USD 27.12 Billion
Cold Chain Packaging Market Size, Share, Growth Analysis, By Product Type(Insulated shippers, insulated containers, refrigerants, and others), By Packaging material(Polystyrene (EPS), polyurethane (PUR), polypropylene (PP), and others), By Application(Pharmaceuticals, food and beverages, and biotechnology), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15G2060 |
Region:
Global |
Published Date: April, 2024
Pages:
184
|Tables:
92
|Figures:
76
Cold Chain Packaging Market Insights
Global Cold Chain Packaging Market size was valued at USD 27.12 Billion in 2022 and is poised to grow from USD 32.49 Billion in 2023 to USD 137.85 Billion by 2031, at a CAGR of 19.8% during the forecast period (2024-2031).
Global Cold Chain Packaging Market is a thriving and essential industry that plays a critical role in preserving the quality and safety of temperature-sensitive products throughout the supply chain. The increasing demand for temperature-sensitive pharmaceuticals and biologics, driven by the growth of the healthcare sector and the need for safe and effective drug delivery, fuels the market. Additionally, the rising global trade of perishable food and beverages, including fresh produce and frozen products, creates a substantial demand for reliable cold chain packaging solutions. Moreover, stringent regulations and quality standards imposed by regulatory bodies and industry associations regarding the transportation and storage of temperature-sensitive products drive the adoption of specialized packaging solutions. The need to prevent product spoilage, comply with temperature requirements, and mitigate the risk of product recalls further contributes to market growth. However, the market faces certain restraints, such as the high cost of temperature-controlled packaging materials, the complexity of maintaining temperature integrity throughout the supply chain, and the need for specialized infrastructure and equipment.
Key trends shaping the cold chain packaging market include the adoption of eco-friendly and sustainable packaging materials, the integration of smart technologies for real-time monitoring and tracking, and the focus on optimizing efficiency and reducing carbon footprint. The demand for sustainable packaging solutions, such as recyclable and biodegradable materials, aligns with the global movement towards environmentally friendly practices. Furthermore, the integration of smart technologies, including sensors, RFID, and IoT, into cold chain packaging solutions allows real-time monitoring of temperature, humidity, and location. This enables proactive interventions, enhances supply chain visibility, and ensures compliance with temperature requirements. Amidst these drivers, restraints, and trends, the Cold Chain Packaging market presents numerous opportunities. The increasing demand for cold chain services in emerging markets, the growth of e-commerce and online grocery delivery, and the advancements in temperature-controlled packaging technology offer attractive prospects for market players. Additionally, the COVID-19 pandemic has further emphasized the importance of maintaining a robust cold chain for the distribution of vaccines and other critical medical supplies.
US Cold Chain Packaging Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Insulated Containers
Fastest Growth
Insulated Containers
Growth Rate
19.8% CAGR
Global Cold Chain Packaging Market ($ Bn)
Country Share for North America Region (%)
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Cold Chain Packaging Market Segmental Analysis
Global Cold Chain Packaging Market is segmented on the basis of product type, packaging material, application, and region. By product type, the market is segmented into insulated shippers, insulated containers, refrigerants, and others. By packaging material, the market is segmented into polystyrene (EPS), polyurethane (PUR), polypropylene (PP), and others. By application, the market is segmented into pharmaceuticals, food and beverages, and biotechnology. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Cold Chain Packaging Market Analysis By Product Type
The insulated containers dominated the global market. Insulated containers provide a reliable and efficient solution for preserving temperature-sensitive products during transportation and storage. These containers are designed with advanced insulation materials and technologies to maintain desired temperature ranges, ensuring the integrity and quality of perishable goods. The dominance of insulated containers can be attributed to their versatility and widespread use across various industries. They offer ample storage capacity and can accommodate a range of products, including pharmaceuticals, food and beverages, and biologics. Insulated containers are widely employed in shipping and logistics operations, enabling the safe and secure transportation of temperature-sensitive goods over long distances. Additionally, the growth of the global food and beverage industry fuels the demand for insulated containers. With the rising consumption of perishable food products, including fresh produce and frozen goods, there is a need for efficient cold chain packaging solutions to prevent spoilage and maintain product quality. Insulated containers offer an ideal solution for the safe transportation and storage of these food items. Furthermore, the e-commerce sector has witnessed significant growth, and with it, the demand for insulated containers has also increased. As online grocery delivery services gain popularity, insulated containers play a crucial role in ensuring that perishable goods reach consumers in optimal condition, maintaining freshness and safety throughout the delivery process.
On the other hand, the fastest-growing segment in the Cold Chain Packaging market is refrigerants. Refrigerants play a vital role in maintaining and regulating the temperature within cold chain packaging systems. These substances, such as dry ice and gel packs, provide the necessary cooling effect to keep the temperature-sensitive products within the desired range during transportation and storage. The refrigerants segment experiences rapid growth due to the increasing demand for temperature-controlled packaging solutions. The growth of the pharmaceutical and food industries, coupled with stringent regulations for product safety and quality, drives the need for effective refrigerants. Moreover, the advancements in refrigerant technologies, such as the development of more sustainable and reusable options, contribute to the segment's accelerated growth.
Cold Chain Packaging Market Analysis By Application
Polystyrene (EPS) holds the largest market share in Cold Chain Packaging due to its excellent insulation properties and cost-effectiveness. EPS foam is widely used for packaging temperature-sensitive products as it provides exceptional thermal insulation, helping to maintain consistent temperatures during transportation and storage. Its lightweight nature reduces overall packaging weight, making it an attractive choice for cost-conscious industries. Additionally, EPS is highly customizable, allowing manufacturers to create packaging solutions tailored to specific product requirements.
On the other hand, the polyurethane (PUR) segment is experiencing significant growth in the Cold Chain Packaging market. Polyurethane offers superior insulation capabilities, providing enhanced temperature control for perishable goods. The growth of the polyurethane segment can be attributed to its excellent thermal stability, which allows for extended temperature maintenance during long-distance transportation. Moreover, polyurethane packaging is highly durable and resistant to moisture, making it suitable for protecting sensitive products from external factors.
Global Cold Chain Packaging Market By Product Type
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Cold Chain Packaging Market Regional Insights
North America dominated the global market. The region's dominance can be attributed to several factors, including the well-established pharmaceutical and healthcare industry, stringent regulatory standards, and the robust infrastructure supporting cold chain logistics. North America has a strong emphasis on maintaining the integrity of temperature-sensitive products during transportation and storage, which drives the demand for advanced cold chain packaging solutions. For instance, in the United States, the pharmaceutical sector plays a pivotal role in driving the growth of the Cold Chain Packaging market. The country is home to numerous pharmaceutical companies and has a high demand for temperature-controlled packaging solutions to ensure the safe delivery of drugs and vaccines. The stringent regulations set by the U.S. Food and Drug Administration (FDA) regarding product quality and safety further contribute to the adoption of specialized cold chain packaging in the region.
As for the fastest-growing region in the Cold Chain Packaging market, Asia Pacific exhibits immense potential. With rapid economic growth, expanding pharmaceutical and biotech industries, and a rising middle class, the region presents lucrative opportunities for market players. Countries like China and India are witnessing significant investments in cold chain infrastructure and logistics, driven by the growing demand for temperature-sensitive products and the need for efficient distribution networks. As a result, Asia Pacific is projected to experience substantial growth in the adoption of cold chain packaging solutions, further bolstered by government initiatives to enhance cold chain capabilities and ensure product quality and safety.
Global Cold Chain Packaging Market By Region
- Largest
- Fastest
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Cold Chain Packaging Market Dynamics
Cold Chain Packaging Market Drivers
Increasing demand for temperature-sensitive pharmaceuticals
- The healthcare sector is witnessing a surge in the demand for temperature-sensitive pharmaceuticals, including vaccines, biologics, and specialty drugs. These products require strict temperature control to maintain their efficacy and safety. As a result, there is a growing need for advanced cold chain packaging solutions that can provide the necessary insulation and temperature control. For example, the distribution of COVID-19 vaccines worldwide necessitates specialized packaging that can maintain ultra-low temperatures, such as the use of dry ice or liquid nitrogen to ensure the vaccine's integrity.
Cold Chain Packaging Market Restraints
The complexity of maintaining temperature integrity
- Maintaining temperature integrity throughout the supply chain can be complex due to various factors, such as long transportation routes, multiple handling points, and varying climatic conditions. Temperature excursions can occur during loading, unloading, or due to delays in transit. Ensuring continuous temperature monitoring and control throughout the supply chain is crucial to prevent product spoilage. However, achieving this requires coordination among multiple stakeholders, including manufacturers, logistics providers, and retailers, which can be challenging. Implementing robust monitoring systems and adhering to standard operating procedures are essential to address this complexity.
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Cold Chain Packaging Market Competitive Landscape
Global Cold Chain Packaging Market exhibits a competitive landscape characterized by the presence of several prominent players striving to capture a significant market share. These companies focus on product innovation, strategic partnerships, and mergers and acquisitions to strengthen their market position and expand their product portfolios. Some of the key players in the market invest in research and development to develop advanced cold chain packaging solutions that offer enhanced insulation, temperature control, and sustainability. Additionally, they emphasize collaborations with logistics and pharmaceutical companies to provide integrated cold chain solutions. The competitive landscape of the Cold Chain Packaging market is driven by the need to meet evolving customer requirements, comply with stringent regulations, and deliver reliable and efficient temperature-controlled packaging solutions for a wide range of industries.
Cold Chain Packaging Market Top Player’s Company Profile
- Cold Chain Technologies, LLC (US)
- DHL International GmbH (Germany)
- Avery Dennison Corporation (US)
- Sealed Air Corporation (US)
- Sofrigam SA (France)
- Cryopak Industries Inc. (US)
- Va-Q-tec AG (Germany)
- Tempack Packaging Solutions, S.L. (Spain)
- DS Smith Plc (UK)
- Cold Pack System (France)
- Sofrigam Group (France)
- American Aerogel Corporation (US)
- Inmark Packaging (US)
- Cold Chain IQ (US)
- CRYO International (Netherlands)
- Tempur+Sealy International, Inc. (US)
- Softbox Systems Ltd (UK)
Cold Chain Packaging Market Recent Developments
- In March 2024, INEOS and Supply Chain Partners from across the flexible food packaging supply chain worked together to launch new, premium quality snack PP-packaging that contains 50% postconsumer recycled plastic (PCR) and meets stringent food contact requirements. The new packaging has been launched in the U.K. and Ireland for Sunbites, PepsiCo’s well-known snack brand.
- In March 2024, Myonex, a leading global clinical trial supply company, reached an agreement with the owners of Creapharm Group to acquire the Creapharm Clinical Packaging & Distribution and Commercial Packaging business and bioservices, headquartered in Reims, France with additional locations in Bordeaux and Bailly-Romainvilliers, France, and Marietta, Georgia, USA.
- In Februay 2024, packaging firm Logson Group acquired Challenge Packaging, in a bid to strengthen its offering in the south east of England. Business advisory firm Quantuma supported the shareholders of Sussex-based packaging manufacturer on its sale.
Cold Chain Packaging Key Market Trends
- Adoption of sustainable packaging materials: There is a growing emphasis on sustainability in packaging solutions, including cold chain packaging. Many stakeholders in the industry are actively exploring and adopting eco-friendly materials to reduce their environmental impact. For instance, biodegradable insulation materials, recyclable packaging, and reusable containers are gaining traction. These sustainable packaging options help minimize waste generation and support environmental conservation efforts.
Cold Chain Packaging Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Cold Chain Packaging Market analysis, the market is experiencing substantial growth and is expected to continue its upward trajectory in the coming years. The market analysis suggests that factors such as the increasing demand for temperature-sensitive pharmaceuticals and biologics, the expanding global trade of perishable food and beverages, and the stringent regulations governing cold chain logistics are the primary drivers fueling market growth. Furthermore, the adoption of sustainable and eco-friendly packaging materials, the integration of smart technologies for real-time monitoring and tracking, and the growing focus on optimizing efficiency and reducing carbon footprint are key trends shaping the market. The market research analysis indicates attractive opportunities, including the rising demand for cold chain services in emerging markets, the growth of e-commerce and online grocery delivery, and the need for reliable cold chain packaging solutions during the COVID-19 pandemic.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 27.12 Billion |
| Market size value in 2031 | USD 137.85 Billion |
| Growth Rate | 19.8% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Cold Chain Packaging Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Cold Chain Packaging Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Cold Chain Packaging Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Cold Chain Packaging Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Cold Chain Packaging Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Cold Chain Packaging Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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