The global cold chain packaging market, valued at USD 22.8 billion in 2022, is anticipated to grow significantly, reaching USD 26.1 billion by the end of 2023 and USD 103.7 billion by 2033. The market is expanding at a robust CAGR of 14.8% through 2033. This growth is driven by the increasing demand for temperature-sensitive products across various industries, including pharmaceuticals and food.
See How Things Have Changed: Access the Old Source for This Report!
Key Market Dynamics
1. Phase Change Cold Storage Products Dominance: Phase change cold storage products are expected to represent approximately 55% of all cold chain packaging products by the end of 2023. The rising demand for frozen food globally has significantly contributed to the adoption of these products, essential for maintaining the integrity of perishable goods during transportation.
2. Emphasis on Regulatory Compliance: There is a heightened emphasis on regulatory compliance in the food and pharmaceutical industries, driving the need for reliable cold chain packaging solutions to ensure product integrity and safety during transit.
3. Adoption of Advanced Technologies: Technological advancements in temperature monitoring and safety enhancements are pivotal in driving market growth. Innovations such as telematics, temperature sensors, cloud computing, and data loggers are enhancing the efficiency and reliability of cold chain packaging systems.
4. Demand for Reusable Shippers: There is a growing preference for reusable shippers among consumers and healthcare systems, driven by cost-efficiency and environmental considerations. These shippers offer increased payload capacity and reduce system weight, contributing to operational efficiencies.
Key Takeaways –
- Insulated containers segment by product type is anticipated to hold more than 1/3rd of the cold chain packaging market share by 2023.
- Reusable packaging formats is projected to exhibit a CAGR of 15.0% between 2023 and 2033.
- The polymer segment by material type is likely to account for around 3/5th of the cold chain packaging industry share in 2033.
- By end user, the food segment is estimated to create an incremental opportunity of USD 17 billion in the forecast period.
- Germany’s cold chain packaging market is likely to surge 3.6 times its present rate in the assessment period.
Regional Insights
1. USA – Dominant Market Hub: The USA is expected to dominate 80% of the cold chain packaging market by 2023, fueled by the rising trend of online grocery shopping. The implementation of regulations such as the sanitary transportation rule has further boosted the adoption of temperature-controlled shipping solutions across the country.
2. Germany – Exponential Demand Growth: Germany, as the largest pharmaceutical market in Europe, is projected to witness a significant surge in demand for cold chain packaging. The country’s robust healthcare infrastructure and high expenditure on medical treatments support the need for advanced cold-chain solutions to transport pharmaceutical and biological products safely.
Future Outlook
The global cold chain packaging market is poised for substantial growth driven by technological advancements, regulatory compliance requirements, and increasing consumer demand for perishable goods. Manufacturers and stakeholders are focusing on enhancing product offerings to meet evolving industry standards and capitalize on emerging market opportunities.
Competitive Landscape
Market participants in cold chain packaging are focusing on forming business partnerships with technological partners. It is projected that major investments in technologies like cloud computing and internet of things solutions will benefit cold chain packaging vendors in many ways. Superior cold chain packaging solutions in terms of control, visibility, and transparency are promised by these improvements.
Key Players
Sonoco ThermoSafe; Pelican Products, Inc.; Sofrigam SAS; Cryopak Industries Inc.; CSafe Global, LLC; Softbox Systems Ltd.; TOWER Cold Chain Solutions; DGP Intelsius LLC; TemperPack Technologies, Inc.; Tempack Packaging Solutions SL; Dokasch Temperature Solutions; Cold Chain Technologies; Insulated Products Corporation.; Engineered Packaging, Inc. dba Chill-Pak; CoolPac; Sealed Air Corporation; United Parcel Service of America, Inc.; Orora Packaging Solutions.; Global Cold Chain Solutions.; Thermal Packaging Solutions Ltd.; Emballages Cre-O-Pack Intl; Nordic Cold Chain Solutions
Few of the recent development by leading players are:
- In October 2022, CSafe launched its new reusable pallet shipper named CSafeAPS. It provides reliable and customizable thermal protection at refrigerated and frozen temperatures.
- In May 2022, Cryopak, a leading manufacturer of temperature control packaging solutions and temperature monitoring devices expanded its new facilities in Atlanta to better meet the rising demand of its Southeast customers.
Cold Chain Packaging Market Outlook by Category
By Product Type:
- Pallet Shippers
- Insulated Containers
- Foam Bricks
- Gel Packs
- Protective Packaging (Foams Sheets)
- Phase Change Cold Storage Products (Plates, Microcapsules, Bags and Balls)
By Material Type:
- Polymer
- Polyethylene
- Polypropylene
- Polyethylene Terephthalate
- Expanded Polystyrene
- Polyurethane
- Others
- Metal
- Paper
By Packaging Formats:
- Reusable Packaging
- Disposable Packaging
By End Use:
- Food
- Beverages
- Pharmaceutical
- Cosmetics & Personal Care
- Chemical
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
