Global Cold Chain Packaging Market Expected to Reach US$ 103.7 Billion in 2033, With Continued Growth Forecasted

The global cold chain packaging market is poised for remarkable growth, with an anticipated valuation of US$ 26.1 billion in 2023, projected to expand at an impressive Compound Annual Growth Rate (CAGR) of 14.8% between 2023 and 2033. According to industry forecasts, the market is expected to reach a substantial value of US$ 103.7 billion by 2033, driven by increasing demand for temperature-controlled packaging and the rising trade of temperature-sensitive products.

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Key Market Insights:

1. Phase Change Cold Storage Products Dominating the Market : Through the end of 2023, phase change cold storage products are expected to represent approximately 55% of all cold chain packaging products globally. This segment experiences high demand, particularly for frozen food exports or imports worldwide.
2. Contribution to Global Packaging Market : The cold chain packaging industry is estimated to hold around 2 to 3% of the global packaging market, which is anticipated to be worth US$ 980 billion in 2023. In 2022, the global market revenue reached US$ 22.8 billion.
3. Significant Absolute Dollar Opportunity : With the surging demand for temperature-controlled packaging and increasing trade of temperature-sensitive products, the global cold chain packaging industry is projected to create an absolute dollar opportunity of US$ 80.9 billion in the next ten years.
4. Technology Adoption Driving Market Expansion : Cold chain packaging manufacturers are implementing cutting-edge technologies to improve safety and temperature monitoring, thereby expanding the target market. The adoption of advanced technology is expected to boost sales and enhance market growth significantly.

Key Growth Factor and Trend:

• Regulatory Compliance and Advanced Technology Adoption : High emphasis on regulatory compliance of food and pharmaceutical products is driving the need for cold chain packaging to ensure integrity. Additionally, the adoption of advanced technology for enhancing safety and temperature monitoring is a key trend driving market growth.

Commenting on the market outlook, a spokesperson for FMI stated, “The global cold chain packaging market presents lucrative opportunities for manufacturers, driven by the increasing demand for temperature-controlled packaging solutions and advancements in technology. As a leading provider of cold chain packaging solutions, we remain committed to delivering innovative and reliable solutions to meet the evolving needs of our customers worldwide.”

Key Takeaways –  

• Insulated containers segment by product type is anticipated to hold more than 1/3rd of the cold chain packaging market share by 2023.
• Reusable packaging formats is projected to exhibit a CAGR of 15.0% between 2023 and 2033.
• The polymer segment by material type is likely to account for around 3/5th of the cold chain packaging industry share in 2033.
• By end user, the food segment is estimated to create an incremental opportunity of US$ 17 billion in the forecast period.
• Germany’s cold chain packaging market is likely to surge 3.6 times its present rate in the assessment period.

Growing Food and Beverages Industry Spurring Growth

Cold chain packaging solutions are widely used in the food and beverages industry as they provide with the proper refrigeration during the transport and distribution of the food and beverages while preserving the quality.

During the height of the COVID-19 pandemic, as other industries witnessed waning demand, the food and beverage industry continued to post gains in many countries. Further, as supply chains relied on e-commerce, demand for efficient storage and packaging grew manifold.

Considering the change in status-quo brought about by the COVID-19 pandemic, it is likely that demand for cold chain packaging will continue to grow through 2020-2030.

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Key Segments – 

Product Type :

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

Material Type :

• Polymer
  • Polyethylene
  • Polypropylene
  • PET
  • EPS
  • Polyurethane
  • Others
• Metal
• Paper

Packaging Formats :

• Reusable Packaging
• Disposable Packaging

End-use :

• Food
  • Meat, Poultry & Seafood
  • Dairy Products
  • Fresh Produce
  • Bakery & Confectionary
• Beverages
  • Alcoholic Beverages
  • Non-Alcoholic Beverages
• Pharmaceutical
• Cosmetics & Personal Care
• Chemical
• Others

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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