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Cold Chain Packaging Market to Hit USD 43.40 Billion by 2028; Increasing Usage in Transportation of Perishable Items to Augment Growth, Says Fortune Business Insights™

[150 Pages Report] Top companies covered in cold chain packaging market research are Cold Chain Technologies (USA), Pelican BioThermal (USA), Sonoco ThermoSafe (USA), Softbox Systems (UK), Sealed Air Corporation (USA), CREOPACK (Canada), Sofrigam (France), Intelsius (UK), Nordic Cold Chain Solutions (USA), Tempack (Spain), Cryopak (USA) and more players profiled

/EIN News/ -- Pune, India, July 28, 2021 (GLOBE NEWSWIRE) -- The global cold chain packaging market size is expected to gain momentum by reaching USD 43.40 billion by 2028 while exhibiting a CAGR of 10.8% between 2021 to 2028. In its report titled “Cold Chain Packaging Market, 2021-2028.”, Fortune Business Insights mentions that the market stood at USD 19.36 billion in 2020.

The demand for complex biological-based medicines, vaccines, hormones, and complex proteins has increased due to the rising prevalence of chronic diseases in recent years. Besides their storage, the shipments require cold chain refinements for transportation purposes at optimum temperature. Therefore, the demand for the product is expected to surge in the forthcoming years.

COVID-19 Impact

The pandemic has put the pharma and food industry under immense pressure. These sectors were put under essential services by the governments. Thus, the role of the cold supply chain became important to maintain their quality. However, the market suffered a moderate loss due to cross-border restrictions and disruptive logistic services during the lockdown. For instance, a report published by the United States Department of Agriculture GAIN report, in 2020, states that leading milk producers in Europe such as Germany and France were negatively impacted in terms of production as well as consumption. This in turn affected the cold chain logistics, as milk is one of the key materials of cold chain logistics.

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List of Key Players Profiled Cold Chain Packaging Market are:

  • Cold Chain Technologies (USA)
  • Pelican BioThermal (USA)
  • Sonoco ThermoSafe (USA)
  • Softbox Systems (UK)
  • Sealed Air Corporation (USA)
  • CREOPACK (Canada)
  • Sofrigam (France)
  • Intelsius (UK)
  • Nordic Cold Chain Solutions (USA)
  • Tempack (Spain)
  • Cryopak (USA)

Market Segmentation:

Based on product type, the market for cold chain packaging is divided into EPS containers, PUR containers, pallet shippers, vacuum insulated panels, and others.

Based on the product type, the pallet shippers segment held a market share of about 36.40 % in 2020. The segment is expected to experience considerable growth backed by its large shipping capacity systems that are effective as well as reusable. Additionally, these provide universal temperature protection coverage, thereby giving it an advantage over the other cold packaging solutions.

 By its application the market is divided into, Finally, based on region, the market is categorized into Europe, North America, Asia-Pacific, Latin America, and the Middle East and Africa.

What does the Report Provide?

The global market report provides a detailed analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to introduce new products, announce partnerships, and collaborate that will further contribute to the market growth. 

Browse Detailed Summary of Research Report with TOC:

Driving Factor

Increasing Trade of Medicinal Drugs to Propel Market Growth

The increasing trade of medicines, vaccines, and other medical drugs is driving the cold chain packaging market growth. Pharmaceutical companies are investing heavily in cold packaging solutions to maintain the efficiency of the drugs and vaccines. For instance, a report by Pharmaceutical Commerce’s annual Biopharma Cold Chain Sourcebook states that biopharma companies spent around USD 15 billion in cold chain logistics in the year 2019. This spending is expected to increase at an impressive rate in the upcoming years. Additionally, the COVID -19 vaccine drive is also positively promoting market growth globally.

On the contrary, in order to meet specific designing & regulations, technically skilled manpower & advanced raw material is required. This all comes with high cost, which results in higher capital investment & increased packaging cost. Besides the complex regulatory issues are also affecting the market negatively.

Regional Insights

Europe to Dominate Owing to Varying Temperature Profile

Europe is expected to hold the largest cold chain packaging market share during the forecast period. This is ascribable to the various temperature profile changes around the region. Thus, the region requires advanced temperature monitoring and packaging solutions. Additionally, Germany imports large quantities of fruits, vegetables, meat, fish, and milk products in chilled and frozen forms. It is regarded as the leader in the food and beverage market in Europe, which strongly supports the growth of the cold packaging business in the region. The regional market stood at USD 6.40 in 2020.

Asia Pacific is expected to showcase a significant CAGR in the upcoming years. This is owing to the rapid development of cold storage projects, developing infrastructure, and rising disposable incomes of people in the region. In addition, China, Japan, and South Korea are known to have well-established supply chains, as well as renowned companies that provide a wide range of cold packaging products. This is promoting their regional market growth.

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Competitive Development

Key Players to Focus on Acquisition Strategies to Brighten Their Market Prospects

The market for cold chain packaging is consolidated by the presence of major companies that are striving to maintain their position by focusing on launching new products and acquisitions. For instance, in February 2020, Pelican BioThermal acquired NanoCool. This acquisition will increase the product portfolio in Latin America. Moreover, other key players are adopting proactive strategies such as mergers, and facility expansion to favor the market's growth in the forthcoming years.

Key Industry Development

  • January 2019: Cold packaging provider Softbox, launched its new pallet and parcel shipping systems. The new venture is named Tempcell ECO, Tempcell MAX, and Silverpod MAX.

Detailed Table of Content:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
    • Key Trends
  • Key Insights
    • Latest Technological Developments
    • Key Developments
    • Insights on Regulatory Scenario
    • PORTER’s Five Forces Analysis
    • Global Top 10 Pharmaceuticals Market Overview
    • Global Top 10 Food Market Overview
  • COVID-19 Impact Analysis
    • Supply Chain Challenges
    • Steps Taken by Companies to combat COVID-19
    • Potential Opportunities due to COVID-19 Outbreak
  • Global Cold Chain Packaging Market Analysis, Insights and Forecast, By Product Type, 2017-2028
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast
      •  EPS Containers
      •  PUR Containers
      •  Pallet Shippers
      •  Vacuum Insulated Panels
      •  Others

TOC Continued…!

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Cold Chain Packaging Refrigerants Market Size, Share & COVID-19 Impact Analysis, By Product type (Gel Packs, Foam Bricks, and Others), By Application (Pharmaceuticals, Food, and Industrial) and Regional Forecast, 2020-2027

Cold Chain Packaging Materials Market Size, Share & Industry Analysis, By Source (Natural, Synthetic), By Material (Recycled Non-Woven Textile, Jute, Paper, Cardboard, Expanded Polystyrene (EPS), Polyurethane, Others), By Application (Meal-kits, Pharmaceutical, Personal Care, Meat & Seafood, Others) and Regional Forecast, 2021-2028

Cold Chain Market Size, Share & Industry Analysis, By Technology (Programmable Logic Controller, Vapor Compression, Blast Freezing, Others), By Type (Transport , Refrigerated Storage), By Application (Bakery & Confectionary, Processed Food, Dairy & Frozen Food, Fruits & Vegetables, Meat & Seafood) And Regional Forecast 2021-2028

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