Sluggish growth of the global temperature controlled packaging solutions market in the Japanese healthcare sector
Valley Cottage, NY -- (SBWIRE) -- 05/16/2019 -- While North America will continue to be the most attractive market, the temperature controlled packaging solutions market in Asia Pacific excluding Japan (APEJ) will witness steady gains.
According to a comprehensive analysis on the global temperature controlled packaging solutions market by Future Market Insights, companies seeking thermally-regulated packaging solutions for unhampered delivery of their products will continue to opt for insulated containers, with chest-type containers accounting for significant demand. However, during the forecast period 2016-2026, revenue share of insulated containers in the global market is forecasted to incur a minor decline, owing to increasing demand for PUR shippers, VIP shippers, and panels & envelopes.
"In terms of value, the US$ 6.4 billion temperature controlled packaging solutions market is projected to grow at an impressive 9.3% CAGR through 2026."
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- Future Market Insights
China will witness a 13.5% CAGR - the highest for any country globally, whereas India, Australia & New Zealand, and Japan will remain the other lucrative markets for temperature controlled packaging solutions in Asia Pacific.
Since food & beverage and healthcare companies are predominantly the largest end users of temperature controlled packaging solutions, manufacturers are focussing on incorporating advanced technologies, reusable insulating materials, and even collaborating transportation operations with third-party logistics companies. The use of temperature controlled packaging technologies will be principally concentrated in chilled applications over frozen applications. In 2016, about half of the global market value will be associated with temperature controlled packaging revenues garnered through chilled applications.
Prominent players in the global temperature controlled packaging solutions market, including Sonoco Products Company, Cryopak, and Pelican BioThermal are based in the US, strengthening the influence of North America in the global market. Sofigram SA Ltd. (France), Cold Chain Technologies (US), Saeplast (Iceland), and Snyder Industries Inc. (US) are some of the leading players in the global market profiled in Future Market Insights' research report.
Timeline on the competitive backdrop in the global temperature controlled packaging solutions market:
December, 2015: Cryopak advanced its packaging solutions for thermally-sensitive food shipments by introducing an enhanced single-use temperature monitor for regulating shipment temperatures
April, 2016: Pelican BioThermal extended its global cold chain network by setting up distribution partnerships in South American countries such as Brazil and Chile
May, 2016: Pelican BioThermal's packaging solutions for life science end users added Tribalco, LLC's innovative technology in mobile critical care blood transport
December, 2016: DHL Supply Chain collaborated with researchers to test validation of a new software that lowers carbon emissions during logistic operations
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In the report titled "Temperature Controlled Packaging Solutions Market: Global Industry Analysis & Opportunity Assessment, 2016-2026," Future Market Insights has included factors that define the growth of the global temperature controlled packaging solutions market in the coming decade. For instance, healthcare industries will continue to be deeply integrated with temperature-regulating packagers for transportation of biological products or new drug candidates that need complete isolation from the external environment. Meanwhile, existing global distribution chains will be willing to partner with companies that offer thermally-regulated packaging. High costs, growing popularity of rental packaging or per-trip basis logistic models, and a ramified intermodal conveyance system will act as major growth inhibitors for the global temperature controlled packaging solutions market.