NEWARK, Del, Oct. 18, 2022 (GLOBE NEWSWIRE) -- The global cold chain packaging market is anticipated to reach a valuation of US$ 69.2 Bn by 2030, with the market growing at a stellar CAGR of 14.6% from 2022 to 2030. Predicted to reach an estimated US$ 22.8 Bn in 2022, the cold chain packaging market is likely propelled by the rising emphasis on regulatory compliance of pharmaceuticals and food companies to maintain the quality of their product. The immense demand for efficient and reliable cold chain packaging solutions from the pharmaceuticals, food, and chemicals industries will further aid the market expansion of the same over the forecast period.
Cold chain packaging solutions are witnessing high demand from different end-use industries. With the implementation of strict regulatory changes, businesses have organized their business models to fit their expansion plans with these regulations. These businesses are doing so with the help of cold chain packaging solutions, the market for which is, in turn registering unprecedented growth.
Innovation is the next step up for cold chain packaging. The integration of innovation and technology ensures accurate logistics tracking and enhances data management. Data management devices integrated within these packaging solutions are capable of not only collecting and storing data but also interacting and intervening with the same to provide a better quality of the products that are being transported.
Here, traditional data loggers are unable to reach the progress that cloud solutions and sensors are able to. Cloud computing and sensors are faster and provide real-time data on temperature changes. All of these considerations bode well for the target market.
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Moreover, cold chain packaging is incredibly helpful for the pharmaceutical and biotech industry as it aids in the quality preservation of the products. These solutions are highly efficacious in reducing losses and ensuring optimum freshness for the food and beverage sector, too. Thus, all of the aforementioned factors work in tandem to ensure the market growth of cold chain packaging market during the forecast period.
“Incorporation of advanced technology coupled with great demand from various end-use industries will fuel the global growth of the cold chain packaging market over the forecast period,” says an FMI analyst.
Key Takeaways:
- Rising trend of renting or leasing containers for cold chain packaging will strengthen market prospects.
- Adoption of reusable packaging will benefit market manufacturers.
- North America will create lucrative opportunities for the target market.
- Germany will likely dominate the cold chain packaging market in Europe.
- The phase change cold storage products segment will gain momentum over the forecast period.
- The insulated containers segment is expected to register high demand from various end-users.
Competitive Landscape
Sonoco ThermoSafe, Pelican Products, Inc., Sofrigam SAS, Cryopak Industries Inc., CSafe Global, LLC, Softbox Systems Ltd., TOWER Cold Chain Solutions, DGP Intelsius LLC, TemperPack Technologies, Inc., and Tempack Packaging Solutions SL among others are some of the major players in the cold chain packaging market profiled in the full version of the report.
Leading market players are focusing on strategic collaborations with technology partners so as to develop their product lines. These organizations are increasing their investment in advanced technologies such as IoT and cloud computing as well as utilizing reusable material to gain a competitive edge.
More Insights into Cold Chain Packaging Market Report
According to the latest FMI reports, based on segmentation, the insulated containers segment is witnessing a heightened demand due to the growing consumption of frozen food items. The phase change cold storage products will also continue to gain traction over the assessment period as these products are non-hazardous, non-toxic, and nonflammable, need less energy to freeze, and are reusable with the stability of 1000s of a cycle.
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Based on region, North America and Europe are anticipated to exhibit substantial growth in the cold chain packaging market. The United States is a major growth driver of the cold chain packaging market in North America. This is due to the expansion of online stores and online grocery shopping. Similarly, in Europe, Germany is predicted to lead the market growth owing to the presence of a well-established pharmaceutical sector. Hence, these two regions are likely to show notable growth in this market over the forecast period.
Key Segments Covered In Cold Chain Packaging Industry Research
Product Type:
- Pallet Shippers
- Insulated Containers
- Foam Bricks
- Gel Packs
- Protective Packaging
- Phase Change Cold Storage Products
Material Type:
- Polymer
- Metal
- Paper
Packaging Formats:
- Reusable Packaging
- Disposable Packaging
End-use:
- Food
- Beverages
- Pharmaceutical
- Cosmetics & Personal Care
- Chemical
- Others
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Middle East and Africa (MEA)
- Oceania
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Market Analysis
1.3. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage
2.2. Market Definition
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation Trends
4. Key Success Factors
4.1. Product Adoption Analysis
4.2. Product USPs / Features
5. Global Cold Chain Packaging Market Demand Analysis 2015–2021 and Forecast, 2022–2030
5.1. Historical Market Volume (‘000 Tonnes) Analysis, 2015–2021
5.2. Current and Future Market Volume (‘000 Tonnes) Projections, 2022–2030
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Top Reports Related To Packaging Market Insights
Pharmaceutical Cold Chain Packaging Market Size - Newly released data by Future Market Insights (FMI) projects the global pharmaceutical cold chain packaging market to register a CAGR of ~15%, to reach US$ 46.9 Bn by 2031.
Reusable Cold Chain Packaging Market Share - Newly released data from reusable cold chain packaging market analysis shows that global demand of the overall reusable cold chain packaging market is forecasted to expand at a value compound annual growth rate (CAGR) of ~6.0% from 2021-2031 and reach millions of units by 2031.
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Beverage Packaging Market Demand - The global beverage packaging market is estimated at USD 104.8 Bn in 2022 and is projected to reach USD 128.2 Bn by 2027, at a CAGR of 4.1% from 2022 to 2027.
Packaging Tapes Market Outlook - The demand for packaging tapes is gaining traction on the backdrop of colossal growth from the packaging industry. Several types of industries use packaging tapes, and these tapes have to undergo extreme climate conditions during transportation.
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