growth of the market is the rapid expansion of the frozen foods market. The frozen markets market is approximately worth around 240 million and is projected to grow at a CAGR of more than 4.5%. Frozen foods also have a specific temperature requirement when shipping, which cannot be met by a supply chain transporting products at ordinary temperatures. Frozen food must be maintained at 0°F air temperature while the internal product temperature should never exceed 10.0°F.
Key Developments in Temperature Controlled Packaging Solutions Market
• Softbox supported Pfizer with the development of the specialized and reusable ultra-low temperature (ULT) shipper to help them on the distribution of ultra-low temperature vaccines and storing them at Point of Use (POU) sites in April 2021.
• Softbox, a leading global innovator, and provider of temperature control packaging solutions for the pharmaceutical, life science, and cold chain logistics industries, launched Tempcell™ ECO — in the U.S., in October 2020. Tempcell™ ECO is composed of corrugated cardboard and uses Softbox’s Thermaflute™, a patent-pending, a plastic-free design that creates an insulating barrier and delivers thermal efficiencies similar to those of traditional expanded polystyrene shippers.
The major players in the market are Sonoco Products Company, Va-Q-Tec AG, Cold Chain Technologies, LLC, FedEx Corporation, United Parcel Service, Inc., DGP Intelsius GMBH, Softbox Systems, Pelican BioThermal LLC, Envirotainer AB, Sofrigam SA among others.
Verified Market Research has segmented the Global Temperature Controlled Packaging Solutions Market On the basis of Type, Usability, Product, Application, and Geography.
- Temperature Controlled Packaging Solutions Market by Type
- Active Systems
- Passive Systems
- Temperature Controlled Packaging Solutions Market by Usability
- Temperature Controlled Packaging Solutions Market by Product
- Insulated Containers
- Insulated Shippers
- Temperature Controlled Packaging Solutions Market by Application
- Food and Beverage
- Temperature Controlled Packaging Solutions Market by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
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