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  • Published On : Jul 2022
  • Code : CMI5096
  • Industry : Packaging
  • Pages : 134
  • Formats :

Cold Chain Packaging (CCP) is an important process for the secure distribution of temperature-controlled pharmaceuticals and food products. By following strict temperature-related regulations, Cold Chain Packaging ensures that these products remain at an optimal temperature during transport. It also ensures the security of pharmaceuticals and other chemicals during transport. While COVID-19 is the most recent pandemic, more are expected in the coming years. Several companies are ramping up their cold chain packaging infrastructures. COVID-19 has spurred the need for better cold chain packaging solutions. Companies that provide solutions for this critical process are likely to play an essential role in the success of vaccines throughout the world.

Market Statistics:

The global Cold Chain Packaging market was valued at US$ 22.39 Bn in 2021 and is forecast to reach a value of US$ 48.12 Bn by 2030 at a CAGR of 9.70% between 2022 and 2030.

North America held dominant position in the global Cold Chain Packaging market in 2021, accounting for 38.5% share in terms of volume, followed by Europe and Asia Pacific, respectively.

Figure 1. Global Cold Chain Packaging Market Value Share (%), By Region, 2021

Cold Chain Packaging  | Coherent Market Insights

Recent Developments:

  1. In January 2021, Pelican Bio Thermal announced its latest partnership with Asiana Airlines, which expands the company’s growing global network.
  2. In March 2021, Sonoco Products company collaborated with Unilode Aviation Solutions, one of the market leader in outsourced Unit Load Device (ULD) management and repair services, for the maintenance, repair and handling of Sonoco ThermoSafe’s passive bulk temperature-controlled containers at several key locations. This cooperation will play an important role for the company in enabling the safe and efficient transport of pharmaceuticals and other temperature-sensitive products around the world.

Market Drivers:

Expansion of healthcare and pharmaceutical industry is a prime factor augmenting growth of the cold chain packaging market. According to the IQVIA, in 2020, global sales of biotechnology drug sale products reached USD 284 billion from USD 266 billion in 2019 (source: IQVIA). These high-value pharmaceutical products are generally shipped via the cold chain across the entire distribution network worldwide.

Growing demand for frozen food products is again fostering market growth. The consumption of frozen food is significantly increasing in developed countries, such as the United States, Germany, Canada, and France, among others, which are driving the market for insulated packaging. According to Frozen and Refrigerated Buyer, in 2019, the frozen food sales in the United States were USD 9,384.88 Billion. Ice cream contributed most to the sales of frozen food in the region with USD 1,418.38 Billion, whereas processed chicken/chicken substitute contributed USD 676.29 Billion.

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Cold Chain Packaging Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2021: US$ 22.39 Bn
Historical Data for: 2017 to 2020 Forecast Period: 2022 to 2030
Forecast Period 2022 to 2030 CAGR: 9.70% 2030 Value Projection: US$ 48.12 Bn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Product: Insulated Containers, Refrigerants, Temperature Monitoring
  • By End-User Application: Food, Dairy, Pharmaceutical, Other End-user Applications
Companies covered:

Pelican BioThermal LLC, Sonoco Thermosafe, Cold Chain Technologies Inc., Cryopak, Sofrigam Company, Intelsius (A DGP Company), Coolpac, Softbox Systems Ltd, Clip-Lok SimPak, and Chill-Pak

Growth Drivers:
  • Growth in pharmaceutical and healthcare industry
  • Growing demand for frozen food products
Restraints & Challenges:
  • Strict government regulation regarding packaging material
  • Increasing price of raw material require for developing packaging material

Figure 2. Global Cold Chain Packaging Market Value Share (%), By End User, 2021

Cold Chain Packaging  | Coherent Market Insights

Market Restraints:

Strict government regulation regarding the usage of material with low carbon content is expected to hinder the market growth. For instance, in the United States, the federal regulatory agency is the US Food and Drug Administration (FDA), with other countries managing their own jurisdictions or sharing entities, such as the International Conference on Harmonization of Technical Requirements for Registration of Pharmaceuticals for Human Use wherein all the agencies are required to ensure compliance by companies. Regulation such as ‘21 CFR 205.50’ state the minimum requirements for storage and handling of prescription drugs and for the establishment and maintenance of prescription drug distribution records.

Increasing cost of raw material is expected to restrict the market growth. Polyurethane (PU) and Polystyrene (PS) is the primary raw material used in the built-up of cold chain packaging solutions. According to the Bank of Ayudhya Public Company Limited, in 2019, the global price of polystyrene stood at approximately USD 1,440 per metric ton. One year later, in 2020, it significantly increased to over USD 1,470 per metric ton. Further, in January 2021, polystyrene prices increased by 5%, compared to December 2020, and are still rising.

Market Opportunities:

Increasing adoption of more advanced manufacturing processes and growing innovation in technology are expected to provide significant growth opportunities over the forecast period. Growing penetration of Expanded Polystyrene (EPS) pallet shippers is expected to positively shape market growth in the forecast period.

Growing consumption of meat products including beef and chicken is also projected to bring bright market growth opportunities. According to the TheWorldCounts, the production of meat has doubled in the 30 years from 1988 to 2018 and increased four-fold since the mid-1960s. And production is expected to continue to grow. By 2050, global meat consumption is projected to reach between 460 Billion and a staggering 570 Billion tons. 570 Billion tons would mean a consumption of meat twice as high as in 2008.

Market Trends/Key Takeaways:

Growing trend of consuming fresh and organic food such as organic milk, fresh leafy vegetables, and organic eggs is projected to uplift the market growth over the forecast period. These food products require critical packaging and handling measures at each level of storage and transit to prevent spoilage.

Rapid urbanization and industrialization is also expected to support the market growth. According to the United Nation, in 2018, 55% of the world’s population lives in urban areas, a proportion that is expected to increase to 68% by 2050. Projections show that urbanization, the gradual shift in residence of the human population from rural to urban areas, combined with the overall growth of the world’s population could add another 2.5 billion people to urban areas by 2050, with close to 90% of this increase taking place in Asia and Africa.

Competitive Landscape:

  1. Pelican BioThermal LLC
  2. Sonoco Thermosafe
  3. Cold Chain Technologies Inc.
  4. Cryopak
  5. Sofrigam Company
  6. Intelsius (A DGP Company)
  7. Coolpac
  8. Softbox Systems Ltd
  9. Clip-Lok SimPak
  10. Chill-Pak

The cold chain is a critical part of the delivery process for pharmaceutical and biotech products. These companies are able to ship products both domestically and internationally, which means they need thermal packaging that will withstand any shipping scenario. In addition to commercial distribution, cold chain packaging is critical to clinical trials. Proper packaging ensures the safety of drugs and accurate clinical results. Cold chain packaging is one way to ensure that products stay at their desired temperatures.

Perishable products in cold chains include vaccines, ice cream, and medical supplies. Without the correct temperature, these products will spoil, compromising public health and safety. Many pharmaceutical products require specific temperatures to prevent premature aging. Wine and frozen desserts must be frozen for extended periods of time to avoid bacterial growth. The same is true for perishable meat and poultry. Excess heat can cause bacterial growth and make the products dangerous.

Market Dynamics:

Expanding healthcare and pharmaceutical industry around the globe is driving demand for advanced packaging solution for storing medicines. This is expected to augment the growth of cold chain packaging market. Increasing demand for frozen food products due to changing eating patterns of consumers is again expected to drive the market growth of the market.

On the other hand, strict regulation regarding packaging material coupled with the increasing price of raw material used for developing packaging solution are major factors expected to hinder the market growth.

Key features of the study:

  • This report provides in-depth analysis of the global Cold Chain Packaging market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2022–2030), considering 2021 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global Cold Chain Packaging market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include Pelican BioThermal LLC, Sonoco Thermosafe, Cold Chain Technologies Inc., Cryopak, Sofrigam Company, Intelsius (A DGP Company), Coolpac, Softbox Systems Ltd, Clip-Lok SimPak, and Chill-Pak
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global Cold Chain Packaging market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global Cold Chain Packaging market

Detailed Segmentation:

  • Global Cold Chain Packaging Market, By Product:
    • Insulated Containers
    • Refrigerants
    • Temperature Monitoring
  • Global Cold Chain Packaging Market, By End-User Application:
    • Food
    • Dairy
    • Pharmaceutical
    • Other End-user Applications
  • Global Cold Chain Packaging Market, By Geography:
    • North America
    • Europe
    • Asia-Pacific
    • Rest of the World

Frequently Asked Questions

The global Cold Chain Packaging market size is estimated to be valued at US$ 22.39 Billion in 2021 and is expected to exhibit a CAGR of 9.70% between 2022 and 2030.
Growing healthcare and pharmaceutical industry are fuelling the growth of global the market.
The Food end user segment is the leading component segment in the market.
Strict government regulation and increasing price of raw material used for packaging material are the major factors restraining growth of the market.
Major players operating in the market are Pelican BioThermal LLC, Sonoco Thermosafe, Cold Chain Technologies Inc., Cryopak, Sofrigam Company, Intelsius (A DGP Company), Coolpac, Softbox Systems Ltd, Clip-Lok SimPak, and Chill-Pak

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