The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

 

 

The cold chain packaging market has witnessed a remarkable surge in recent years, poised for substantial growth. From $28.02 billion in 2023, it is projected to reach $31.92 billion in 2024, showcasing a commendable compound annual growth rate (CAGR) of 13.9%. The historic period’s expansion is attributed to the global expansion of pharmaceutical and healthcare industries, heightened demand for temperature-sensitive biologics and vaccines, increased emphasis on food safety and quality assurance, amplified global trade in frozen and chilled foods, and the thriving biotechnology and life sciences sector.

 

 

Onward to Frosty Horizons: Forecasted Rapid Growth

Projections for the Future

The cold chain packaging market is not just freezing, it’s poised for rapid growth in the coming years. By 2028, it is estimated to surge to $54.99 billion, boasting an impressive compound annual growth rate (CAGR) of 14.6%. The anticipated growth is attributed to the expansion of e-commerce and online grocery delivery services, the adoption of cold chain technologies in emerging markets, the increasing significance of last-mile delivery in the cold chain, growth in the cell and gene therapy sector, and the escalating demand for sustainable and eco-friendly packaging solutions. Key trends in the forecast period encompass innovations in insulation and thermal barrier materials, active and passive temperature-controlled packaging, integration of IoT and sensor technologies, single-use and eco-friendly packaging solutions, and pharmaceutical packaging with serialization and traceability.

 

 

Major Contributors to Future Growth

1. Expansion of E-commerce: A significant driver in cold chain packaging market growth.
2. Adoption of Cold Chain Technologies: Particularly pronounced in emerging markets.
3. Last-Mile Delivery Emphasis: Acknowledging the importance of the final stretch in the cold chain.
4. Cell and Gene Therapy Sector Growth: Fueling the demand for specialized packaging.
5. Sustainable Packaging Demands: Reflecting a broader global trend towards eco-friendly solutions.

 

 

Rapid Urbanization Fuels Growth In Cold Chain Packaging Market

Urbanization: A Catalyst for Market Surge

Rapid urbanization is expected to be a pivotal force propelling the growth of the cold chain packaging market in the forecast period. As urban areas burgeon and demand more resources to cater to a growing population, the need for efficient and reliable cold chain packaging becomes paramount. Rising urban populations, currently at approximately 4.46 billion globally in 2021, are projected to escalate to 6.68 billion by 2050. This urban surge is accompanied by an increased demand for processed and easily consumable food items, such as frozen fruits and vegetables, dairy products, seafood, and meat. Cold chain packaging becomes essential in ensuring the safe transit and storage of these perishable items. The exponential growth in urbanization is intricately linked to the thriving cold chain packaging market.

 

 

Key Market Players Steering the Course

Major companies contributing to the growth of the cold chain packaging 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

 

 

Growth Of Sustainable Cold Chain Packaging Solutions In The Market

Sustainable Packaging on the Rise

One prominent trend in the cold chain packaging market is the increasing focus on sustainable solutions. Recognizing the environmental impact of inefficient cooling methods, major companies are investing in reusable, multi-use, and materials-based temperature-controlled packaging solutions. Sustainable packaging not only contributes to reduced CO2 emissions but also aligns with governmental regulations to curb carbon footprints. A notable example is the initiative by Packaging Technology Group (PTG) in January 2022, introducing the cold chain industry’s first extended-duration, curbside recyclable thermal shipper that maintains 2-8 °C for 72 hours.

Strategic Acquisition for Sustainability

In March 2022, Cold Chain Technologies LLC, a US-based packaging company, acquired Packaging Technology Group, LLC for an undisclosed amount. This strategic move aims to enhance Cold Chain Technologies’ portfolio, providing innovative and sustainable packaging solutions to a global customer base. The acquisition focuses on delivering environmentally responsible cold chain packaging solutions, aligning with the broader trend towards sustainability.

 

 

Market Segmentation: Understanding the Landscape

The cold chain packaging market is segmented based on:

1. Product: Crates, Insulated Container And Boxes, Cold Packs, Label, Temperature Controlled Pallet Shippers
2. Material Type: Expanded polystyrene (EPS), Vacuum insulated panel (VIP) solutions, Polyurethane (PUR)
3. Application: Fruits And Vegetables, Fruit And Pulp Concentrates, Dairy Products, Fish, Meat And Seafood, Processed Food, Pharmaceuticals, Bakery And Confectionaries

 

 

Regional Insights

In 2023, Western Europe emerged as the largest region in the cold chain packaging market, showcasing the region’s leadership in implementing advanced cold chain solutions. Looking forward, Asia-Pacific is anticipated to be the fastest-growing region, reflecting the dynamic growth in emerging markets and the increasing adoption of cold chain technologies.

 

 

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https://www.thebusinessresearchcompany.com/report/cold-chain-packaging-global-market-report

 

 

The Cold Chain Packaging Global Market Report 2024 provides an overviewof the cold chain packaging market for the time series: historic years (2010 -2021) and ten years forecast (2023 – 2032).The cold chain packaging market forecast analyzescold chain packagingmarket size, cold chain packaging market share,leading competitor and their market positions.

 

 

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