Passive Temperature Controlled Packaging Solutions Market: Overview
The transport and shipping of temperature sensitive products is a key underpinning for the stead evolution of demand in the passive temperature controlled packaging solutions market. The popularity of these solutions have surged in recent years. The cost of availing the services has come down substantially. Expansion of the sold chain business and cold storage solutions is a key trend boosting the passive temperature controlled packaging solutions market. In many of the applications, passive temperature-controlled packaging solutions are increasingly being preferred over active ones.
Through insulated containers are a popular segment currently, in due course of time insulated shippers are expected to gain substantial market shares. Depending on the end-use industry, expanded polystyrene (EPS) based shippers and vacuum insulated panel (VIP) shippers are potentially remunerative segments in the passive temperature controlled packaging solutions market. A variety of solutions have come where portability, weight, and temperature ranges are key characteristics for solution developers and end users.
Passive Temperature Controlled Packaging Solutions Market: Key Trends
Strides made in cold storage industry are expanding the outlook of the passive temperature controlled packaging solutions market. A sizable share of revenues have come from just two sector: pharmaceutical and food packaging. Expanding demand for temperature sensitive pharmaceutical products across geographies has spurred the adoption of passive temperature controlled packaging solutions.
Rising demand for perishable food products, especially meat products, has fueled the sales in passive temperature controlled packaging solutions market. Another key undercurrent to the expansion of demand has come from the growing demand for specialty products. Growing adoption of the technology for maintaining the integrity of rare disease drugs is boosting the prospects in the generation of new avenues in recent years. Further, the demand for cost-effective transport of vaccines has boosted new revenue potential for solution providers.
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Passive Temperature Controlled Packaging Solutions Market: Competitive Development Analysis and Key Developments
Vendors are keen on reducing the overall cost of shipping for end users. New entrants, emerging players, and established players are keen on tracking the changing demand dynamic in specialty pharmaceutical industry. Leading providers have eyed lucrative avenues in developing regions of the world, Asia being a prominent example. Government regulations are also keen on making the delivery of pharmaceuticals to remote regions. This has also spurred developers to come out with new brand proposition strategies to meet different target segments.
In recent years, key players have entered into partnerships and distribution agreements to expand their regional footprint. Top players are constantly committing sizable dollars to bring improvements in technologies.
Some of the key players in the passive temperature controlled packaging solutions market are ACH Foam Technologies, GEBHARDT Logistic Solutions GmbH, and Sonoco Products Inc.
Passive Temperature Controlled Packaging Solutions Market: Regional Assessment
On the regional front, Asia Pacific has seemed to earn massive attention among solution providers and end users. The growth prospects have been substantially fueled by the growing adoption of such solutions for the transportation of frozen food and the transportation and logistics of specialty pharmaceutical products. Product wastage control strategies adopted by governments and industry players for rare medicines are key to expanding avenue in the passive temperature controlled packaging solutions market. Another regional market that has witnessed vast uptake of such solutions is North America. Wide adoption of the passive temperature controlled packaging solutions for vaccines and specialty drugs have boosted the market.
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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.