Cold Chain Packaging Market Size, Share Global Analysis Report, 2024 – 2032

Industry Insights

[227+ Pages Report] According to Facts and Factors, the global cold chain packaging market size was valued at USD 26.13 billion in 2023 and is predicted to surpass USD 85.33 billion by the end of 2032. The cold chain packaging industry is expected to grow by a CAGR of 14.05% between 2024 and 2032.

Market Overview

Cold chain packaging is a specialized packaging solution that can easily maintain the temperature of the packed item during storage and transportation activities. These products include biologics, vaccines, pharmaceuticals, and other perishable goods which are temperature-sensitive. The cold chain packaging solution preserves the efficacy, safety, and quality of the goods.

Key Insights

• As per the analysis shared by our research analyst, the global cold chain packaging market size is estimated to grow annually at a CAGR of around 14.05% over the forecast period (2024-2032).
• In terms of revenue, the global cold chain packaging market size was valued at around USD 26.13 billion in 2023 and is projected to reach USD 85.33 billion by 2032.
• High demand for temperature-sensitive products is driving the growth of the global cold chain packaging market.
• Based on the applications, the food segment is growing at a high rate and is projected to dominate the global market.
• Based on the materials, the insulating materials segment is projected to swipe the largest market share.
• Based on the product, the reusable segment is expected to dominate the global market.
• Based on the packaging formats, the pallet shipper segment is expected to dominate the global market.
• Based on region, North America is expected to dominate the global market during the forecast period.

Growth Drivers

• High demand for temperature-sensitive products is likely to drive the growth of the global market.

There is a surge in demand for temperature-sensitive items in the market. Also, the globalization of the supply chain has significantly led to the huge requirement for cold chain packaging solutions for transporting temperature-sensitive items across longer distances.

Additionally, there is a larger need to preserve the quality and safety of food products. The rise of e-commerce activities globally is boosting the need for efficient packaging solutions that can maintain the integrity of temperature-sensitive items.

Moreover, the fast expansion of the biotechnology and pharmaceutical sectors is also expected to support the growth trajectory of the industry. There is a growing requirement for drugs and biopharmaceutical compounds that are temperature sensitive, and therefore, cold chain packaging solutions emerge as an ideal option to cater to such growing demand.

Therefore, all these factors are expected to contribute to the growth of the global cold chain packaging market during the forecast period. For instance, DHL Supply Chain, a DHL Group logistics company, said it will invest USD 400 million in February 2022 to diversify its medical device and pharmaceutical distribution network.

Restraints

• Complexity of the supply chain is likely to hamper the growth of the global market.

Cold chain logistics includes a complex distribution network. Therefore, coordinating and managing these supply chains is expected to hamper the growth trajectory of the cold chain packaging industry during the forecast period. Moreover, limited quality infrastructure like transport facilities and storage units are further likely to slow down the growth trajectory of the industry.

Opportunities

• Technological advancements are expected to foster huge growth opportunities in the global market.

The growing technological advancements like real-time monitoring, smart packaging solutions, and easy integration of IOT are expected to widen the scope of the global cold chain packaging market. Moreover, the changing consumer preferences for fresh organic and natural products are also anticipated to pose a huge demand for cold chain packaging solutions in the market.

Governments in several countries are actively supporting smart packaging practices to ensure the safety of food products, which in turn is also expected to support the growth of the industry in the forthcoming years.

For instance, Ranpakholdings Corp successfully took over Recycold Cool Solutions in December 2021. The agreement is expected to strengthen the diversity of Ranpak’s packaging solutions.

Challenges

• High initial investment is a big challenge in the global market.

Establishing a proper cold chain packaging infrastructure involves high investment. However, implementing the packaging solution and maintaining the infrastructure incur additional costs. However, this high investment is a big barrier for many businesses, and therefore, it is expected to be a big challenge in the cold chain packaging industry.

Segmentation Analysis

The global cold chain packaging market can be segmented into applications, materials, products, packaging formats, and regions.

On the basis of applications, the market can be segmented into pharmaceuticals, food, industrial, and others. The food segment accounts for the largest share of the cold chain packaging industry during the forecast period. Food items are perishable and can easily change their chemical formulations when exposed to temperature variations.

Therefore, the cold chain packaging solution becomes vital in the food segment. Cold chain packaging helps people preserve the quality and freshness of items during storage and transportation.

Also, the growing consumer preferences for frozen food products have significantly led to the high requirements for cold chain packaging. Growing e-commerce activities are encouraging online grocery shopping, which further poses a huge demand for cold chain packaging solutions to protect the goods throughout transportation.

On the basis of material, the market can be segmented into hydrocarbons, refrigerants, insulating materials, and others. The insulating materials segment is expected to contribute the highest sales revenue of the global cold chain packaging market. Insulating materials help maintain the required temperature within the packaging, and therefore, it is high in demand, particularly for temperature-sensitive products.

Moreover, these materials are versatile in nature and can be used across different end-user sectors like biotechnology, chemicals, pharmaceuticals, food, and beverages. The ongoing technological advancements in insulating materials are also expected to foster growth opportunities in the segment.

On the basis of product, the market can be segmented into disposable and reusable packaging. The reusable packaging segment is likely to dominate the cold chain packaging industry. Rising awareness among people regarding environmental issues is encouraging them to adopt sustainable practices, which in turn is expected to foster growth in the segment.

Also, environmental regulations and industry standards play a crucial role in the growth rate of the segment. The growing consumer preferences for eco-friendly packaging solutions are also expected to promote the growth of the segment in the forthcoming years.

On the basis of packaging formats, the market can be segmented into pallet shippers, protective packaging, gel packs, foam bricks, insulated containers, phase change cold storage, and others. The pallet shipper is the fastest-growing segment in the global cold chain packaging market during the anticipated period.

Pallet shippers are ideal for transporting temperature-sensitive products in bulk. It helps end users like the biotechnology and pharmaceutical sectors to ship large volumes of materials easily without altering their chemical nature. The pallet shipping solution causes less waste as compared to the single-use options, and it broadly aligns with the sustainability goals. Pallet shippers help end users streamline logistic operations, storage, and handling procedures. Therefore, all these factors are expected to foster growth opportunities in the segment in the forthcoming years.

Report Scope

Regional Analysis

• North America to dominate the global market.

North America accounts for the largest share of the global cold chain packaging market. The primary reason for the fast regional market growth is the surge in demand for temperature-sensitive products. The rapidly flourishing pharmaceutical and healthcare industry in the region is also a major driver of cold chain packaging solutions. Medical products pose a huge requirement to maintain the integrity of temperature-sensitive products like drugs & vaccines during storage and transportation, and therefore, it is expected to widen the scope of the regional market in the forthcoming years.

There is a high demand for cold chain packaging in the perishable food and beverage sector. Growing demand for fresh produce food products like meats, dairy products, and other temperature-sensitive items is expected to propel the growth of the regional market.

Asia Pacific is another major region witnessing high growth of the regional market during the forecast period. The growing urbanization and regional population is contributing heavily to the growth of the market in the region. The growth of e-commerce activities, particularly in countries like India and China, is boosting the demand for cold chain packaging solutions in the region.

However, the growing focus on sustainability practices is also expected to pave the way for huge growth opportunities in the market. For instance, Essentra Packaging partnered with AMD in May 2022 to innovate an advanced packaging tech for the pharmaceutical sector. The company has named this technology as Time Temperature Indicators (TTIs).

Competitive Analysis

The key players in the global cold chain packaging market include:

• Tamai Kasei Co. Ltd.
• Emball’iso
• Va-Q-tec USA Inc.
• Vericool Inc.
• Orora Packaging Solutions
• DGP Intelsius LLC
• Snyder Industries Inc.
• Chill-Pak
• Sofrigam SAS
• Envirotainer AB
• Inmark LLC
• Global Cooling Inc.
• The Illuminate Group
• Nordic Cold Chain Solutions
• Emballages Cre-O-Pack Intl
• Thermal Packaging Solutions Ltd.
• Global Cold Chain Solutions.
• Orora Packaging Solutions
• United Parcel Service of America
• IncSealed Air Corporation
• CoolPac
• Engineered Packaging Inc.
• dba Chill-Pak
• Insulated Products Corporation
• Cold Chain Technologies
• Dokasch Temperature Solutions
• Tempack Packaging Solutions SL

For instance, Cold Chain Technologies successfully took over Packaging Technology Group LLC in March 2022. The major aim of this acquisition is to invest more in sustainable technologies. The acquired company is a major supplier of eco-friendly thermal packaging solutions.

The global cold chain packaging market is segmented as follows:

By Applications Segment Analysis

• Pharmaceuticals
• Food
• Industrial
• Others

By Material Segment Analysis

• Hydrocarbons
• Refrigerants
• Insulating Materials
• Others

By Product Segment Analysis

• Disposable
• Reusable Packaging

By Packaging Formats Segment Analysis

• Pallet Shippers
• Protective Packaging
• Gel Packs
• Foam Bricks
• Insulated Containers
• Phase Change Cold Storage
• Others

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America