According to the latest report by IMARC Group, titled “Cold Chain Packaging Market: Global Industry, Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global cold chain packaging market reached a value of US$ 24.6 Billion in 2022. Cold chain packaging involves the packaging and shipping of goods requiring a specific temperature to maintain their efficiency. It consists of gel packs, bottles, thermal trolleys, vacuum-insulated panels, containers, crates, and refrigerant bricks to store perishable products, such as chemicals, biologics, vaccines, lab samples, diagnostic materials, seafood, meats, and dairy products. Cold chain utilizes active and passive packaging methods to keep products cold, improve transportation efficiency, and prevent wastage and damage. Amongst these, active packaging containers employ a power source, batteries or electricity, and a thermostat to control heating or cooling within the shipping container. On the other hand, a passive packaging container is manufactured using polystyrene (PS), polyurethane (PU), or vacuum insulated panels and phase change materials (PCM).
Cold Chain Packaging Market Trends:
The significant expansion in the pharmaceutical industry across the globe is creating a positive outlook for the market. Cold chain packaging is widely used for storing and distributing temperature-sensitive pharmaceutical products (TTSPPs), such as vaccines, medicines, and drugs. In line with this, rapid improvements in shipping and warehousing of pharmaceutical products due to the rising number of biopharmaceuticals imports and exports across countries are acting as another growth-inducing factor. Apart from this, the integration of the Internet of Things (IoT) with cold chain packaging to monitor temperature, remotely adjust the internal conditions, offer immediate data access, automate report generation, and enable predictive and descriptive real-time analytics is providing an impetus to the market growth. Additionally, the introduction of compact and innovative cold chain packaging containers with internal condition monitoring that are also easy to transport is favoring the market growth. Furthermore, increasing consumption of processed and frozen food products due to changing dietary habits, busy schedules, hectic lifestyles, and inflating disposable incomes is positively influencing the market growth. Other factors, including the escalating demand for unique packaging solutions, significant growth in the food and beverage (F&B) industry, and the implementation of various government initiatives toward increasing food safety and reducing wastage, are supporting the market growth. On account of the aforementioned factors, the market value is expected to reach US$ 47.4 Billion by 2028, exhibiting a CAGR of 11.3% during 2023-2028.
- Based on the product, the market has been classified into insulated container and boxes (large, medium, small, X-small and petite), crates (dairy, pharmaceutical, fisheries and horticulture), cold packs, labels, and temperature-controlled pallet shippers.
- On the basis of the end user, the market has been divided into food, dairy, pharmaceutical, and others.
- On a regional basis, the market has been categorized into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and Others) Latin America (Brazil, Mexico and Others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined, with some of the key players being Cascades Inc., Chill-Pak, Cold Chain Technologies Inc., CoolPac, Creopack, Cryopak Industries Inc., DGP Intelsius Ltd., Pelican Products Inc., Sealed Air Corporation, Sofrigam, Softbox Systems Ltd. (CSafe Global LLC) and Sonoco Products Company.
|Base Year of the Analysis
||Product, End User, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Cascades Inc., Chill-Pak, Cold Chain Technologies Inc., CoolPac, Creopack, Cryopak Industries Inc., DGP Intelsius Ltd., Pelican Products Inc., Sealed Air Corporation, Sofrigam, Softbox Systems Ltd. (CSafe Global LLC) and Sonoco Products Company.
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