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.
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.
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.
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.