Cold Chain Packaging Market
Cold Chain Packaging Market Size, Share & Trends Analysis Report by Product (Crates, Insulated Container & Boxes, Cold Packs, Labels Temperature Controlled Pallet Shippers), by Material (Insulating Material, Refrigerants), by Application (Fruits & Vegetables, Fruit & Pulp Concentrates, Dairy Products, Fish), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)
|Forecast Years for Cold Chain Packaging Market:||2022 - 2028|
|Historical Years for Cold Chain Packaging Market:||2016 - 2021|
|Revenue 2021 for Cold Chain Packaging Market:||USD 19.7 Billion|
|Revenue 2028 for Cold Chain Packaging:||USD 34.7 Billion|
|Revenue CAGR (2022 - 2028) for Cold Chain Packaging Market :||9.9%|
|Fastest Growing Region (2022 - 2028) for Cold Chain Packaging Market:||Asia Pacific|
|Largest Region (2021) for Cold Chain Packaging Market:||Europe|
The Global Cold Chain Packaging Market is valued at USD 19.7 Billion in the year 2021 and is projected to reach a value of USD 34.7 Billion by the year 2028. The Global Market is forecasted to grow exhibit a Compound Annual Growth Rate (CAGR) of 9.9% over the forecast period.
Any temperature-sensitive product, such as frozen foods, research samples, or pharmaceuticals, is considered a cold chain product. Maintaining the thermal integrity of temperature-sensitive products during transportation requires cold chain packaging. Active and passive packaging strategies can be used in cold chain packaging. Active packing designs are often leased shipping containers with a power supply, such as batteries or electricity, and a thermostat to control heating and cooling. To maintain a desired temperature inside the shipping container, passive packing configurations use insulated packaging such as polystyrene, polyurethane, or vacuum insulated panels and phase change materials (PCM). In recent years, the usage of reusable cold chain parcel and pallet delivery bins has increased, assisting pharmaceutical producers in transporting excessive high-value products to big markets around the globe.
Cold Chain Packaging is critical to the growth of global perishable goods trade and the global availability of food and medical supplies. Consumer demand for perishable foods is increasing, international trade is expanding owing to trade liberalization, and the organized food retail business is expanding, among other reasons fueling the market's growth. The market's growth is fueled by increasingly severe regulations, such as the successful implementation of the Food Safety Modernization Act (cold storage warehouse required to preserve food). Furthermore, increased demand from various industrial applications, such as the medical device and pharmaceutical industries, is driving the worldwide Cold Chain Packaging Market. Additionally, government laws governing the use of materials in Cold Chain Packaging are having an impact on the market.
There is also a great desire for more environmentally friendly designs, such as re-use programs, to reduce carbon emissions. Changing legislation and standards have an impact on the demand for temperature-controlled packaging. For example, the temperature profiles of ISTA (International Safe Transit Association) have changed in the last five years. The market is expected to be affected by such changes. However, recent price volatility in polystyrene has resulted in a price jump, which is expected to persist during the projected period due to an expanded imbalance between demand and supply. Furthermore, rising raw material costs are increasing the overall cost of the finished product.
The Cold Chain Packaging Market is segmented on the basis of Product, Material, and Application. On the basis of Product, the market is segmented into Crates, Insulated Container & Boxes, Cold Packs, Labels, and Temperature Controlled Pallet Shippers. On the basis of Material, the market is segmented into Insulating Material and Refrigerants. On the basis of Application, the market is segmented into Fruits & Vegetables, Fruit & Pulp Concentrates, Dairy Products, Fish, Meat & Seafood, Processed Food, Pharmaceuticals, Bakery & Confectionaries, and Others.
Below tree is interactive. You can click the nodes to get more information.
Based on Material-
With a sales share of over 57% in 2021, the insulated container & boxes category led the Cold Chain Packaging Market. A growing need for reusable insulated containers in a variety of sectors, such as vegetables, food processing, and fruits, is responsible for this increased market share. This industry is dominated by insulated containers and boxes, which are in high demand due to their reusability among food and pharmaceutical companies all over the world.
Based on Application-
The food segment held the largest proportion of the global market. Frozen foods, vegetables, fruits, fruit pulp, juices, drinks, dairy products, seafood, confectionery, and other agricultural produce are all transported in temperature-controlled cold chain packaging. Due to rising local and international food trade, the food category is predicted to dominate during the forecast period. The pharmaceutical market is the fastest growing internationally due to increased commerce of pharmaceuticals, vaccines, and other medical drugs. Pharmaceutical companies are investing heavily in cold pharmaceutical packaging solutions all around the world.
Europe Accounts for a Major Share of this Market During the Forecast Period
Europe is projected to acquire the largest market share with a share of 32.50%. The market for cold storage Packaging in Europe is dominated by Western European countries such as Germany, France, the United Kingdom, Italy, and Spain. In terms of sales, Europe's market was worth USD 6.40 billion in 2021. The temperature profile in Europe varies drastically from country to country. Innovative temperature monitoring and packing solutions are utilized to transport temperature-sensitive products. Central and Eastern European countries are expected to have more growth opportunities than Western countries as their economies develop and expand.
Key players operating in the Global Cold Chain Packaging Market include- Cascades Inc., Cold Chain Technologies, Creopack, Cryopak A TCP Company, Intelsius, Pelican Products Inc., Softbox, Sofrigam, Sonoco ThermoSafe, Va-Q-tec and others.
Segmentation of the Global Cold Chain Packaging Market:
Regions & Countries Covered
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST
analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market
attractiveness analysis by segments and North America, company market share analysis, and COVID-19
Frequently Asked Questions
the global demand for Cold Chain Packaging
in terms of revenue?
The global Cold Chain Packaging valued at USD 19.7 Billion in 2020 and is expected to reach USD 34.7 Billion in 2028 growing at a CAGR of 9.9%
are the prominent players
in the market?
The prominent players in the market are Cascades Inc., Cold Chain Technologies, Creopack, Cryopak A TCP Company, Intelsius, Pelican Products Inc., Softbox, Sofrigam, Sonoco ThermoSafe, Va-Q-tec.
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of 9.9% between 2021 and 2028.
the driving factors
fueling the growth of the market.
The driving factors of the Cold Chain Packaging include
- Growth in Pharmaceutical and Healthcare Sector to Boost the Market
region accounted for the
largest share in the market?
Europe was the leading regional segment of the Cold Chain Packaging in 2020.