Cold Chain Packaging Global Market Report 2024

Cold chain packaging refers to a specialized packaging system designed to maintain the temperature of sensitive payloads, ensuring they are kept within specific temperature ranges such as cold, warm, frozen, and others.

The primary products within the realm of cold chain packaging include crates, insulated containers and boxes, cold packs, labels, and temperature-controlled pallet shippers. Crates, which can be constructed from wood, plastic, or metal, serve as large boxes used for storing or transporting items requiring temperature control. Various materials are employed in cold packaging, including expanded polystyrene (EPS), vacuum insulated panel (VIP) solutions, and polyurethane (PUR). The applications of cold chain packaging span across various industries, including fruits and vegetables, fruit and pulp concentrates, dairy products, fish, meat and seafood, processed food, pharmaceuticals, and bakery and confectioneries.

The cold chain packaging market research report is one of a series of new reports that provides cold chain packaging market statistics, including cold chain packaging industry global market size, regional shares, competitors with an cold chain packaging market share, detailed cold chain packaging market segments, market trends and opportunities, and any further data you may need to thrive in the cold chain packaging industry. This cold chain packaging market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The cold chain packaging market size has grown rapidly in recent years. It will grow from $28.02 billion in 2023 to $31.92 billion in 2024 at a compound annual growth rate (CAGR) of 13.9%. The growth observed in the historical period can be attributed to several factors, including the expansion of the global pharmaceutical and healthcare industries, an increased demand for temperature-sensitive biologics and vaccines, a heightened focus on food safety and quality assurance, a rise in the global trade of frozen and chilled foods, and growth in the biotechnology and life sciences sector.

The cold chain packaging market size is expected to see rapid growth in the next few years. It will grow to $54.99 billion in 2028 at a compound annual growth rate (CAGR) of 14.6%. The growth in the forecast period can be attributed to expansion of e-commerce and online grocery delivery services, adoption of cold chain technologies in emerging markets, increasing importance of last-mile delivery in cold chain, market growth in the cell and gene therapy sector, demand for sustainable and eco-friendly packaging solutions. Major trends in the forecast period include innovations in insulation and thermal barrier materials, active and passive temperature-controlled packaging, integration of iot and sensor technologies, single-use and eco-friendly packaging solutions, pharmaceutical packaging with serialization and traceability.

Rapid urbanization is anticipated to be a driving force behind the growth of the cold chain packaging market in the forecast period. The ongoing trend of urbanization has resulted in increased urban development, with cities and urban areas requiring greater resources to accommodate growing populations and their demands. The rise in population, coupled with changing lifestyles, has led to increased demand for processed and convenient food items. Products like frozen fruits and vegetables, dairy, seafood, and meat are in high demand globally, necessitating efficient packaging solutions during transportation and storage - cold chain packaging plays a crucial role in maintaining the quality and freshness of such perishable items. The global urban population, which stood at approximately 4.46 billion in 2021, is projected to reach 6.68 billion by 2050. Consequently, the swift pace of urbanization is expected to drive the growth of the cold chain packaging market.

The issue of increasing food waste and spoilage is also anticipated to contribute to the growth of the cold chain packaging market. Food waste and spoilage refer to the loss of food products due to various factors, including deterioration, waste, and spoilage. Cold chain packaging helps mitigate these challenges by preserving the quality and freshness of food products through the maintenance of optimal temperatures during transportation and storage. As of September 2022, approximately 14% of the food produced globally, amounting to $400 billion annually, is lost after harvest but before reaching stores. An additional 17% is lost to waste in the retail and consumer sectors. This totals to an amount of food that could feed 1.26 billion people each year. The focus on reducing food waste and spoilage is therefore driving the adoption of cold chain packaging solutions.

A notable trend in the cold chain packaging market is the increasing emphasis on sustainable packaging practices. Companies are investing in CO2-efficient transport methods, but inefficiencies in cooling methods still contribute to around 20% of losses. To address this, major players in the cold chain packaging industry are investing in reusable, multi-use, materials-based temperature-controlled packaging solutions. Sustainable packaging solutions not only offer long-term cost benefits due to reusability but also align with environmental goals, reducing CO2 emissions. As governments worldwide implement regulations to curb carbon emissions, the adoption of sustainable cold chain packaging solutions becomes increasingly important. In January 2022, Packaging Technology Group (PTG) introduced an extended-duration, curbside recyclable thermal shipper that maintains temperatures between 2-8 °C for 72 hours, showcasing the industry's commitment to sustainable practices.

In March 2022, Cold Chain Technologies LLC, a U.S.-based packaging company, successfully acquired Packaging Technology Group, LLC, marking a strategic move into environmentally sustainable packaging, including cold chain solutions. The financial details of the acquisition were not disclosed. The acquisition is anticipated to enhance Cold Chain Technologies' existing portfolio, enabling the company to offer a more comprehensive range of innovative solutions to its customers worldwide. Packaging Technology Group LLC, founded in 2005, is a U.S.-based company specializing in the design and manufacturing of sustainable packaging specifically tailored for the biopharmaceutical and life sciences industry.

Major companies operating in the cold chain packaging market include Cold Chain Technologies Inc., Cryopak Industries Inc., Sofrigam Company, CCL Industries Inc., Sealed Air Corporation, Pelican BioThermal LLC, Sonoco Thermosafe, Intelsius a DGP Company, Softbox Systems Ltd., Envirotainer AB, Inmark Packaging, Tempack Packaging Solutions S.L., ACH Foam Technologies LLC, American Aerogel Corporation, Cold Ice Inc., Davis Core & Pad Co., DuPont de Nemours Inc., Exeltainer S.L., Insulated Products Corporation, Laminar Medica Limited, NanoCool LLC, Polar Tech Industries Inc., Protek Cargo, Royal Golden Eagle Group, Saeplast Americas Inc., SkyCell AG, Snyder Industries Inc., TKT GmbH, World Courier, va-Q-tec AG

Western Europe was the largest region in the cold chain packaging market in 2023. The regions covered in the cold chain packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa2

The countries covered in the cold chain packaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

The cold chain packaging market consists of revenues earned by entities by providing packaging services such as active, passive and hybrid packaging services. The market value includes the value of related goods sold by the service provider or included within the service offering. The cold chain packaging market also includes sales of vacuum insulated panels which are used in providing packaging services. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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