Cold Chain Packaging Market Analysis Report By Product, By Material, By Application, By Region And Segment Forecasts From 2020 To 2027

Synopsis

Regarding the report published, the global cold chain packaging market was prized by USD 15.5 billion in 2019. It is estimated to witness a 19.4% CAGR from 2020 to 2027.

Drivers

The food processing industry, all over the world, is placing rising orders for their wrapping needs. This can be credited to the enlargement of the market for cold chain packaging. Speedy industrial development, altering the standard of living of the citizens, and increasing populace in the emergent nations like Mexico, China, and India, are some of the important factors, impelling the demand for cold chain packaging.

Though the increasing populace is producing requirements for foodstuff products, altering standards of living are encouraging customers to choose easy-to-eat and processed food items. The global huge demand is recorded by the processed food items, for example, meat, seafood, dairy products as well as the frozen vegetables and fruits. These food substances necessitate well-organized wrapping in storage space and transport. The yearly beef order in the U.S. is over 6 billion pounds.

Moreover, using per head consumption of more than 28 liters of ice cream, each year, New Zealand dominated the global consumption of ice cream, in 2019. It was followed by the U.S. via above 20 liters per head consumption, annually. Consequently, such an increasing requirement for the processed food and meat items is inspiring the market for cold chain packaging.

The retail division in industrialized nations, like the U.S., is observing a transformation in consumer manners, since shopping plans go on to change from the usual retail transactions to online shopping. Online grocery shopping is attaining its reputation in proportion to the rising infiltration of the Internet and the consequent growth in the figure of tech-savvy customers.

For example, retailing of the packaged food items are considering adding to Amazon’s online vending for grocery items. Increasing orders for packaged foodstuff is estimated to impel the enlargement of the market.

Material Insight

In 2019, the insulating materials sector held above 65% revenue share of the cold chain packaging market. The insulating material division is additionally segmented into the cryogenic tank, PUR, Vacuum Insulated Panel (VIP), EPS, and others.

The other division comprises hard-cased thermal boxes, insulting pouches, and active thermal systems. In 2019, EPS retained the major share and is expected to preserve its iron grip on the insulating materials market, during the forecast period.

The refrigerant sector comprises hydrocarbons, fluorocarbons, and inorganics (CO₂ and ammonia). Here is a growing stress on the usage of low Global Warming Potential (GWP) gases and low Ozone Depletion Potential (ODP). The utilization of such refrigerant gases facilitates dealing with the social as well as ecological factors that demonstrate as a vital force for the global expansion of the refrigerant market.

Product Insight

In 2019, the insulated container & boxes sector held above 57% revenue share and dominated the cold chain packaging market. This elevated share is due to the increasing insisting on reusable insulated containers through a variety of functions, like vegetables, food processing, and fruits.

The section is furthermore subdivided based on consignment dimension in petite, extra small, small, medium, and large. Based on the product, the market has moreover been segregated into temperature-controlled pallet shippers, cold packs, labels, and crates. The crates division is more separated into purposes like horticulture, pharmaceutical, fisheries, and dairy. The cold pack's section is projected to develop by the maximum, above 21% CAGR, during the forecast period.

The temperature-controlled pallet shipper section is estimated to rise by a greater CAGR percentage, for the duration of the forecast. A range of Expanded Polystyrene (EPS), Low-density Polyethylene (LDPE), and Polyurethane (PUR), pallet shippers exist in the market. Particularly, the temperature-controlled pallet shippers are utilized for the mass consignment of biological specimens as well as the samples, frozen food items, plus vaccines.

Application Insight

In 2019, the fish, meat, and seafood application held, above 25% revenue share and dominated the cold chain packaging market. This greater share is caused by the increasing capacity of meat products, together with chicken and beef. It is, gradually more, being sold to other countries from Brazil and the U.S.

The fruits and vegetable segment is anticipated to enlarge, by a momentous CAGR of over 20%, during the forecast period. Fresh fruits and vegetables require to be properly refrigerated to preserve their freshness, till they arrive at the customer side. Well-organized packaging way out can assists food processing companies, inefficiently running their operations.

The processed food sector is anticipated to exhibit the highest CAGR, throughout the forecast period. The development can be credited to the augmented global ingestion of the processed foodstuff like chocolate bars, canned beans, jams & pickles, and canned meat, plus additional food items.

Pharmaceutical manufacturing moreover impels requirements for cold chain packaging solutions, in which the companies necessitate efficient solutions to stock up and safeguard vaccines, medicines, blood samples, and additional temperature-sensitive medicinal substances.

Regional Insight

Due to the speedy financial development in the developing nations, Asia Pacific is expected to be a rapidly developing region. Developing nations such as China, Singapore, India, and Thailand, are anticipated to stimulate the expansion of the local market for cold chain packaging. Owing to the rising elderly populace, excessive demand for the medication will, furthermore, increase the pharmaceutical demand in the Asia Pacific market.

The continual rolling out of the transport and warehousing system, the speedy industrial development, escalating populace with the growth in demand for the canned as well as processed food items are the various factors, estimated to impel the enlargement of the regional market, in the Asia Pacific.

In 2019, North America held more than 34% global revenue share and led the market. It is expected to sustain its domination, during the forecast period. The elevated market share of the province is caused by the major disintegration in the North American region, due to the attendance of a huge number of key contestants of the industry.

Besides, the citizens are raising their liking for the ingestion of fresh as well as natural foodstuffs like organic eggs, fresh leafy vegetables, and organic milk that need significant wrapping as well as handling actions, at every stage of storage space and transportation, to evade spoilage. Sequentially, this is increasing the expansion of the North American regional market for cold chain packaging.

Companies

Particularly in the North American province, the market is extremely disjointed, amid the existence of many regional companies. These companies are leading the contest using aggressively taking on mergers & acquisitions. These companies are concentrating on increasing their product range, in addition to, increasing the local attendance.

Some of the companies for the cold chain packaging market are:

    • via-Q-tec
    • Sofrigam
    • Pelican Products, Inc.
    • Cryopak A TCP Company
    • Cold Chain Technologies
    • Sonoco ThermoSafe
    • Soft box
    • Intelsius
    • Creopack
    • Cascades Inc.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For this study, Million Insights has segmented the global cold chain packaging market report based on the product, material, application, and region:

• Product Outlook (Revenue, USD Million, 2016 - 2027)
    • Crates
        • Dairy
        • Pharmaceutical
        • Fisheries
        • Horticulture
    • Insulated Container & Boxes
        • Large
        • Medium
        • Small
        • X-Small
        • Petite
    • Cold Packs
    • Labels
    • Temperature Controlled Pallet Shippers

• Material Outlook (Revenue, USD Million, 2016 - 2027)
    • Insulating Material
        • Expanded Polystyrene (EPS)
        • Polyurethane rigid foam (PUR)
        • Vacuum Insulated Panel (VIP)
        • Cryogenic Tanks
        • Others
    • Refrigerants
        • Fluorocarbons
        • Inorganics
            • Ammonia
            • Carbon Dioxide (CO2)
        • Hydrocarbon

• Application Outlook (Revenue, USD Million, 2016 - 2027)
    • Fruits & Vegetables
    • Fruit & Pulp Concentrates
    • Dairy Products
        • Milk
        • Butter
        • Cheese
        • Ice Cream
    • Fish, Meat & Seafood
    • Processed Food
    • Pharmaceuticals
        • Vaccines
        • Blood Banking
    • Bakery & Confectionaries
    • Others

• Regional Outlook (Revenue, USD Million, 2016 - 2027)
    • North America
        • The U.S.
        • Canada
        • Mexico
    • Europe
        • The U.K.
        • Germany
        • France
    • The Asia Pacific
        • China
        • India
        • Japan
    • South America
        • Brazil
    • Middle East
    • Africa