The Business Research Company has updated all its market reports with the latest information for the year 2024, projecting trends and forecasts until 2033
The cold chain packaging market is on a rapid growth trajectory, expected to rise from $28.02 billion in 2023 to $31.92 billion in 2024, achieving a CAGR of 13.9%. This growth is driven by the expansion of the global pharmaceutical and healthcare industries, increased demand for temperature-sensitive biologics and vaccines, and a rising focus on food safety and quality assurance.
What Are the Market Size Estimates for the Global Cold Chain Packaging Market and Its Expected Growth Rate?
The market is expected to grow rapidly, reaching $54.99 billion by 2028, with a CAGR of 14.6%. This growth is attributed to the expansion of e-commerce and online grocery delivery services, the adoption of cold chain technologies in emerging markets, the importance of last-mile delivery, growth in the cell and gene therapy sectors, and demand for sustainable packaging solutions. Key trends will include innovations in insulation materials, active and passive temperature-controlled packaging, IoT integration, single-use and eco-friendly packaging, and serialization in pharmaceutical packaging.
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What Are The Primary Growth Drivers Of The Cold Chain Packaging Market?
Rapid urbanization is set to significantly bolster the market. As urban areas expand to accommodate growing populations, there is an escalating demand for food products, particularly processed and easy-to-eat items like frozen fruits and vegetables. The global urban population, which reached approximately 4.46 billion in 2021, is projected to rise to 6.68 billion by 2050. This population growth necessitates efficient packaging solutions, such as cold chain packaging, to ensure the safe transport and storage of perishable goods.
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Who Are The Top Market Players Contributing To The Growth Of The Cold Chain Packaging Market?
Major companies operating in the market include Cold Chain Technologies Inc., Cryopak Industries Inc., Sofrigam Company, CCL Industries Inc., Sealed Air Corporation, Pelican BioThermal LLC, Sonoco Thermosafe, Intelsius a DGP Company, Softbox Systems Ltd., Envirotainer AB, Inmark Packaging, Tempack Packaging Solutions S.L., ACH Foam Technologies LLC, American Aerogel Corporation, Cold Ice Inc., Davis Core & Pad Co., DuPont de Nemours Inc., Exeltainer S.L., Insulated Products Corporation, Laminar Medica Limited, NanoCool LLC, Polar Tech Industries Inc., Protek Cargo, Royal Golden Eagle Group, Saeplast Americas Inc., SkyCell AG, Snyder Industries Inc., TKT GmbH, World Courier, va-Q-tec AG
What Emerging Trends Are Affecting The Size Of The Cold Chain Packaging Market?
A significant trend in the market is the growing emphasis on sustainable packaging solutions. Companies have made investments in CO2-efficient transport methods but still face about 20% losses due to inefficient cooling techniques that lack sustainability. Leading cold chain packaging firms now focus on reusable, multi-use temperature-controlled packaging options. While initially inexpensive, these sustainable products are cost-effective in the long run due to their reusability and lower CO2 emissions, aligning with government regulations to reduce carbon footprints. For example, in January 2022, Packaging Technology Group (PTG) introduced the cold chain industry’s first curbside recyclable thermal shipper that can maintain temperatures of 2-8 °C for 72 hours.
How Is the Global Cold Chain Packaging Market Segmented?
The cold chain packaging market covered in this report is segmented –
1) By Product: Crates, Insulated Container And Boxes, Cold Packs, Lable, Temperature Controlled Pallet Shippers
2) By Material Type: Expanded polystyrene (EPS), Vacuum insulated panel (VIP) solutions, Polyurethane (PUR)
3) By Application: Fruits And Vegetables, Fruit And Pulp Concentrates, Dairy Products, Fish, Meat And Seafood, Processed Food, Pharmaceuticals, Bakery And Confectionaries
Geographical Analysis: Western Europe Emerges as the Cold Chain Packaging Market Leader
Western Europe was the largest region in the market in 2023. The regions covered in the report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Cold Chain Packaging Market Definition and Overview
Cold chain packaging maintains temperature-sensitive products at the appropriate temperatures throughout the supply chain, ensuring their safety and efficacy.
The Cold Chain Packaging Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Cold Chain Packaging Market Report: Trends, Opportunities, Strategies, and More
The Cold Chain Packaging Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into cold chain packaging market size, cold chain packaging market drivers and trends, cold chain packaging market major players, cold chain packaging competitors' revenues, cold chain packaging market positioning, and cold chain packaging market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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