The new report by Expert Market Research titled, ‘Global Cold Chain Packaging Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global cold chain packaging market, assessing the market based on its segments like products, end-use industries, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 13.8%
The rising demand for a variety of fresh and processed foods and the rising development of pharmaceuticals and vaccines that require temperature-controlled storage or packaging are likely to propel the growth of the global cold chain packaging market forward throughout the forecast period. The demand for cold chain packaging has been spurred by the increasing pressure on food processing industries to deliver food goods to consumers while retaining freshness and quality. The cold chain packaging keeps food goods’ physiological qualities and extends their shelf life. Additionally, the higher penetration of the numerous top food processing companies, higher demand for packaged food, and the increased consumption of on-the-go food products have significantly driven global market growth.
Industry Definition and Major Segments
The term “cold chain packaging” refers to the packaging and shipment of products that require a specified temperature to function properly. Cold chain packaging systems are divided into two categories: active and passive. Cold chain transport containers with modern electric or battery-powered temperature controls make up active systems. To keep the product at a constant temperature for up to 96 hours or more, passive packaging solutions use polyurethane or polystyrene insulation or vacuum-insulated panels.
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The various products in the market are:
• Insulated Containers
• Refrigerants
• Temperature Monitoring Devices
Based on end-use industry, the market is divided into:
• Food and Beverage
• Pharmaceuticals
• Others
On the basis of region, the market is segmented into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
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Market Trends
The rising popularity of dairy goods, fruits, vegetables, fish, meat, and other seafood is propelling the use of cold chain packaging among food makers and processors. Growing investments in research and development of efficient and sustainable packaging are projected to provide market players with a variety of growth opportunities soon. Along with this, the increasing production of various new and innovative pharmaceutical products like vaccines and drugs by the several leading pharmaceutical companies in the region is another prominent factor that is expected to spur the demand for cold packaging globally. Certain temperature-sensitive products in the pharma industry require cold chain packaging. The risks of losing properties due to the high temperature associated with some products have led to the growth in the demand for the cold chain packaging.
Key Market Players
The major players in the market are Sonoco ThermoSafe, Cold Chain Technologies, Cryopak, CoolPac, and Nordic Cold Chain Solutions, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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