The market is expected to generate an incremental $ opportunity of US$ 45.7 Bn between 2022 and 2030
Category: Packaging Published Date : October 2022 ID: CVC-00208 Format: PDF Pages: 325
Cold Chain Packaging Market Size Analysis
According to a research survey conducted by ChemView Consulting, in 2022, the Global Cold Chain Packaging Market was worth US$ 22.9 Bn and is expected to grow at a CAGR of 14.7% over the forecast period. The market is expected to hit US$ 68.6 Bn by 2030 end.
The healthcare packaging industry has a huge demand for cold chain packaging. Applications for cold chain packaging include clinical trials, vaccinations, and the supply and logistics of biopharmaceuticals. The rise in sales of pharmaceutical items requiring cold chain logistics is to blame for the significant increase in the market for cold chain packaging.
THE INCREASING DEMAND FOR HEAT-SENSITIVE PHARMACEUTICAL INDUSTRY FUELS THE MARKET
Packaging for cold chains has become a need due to complex supply channels. The distribution of medicines, chemicals, and food products has increased the requirement for dependable cold chain packaging solutions. The requirement for cold chain packaging to maintain the integrity of the items is also driven by the need for regulatory compliance for food and pharmaceutical products.
For the pharmaceutical and biotech industries, cold chain packaging is quite helpful in maintaining the quality of the products. It has successfully minimized losses and ensured the best possible freshness for the food and beverage industries. Due to the increasing need for cold chain packaging solutions in the pharmaceutical business, particularly for the distribution of vaccines and the development of antibiotics, the market is expected to grow after the pandemic.
HIGH RAW MATERIAL COSTS HAMPER THE MARKET GROWTH
The infrastructure for creating cold chain packaging requires a significant initial investment. The market for cold chain packaging is primarily constrained by high material prices and the scalability of various packaging techniques.
By Product Type :
By Material Type :
By Packaging Formats :
By End-use :
By Region and Country:
Which product type Cold Chain Packaging, plays an important role in the market growth?
Insulated containers are crucial for controlling the temperature of food goods during transport and storage and extending their shelf lives. As a result, increased demand for insulated containers is being driven by expansion in the market for frozen foods and fruits.
Why is the meat, poultry & seafood segment expected to expand to dominate the market during the forecast period?
In 2021, the Meat, Poultry & Seafood application dominated the market and brought in more than 30.0% of total revenue. This high percentage can be attributed to increased beef and poultry shipped from the United States and Brazil. Meat products must be frozen throughout transit and storage because they are susceptible to natural, ongoing, and irreversible bio-physiochemical changes.
Which region is expected to expand the fastest during the forecast period?
It is predicted that North America will continue to lead the market and account for over 35.0% of global revenue throughout the forecast period. 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 consume fresh and organic foods, including fresh green vegetables, organic milk, and organic eggs. It necessitates crucial packaging and handling precautions at each storage stage and transportation to prevent rotting. In turn, this is accelerating the expansion of the local market.
Strategic partnerships with technology partners focus on cold chain packaging industry players. The market for cold chain packaging is anticipated to gain from significant investments in technology like cloud computing and IoT solutions in several ways. These enhancements offer control, visibility, and responsibility for cold chain packaging solutions.
Some of the key developments that have taken place in the Cold Chain Packaging Market include:
A list of some of the key suppliers present in the market are:
Global Cold Chain Packaging Market 2022-2030: Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Billion for Value and Tons for Volume, and CAGR from 2022 to 2030|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Product Type, Material Type, Packaging Format, End-Use, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|