Cold Chain Packaging Market Trends

Global Cold Chain Packaging Market Overview

Cold Chain Packaging Market Size was valued at USD 21.8 Billion in 2022. The Cold Chain Packaging Industry is projected to grow from USD 25.2 Billion in 2023 to USD 79.7 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 15.50% during the forecast period (2023 - 2032). The expanding population, changing lifestyles of individuals, and the global food processing industry's increasing demand for packaging solutions, are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Cold Chain Packaging Market Trends

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  The rising demand for packaging solutions from the global food processing industry is driving the market growth

  
  

The expansion of the packaging solutions market can be ascribed to an increase in demand from the worldwide food processing sector. The main forces behind increasing demand are population growth, changing lifestyles, and the quickening pace of urbanisation in developing nations like China, India, and Mexico. While the increase in population has sparked a need for food goods, people are increasingly choosing processed and convenient meal options due to changing lifestyles. Worldwide, there is a significant demand for processed foods such as frozen fruits and vegetables, dairy products, fish, and meat. Such foods need to be packaged effectively for storage and transportation. More than 6 billion pounds of ground beef are consumed annually in the United States.

Food quality is crucially preserved by cold chain packaging, which helps to slow biological degradation of the items and assures the food is safe and of high quality for end customers. The need for products and solutions for cold chain packaging has also expanded as a result of the rising population's greater consumption of preserved foods and beverages. The expansion of organised retail is a result of consumers' need for convenience while purchasing nutritious foods. The top priority for food and beverage firms continues to be food safety and control measures to prevent food-borne illnesses. Companies in the food sector are employing cutting-edge packaging materials and techniques, such as electro-spun fibres and biologically derived polymers, to prevent the spread of food-borne bacterial infections.

For the companies that provide pharmaceutical packaging solutions, the rising popularity of innovative biological medicine formulations is also creating new difficulties. Interleukins, antibodies, and vaccinations are examples of biological medications that differ from traditional small-molecule formulations. Additionally, there is occasionally a chance that the packing materials could interact with the drug itself. New materials are now primarily required to store the most recent biological medication formulations as a result of this. The glass vial is one of the packing types that needs to be changed right away. Some of the most recent biological medications have a tendency to delaminate glass, which causes glass to flake in solutions. Therefore, those who offer packaging solutions are searching for cutting-edge methods to lessen the undesirable delamination effect.

The infrastructure for creating cold chain packaging requires a significant initial investment. The market for cold chain packaging is primarily constrained by high material costs and the scalability of various packaging techniques. Given that it shields pharmaceutical items from outside influences, biological contaminations, and other harms that can adversely affect the product's integrity, packaging occurs to be an essential component of the delivery system for pharmaceutical products. Some of the main factors influencing the development of the market include the adoption of more sophisticated production techniques, technological advancements, and the tightening regulatory environment. Thus, driving the Cold Chain Packaging market revenue.

Cold Chain Packaging Market Segment Insights

Cold Chain Packaging Product Type Insights

The Cold Chain Packaging Market segmentation, based on product type, includes EPS containers, PUR containers, pallet shippers, vacuum insulated panels, and others. The pallet shippers segment accounted for the largest market share in 2022. These products have an advantage over other cold packing options since they provide both seasonal and all-year-round temperature protection covering. These are often highly efficient, reusable large-capacity shipping systems. They are also lightweight and compact, which further lowers the cost of transportation. These containers are frequently used for frozen, refrigerated, or controlled room temperature shipments, conveying farm produce, processed agricultural products, pharmaceutical medications, and many other items due to their remarkable occupancy capacity ratio and low volumetric weight.

Cold Chain Packaging Application Insights

The Cold Chain Packaging Market segmentation, based on application, includes pharmaceuticals, food, and industrial. The food segment accounted for largest market share in 2022. This high percentage can be attributed to the increased quantities of beef and poultry that are shipped from the United States and Brazil. Meat products must be kept frozen during transit and storage because they are susceptible to natural, ongoing, and irreversible bio-physiochemical changes. Between 2023 and 2030, the fruits and vegetable market is anticipated to rise significantly. In order to keep fresh fruits and vegetables until they are consumed, proper refrigeration is required. Food manufacturers and businesses that process food can better manage their operations with the aid of an effective packaging solution.

Figure 1: Cold Chain Packaging Market, by Application, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Cold Chain Packaging Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Cold Chain Packaging Market dominated the global market in 2022 (45.80%). Because there are so many big industrial players in the region, there is tremendous market fragmentation, which accounts for the high market share of the area. Additionally, more people are choosing to consume fresh and organic foods including fresh leafy vegetables, organic milk, and organic eggs, which necessitates crucial packaging and handling precautions at each stage of storage and transit to prevent rotting. In turn, this is accelerating the expansion of the local market. Further, the U.S. Cold Chain Packaging market held the largest market share, and the Canada Cold Chain Packaging market was the fastest growing market in the North America region.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: COLD CHAIN PACKAGING MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Cold Chain Packaging market is expected to register fastest growth from 2023 to 2032. One of the biggest food exporters to the U.K., Germany accounts for around 14% of all food and beverage imports. It exports meat, fruits, and vegetables worth around USD 760 million a year to the UK. The growth of the organised food retail sector, consumer demand for processed foods, and rising health-care expenditures are driving the need for a cold chain. Further, the German Cold Chain Packaging market held the largest market share, and the U.K Cold Chain Packaging market was the fastest growing market in the European region

The Asia Pacific Cold Chain Packaging market accounts for the significant market share. This is due to the emerging economies' rapid economic expansion. It is anticipated that emerging economies like India, Singapore, Thailand, and China will help the regional market expand. High demand for medications as a result of the ageing population would help boost the Asia Pacific pharmaceutical business. Moreover, China’s Cold Chain Packaging market held the largest market share, and the Indian Cold Chain Packaging market was the fastest growing market in the Asia-Pacific region.

Cold Chain Packaging Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Cold Chain Packaging market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Cold Chain Packaging industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Cold Chain Packaging industry to benefit clients and increase the market sector. In recent years, the Cold Chain Packaging industry has offered some of the most significant advantages to medicine. Major players in the Cold Chain Packaging market, including Cold Chain Technologies, Peli BioThermal, Orora Group, Sonoco ThermoSafe, CREOPACK, Sofrigam, Intelsius, Nordic Cold Chain Solutions, Tempack, Cryopa, Softbox Systems, and Sealed Air Corporation, are attempting to increase market demand by investing in research and development operations.

Ranpak Holdings Corporation offers systems-based, environmentally friendly product protection solutions for e-Commerce and commercial supply chains. The business provides a complete line of paper consumables and protective packaging products. Geographically, Europe and Asia account for the lion's share of its revenue. The eco-friendly chill pack manufacturer Recycold chill Solutions BV was purchased by Ranpak Holdings Corp. in December 2021. Ranpak's Cold Chain packaging solutions now include Recycold Cool Packs, which, in contrast to traditional cool packs, are made from a drain-safe, plant-based gel.

CSafe is a producer and supplier of cold chain tools and thermal transportation services for the biotech, pharmaceutical, aviation, military, and logistics sectors. In order to meet the needs of the worldwide supply chain, the company offers cold chain equipment, active air cargo solutions, passive parcels, cell and gene solutions, mobile refrigeration units, and temperature-sensitive bio-pharmaceutical cargo. In order to lead the globe in offering cold chain solutions for the pharmaceutical industry, CSafe Global purchased SoftBox Systems in December 2021. Due to the COVID-19 outbreak, both businesses combined their expertise to provide a one-stop shop for temperature-sensitive goods in next-generation gene and cell therapy, biologics, and recently developed mRNA therapies.

Key Companies in the Cold Chain Packaging market include

• Cold Chain Technologies


• Peli BioThermal


• Orora Group


• Sonoco ThermoSafe


• CREOPACK


• Sofrigam


• Intelsius


• Nordic Cold Chain Solutions


• Tempack


• Cryopa


• Softbox Systems


• Sealed Air Corporation

Cold Chain Packaging Industry Developments

March 2022 A well-known supplier of environmentally friendly, curbside-recyclable thermal packaging solutions for the life sciences sector, Packaging Technology Group, LLC, has been acquired by Cold Chain Technologies, LLC.

March 2021 A new smart cold chain technology solution for vital, temperature-sensitive pharmaceuticals and biologics was introduced by Cold Chain Technologies in collaboration with Cloudleaf. The Cloudleaf Digital Visibility Platform will make it possible to get real-time information about the conditions and temperature of shipping containers, which will further aid to prevent product rotting or wastage.

In March 2023, Ranpak follows with its RecyCold climaliner solution which is a thermal liner made of paper put into use for cold chain packaging. The solution guarantees product integrity without compromising on the environment as they are recyclable and sustainable while ensuring the goods stay at the optimal temperature between 28 to 48 hours at maximum.

In October 2023, substantiates these assertions, as they suggest that Cold Chain Technologies have gained Exeltainer, a global supplier of thermal packaging solutions for the life sciences present in Brazil and Spain. With this acquisition, it aims to increase its portfolio of sustainable packaging products for the cold chain industry.

In December 2021, CSafe Global purchased SoftBox Systems in an effort to dominate cold chain solutions suited for pharmaceutical firms throughout the world. In order to serve the requirements for their experience in next generation gene and cell therapies as well as biologics and the newer mRNA therapies due to covid the two companies came together to form a suite that would address all temperature-controlled supply chains requirements.

In December 2021, Ranpack introduced its cold chain product line with the purchase of Recycold Cool Solutions BV a green cool pack manufacturer. Together they combined their expertises to provide environmentally friendly packaging solutions for the cold chain sector. Further, the purchase* increased Ranpack’s market penetration in Europe and USA.

In March of 2021, Cold Chain Technologies formed a joint venture with Cloudleaf to develop a smart cold chain technology for important temperature-sensitive medicines and biopharmaceuticals. Cloudleaf's Digital Visibility Platform would enable capturing real-time data regarding the circumstances and the temperature of containers, further helping to mitigate product losses or waste.

In March 2021, Cold Chain Technologies entered into a joint venture with B Medical Systems of Luxembourg for offering life-science centered thermal shipping and storage solutions. With this merger Cold Chain Technologies diversified its range of active and passive cold chain packaging solutions targeting the life science market.

Cold Chain Packaging Market Segmentation

Cold Chain Packaging Product Type Outlook

• EPS Containers


• PUR Containers


• Pallet Shippers


• Vacuum Insulated Panels


• Others

Cold Chain Packaging Application Outlook

• Pharmaceuticals


• Food


• Industrial

Cold Chain Packaging Regional Outlook

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  North America

  
  
  
  
  • US
  
  
  • Canada
  
  
  
  


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  Europe

  
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


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  Asia-Pacific

  
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


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  Rest of the World

  
  
  
  
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    Middle East

    
    
  
  
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    Africa

    
    
  
  
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    Latin America