Cold Chain Packaging Market
Cold Chain Packaging Market Forecasts to 2028 - Global Analysis By Product Type (Polyurethane (PUR) Containers, Expanded Polystyrene (EPS) Containers and Other Product Types), Material (Insulating Material, Refrigerants and Other Materials), Packaging Formats (Disposable Packaging and Reusable Packaging), Application (Industrial, Pharmaceuticals and Other Applications), End User (Cosmetics & Personal Care, Chemical and Other End Users) and Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $22.97 BN |
|
Projected Year Value (2028) |
US $47.57 BN |
|
CAGR (2022 - 2028) |
12.9% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Europe |
|
Fastest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Cold Chain Packaging Market is accounted for $22.97 billion in 2022 and is expected to reach $47.57 billion by 2028 growing at a CAGR of 12.9% during the forecast period. In order to maintain a consistent temperature of a product from production to the end-user, a "cold chain" is classified as the transportation of temperature-sensitive products using thermal and refrigerated packing methods.
According to Pharmaceutical Commerce Analysis of IQVIA, 2018, cold chain (including products and transportation) accounts for around 18% of the total pharma spend. Also, the growth of cold chain solutions is rising 2x compared to non-cold chain solutions in the pharmaceutical industry.
Market Dynamics:
Driver:
Robust Demand from the Pharmaceutical Industry
A method for shipping and packing goods that need to be kept at particular temperatures is called "cold chain packaging. Due to high level of demand from the pharmaceutical industry, its adoption in international trade is anticipated to rise. Injections, vaccinations, medicines, and other products requiring particular temperatures are packed using it. These factors influence the market growth.
Restraint:
High Cost & Complex Regulations
Compared to non-cold-packaged products, cold-chain packaging is more costly. Cold chain products are specially designed to control temperature and maintain the highest quality products. To meet specific design and manufacturing requirements, highly skilled technical labour and cutting-edge raw materials are required. However, these resources increase prices, which drives up capital investment and packaging expenses.
Opportunity:
Technological innovations
It is anticipated that rising adoption of more advanced manufacturing techniques and rising technological innovation will provide significant growth prospects. Expanded Polystyrene (EPS) pallet shippers and rising consumer demand for meat products like beef and chicken would offer market growth.
Threat:
Lack of proper infrastructure in emerging countries
The cold chain market is extremely fragmented, especially in developing regions in South America, Africa, and Asia. These regions' cold chain service providers lack the financing and technological abilities that are necessary to build high-quality cold chain facilities. The inefficient organisation and application of controls for standard compliance, together with the lack of adequate food storage, processing, and cold chain logistics, continue to be major challenges in these nations.
Covid-19 Impact:
The pandemic has positively impacted the cold chain industry, which has increased demand for cold chain warehouses. One of the major contributing factors to the expansion of the cold chain in the food business is the rising adoption rate of packaged food and beverage products. Due to the COVID-19's impact on every industry's supply chain and the restrictions on trade during the pandemic, food manufacturers are now placing more emphasis not only on the products but also on where they are stored to augment their shelf life, which is expected to drive the market for the cold chain.
The insulated container & boxes is expected to be the largest during the forecast period
The industry has expanded as a result of the high demand for reusable insulated containers and boxes for storing fruits, vegetables, and processed foods. Furthermore, reusable insulated boxes and containers were progressively used due to rising demand from prominent food and pharmaceutical companies to reduce manufacturing costs, which had a significant impact on the segment's global expansion.
The refrigerants segment is expected to have the highest CAGR during the forecast period
The adoption of the refrigerant segment is being fueled by the increasing trend toward gases with low potential for ozone depletion and global warming. The development of sustainable packaging solutions has become a global priority owing to rising concern about ozone layer depletion and global warming. The challenges caused by global warming can be managed and overcome with the assistance of refrigerant materials. In order to reduce cost and achieve sustainability objectives, therefore, consumers of cold packaging are migrating towards these packaging materials.
Region with largest share:
In Europe, the temperature profile varies from country to country. Due to the growth and expansion of their economies, Central and Eastern European nations are anticipated to offer additional opportunities for growth than Western countries. Fruits, vegetables, meat, fish, milk products, and frozen produce are all substantially imported into Germany. Furthermore, with widespread health awareness and rising nutritional intake among consumers, the packaged food industry is booming in the nation.
Region with highest CAGR:
Asia Pacific is the region with the highest CAGR in the world and is anticipated to regulate the market by the end of the forecast period, due to the rapid growth of cold storage projects, rising disposable incomes, and rise in population, cold packaging solutions are being implemented in the region at a healthy rate.
Key players in the market
Some of the key players in Cold Chain Packaging market include Pelican Products, Inc., Sealed Air Corporation, Peli BioThermal, Softbox Systems, Inc, Cold Chain Technologies, Coolpac, Nordic Cold Chain Solutions, Tempack, Sofrigam Company, Cryopak A TCP Company, Sonoco ThermoSafe, Clip-Lok SimPak and Cascades Inc.
Key Developments:
In March 2021, Cold Chain Technologies partnered with Cloudleaf to launch a new smart cold chain technology solution for critical, temperature-sensitive drugs and biologics. Digital Visibility Platform provided by Cloudleaf will allow obtaining the realtime data on conditions and temperature of shipping containers, which would further help reduce product spoilage or wastage.
In March 2021, Cold Chain Technologies partnered with Luxembourg-based B Medical Systems to offer end-to-end thermal shipping and storage solutions to the life science market. With this partnership, Cold Chain Technologies expanded its offerings in both active and passive cold chain packaging solutions for the life science industry.
Product Types Covered:
• Polyurethane (PUR) Containers
• Expanded Polystyrene (EPS) Containers
• Vacuum Insulated Panels
• Pallet Shippers
• Crates
• Insulated Container & Boxes
• Labels
• Cold Packs
• Temperature Controlled Pallet Shippers
• Temperature Monitoring
Materials Covered:
• Insulating Material
• Refrigerants
• Polymer
• Metal
• Paper
Packaging Formats Covered:
• Disposable Packaging
• Reusable Packaging
Applications Covered:
• Industrial
• Pharmaceuticals
• Bakery & Confectionaries
• Food
• Fruits & Vegetables
• Fruit & Pulp Concentrates
• Dairy Products
• Fish, Meat & Seafood
• Processed Food
• Medical Devices
• Agriculture
End Users Covered:
• Cosmetics & Personal Care
• Chemical
• Homecare
• Beverages
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Cold Chain Packaging Market, By Product Type
5.1 Introduction
5.2 Polyurethane (PUR) Containers
5.3 Expanded Polystyrene (EPS) Containers
5.4 Vacuum Insulated Panels
5.5 Pallet Shippers
5.6 Crates
6.6.1 Horticulture
6.6.2 Fisheries
5.7 Insulated Container & Boxes
5.7.1 Large
5.7.2 Medium
5.7.3 Small
5.7.4 X-Small
5.7.5 Petite
5.8 Labels
5.9 Cold Packs
5.10 Temperature Controlled Pallet Shippers
5.11 Temperature Monitoring
6 Global Cold Chain Packaging Market, By Material
6.1 Introduction
6.2 Insulating Material
6.2.1 Vacuum Insulated Panel (VIP)
6.2.2 Polyurethane Rigid Foam (PUR)
6.2.3 Expanded Polystyrene (EPS)
6.2.4 Cryogenic Tanks
6.3 Refrigerants
6.3.1 Fluorocarbons
6.3.2 Inorganics
6.3.2.1 Ammonia
6.3.2.2 Carbon Dioxide (CO2)
6.3.3 Hydrocarbon
6.4 Polymer
6.4.1 Polyethylene
6.4.2 Polypropylene
6.4.3 Polyurethane
6.4.4 Extruded Polyisocyanurate
6.5 Metal
6.6 Paper
7 Global Cold Chain Packaging Market, By Packaging Formats
7.1 Introduction
7.2 Disposable Packaging
7.3 Reusable Packaging
8 Global Cold Chain Packaging Market, By Application
8.1 Introduction
8.2 Industrial
8.3 Pharmaceuticals
8.3.1 Vaccines
8.3.2 Blood Banking
8.4 Bakery & Confectionaries
8.5 Food
8.6 Fruits & Vegetables
8.7 Fruit & Pulp Concentrates
8.8 Dairy Products
8.8.1 Milk
8.8.2 Cheese
8.8.3 Butter
8.8.4 Ice Cream
8.9 Fish, Meat & Seafood
8.10 Processed Food
8.11 Medical Devices
8.12 Agriculture
9 Global Cold Chain Packaging Market, By End User
9.1 Introduction
9.2 Cosmetics & Personal Care
9.3 Chemical
9.4 Homecare
9.5 Beverages
9.5.1 Alcoholic Beverages
9.5.2 Non-Alcoholic Beverages
10 Global Cold Chain Packaging Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Pelican Products, Inc.
12.2 Sealed Air Corporation
12.3 Peli BioThermal
12.4 Softbox Systems, Inc
12.5 Cold Chain Technologies
12.6 Coolpac
12.7 Nordic Cold Chain Solutions
12.8 Tempack
12.9 Sofrigam Company
12.10 Cryopak A TCP Company
12.11 Sonoco ThermoSafe
12.12 Clip-Lok SimPak
12.13 Cascades Inc.
List of Tables
1 Global Cold Chain Packaging Market Outlook, By Region (2020-2028) ($MN)
2 Global Cold Chain Packaging Market Outlook, By Product Type (2020-2028) ($MN)
3 Global Cold Chain Packaging Market Outlook, By Polyurethane (PUR) Containers (2020-2028) ($MN)
4 Global Cold Chain Packaging Market Outlook, By Expanded Polystyrene (EPS) Containers (2020-2028) ($MN)
5 Global Cold Chain Packaging Market Outlook, By Vacuum Insulated Panels (2020-2028) ($MN)
6 Global Cold Chain Packaging Market Outlook, By Pallet Shippers (2020-2028) ($MN)
7 Global Cold Chain Packaging Market Outlook, By Crates (2020-2028) ($MN)
8 Global Cold Chain Packaging Market Outlook, By Horticulture (2020-2028) ($MN)
9 Global Cold Chain Packaging Market Outlook, By Fisheries (2020-2028) ($MN)
10 Global Cold Chain Packaging Market Outlook, By Insulated Container & Boxes (2020-2028) ($MN)
11 Global Cold Chain Packaging Market Outlook, By Large (2020-2028) ($MN)
12 Global Cold Chain Packaging Market Outlook, By Medium (2020-2028) ($MN)
13 Global Cold Chain Packaging Market Outlook, By Small (2020-2028) ($MN)
14 Global Cold Chain Packaging Market Outlook, By X-Small (2020-2028) ($MN)
15 Global Cold Chain Packaging Market Outlook, By Petite (2020-2028) ($MN)
16 Global Cold Chain Packaging Market Outlook, By Labels (2020-2028) ($MN)
17 Global Cold Chain Packaging Market Outlook, By Cold Packs (2020-2028) ($MN)
18 Global Cold Chain Packaging Market Outlook, By Temperature Controlled Pallet Shippers (2020-2028) ($MN)
19 Global Cold Chain Packaging Market Outlook, By Temperature Monitoring (2020-2028) ($MN)
20 Global Cold Chain Packaging Market Outlook, By Material (2020-2028) ($MN)
21 Global Cold Chain Packaging Market Outlook, By Insulating Material (2020-2028) ($MN)
22 Global Cold Chain Packaging Market Outlook, By Vacuum Insulated Panel (VIP) (2020-2028) ($MN)
23 Global Cold Chain Packaging Market Outlook, By Polyurethane Rigid Foam (PUR) (2020-2028) ($MN)
24 Global Cold Chain Packaging Market Outlook, By Expanded Polystyrene (EPS) (2020-2028) ($MN)
25 Global Cold Chain Packaging Market Outlook, By Cryogenic Tanks (2020-2028) ($MN)
26 Global Cold Chain Packaging Market Outlook, By Refrigerants (2020-2028) ($MN)
27 Global Cold Chain Packaging Market Outlook, By Fluorocarbons (2020-2028) ($MN)
28 Global Cold Chain Packaging Market Outlook, By Inorganics (2020-2028) ($MN)
29 Global Cold Chain Packaging Market Outlook, By Hydrocarbon (2020-2028) ($MN)
30 Global Cold Chain Packaging Market Outlook, By Polymer (2020-2028) ($MN)
31 Global Cold Chain Packaging Market Outlook, By Polyethylene (2020-2028) ($MN)
32 Global Cold Chain Packaging Market Outlook, By Polypropylene (2020-2028) ($MN)
33 Global Cold Chain Packaging Market Outlook, By Polyurethane (2020-2028) ($MN)
34 Global Cold Chain Packaging Market Outlook, By Extruded Polyisocyanurate (2020-2028) ($MN)
35 Global Cold Chain Packaging Market Outlook, By Metal (2020-2028) ($MN)
36 Global Cold Chain Packaging Market Outlook, By Paper (2020-2028) ($MN)
37 Global Cold Chain Packaging Market Outlook, By Packaging Formats (2020-2028) ($MN)
38 Global Cold Chain Packaging Market Outlook, By Disposable Packaging (2020-2028) ($MN)
39 Global Cold Chain Packaging Market Outlook, By Reusable Packaging (2020-2028) ($MN)
40 Global Cold Chain Packaging Market Outlook, By Application (2020-2028) ($MN)
41 Global Cold Chain Packaging Market Outlook, By Industrial (2020-2028) ($MN)
42 Global Cold Chain Packaging Market Outlook, By Pharmaceuticals (2020-2028) ($MN)
43 Global Cold Chain Packaging Market Outlook, By Vaccines (2020-2028) ($MN)
44 Global Cold Chain Packaging Market Outlook, By Blood Banking (2020-2028) ($MN)
45 Global Cold Chain Packaging Market Outlook, By Bakery & Confectionaries (2020-2028) ($MN)
46 Global Cold Chain Packaging Market Outlook, By Food (2020-2028) ($MN)
47 Global Cold Chain Packaging Market Outlook, By Fruits & Vegetables (2020-2028) ($MN)
48 Global Cold Chain Packaging Market Outlook, By Fruit & Pulp Concentrates (2020-2028) ($MN)
49 Global Cold Chain Packaging Market Outlook, By Dairy Products (2020-2028) ($MN)
50 Global Cold Chain Packaging Market Outlook, By Milk (2020-2028) ($MN)
51 Global Cold Chain Packaging Market Outlook, By Cheese (2020-2028) ($MN)
52 Global Cold Chain Packaging Market Outlook, By Butter (2020-2028) ($MN)
53 Global Cold Chain Packaging Market Outlook, By Ice Cream (2020-2028) ($MN)
54 Global Cold Chain Packaging Market Outlook, By Fish, Meat & Seafood (2020-2028) ($MN)
55 Global Cold Chain Packaging Market Outlook, By Processed Food (2020-2028) ($MN)
56 Global Cold Chain Packaging Market Outlook, By Medical Devices (2020-2028) ($MN)
57 Global Cold Chain Packaging Market Outlook, By Agriculture (2020-2028) ($MN)
58 Global Cold Chain Packaging Market Outlook, By End User (2020-2028) ($MN)
59 Global Cold Chain Packaging Market Outlook, By Cosmetics & Personal Care (2020-2028) ($MN)
60 Global Cold Chain Packaging Market Outlook, By Chemical (2020-2028) ($MN)
61 Global Cold Chain Packaging Market Outlook, By Homecare (2020-2028) ($MN)
62 Global Cold Chain Packaging Market Outlook, By Beverages (2020-2028) ($MN)
63 Global Cold Chain Packaging Market Outlook, By Alcoholic Beverages (2020-2028) ($MN)
64 Global Cold Chain Packaging Market Outlook, By Non-Alcoholic Beverages (2020-2028) ($MN)
Note: Tables for North America, Europe, Asia Pacific, South America and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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