The Global Cold Chain Packaging Market was valued at USD 20.5 Bn in 2020 and is expected to reach USD 45.6 Bn by 2027, with a growing CAGR of 12.1% during the forecast period.
Cold chain packaging is the packaging of any product that is temperature-sensitive, such as research samples, pharmaceuticals, or frozen foods. Cold chain packaging is an important process used for maintaining the thermal integrity in temperature-sensitive items during the time of preservation, transportation, and distribution.
The cold chain packaging market is accounted to boost at a significant pace in the forecast period. The cold chain packaging market is majorly experiencing traction owing to the growing demand for perishable products. This growing demand is due to increased consumers awareness regarding maintaining health and wellness, and the positive effect that food nutrients have on the overall physical & mental development and growth in the body. This has led to an increase in the consumption of perishable foods, such as fruits & vegetables, high-protein animal-based products, and dairy products. The cold chain packaging market plays a crucial role in maintaining the supply of these perishable products and the ensuring availability of food supplies across the globe. Therefore, the rise in the demand for perishable food products along with the growth of international trade due to trade liberalization policies is responsible for driving the cold chain packaging industry growth.
Further, the expansion of the organized food retail industry is another major factor contributing to driving the cold chain packaging market. Key food retail chains such as Tesco, Walmart, 7-Eleven, and Spar are heavily investing in expanding their outlets in developed markets such as Germany, the US, and the UK as well as in emerging nations including Brazil, China, and Argentina. Walmart, the largest retailer across the globe already has 11,000 retail stores located across 27 countries. The multinational retail corporation has unveiled its $11 billion capital expenditures guidance for Fiscal 2019 that includes investment plans to remodel approximately 500 stores and open 20 new locations. The giant has well-established transportation and distribution network for the supply of perishable goods. Therefore, the emergence of such giant retailers and their expanding operations in international trade are expected to create growth opportunities for the refrigerated warehousing and transportation market.
By Product Type
By Material Type
The unique insights provided by this report also include the following:
Based on product type, the insulated container and boxes segment accounted for the major share in the cold chain packaging market due to the increasing demand for reusable insulated containers across several applications
Based on product type, the cold chain packaging industry is divided into insulated containers & boxes, crates, cold packs, labels, and temperature-controlled pallet shippers. Among these, the insulated container and boxes segment accounted for the major market share. This is mainly due to the increasing demand for reusable insulated containers across several applications, such as fruits & vegetables, processed food, and fish, meat & seafood among others. In addition, these insulated containers & boxes help in minimizing the chance of condensation that damages the stored goods from rapidly changing temperatures by preventing the entry of rainwater inside. They also allow the goods to store for a longer duration without concerning about damages. These benefits offered by the insulated container and boxes are positively impacting the product demand.
Based on application, fish, meat & seafood application held the largest share in the cold chain packaging industry in the year 2020 mainly due to increasing volumes of meat products being exported from the Brazil and U.S. market
Based on application, the cold chain packaging market is fragmented into fruit & pulp concentrates, fruits & vegetables, dairy products, processed food, fish, meat & seafood, pharmaceuticals, bakery & confectionaries, and others. Among these, fish, meat & seafood application held the largest share in the cold chain packaging industry in the year 2020. This high share is due to the rising volumes of meat products such as chicken and beef, increasingly being exported from the Brazil and U.S. market. These meat products are prone to continuous, irreversible, and natural bio-physiochemical changes, and require to be stored at a particular frozen temperature range during their storage and transit activities. This has created a high demand for the cold chain industry, thereby majorly driving the cold chain packaging market.
Based on regions, Europe has dominated the cold chain packaging market across the globe owing to the high demand for advanced temperature packaging and monitoring solutions in this region.
Based on region, the cold chain packaging market is segmented as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these, Europe has dominated the cold chain packaging industry across the globe. The growth in this region is mainly attributed to the Western European countries including France, Germany, Italy, Spain, and the U.K. There is a drastic difference in the temperature profile of the countries in this region. Owing to this, advanced temperature packaging and monitoring solutions are needed to transport products that are temperature sensitive thus surging the cold chain packaging market demand. In addition, many major companies in this region are heavily investing in research and development activities to create advanced and innovative cold chain packaging solutions. For instance, in January 2020, Sofrigam, a company that designs high-quality cold chain shipping packaging solutions launched its Coldway Inside Technology at Temperature Control and Logistics (TCL), a leading conference in Europe held to discuss supply chain, temperature-controlled, and logistics for the pharmaceutical industry. This advanced solution helps in keeping the products intact requiring temperature between 0 and +25°C for up to 24 hours without any connection.
The report also provides in-depth analysis of Cold Chain Packaging market dynamics such as drivers, restraints opportunities and challenges
Note: Challenges along with in-depth market dynamics analysis is mentioned in the report.
The Covid-19 pandemic has majorly affected the growth of the cold chain packaging market across the globe. The outbreak has put immense pressure on the pharmaceuticals and food & beverages industries. These industries were put under essential services by the government in major economies, resulting in creating lucrative growth opportunities in the cold chain packaging industry. Covid-19 has prominently driven the cold storage industry by creating the need to store vaccines such as Moderna and Sputnik that needs cold storage up to -20°C. In addition, the pandemic has majorly impacted the supply chain across several industry verticals due to the lockdown imposed by several nations. This has resulted in food manufacturers shifting their focus not only to the food products, but also on their storage to improve their shelf-life, which is projected to create a higher demand in cold chain industry. Additionally, the lockdown imposed has created panic among consumers and shifted their focus towards an organized retail market to avoid any further virus outbreaks. This has led them to stockpile processed food products that has a longer shelf life to perishable foods items, creating a surge in the cold chain industry. Therefore, the outbreak has created a positive impact on the growth cold chain market, resulting in higher need for cold chain packaging and warehousing.
The report also provides an in-depth analysis of key trends in Cold Chain Packaging market
The report also provides in-depth analysis of recent news developments and investments
Company Profiles and Competitive Intelligence
The key players operating in the cold chain packaging industry are:
Priyanka has been writing chemicals & material market research reports for the last 12 years. A post-graduate, her specialization is in the chemicals sector. Preparing end-to-end reports covering minute details for market insights, competitive intelligence and trend analysis in the CMFE sector.