The cold chain packaging market in the United States and Canada is expected to reach a value of US$6.9 billion by 2023. It is projected to grow at a compound annual growth rate (CAGR) of 12.2% from 2023 to 2033, reaching a value of US$21.8 billion by the end of 2033.
By 2023, it is estimated that the top 5 producers of cold chain packaging in the United States and Canada will account for approximately 10% to 15% of the entire market. Cold chain packaging is becoming increasingly popular in industries such as meat, poultry, seafood, baking, and confectionery.
The rising demand for improved shipping of temperature-sensitive pharmaceutical products has led to advanced research in cold chain packaging insulation solutions. One such solution is vacuum-insulated packaging (VIP).
Vacuum-insulated packaging offers several advantages over insulated shippers made from polyurethane and expanded polystyrene. VIP-based shippers are lighter in weight and smaller in size, which reduces the need for refrigerants and cuts down distribution costs. CSafe, a leading producer of VIP, offers its exclusive ‘ThermoCor’ VIP combined with a protective buffer at a lower cost compared to conventional polyurethane shippers. The increasing preference for ocean freight, which often results in longer carriage times, is expected to further drive the adoption of VIP-based shippers.
Drivers and challenges have an impact on market dynamics, which can impact businesses. Find more insights in this sample report: https://www.futuremarketinsights.com/reports/sample/rep-gb-17132
Sonoco Thermosafe’s product, Greenbox, is designed for the pharmaceutical industry and utilizes VIP for insulation. It incorporates a patented renewable phase change material derived from plants. Sofrigam’s elite cooling boxes combine polyurethane and VIP and provide temperature stability for up to 240 hours.
Key Takeaways:
- The polymer segment by material type is likely to hold around US$ 15.2 Billion of the market value in 2033.
- The paper segment is estimated to witness a gain of 2.1x times by value and a CAGR of 14.2% during the forecast period.
- The gel packs segment by product type is anticipated to witness a 12.6% CAGR from 2023 to 2033.
- Phase change cold storage products segment is estimated to witness a gain of 3.8 times its value by the end of 2033.
- The reusable packaging segment by packaging format is anticipated to witness a CAGR of 12.7% in the assessment period.
“Reusable and disposable packaging options are provided by companies in both countries’ cold chain packaging markets. Manufacturers in the sector would also make key investments in research & development to make more affordable and temperature-efficient systems.” – Comments a lead analyst at FMI.
Advanced Technology for Enhancing Safety and Temperature Monitoring to Drive Sales:
One prominent area where passive packaging lacks behind active packaging is its tenuous ability to provide safety during transportation. Numerous companies are offering shippers equipped with temperature sensors, which immediately detect if the container has been opened during transportation.
A few shippers now come equipped with thermochromic labels that change color to provide visual verification that shippers are ready to pack. Pelican’s reusable shipper and Sofrigam’s Elite cooling box, for instance, come equipped with these sensors.
Data loggers with temperature sensors and USB connection points are becoming highly common and inexpensive to integrate. These label-like loggers effortlessly attach to the packaging, continually follow temperature conditions, and supply a comprehensive study for time & temperature data.
Battery-powered data loggers can include developed technologies such as WiFi, RFID, and GPS. It can deliver real-time details about temperature fluctuations. A few of the product offerings include BIOmed Xpress PDF, PakSense, and temperature monitoring LabelCCL100, cold chain logger, Tempt RIP, and Vaisala.
Growing Preference for PCM over Dry Ice and Other Coolants Might Boost the Market
Dry ice has been prominently used as a coolant for the passive packaging of temperature-sensitive food and pharmaceuticals since time immemorial. However, dry ice is dangerous if not handled with care and releases high-concentration carbon dioxide vapors.
It can, in turn, increase global carbon emissions. With the advent of economic inorganic phase change materials (PCMs), various temperature-controlled packaging solution providers have started offering PCM-equipped packaging solutions.
PCMs are non-hazardous, non-toxic, non-flammable, require less energy to freeze, and are reusable with the stability of 1000s of the cycle. Material compatibility, cost, and availability of PCMs pose a significant constraint toward their adoption.
Notable cost saving by deploying them in thermal packaging clearly outweighs the negatives. Prominent companies such as Sonoco, Tempack, Cold Chain Technology, Sofrigam, and Intelsius offer PCM-based packaging solutions. Rapid advancement and research & development are expected to push product innovation. It is further set to drop prices and drive the shift toward PCM over dry ice and gel packs.
Want your report customized? Speak to our analyst and personalize your report as per your needs: https://www.futuremarketinsights.com/customization-available/rep-gb-17132
Competitive Landscape:
Leading companies in the cold chain packaging business in the United States and Canada are making significant gains by creating innovative products. They would also benefit from recent initiatives and mergers made by well-known Canada- and United States-based players to obtain a competitive edge.
Key Companies Profiled in the United States & Canada Cold Chain Packaging Market are Sonoco Products Company, Sofrigam SAS, Cryopak Industries Inc., CSafe Global, LLC, DGP Intelsius LLC, TemperPack Technologies, Inc., Engineered Packaging, Inc. dba Chill-Pak, American Thermal Instruments, Mettcover Global, Nordic Cold Chain Solutions, RipplePak Ltd., Insulated Products Corporation, Klinge Corporation, Sealed Air Corporation, Cold Chain Technologies, Orora Packaging Solutions, Envirotainer AB, Emball’iso Inc, SÆPLAST AMERICAS INC., Atlas Molded Products (Atlas Roofing Corporation), Cascades Inc., Pelican Products, Inc.
For instance,
- In May 2021, CSafe developed a VIP insulated shipper for BioNTech’s facility. It provides 10+ days of temperature protection for vaccine shipments with minimal dry ice.
Get More Insights:
Future Market Insights (FMI), in its new report, offers an unbiased analysis of the United States & Canada cold chain packaging market, analyzing historical demand from 2017 to 2022 and forecast statistics for 2023 to 2033. The study reveals growth projections on the United States & Canada cold chain packaging market based on product type (pallet shippers, insulated containers, foam bricks, gel packs, protective packaging, phase change cold storage products), material type (polymer, metal, paper), packaging formats (reusable packaging, disposable packaging), end use (food, beverage, pharmaceutical, cosmetics & personal care), and country.
Market Categorization:
By Product Type:
- Pallet Shippers
- Insulated Containers
- Foam Bricks
- Gel Packs
- Protective Packaging
- Phase Change Cold Storage Products
By Material Type:
- Polymer
- Polyethylene
- Polypropylene
- PET
- EPS
- Polyurethane
- Others (PVC, Nylon, Teflon)
- Metal
- Paper
By Packaging Formats:
- Reusable Packaging
- Disposable Packaging
By End Use:
- Food
- Beverages
- Pharmaceutical
- Cosmetics & Personal Care
- Chemical
- Others (Textile, Electronics, Research Institutes, Building & Construction)
By Country:
- United States
- Canada
About Us:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
LinkedIn| Twitter| Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com
