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The latest report by IMARC, titled “ ColdChainPackagingMarket:GlobalIndustryTrends,Share,Size,Growth,OpportunityandForecast 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).
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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.
Looking forward, the market value is projected to reach a strong growth during the forecast period (2023-2028).
MarketSummary:
ProductInsights:
• Insulated Container and Boxes
• Large
• Medium
• Small
• X-Small
• Petite
• Crates
• Dairy
• Pharmaceutical
• Fisheries
• Horticulture
• Cold Packs
• Labels
• Temperature Controlled Pallet Shippers
EndUserInsights:
• Food
• Dairy
• Pharmaceutical
• Others
RegionalInsights:
• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Others
• Latin America
• Brazil
• Mexico
• Others
• Middle East and Africa
CompetitiveLandscapewithKeyPlayers:
• 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)
• Sonoco Products Company.
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https://www.imarcgroup.com/cold-chain-packaging-market
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