New York (US), Aug. 08, 2023 (GLOBE NEWSWIRE) -- Cold Chain Packaging Market Overview
The research documents by MRFR indicate that the “Cold Chain Packaging Market Research Report Information by Product Type, Region, and Application - Forecast Till 2030”, the Cold Chain Packaging market is predicted to grow substantially over the assessment timeframe from 2022 to 2030 at a healthy CAGR of around 15.50%. The reports even share predictions regarding the market's growing revenue share, which will likely reach USD 79.7 Billion by the end of 2032. As per the study documents, the market was worth around USD 21.8 Billion in 2022.
Market Scope
The global Cold Chain Packaging industry has advanced enormously. The primary aspect causing a surge in the performance of the market is the rising demand for packaging solutions from the global food processing industry.
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Competitive Analysis
The catalog of the top leaders across the global Market for Cold Chain Packaging includes players such as:
- Cold Chain Technologies
- Softbox Systems
- Peli BioThermal
- Cryopa
- Orora Group
- Tempack
- Sonoco ThermoSafe
- Nordic Cold Chain Solutions
- CREOPACK
- Intelsius
- Sofrigam
- Sealed Air Corporation
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size 2032 | USD 79.7 Billion |
| Compound Annual Growth Rate (CAGR) | 15.50% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | The rising demand for packaging solutions from the global food processing industry, changing lifestyle of people, and growing population |
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Market USP Covered
Market Drivers
The global Cold Chain Packaging industry has advanced enormously in recent years. The primary aspect causing a surge in the performance of the market is the rising demand for packaging solutions from the global food processing industry. Furthermore, factors such as changing lifestyles, the quickening pace of urbanization, and population growth will likely enhance the market's growth over the coming years.
Market Restraints
However, some aspects may limit the market's performance. The main aspect limiting the market's development is the high costs linked.
COVID-19 Impact
The global health hazard of COVID-19 has impacted most industry operations in the last few years. The health emergency affected the industry operations and tremendously impacted public health in nearly 225 nations. The Cold Chain Packaging industry was no exception to this. The supply chain disruptions and partial or complete lockdowns around various regions worldwide led to several disruptions in market operations. However, with the rapid recovery of the global economy, the market is predicted to showcase substantial development over the review era.
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Segment Analysis
Among all the product types, the pallet shippers segment secured the leading position across the global market for cold chain packaging in 2022. The main parameter supporting the segment's growth is that they offer both seasonal and all-year-round temperature protection covering. These are regularly highly efficient, reusable large-capacity shipping systems. They are also compact and lightweight, further lowering transportation costs. These containers are normally utilized for frozen, refrigerated, or controlled room temperature shipments, conveying processed agricultural products, farm produce, pharmaceutical medications, and many other items because of their remarkable occupancy capacity ratio and low volumetric weight.
Among all the application areas, the food segment secured the leading position across the global market for cold chain packaging in 2022. The main parameter supporting the segment's growth is the increased quantities of beef and poultry. Meat products must be frozen during transportation and storage because they are susceptible to ongoing, natural, and irreversible bio-physiochemical changes.
Regional Analysis
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World.
The research documents by MRFR indicate that North America held the top position across the global Cold Chain Packaging industry in 2022, with a contribution of nearly 45.80%. The Region has Mexico, Canada, and the U.S. as the leading development contributors. Further, the U.S. Cold Chain Packaging Market held the largest market share, and Canada was the fastest-growing North American Region. The main aspect supporting regional market expansion is the presence of many big industrial players in the Region. Furthermore, more people are choosing to consume fresh and organic foods such as organic eggs, organic milk, and fresh leafy vegetables, which necessitates crucial packaging and handling precautions at every stage of storage and transit to prevent rotting.
The European Region anticipates showing the maximum growth rate across the global Cold Chain Packaging industry over the coming years. The Region has France, Germany, and the U.K. as the leading development contributors. Further, the German Cold Chain Packaging Market held the largest market share, and the U.K. was the fastest-growing Market in Europe. The main aspect supporting regional market expansion is that some of the biggest food exporters to the U.K., Germany, contribute around 14% of all food and beverage imports. It exports meat, vegetables, and fruits worth nearly USD 760 million a year to the U.K. Furthermore, factors such as rising healthcare expenditures, consumer demand for processed foods, and growth of the organized food retail sector are also likely to have a positive impact on the development of the regional market over the coming years.
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The Asia-pacific Region will likely secure multiple positions across the global Cold Chain Packaging industry over the coming years. India, China, and Indonesia are the leading development contributors in the Region. Further, the China Cold Chain Packaging Market held the largest market share, and India was the fastest-growing market in the Asia-pacific Region. The emerging economies' rapid economic expansion is the main aspect supporting regional market expansion. Furthermore, the escalating demand for medications due to the aging population is also considered to be one of the crucial aspects causing a surge in the regional market performance.
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