The ‘Global Cold Chain Packaging Market Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global cold chain packaging market, assessing the market on the basis of its segments like product, end use, and major regions.
Cold Chain Packaging Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
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The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 13.8%
|Growth Rate CAGR||13.8%|
|Major Players||Include Sonoco ThermoSafe, Cold Chain Technologies, Cryopak, CoolPac, and Nordic|
ColdChain Solutions, among others
Cold chain packaging systems aim at providing required temperatures to sensitive products with the help of active, passive, or hybrid thermal systems. With no room for error in the modern cold chain, there is great requirement for systems that are responsive, agile, and sustainable. Temperature excursion is the biggest threat to controlled room temperature and pharmaceutical products, emphasising the importance of cold chain.
Players in the cold chain packaging market offer premium and reusable product lines for cold chain packaging which offer features such as compact design and robust performance, along with hibernation capability. The hibernation capability implies planned or unplanned shipment delays can be accommodated for without compromising product safety, provided there is a suitable storage environment.
Compact packaging solutions translate into increased freight efficiency leading to reduced environmental impact during transit, an important factor driving the cold chain packaging market towards growth. Purchase or economical trip lease options positively aid the global market for cold chain packaging as they offer hours of extreme temperature protection for transport of CRT or refrigerated vaccines.
The option of trip lease makes bulk shipping easy, providing a fully conditioned system while ensuring lighter system weight, readiness to load and ship, and reverse logistics and refurbishment support. During the pandemic, the demand for cold chain packaging ramped up due to the surging demand for worldwide distribution of COVID-19 vaccinations.
Cold Chain Packaging Industry Definition and Major Segments
Cold chain packaging refers to solutions or systems that facilitate the shipping of products which need to be maintained at a particular optimum temperature in order to maintain their quality and efficiency. The solutions can encompass insulated packaging systems, temperature indicators, thermal box liners, and more. Cold chain packaging is of paramount importance to companies dealing in pharmaceuticals, food and beverages, and medical devices.
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On the basis of product, the market is segmented into:
• Insulated Containers
• Temperature Monitoring Devices
The market is divided into the following, based on end use:
• Food and Beverage
The major regions covered in the report include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Cold Chain Packaging Market Trends
Cold chain packaging companies championing sustainable solutions are expected to gain rapid momentum in the global cold chain packaging market. Sustainable solutions facilitate reduction of landfill wastes by millions of cubic feet and reduce overall carbon footprint. Reusable and single use parcel shippers have been developed for the life science market with excellent thermal engineering capabilities and digital track and trace solutions as well as geographic breadth.
In the coming years, investments to boost innovation in critical sustainable technologies for delivering worldwide will be key to success in the global cold chain packaging market. Stakeholders are strategically incorporating compostable and eco-friendly packaging, as a replacement to materials such as polystyrene (EPS) for cold chains to be used in grocery and pharmaceuticals markets. Several innovative packaging solutions and systems are being developed to meet the growing demand for environmentally conscious packaging in the market.
The growing pharmaceutical industry is expected to consistently favour the growth of the global cold chain packaging market. Cold chain packaging is crucial to pharmaceutical and biotechnology companies that require thermal packaging to ship products domestically and internationally. In addition, clinical trials and scientific research are an important and indispensable part of the pharmaceutical market. Ensuring drugs and vaccines are properly packaged and delivered are imperative to obtain reliable and accurate clinical results. Transportation of body tissues and organs also drives the demand for effective and affordable cold chain packaging.
Key Market Players
The major players in the Cold Chain Packaging Market report are:
• Sonoco ThermoSafe
• Cold Chain Technologies
• Nordic Cold Chain Solutions
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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