Cold Chain Packaging Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Cold Chain Packaging Market is segmented By Material Type (Expanded polystyrene, Vacuum insulated panel, Polyurethane, Others), By Application (Pharmaceutical packaging, Food packaging, Medical devices, Agricultural products, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Cold Chain Packaging Market Overview

The Global Cold Chain Packaging Market report provides an analysis of the market size, current trends, competitive landscape, and future market outlook. The demand for cold chain packaging is increasing due to the growth of pharmaceuticals and the need for temperature-sensitive products to be transported safely. The market is witnessing a surge in demand from the Asia-Pacific region. The competitive rivalry is intensifying with major players such as Amcor Limited, Sonoco Products Company, Sealed Air Corporation and others actively operating in the market.

• A cold chain is a temperature-controlled supply chain. It is a series of activities such as refrigerated production, storage, and distribution, along with associated equipment and logistics, which maintain the desired low temperature.

• The quality of service in cold chains majorly depends on the increasing investments in modern technology and equipment, especially the cold chain packaging solution. Over the last decade, highly competitive markets, such as the pharmaceutical market is facing economic hardships, and hence, companies were looking for different methods to improve product packaging strategies through effective packaging techniques such as cold chain packaging.

Cold Chain Packaging Market Scope

To Get a Free Sample Click here

Cold Chain Packaging Market Dynamics

• Growing stringent regulations such as the effective implementation of the Food Safety Modernization Act towards the requirement of a cold storage warehouse to preserve food is one of the primary market drivers.

• Also, the rising demand from various industrial applications such as medical devices, and pharmaceuticals industries are the major contributor to the global cold chain packaging market.

• For instance, according to ProMéxico, the total production value of the global medical device industry increased by almost 14% from 2015 to 2017, and by 2019 it is nearly 1.3 times 2015’s production value.

• Polystyrene is the primary raw material used in cold chain packaging. The scarcity of polystyrene increased the demand and surged its price; thus, leading to an increase in the overall cost of the final product. This is one of the major factors that hinder the market growth.

Cold Chain Packaging Market Segmentation Analysis

• Based on the application the global cold chain packaging market is broadly segmented as pharmaceuticals, frozen food, medical devices, and others. Among all these, pharmaceuticals accounted for a significant share owing to their increasing applications in the supply & logistics of biopharmaceuticals, clinical trials, vaccines, and others.

•  In the forecast period, frozen food application is expected to grow at the highest CAGR owing to an increase in demand for packed food and importing & exporting of seafood.

• For instance, according to Agriculture and Agri-Food Canada, during the period 2008- 2012, frozen processed fish and seafood sales grew by 8.2%, and the market grew at a higher pace than the historical period (2008-2012) during 2013–2017.

Cold Chain Packaging Market Geographical Share

• By geography, the market is segmented into North America, South America, Europe, Asia-Pacific, and Middle East & Africa. North America occupies the dominant share in the cold chain packaging market and is expected to grow at a CAGR of XX% in the forecast period owing to continuous growth in demand for cold storage medicinal products used in the healthcare industry.

• Also, the improvement in the shipping and warehousing of pharmaceutical products is driving the market further. For instance, according to a pharmaceutical commerce study, the expenditure on cold chain logistics, transportation, and packaging in this region reached USD 3.7 billion in 2018.

Cold Chain Packaging Market Companies

• Significant players in the global cold chain packaging market are Cryopak Industries Inc., Cold Chain Technologies, Inc., Americold Logistics, Dgp Intelsius LLC., Burris Logistics, CCL Industries., Sealed Air Corporation, Interstate Warehousing, Softbox Systems Ltd., Clondalkin Group., Swire Cold storage, Agro Merchant Group, Cloverleaf Cold Storage, Henningsen Cold Storage, and others. The diversified product portfolio is the primary factor that is responsible for strengthening the position of these companies in the market.

• Also, they have been adopting key strategies, such as new product developments, acquisitions, and expansions, to increase their share in the cold chain packaging market.

• For instance, in January 2019, Americold logistics one of the world’s largest operators of temperature-controlled facilities and infrastructure acquired privately-held PortFresh Holdings, LLC one of the leading temperature-controlled operators servicing fresh produce trade primarily through the Port of Savannah.

• In November 2018, Intelsius launched a website and E-Commerce platform which helps in improved navigation, for cold chain and sample transport packaging solutions.