Temperature Controlled Packaging Solutions Market Size, Share, Growth Analysis, By Type(Active Systems, Passive Systems), By Usability(Single, Reuse), By Revenue Type(Products, Services), By Product(Insulated Shippers, Insulated Containers), By End Use Industry(Pharma, Biopharma), By Region - Industry Forecast 2024-2031

Global Temperature Controlled Packaging Solutions Market size was valued at USD 40.74 billion in 2022 and is poised to grow from USD 48.24 billion in 2023 to USD 186.29 billion by 2031, growing at a CAGR of 18.4% during the forecast period (2024-2031).

Global temperature controlled packaging solutions market is highly competitive with the presence of local as well as global companies. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of global temperature controlled packaging solutions market. 'Sonoco Products Company', 'Pelican BioThermal', 'Cold Chain Technologies, Inc.', 'Sofrigam SA Ltd.', 'Softbox Systems Ltd.', 'ACH Foam Technologies LLC', 'Inmark Packaging', 'American Aerogel Corporation', 'Snyder Industries, Inc.', 'Cryopak Industries Inc.', 'Marken', 'Envirotainer AB', 'Va-Q-Tec AG', 'Intelsius Ltd.', 'DGP Intelsius LLC', 'va-Q-tec AG', 'CSafe Global', 'DoKaSch Temperature Solutions GmbH', 'Temptime Corporation', 'Topa Thermal Packaging, LLC', 'On September 26, 2022, Sonoco ThermoSafe, a unit of Sonoco Products Company, and United Cargo announced a global charter agreement for the new Pegasus ULD, a temperature-controlled bulk shipping container. The agreement enables pharmaceutical freight forwarders to access Pegasus ULD containers directly from United Cargo.', 'In 2021, DHL, a global logistics company, announced the launch of its new SmartSensor Express solution, a temperature monitoring system for high-value and temperature-sensitive shipments. The SmartSensor Express provides real-time temperature monitoring and alerts during transport, enabling proactive intervention to prevent temperature excursions.', 'In February 2020, Pelican BioThermal LLC announced the acquisition of NanoCool LLC. Thus, the company is engaged in the manufacture of temperature controlled packaging systems.'

The global temperature controlled packaging solutions market is expected to grow due to increasing demand for fresh and frozen food globally. Demand for frozen foods has increased globally due to changing lifestyles and busy schedules. Time constraint is the most important issue in changing consumer preferences toward ready meals. These frozen items require precise temperatures for delivery, and the development of frozen food consumption is expected to drive the growth of temperature controlled packaging.

Temperature sensitive pharmaceutical products, such as vaccines, are increasing the demand for more efficient temperature controlled packaging. Also, technologies such as temperature controlled packaging have the potential to create efficient and profitable sensitive drug supply chains and vaccination supply chains. Disruptions in the cold supply chain of temperature sensitive pharmaceuticals are causing vaccine waste globally. The World Health Organization (WHO) estimates that lyophilized vaccines account for 50% of annual global vaccine waste, while liquid vaccines account for 25%. Temperature sensitive vaccines must be kept at a constant temperature of 2°C-8°C to ensure their effectiveness.  A stable temperature should be maintained in the laboratory to ensure that the vaccines do not pose any health risks to patients. Temperature controlled packaging technology has been enhanced and advanced to reduce product waste, a major trend in the market. Moulded technical insulation foams are predicted to clear the way for efficient and economically sensitive drug and vaccine supply chains. Also, the World Health Organization (WHO) and the United Nations Children's Fund (UNICEF) have set standards and guidelines for production waste prevention.

On the basis of region, global temperature controlled packaging solutions market is divided into North America, Europe, Asia Pacific, Latin America, and MEA. North America dominated the global market by more than 40% of the revenue share. Temperature packaging is expected to continue to have a strong adoption rate in the healthcare industry in the United States and Canada. Also, the growing popularity of convenience foods among the working class population of the United States is projected to increase the demand for temperature controlled packaging. Increasing demand for fresh fruits and vegetables is also driving the market in this country. Technological advancements in the packaging industry not only prolong the shelf life of fruits and vegetables but also protect the nutritional value of the finished products. The significant number of frozen food manufacturers in the United States has increased demand for the product. North America dominates the global pharmaceutical industry. Johnson & Johnson, Merck & Co. and Pfizer Inc. are the major players in this market. According to the Pharmaceutical Research and Manufacturers Association (PhRMA), pharmaceutical corporations in the United States own the vast majority of new drug intellectual property and conduct more than half of pharmaceutical R&D. This growing industry is expected to increase product demand in the region during the forecast period.