The global cold chain packaging market size is estimated at USD 59.95 billion in 2030 and is expected to grow at a CAGR of 12.6% from 2024 to 2030. The key drivers attributing to the market expansion include a significant boost in demand for cold chain packaging solutions from the pharmaceutical industry. Amidst the coronavirus pandemic, the trade and transit of temperature-sensitive drugs, medicines, and test samples are drastically increasing. Along with the pharmaceuticals market, the packaging market is anticipated to witness significant growth. The overall market growth is profoundly influenced by the high demand for perishable goods worldwide and the availability of fresh food and frozen food supplies.
The growing popularity of e-commerce as a channel
for purchasing fresh goods drives the market growth. The increasing usage of
e-commerce websites and mobile apps has enabled customers to order
preserved food, fresh vegetables, dairy
products, and daily meals. Digital retailing has given
enabled consumers to purchase products from anywhere they want. The rising
trend of online purchases for perishable products has led to new opportunities
and challenges. These include the need for innovative solutions to provide the
critical service of last-mile delivery, automated warehouse facilities to
manage inventories and to reduce per-item costs, and advanced cold chain
packaging solutions that would maintain the safety of fresh food products.
North America dominated the market for cold chain
packaging in 2019 and is estimated to continue leading over the forecast period
leveraging the high consumption rate of meat, processed food, and dairy
products. Additionally, the regional market is highly fragmented with numerous
market players, which has increased the regional market share. However, the
current economic and political scenario has impacted industry growth. The trade
conflict between the U.S. and China is expected to negatively impact the growth
of the cold chain market in the U.S. In early 2018, China announced a 15% to 25%
tariff on products imported from the U.S., including pork, fruits, wine, nuts,
and vegetables. This high tariff imposed on food and agriculture products is
expected to hinder the regional market growth.
The Middle East and Africa market for cold chain packaging
is anticipated to register the highest CAGR over the forecast period on account
of significant improvements in material handling, warehousing, intralogistics,
and supply chain solutions. The Asia Pacific regional market is estimated to
witness a significant CAGR of more than 21% from 2020 to 2027. The growth is
attributed to the ever-increasing population, rapid industrialization,
continued rollout of transportation and warehousing networks, and the rise in
demand for processed and canned food items.
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List of Key Players in Cold Chain Packaging Market
- Cold chain Technologies
- Cryopak
- Sonoco Thermosafe
- SOFRIGAM
- Softbox Systems Ltd
- Pelican Products, Inc.
- CSafe
- TOWER Cold Chain Solutions
- Sealed Air Corporation
- CoolPac
- Nordic Cold Chain Solutions
- Global Cooling Inc.
- Inmark LLC
- Envirotainer AB
- DGP Intelsius LLC
- Vericool, Inc.
- Emballages Cre-O-Pack Intl
- TemperPack Technologies, Inc.
Cold Chain Packaging Market Report Highlights
- Amid the COVID-19 pandemic, governments across the globe are
emphasizing on providing ample medicinal supply to the healthcare
facilities. With the increasing tests per day, the transit of blood
samples is also increasing, thereby increasing the need for reliable
temperature-controlled packaging solutions in the pharmaceutical and
healthcare industry.
- The evolution of the smart technologies, such as smart boxes or
smart temperature-controlled packaging solutions that provide real-time
data on variations in temperature, humidity, and air pressure, is expected
to drive the future growth of the market.
- The increasing emphasis on low ozone depletion potential (ODP) and
low global warming potential (GWP) gases is expected to boost demand for
natural and inorganic refrigerants such as ammonia and carbon dioxide.
- The fruits & vegetable segment is expected to grow at a
significant compound annual growth rate (CAGR) of more than 20% from 2020
to 2027 owing to the increasing demand for fresh vegetables and fruits
from end consumers across the globe.
- Market players are expanding their regional presence through
mergers, acquisitions, and partnerships by establishing a network of
distributors located in different regions. For instance, Pelican Products,
Inc. has a network of dealers located in South America (NatBio), Asia
Pacific (Giddi Pharma, Pharmaserv Express, and others), and Europe (DS
Smith).
- Some of the key industry participants are Cold Chain Technologies,
Cryopak A TCP Company, Pelican Products, Inc., Sofrigam, and Sonoco
ThermoSafe.
Related Press Release@ Cold Chain Packaging Market Report
Cold Chain Packaging Market
Report Scope
|
Report Attribute |
Details |
|
Market
size value in 2024 |
USD 29.48
billion |
|
Revenue
forecast in 2030 |
USD 59.95
billion |
|
Growth
rate |
CAGR of
12.6% from 2024 to 2030 |
|
Actual data |
2018 -
2023 |
|
Forecast period |
2024 - 2030 |
Cold Chain Packaging Market Segmentation
Grand View Research has segmented the global cold
chain packaging market report based on material, product, end use, and region:
Cold Chain Packaging Material Outlook (Volume, Million
Units; Revenue, USD Million, 2018 - 2030)
- Expanded Polystyrene (EPS)
- Polyurethane Rigid Foam (PUR)
- Paper & Paperboard
- Others
Cold Chain Packaging Product Outlook (Volume, Million
Units; Revenue, USD Million, 2018 - 2030)
- Insulated Pallet Shippers
- Insulated Containers
- Vacuum Insulated Panels
- Gel Packs
- Others
Cold Chain Packaging End Use Outlook (Volume, Million
Units; Revenue, USD Million, 2018 - 2030)
- Fruits & Vegetables
- Fruit & Pulp Concentrates
- Dairy Products
- Milk
- Butter
- Cheese
- Ice Cream
- Fish, Meat & Seafood
- Processed Food
- Pharmaceuticals
- Vaccines
- Blood Banking
- Bakery & Confectionaries
- Others
Cold Chain Packaging Regional Outlook (Volume, Million
Units; Revenue, USD Million, 2018 - 2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Central & South America
- Brazil
- Argentina
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
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