The market is expected to generate an incremental $ opportunity of US$ 1,217.2 Mn between 2022 and 2032
Category: Packaging Published Date : October 2022 ID: CVC-00209 Format: PDF Pages: 300
Cold Chain Packaging Refrigerants Market Size Analysis
According to a research survey conducted by ChemView Consulting, in 2022, the Global Cold Chain Packaging Refrigerants Market was worth US$ 1,385.5 Mn and is expected to grow at a CAGR of 8.2% over the forecast period. The market is expected to hit US$ 3,047.1 Mn by 2032 end.
Modern logistics that assure the product’s safety and quality throughout shipment depend heavily on temperature control and monitoring. The major market participants in cold chain packaging are investing in creating innovative and effective solutions that can successfully address the difficulties and complexity involved in cold chain logistics.
Effective hard chain packing may lower accidental losses, maintain product quality, and boost profit margins.
CHANGING LIFESTYLE DRIVES THE MARKET
The main forces behind increasing demand are population growth, changing lifestyles, and the quickening pace of urbanization in developing nations like China, India, and Mexico. While the growing population is driving up demand for food goods, people are increasingly choosing processed and convenient food 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 well for storage and transportation.
Market Segments Covered in Report
By Region and Country:
Which product segment of Cold Chain Packaging Refrigerants is projected to dominate the market?
In 2021, the insulated container and boxes sector dominated the market and commanded more than 59.0% of total sales. The increased need for reusable insulated containers in various industries, including food processing, fruits, and vegetables, is to blame for this high share.
Why are the fish, meat, and seafood application segment expected to expand the fastest during the forecast period?
In 2021, the fish, meat, and seafood application dominated the market and brought in more than 27.0% 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 normal, ongoing, and irreversible bio-physiochemical changes.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, the Middle East, and Africa.
Numerous local businesses dominate the market, which is extremely fragmented, particularly in the North American area. These businesses actively pursue mergers and acquisitions to stay ahead of the competition. These businesses prioritize growing their regional footprint and diversifying their product offering.
Some of the key developments that have taken place in the Cold Chain Packaging Refrigerants Market include:
A list of some of the key suppliers present in the market are:
Global Cold Chain Packaging Refrigerants Market 2022-2032: Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|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, Material, Application, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|