WASHINGTON, May 18, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Cold Chain Packaging Market finds that increasing demand for packaging solutions from food processing industry, changing lifestyle of people, rising population, and rapid urbanization in emerging economies such as China, India, and Mexico are some factors that accelerating the growth of Cold Chain Packaging Market in recent days. In addition, increased use of processed food items such as meat, frozen fruits & vegetables, seafood, and dairy products have increased the demand for Cold Chain Packaging Market in recent years.
The total Global Cold Chain Packaging Market is estimated to reach USD 34.7 Billion by the year 2028.
The Global Market revenue value stood at USD 19.7 Billion in the year 2021 and is projected to grow exhibiting a Compound Annual Growth Rate (CAGR) of 9.9%, states Vantage Market Research, in a report, titled “Cold Chain Packaging Market Size, Share & Trends Analysis Report by Product (Crates, Insulated Container & Boxes, Cold Packs, Labels Temperature Controlled Pallet Shippers), by Material (Insulating Material, Refrigerants), by Application (Fruits & Vegetables, Fruit & Pulp Concentrates, Dairy Products, Fish), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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Market Dynamics:
Drivers:
Massive Demand from Pharmaceutical Industry Drives the Market
Cold chain packaging is majorly used for storing temperature sensitive products in pharmaceutical sector. Pharmaceutical cold packaging includes vacuum insulated panels, pallet shippers, containers, boxes used for vaccine, insulin, antibiotics, reagents, hormones, infusions/injections, cellular therapies, biologics and some others. Thus, exhaustive demand for cold chain packaging technique in pharmaceutical industry is influencing high growth for Cold Chain Packaging Market in coming years. In addition, increasing pharmaceutical global trade is propelling the growth of the Cold Chain Packaging Market in recent years.
Key Insights & Findings from the Report:
- According to our primary respondents’ research, the Cold Chain Packaging market is predicted to grow at a CAGR of roughly 9.9% during the forecast period.
- The Cold Chain Packaging market was estimated to be worth roughly USD 19.7 Billion in 2021 and is expected to reach USD 34.7 Billion by 2028; based on primary research.
- On the basis of region, Asia Pacific is projected to dominate the worldwide Cold Chain Packaging market.
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Segmentation of the Global Cold Chain Packaging Market:
- Product
- Crates
- Insulated Container & Boxes
- Cold Packs
- Labels Temperature Controlled Pallet Shippers
- Material
- Insulating Material
- Refrigerants
- Application
- Fruits & Vegetables
- Fruit & Pulp Concentrates
- Dairy Products
- Fish
- Meat & Seafood
- Processed Food
- Pharmaceuticals
- Bakery & Confectionaries
- Others
- Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Restraint:
Stringent Regulation and High Cost Hampers the Market Growth
The cold chain packaging of products is comparatively costly than standard packaging. To keep best quality product and to meet required design specification, the technically advanced raw material and skilled workforce is required. Thus, the cost of quality product is high as compared to normal packaging product. In addition, increasing regulatory issues creating lots of obstacles in supply chain. In order to meet the regulation, many industry players have to select appropriate material to lessen harm the environment. For instance, according to the guidelines provided by Central Drugs Standard Control Organization (CDSCO), Pharmaceutical products shall be stored and transported in accordance with procedures such as, appropriate environmental conditions are maintained, e.g. using cold chain for thermo labile products. Thus, the complex regulations and high product cost are impeding the growth of Cold Chain Packaging Market during forecast years.
COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the electronics industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
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The Report on Cold Chain Packaging Market Highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Regional Analysis:
Europe Holds Maximum Market Share
Europe accounted to have maximum growth for Cold Chain Packaging Market during forecast period. This growth is captured, owing to the increasing demand for online grocery shopping. Consumers majorly interested to shop packaged food products via online stores, which in turn, increases the Cold Chain Packaging Market demand in this region.
In addition, various innovation and use of advanced technology in cold chain packaging is accelerating high demand for Cold Chain Packaging Market in this region. Furthermore, large presence of industry participants is likely to influence the growth of Cold Chain Packaging Market in this region.
List of Prominent Players in the Cold Chain Packaging Market:
- Cascades Inc.
- Cold Chain Technologies
- Creopack
- Cryopak A TCP Company
- Intelsius
- Pelican Products Inc.
- Softbox
- Sofrigam
- Sonoco Thermo Safe
- Va-Q-tec
Browse market data Tables and Figures spread through 149 Pages and in-depth TOC on "Cold Chain Packaging Market Size, Share & Trends Analysis Report by Product (Crates, Insulated Container & Boxes, Cold Packs, Labels Temperature Controlled Pallet Shippers), by Material (Insulating Material, Refrigerants), by Application (Fruits & Vegetables, Fruit & Pulp Concentrates, Dairy Products, Fish), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here - https://www.vantagemarketresearch.com/press-release/cold-chain-packaging-market-614281
Recent Developments:
September, 2020: Sonoco Thermo Safe introduced its new Pegasus ULD bulk temperature-controlled container which is one of the world’s first passive bulk temperature-controlled container for pharmaceutical use.
June, 2020: Soft box developed ECO packaging solution Tempcell ECO. It is made from 100% corrugated cardboard and utilises the company's Therma flute patent-pending plastic-free insulation technology.
April, 2020: Cryopak launched its next entry in an expanding line of ecologically friendly shipping solutions with Solversa. Solversa is a 100% sustainable and recyclable product line made from post-consumer recycled PET or cotton fibers.
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Cold Chain Packaging Market?
- How will the Cold Chain Packaging Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Cold Chain Packaging Market?
- What is the Cold Chain Packaging market drivers and restrictions?
- What will be the CAGR and size of the Cold Chain Packaging Market throughout the forecast period?
This market titled “Cold Chain Packaging Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Parameter | Details |
| Market Size Provided for Years | 2016-2028 |
| Base Year | 2021 |
| Historic Years | 2016-2020 |
| Forecast Years | 2022-2028 |
| Segments Covered |
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| Region & Counties Covered |
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| Companies Covered |
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| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis |
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