Temperature Controlled Packaging Market Size by 2031
The Temperature Controlled Packaging Market size is projected to reach US$ 115.6 billion by 2031 from US$ 34.3 billion in 2023. The market is expected to register a CAGR of 16.40% in 2023–2031. As the awareness for decarbonization is growing rapidly across the world, the preference for sustainable packaging is growing notably, which is one of the trends in the industry.
Temperature Controlled Packaging Market Analysis
Increased investments across the globe in cold packaging are one of the notable factors driving the market, especially in emerging countries. In March 2022, TemperPack announced the successful closing of US$ 140 million in funds for the development of sustainable cold chain packaging. This funding was led by Goldman Sachs Asset Management’s Sustainable Investing business along with Harbert Growth Partners, Tao Capital Partners, and Grosvenor Food & AgTech, among others. The company is using these funds to develop new sustainable packaging and expand protective materials technologies. In addition, government initiatives to increase the focus on sustainable packaging are another factor that is driving the market. The European Union is proposing the European Union Packaging and Packaging Waste Regulation, in which manufacturer will need to improve their portfolio and sourcing processes. Such above mentioned factors are projected to drive the market during the forecast period.
Temperature Controlled Packaging Market Overview
The temperature-controlled packaging market is projected to dominated by the North America owing to robust pharmaceutical and healthcare industry in the US. The pharmaceutical and healthcare industry is one of the sectors that have higher adoption of temperature-controlled packaging. As per the data published by the Centre for Medicare and Medicaid Services in 2023, US spending on healthcare increased by 4.1% in 2022, reaching US$ 4.5 trillion compared to 2021. In addition, as per the data published by the Harvard T.H. Chan School of Public Health, the US is a global leader in per capita drug spending that, represents approximately 40% of the global market. Such growth in the pharmaceutical industry in US is projected to drive the temperature-controlled packaging market in the North America region in the coming years.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Temperature Controlled Packaging Market: Strategic Insights
Temperature Controlled Packaging Market
-
CAGR (2023 - 2031)
16.40%
-
Market Size 2023
US$ 34.3 Billion
-
Market Size 2031
US$ 115.6 Billion
Market Dynamics
GROWTH DRIVERS
- High demand from the Pharmaceutical and Healthcare industry
FUTURE TRENDS
- Increasing awarness of Sustainability
OPPORTUNITIES
- Integration of digital technologies
Key Players
- Cold Chain Technologies Inc
- Pelican BioThermal LLC
- Sofrigram SA Ltd
- Sonoco Products Company
- Tempack Packaging Solutions
- Cryopak A TCP Company
- CSafe Passive Solutions
- Sorbafreeze Ltd
- Intelsius
- va Q tec
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Packaging Type
- Active and Passive
End-user
- Pharmaceutical
- Healthcare
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Temperature Controlled Packaging Market: Strategic Insights
-
CAGR (2023 - 2031)16.40% -
Market Size 2023
US$ 34.3 Billion -
Market Size 2031
US$ 115.6 Billion
Market Dynamics
- High demand from the Pharmaceutical and Healthcare industry
- Increasing awarness of Sustainability
- Integration of digital technologies
Key Players
- Cold Chain Technologies Inc
- Pelican BioThermal LLC
- Sofrigram SA Ltd
- Sonoco Products Company
- Tempack Packaging Solutions
- Cryopak A TCP Company
- CSafe Passive Solutions
- Sorbafreeze Ltd
- Intelsius
- va Q tec
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
- Active and Passive
- Pharmaceutical
- Healthcare
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Temperature Controlled Packaging Market Drivers and Opportunities
High demand from the Pharmaceutical and Healthcare industry
In the past few years, the pharmaceutical and healthcare industry has witnessed strong growth owing to increased drug consumption, investments, and an increased aging population. As per the data published by the World Health Organization in 2022, in 2020, the population of 60 years and older surpassed the total population of children younger than 5 years. Such factors are increasing the need for the pharmaceutical and healthcare industry which is leading to increased demand for the temperature controlled packaging ultimately driving the market.
Integration of digital technologies
Companies across the globe are taking extensive development initiatives to enhance the efficiency and effectiveness of temperature controlled packaging solutions. For instance, Sofrigam Group launched iBox in 2022, a temperature-controlled box that comes with Bluetooth connection, software, devices, and sensors to generate accurate reports. In addition, many other manufacturers are integrating sensors and devices in temperature controlled packaging solutions. Such development activities are projected to drive the market in the coming few years.
Temperature Controlled Packaging Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Temperature Controlled Packaging Market analysis are packaging type and end user.
- Based on packaging type, the Temperature Controlled Packaging Market is divided into active, and passive. The passive segment is further categorized into single-use and multi-use. The active segment held a larger market share in 2023.
- In terms of end-users, the market is categorized into pharmaceutical, healthcare, and others. The pharmaceutical segment to account for the largest share of the market in 2023.
Temperature Controlled Packaging Market Share Analysis by Geography
The geographic scope of the Temperature Controlled Packaging Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
Asia Pacific temperature-controlled packaging market is projected to account for the highest market growth during the forecast period. Countries such as China and India are taking various initiatives to expand their pharmaceutical industry. India is one of the fastest-growing pharmaceutical economies across the globe. As per the data published by the Indian government in 2023, the pharmaceutical industry in India is projected to reach US$ 65 billion in 2024 and US$ 130 billion by 2030. Such growth in the pharmaceutical industry in Asian countries is projected to create lucrative opportunities in the coming years.
Temperature Controlled Packaging Market Report Scope
Report Attribute | Details |
---|---|
Market size in 2023 | US$ 34.3 Billion |
Market Size by 2031 | US$ 115.6 Billion |
Global CAGR (2023 - 2031) | 16.40% |
Historical Data | 2021-2022 |
Forecast period | 2024-2031 |
Segments Covered |
By Packaging Type
|
Regions and Countries Covered | North America
|
Market leaders and key company profiles |
|
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Temperature Controlled Packaging Market News and Recent Developments
The Temperature Controlled Packaging Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for temperature controlled packaging and strategies:
- TemperPack successfully closed US$ 140 million in funding for expanding its capacity to expand its sustainable cold chain packaging. (Source: TemperPack, Press Release/Company Website/Newsletter, 2022)
- Cold Chain Technologies, LLC announced the CCT TheraShield, a dedicated product for the cell and gene therapy industry. (Source: Cold Chain Technologies, LLC, Press Release/Company Website/Newsletter, 2023)
Temperature Controlled Packaging Market Report Coverage and Deliverables
The “Temperature Controlled Packaging Market Size and Forecast (2021–2030)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Packaging Type ; End-user
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States