Temperature controlled Packaging Solutions for Pharmaceuticals Market is predicted to be worth $16,925 million by 2023

 

Active temperature-controlled packing systems are frequently utilized because they allow any amount of temperature-sensitive item to be transported. The use of a passive temperature-controlled packaging method allows for lower-cost bulk shipment. Because of its reusability and a high degree of technology, passive temperature-controlled packaging earned the greatest revenue in the global temperature-controlled packaging solutions business in 2016 and is expected to increase at the quickest rate over the projected period.

The temperature-controlled packaging solutions market is driven by growth in the food and beverage sector, an increase in the usage of canned food, the advent of new technologies, globalization, and rising product wastage control activities. Furthermore, expansion in emerging economies such as Asia-Pacific and Latin America, as well as in the healthcare sector, creates potential in the worldwide temperature-controlled packaging market. The expansion of the controlled Packaging Solutions for Pharmaceuticals Market is hampered by expensive investment and maintenance costs, as well as a low incidence in rural areas.

The global controlled Packaging Solutions for Pharmaceuticals Market was worth $8,648 million in 2016 and is predicted to be worth $16,925 million by 2023, growing at a CAGR of 10.2% from 2017 to 2023.

The temperature-controlled packaging solutions for Pharmaceuticals Market sector is divided into three categories based on the kind of end-user: food & beverage, healthcare, and others (chemicals and biothermal). The food and beverage industry relies on temperature-controlled packaging to transfer temperature-sensitive items from one location to another. Meat, dairy products, canned foods, and beverages such as cold drinks, milk, and others must be transported in temperature-controlled packaging. The rise in demand for temperature-controlled packaging solutions has been fueled by customers' increased desire for canned food goods.

Type, product, end-user, and geography are all segments of the worldwide temperature-controlled packaging solutions market. It is divided into active and passive categories based on its kind. Insulated containers and insulated shippers are the two types of insulated containers. It is divided into three categories based on the end-user: healthcare, food & beverage, and others. The food and beverage industry dominated the controlled Packaging Solutions for Pharmaceuticals Market, thanks to packaging that keeps food and beverages fresh and nutritious in high temperatures for later consumption. The temperature-controlled packaging solutions market is divided into four regions: North America, Europe, Asia-Pacific, and Latin America, and the Caribbean.

Pelican BioThermal LLC, Sonoco Products Company, Cold Chain Technologies, Inc., FedEx Corp., AmerisourceBergen Corp., Deutsche Post AG (DHL), Sofrigram SA Ltd., ACH Foam Technologies, LLC, Tempack and Cropak, and Testo SE & Co. are among the key players in the temperature-controlled packaging solutions market