Cold Chain Packaging Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Cold Chain Packaging Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Cold Chain Packaging Market

The Cold Chain Packaging market size was valued at USD 7.74 billion in 2023, and the market is now projected to grow from USD 8.19 billion in 2024 to USD 13.17 billion by 2032, exhibiting a CAGR of 7.0% during the forecast period of 2024-2032.

Numerous nations, comprising of India, China, Germany, and the U.S., forced travel confinements, compelling the development of both men and merchandise, coming about in disturbance of the supply chain of cold chain bundling materials producers. Besides, the income era of a few businesses has been altogether bothered by COVID-19. Also, the widespread had a noteworthy effect on the logistics of the dairy industry, which is one of the key applications for cold chain bundling. The retail confinements and shutdown of hypermarkets & general stores were the few variables that driven to the decay in request for nourishment items from retailers. This diminishment in request brought about within the decrease of bundling, in this manner affecting the cold chain packaging market growth altogether.

Cold chain bundling plays a vital part in securing the quality of the nourishment that's being transported to long separations. The bundling is received in a few nourishment logistics to reduce nourishment wastage and secure the quality. Other than, the active way of life of buyers, where they wish to induce the nourishment conveyed at domestic without going out and the rise in slant of a sound way of life has driven to high demand for new and bundled nourishment. This can be expected to drive the request for cold capacity equipment and bundling arrangements. In addition, the surging request for handled & solidified poultry items in numerous regions has fueled the market development.

The cold chain packaging arrangements such as vacuum protects boards, holders, cartons, and boxes are utilized to store temperature-sensitive items within the pharmaceutical industry. These items incorporate immunizations, infusions, reagents, hormones, cellular treatments, and medications for incessant or uncommon maladies. Moreover, a particular EPS-based packaging is utilized to transplant the kidney or pancreas because it requires a jar filled with protecting fluid at the side the required temperature. In this way, the rise within the number of illnesses such as kidney stones and pancreas disappointment among the populace that leads to surgeries are coming about within the high selection of progressed fabric in cold chain packaging.

Comprehensive Analysis of Cold Chain Packaging Market

The material for packaging of cold chain is bifurcated as paper and paperboard, expanded polystyrene (EPS) and polyurethane (PUR). The paper and paperboard denoted as the highest applicant. The applications of the gold chain packaging are segregated as industrial, food and pharmaceutical. With the high volume of food transportation, the applications in food sector are termed of the highest value.

The cold chain packaging market share in the continent of Europe stood at a highest value of USD 2.47 billion in the projected period. The region held the biggest position within the showcase in 2020 and is assessed to hold the driving position amid the projected timeline. The development of the region can be contributed to the radically changing temperature profile from nation to nation, observing a high demand for progressed bundling materials and temperature observing arrangements. Developing nations in Europe give considerable development openings due to financial advancement and extension exercises.

The competitive scenario of the market is divided with a wholesome of prominent players such as: Drew Foam (U.S.), Vericool (U.S.), Plymouth Foam (U.S.), Huntsman Corporation (U.S.), Sonoco Thermosafe (U.S.), Cascades Inc. (U.S.), TemperPack (U.S.), Armstrong Brands Inc. (U.S.), Dow Chemical Company (U.S.), International Paper Company (U.S.), Cascades Inc. (Canada) and many more. Key players have embraced organization and procurement procedures to develop their advertise nearness. Major companies have joined forces with territorial cold chain bundling companies to boost their nearness. Moreover, driving companies have presented economical and customized arrangements to grow their item portfolio.

In between the month of March 2021, the International Paper Company obtained two state-of-the-art folded box plants in Spain, developing its capabilities in Catalonia and Madrid. Folded bundling is an imperative commerce section for International Paper in EMEA, advertising bundling arrangements within the new natural product and vegetable, mechanical and e-commerce fragments. The two businesses will end up portion of International Paper.

Segmentation Table

ATTRIBUTE DETAILS

Study Period2017-2028

Base Year2020

Estimated Year 2021

Forecast Period2021-2028

Historical Period2017-2019

UnitValue (USD Billion)

SegmentationBy Material, By Application, and By Geography

By MaterialExpanded Polystyrene

Polyurethane

Paper and Paperboard

Others

By ApplicationFood

Pharmaceutical

Industrial

By GeographyNorth America (By Material, By Application)

U.S.

Canada

Europe (By Material, By Application)

Germany

France

U.K.

Rest of Europe

Asia Pacific (By Material, By Application)

China

Japan

India

Rest of Asia Pacific

Latin America (By Material, By Application)

Brazil

Mexico

Rest of Latin America

Middle East & Africa (By Material, By Application)

South Africa

Rest of the Middle East & Africa


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