Global Cold Chain Packaging Market In-Depth Analysis Of Competitive Landscape Executive Summary Development Factors 2030

 

The Global Cold Chain Packaging Market size was valued at USD 20.08 billion in 2020 and is projected to reach USD 56 billion by 2030 growing with the CAGR of 10.8% during the forecast period 2020 to 2030.

The term "cold chain packing" refers to a method of packaging and delivering goods that maintains a constant temperature from manufacturing to ultimate destination. Although it may appear that cold chain packaging is a difficult undertaking best saved for extremely temperature sensitive items, the fact is that for many types of products, the advantages exceed the expenses. The appropriate cold chain packaging may make temperature regulated shipment simple and less vulnerable. Chemicals, both organic and inorganic in origin, are the fundamental components of many materials. Ceramics, adhesives, metals, composites, polymers, and glasses are all common materials. Chemicals and materials are used in a wide range of end-use sectors, including automotive, power and energy, agriculture, food and drinks, instrumentation, consumer products, aerospace and military, healthcare, and information technology.

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Market Dynamics and Factors:

To reduce the negative impact of chemical manufacture on the environment, chemical firms are progressively embracing sustainable and environmentally friendly procedures. Chemical businesses may now create chemical goods using alternative fuels because to advancements in technology and chemical sciences. They use carbon dioxide from the atmosphere to make fuels, industrial goods, and other chemicals.For some years from now the pharmaceutical, nutrition, and hygiene industries will likely trend upward, while the automobile, construction, and consumer industries will likely trend lower. With a renewed focus on broadening product portfolios, end-user applications have become the major focus for most chemical firms, and they may take advantage of the current crisis to make product portfolio adjustments. Chemical businesses may consider aligning their product strategy with market movements, prioritising demand, and leveraging existing and near-term trends to profit on new sources of demand, such as hygiene goods and services such as antibacterial coatings. The rapid economic expansion in nations like India and China has driven demand for infrastructure and building, which has resulted in an increase in the number of infrastructural development operations. As a result, the chemicals and materials industry has a very favourable environment to expand in.

Market Segmentation:

Product Insights

On the basis of Product, Cold Chain Packaging market can be segmented as ,Pallet Shippers, Insulated Containers, Foam Bricks, Gel Packs, Protective Packaging (Foams Sheets, etc.), Phase Change Cold Storage Products .The market was dominated by the insulated container and boxes category, which accounted for more than half of the market share. This high share is due to the growing need for reusable insulated containers in a variety of industries, including food processing, fruits, and vegetables. The section is further subdivided into big, medium, small, very tiny, and petite payload sizes. The market has also been divided into crates, cold packs, labels, and temperature-controlled pallet shippers based on the product. Crates are further subdivided into uses such as dairy, medicinal, fisheries, and horticulture.The cold packs market is expected to develop at the fastest rate. Over the projection period, the temperature-controlled pallet shipper sector is anticipated to develop at a high compound annual growth rate. Pallet shippers made of low-density polythene (LDPE), polyurethane (PUR), and expanded polystyrene (EPS) are available on the market.

Material Insights

On the basis of material, the Cold Chain Packaging market is segmented Expanded Polystyrene (EPS), Polyurethane rigid foam (PUR), Vacuum Insulated Panel (VIP), Cryogenic Tanks& Other Materials Type. TIn the present market, polymer is the most commonly used material for cold chain production. Polymer barrier resins are extremely beneficial in maintaining freshness and increasing the shelf-lives of food and drinks. Furthermore, they are light-weight, cost-effective, and non-reactive with food, drinks, pharmaceutical, and cosmetic items within, making them in great demand by a wide range of end-use sectors.The insulating materials sector accounted for the lion's share of the cold chain packaging market's sales. The insulating material category is further subdivided into cryogenic tanks, PUR, Vacuum Insulated Panel (VIP), EPS, and others.Other products include hard-cased thermal boxes, insulting pouches, and active thermal systems. EPS has maintained its dominant position and is likely to maintain its iron grip on the insulating materials market over the projection period.The refrigerant industry includes hydrocarbons, fluorocarbons, and organics (CO2 and ammonia).

End Use Insights

On the basis of End use, the Cold Chain Packaging market is divided into Food & Beverages, Fruits & Vegetables, Fruit & Pulp Concentrates, Dairy Products, pharmaceutical sand Bakery & Confectionaries. During the projected period, the fruits and vegetables category is expected to grow. Fresh fruits and vegetables must be properly chilled to maintain their freshness until they reach the client. A well-organized packaging system may help food processing firms conduct their operations more effectively. Throughout the projection period, the processed food industry is expected to have the greatest CAGR. The increase can be attributed to increased global consumption of processed goods such as chocolate bars, canned beans, jams and pickles, canned meat, and other food products.Pharmaceutical manufacturing necessitates the use of cold chain packaging solutions, as firms seek effective ways to store and protect vaccines, medications, blood samples, and other temperature-sensitive medical items.

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Competitive Analysis:

·                       Creopak

·                       Cryopak Industries Inc.

·                       CSafe Global, LLC

·                       DGP Intelsius LLC

·                       Intelsius

·                       Nordic Cold Chain Solutions

·                       Pelican Products, Inc.

·                       Sealed Air Corporation

·                       Sofrigam SAS

·                       Softbox Systems Ltd.

·                       Sonoco ThermoSafe

·                       Tempack

·                       Tempack Packaging Solutions SL.

·                       TemperPack Technologies, Inc.

·                       TOWER Cold Chain Solutions

Geographic Analysis:

On a regional basis, The United States accounted for the biggest proportion of the Cold Chain Packaging companies in North America. The country's speciality chemical industry is being boosted by rapid industrial growth and technical developments in the industrial sector.Asia-Pacific accounted for one-third of total market share, the highest among all regions. This is due to the presence of important emerging economies in this region, such as China, India, and Japan, which accounted for the largest share of the Cold Chain Packaging materials. Paints and coatings, water treatment, personal care products and cosmetics, electronics, agriculture, and other chemicals& materials are largely utilised in the Asia-Pacific area. For foreign investors, these locations provide excellent investment prospects.

In Asia, China is the largest market for speciality chemicals.Value chains are rapidly moving eastward, driven by economic development and commercial possibilities in Asia, posing significant difficulties for the European chemical sector. State-controlled players and rising chemical behemoths are developing in a new, more competitive environment. In order to manage volatility on a playing field where trade flows change direction gradually, fragile economic circumstances must be managed. Understanding these difficulties and, more significantly, developing the best strategic alternatives to succeed in this new competitive climate, are at the top of any chemical executive's priority list. The MEA speciality chemicals market is being driven by the revival of the oil and gas sector, expanding agrochemical consumption in African countries, and increasing building activities for the creation of new industrial facilities, commercial centres, and housing projects.

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