The Latin America, Middle East and Africa Passive Temperature Controlled Packaging Market would witness market growth of 11.5% CAGR during the forecast period (2022-2028).
As the products of pharmaceuticals are becoming more sophisticated to cure complicated diseases, there will be a rise in need for the temperature-controlled containers and packaging services. The ageing of the world's population, particularly among the elderly, and the rise of both communicable and non-communicable diseases are major drivers of the pharmaceutical sector. As a result of their vital nature, both prescription and over-the-counter medications that are branded as temperature-sensitive are seeing an increase in demand.
The need for clinical trial supplies, lab samples, APIs, vaccines, and other products is rising as a result of significant investments made by different countries in life sciences research & development. As a result of this increase, numerous enterprises are growing in this industry. Also, to fulfil the rising demand for cargo shipping, numerous end-user verticals are rapidly forging strategic alliances with passive temperature controlled packaging producers.
The increasing communicable and non-communicable diseases and the rising population in various countries are acting as major factors supporting the growth of pharmaceutical industries. The increasing demand for prescription and non-prescription drugs that are highly sensitive to temperature and developing awareness about the importance of passive temperature packaging solutions to reduce the waste of food & beverages is highly affecting the expansion of passive temperature-controlled packaging market.
The primary growth factors for Saudi Arabia's frozen food sector are based on improved packaging that draws consumers in, support for preservation, and expanding strategies for extending the shelf life of the product. As consumers discover new ways to include frozen foods in their diets and local culinary explorations, their popularity is growing. With the rising demand for frozen food items in the region, the demand for efficient packaging technologies to avoid the risk of contamination of such products is also rising which is leading to the market growth of passive temperature controlled packaging in LAMEA region.
The Brazil market dominated the LAMEA Passive Temperature Controlled Packaging Market by Country in 2021; thereby, achieving a market value of $360.9 Million by 2028. The Argentina market is showcasing a CAGR of 12.1% during (2022 - 2028). Additionally, The UAE market would register a CAGR of 10.9% during (2022 - 2028).
Based on Product Type, the market is segmented into Insulated Containers and Insulated Shipper. Based on Business, the market is segmented into Transportation and Warehousing. Based on End Use, the market is segmented into Food & Beverages, Pharmaceuticals and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Passive Temperature Controlled Packaging Market is Predict to reach $18.1 Billion by 2028, at a CAGR of 9.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Sonoco Products Company, Deutsche Post DHL Group (The Deutsche Post AG), FedEx Corporation, AmerisourceBergen Corporation, Cold Chain Technologies (Aurora Capital Partners), Csafe Global (Softbox Systems), Sofrigam S.A., Atlas Roofing Corporation (Atlas Molded Products) (Hood Companies, Inc.), Intelsius (DGP Group) and Peli BioThermal Limited (Pelican Products, Inc.)
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