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Cold Chain Packaging Market to Touch USD 47.46 Billion by 2029; Development of Advanced Products and Services to Bolster Industry Growth

June 21, 2022 | Chemicals & Materials

The global cold chain packaging market size is expected to exhibit strong growth by reaching USD 47.46 billion by 2029. Fortune Business Insights™ in its report titled “Cold Chain Packaging Market Size, Share & COVID-19 Impact Analysis, By Product Type (EPS Containers, PUR Containers, Pallet Shippers, Vacuum Insulated Panels, and Others), By Application (Pharmaceuticals, Food, and Industrial), and Regional Forecast, 2022-2029” observes that the market size in 2021 stood at USD 20.89 billion and reached USD 22.97 billion by 2022. The market exhibited a CAGR of 10.9% during the forecast period. The development of products and services and the adoption of recyclable materials may elevate market progress.


Ranpack Expanded its Cold Chain Offerings with the Acquisition of Recycold Cool Solutions BV


Ranpack expanded its cold chain offerings by acquiring Recycold Cool Solutions BV in December 2021. The companies merged to offer sustainable packaging solutions for the cold chain industry. This strategy may enable the company to enhance its product portfolio.


Restrictions on Trade to Impede Market Progress


This market was negatively affected during the COVID-19 pandemic due to trade restrictions. The sudden spike in COVID-19 patients led to the closure of manufacturing activities, thereby hindering the supply chain. Furthermore, transport restrictions resulted in raw material shortages. However, companies adopt automated production techniques, advanced sanitization methods, and reduced capacities to enhance sales. These factors may drive the industry’s progress.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/cold-chain-packaging-market-102829


Strong Demand from the Pharmaceutical Industry to Foster Industry Progress


Cold chain packaging involves the packaging and shipping of products requiring specific temperatures. Strong demand for the product from the pharmaceutical industry may enhance adoption. The packaging method is used to transport medicines, vaccines, injections, and other items requiring certain temperatures. As per the information provided by the Pharmaceutical Commerce Analysis of IQVIA, 2018, cold chain packaging accounts for 18% of total investments in pharmaceutical products. In addition, increasing pharmaceutical product trade may enhance packaging technique adoption. These factors may boost the cold chain packaging market growth.


Prominent Players Employ Acquisitions to Elevate Brand Image


Prominent companies operating in the market adopt acquisitions to boost their brand image. For example, CSafe Global acquired Softbox Systems in 2021. This strategy was undertaken to dominate the industry as a supplier of cold packaging solutions to pharmaceuticals. Both companies shall offer one-stop solutions for temperature-sensitive products. Further, players adopt partnerships, mergers, product launches, and acquisitions to dominate their market position globally.


Key Industry Development



  • January 2022: Packaging Technology Group Inc. launched an extended sustainable and durable recyclable thermal shipper. The shipper has been developed for life science and high-end pharmaceutical applications.


List of Key Players Profiled in the Report



  • Cold Chain Technologies (U.S.)

  • Peli BioThermal (U.S.)

  • Orora Group (Australia)

  • Sonoco ThermoSafe (U.S.)

  • CREOPACK (Canada)

  • Sofrigam (France)

  • Intelsius (U.K.)

  • Nordic Cold Chain Solutions (U.S.)

  • Tempack (Spain)

  • Cryopak (U.S.)

  • Softbox Systems (U.K.)

  • Sealed Air Corporation (U.S.)


Further Report Findings



  • The market in Europe stood at USD 6.94 billion in 2021 and is expected to gain a huge portion of the global cold chain packaging market share. Changing temperature profiles in the region is likely to enhance the packaging technique’s adoption.

  • Further, the deployment of advanced packaging solutions may enhance the packaging adoption. These factors may influence industry growth.

  • In Asia Pacific, rapid cold storage project deployments, rising population, and rising spending capacities may bolster product demand.


 Report Scope & Segmentation


















































   ATTRIBUTE



  DETAILS



Study Period



2018-2029



Base Year



2021



Estimated Year



2022



Forecast Period



2022-2029



Historical Period



2018-2020



Unit



Value (USD Billion)



Segmentation



By Product Type, Application, and Geography



By Product Type




  • EPS Containers

  • PUR Containers

  • Pallet Shippers

  • Vacuum Insulated Panels

  • Others



By Application




  • Pharmaceuticals

  • Food

  • Industrial



By Geography




  • North America (By Product Type, By Application, By Country)

    • U.S. (By Application)

    • Canada (By Application)



  • Europe (By Product Type, By Application, By Country)

    • Germany (By Application)

    • U.K. (By Application)

    • France (By Application)

    • Scandinavia (By Application)

    • Rest of Europe (By Application)



  • Asia Pacific (By Product Type, By Application, By Country)

    • China (By Application)

    • India (By Application)

    • Japan (By Application)

    • ASEAN (By Application)

    • India (By Application)

    • Rest of Asia Pacific (By Application)



  • Latin America (By Product Type, By Application, By Country)

    • Brazil (By Application)

    • Mexico (By Application)

    • Rest of Latin America (By Application)



  • The Middle East & Africa (By Product Type, By Application, By Country)

    • Middle East (By Application)

    • Africa (By Application)




Global Cold Chain Packaging Market
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  • 2021
  • 2018-2020
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