According to a research survey conducted by ChemView Consulting, in 2022, the Global Cold Chain Packaging Refrigerants Market was worth US$ 1,385.5 Mn and is expected to grow at a CAGR of 8.2% over the forecast period. The market is expected to hit US$ 3,047.1 Mn by 2032 end.
The expansion of the Cold Chain Packaging Refrigerants Market can be ascribed to the worldwide food processing industry’s growing demand for packaging solutions. The main forces behind increasing demand are population growth, changing lifestyles, and the quickening pace of urbanization in developing nations like China, India, and Mexico.
While the growing population is driving up demand for food goods, people are increasingly choosing processed and convenient food options due to changing lifestyles. Worldwide, there is a significant demand for processed foods such as frozen fruits and vegetables, dairy products, fish, and meat. Such foods need to be packaged well for storage and transportation.
ChemView Consulting has analyzed that the main forces behind increasing demand are population growth, changing lifestyles, and the quickening pace of urbanization in developing nations like China, India, and Mexico. While the growing population is driving up demand for food goods, people are increasingly choosing processed and convenient food options due to changing lifestyles.
Interleukins, antibodies, and vaccinations are biological medications that differ from traditional small-molecule formulations. Additionally, there is occasionally a chance that the packing materials might interfere with the medicine. Due to this, new materials are now primarily required to preserve the most recent biological medication formulations. Therefore, those that offer packaging solutions are searching for cutting-edge methods to lessen the undesirable delamination effect.
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Segments Covered in Report
By Product:
- Crates
- Dairy
- Pharmaceutical
- Fisheries
- Horticulture
- Insulated Container & Boxes
- Large
- Medium
- Small
- X-Small
- Petite
- Cold Packs
- Labels
- Temperature Controlled Pallet Shippers
By Material:
- Insulating Material
- Expanded Polystyrene (EPS)
- Polyurethane rigid foam (PUR)
- Vacuum Insulated Panel (VIP)
- Cryogenic Tanks
- Others
- Refrigerants
- Fluorocarbons
- Inorganics
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- Ammonia
- Carbon Dioxide (CO2)
- Hydrocarbon
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By Application:
- Fruits & Vegetables
- Fruit & Pulp Concentrates
- Dairy Products
- Milk
- Butter
- Cheese
- Ice Cream
- Fish, Meat & Seafood
- Processed Food
- Pharmaceuticals
- Vaccines
- Blood Banking
- Bakery & Confectionaries
- Others
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
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Key Takeaways from the Cold Chain Packaging Refrigerants Market
- Based on the product, the insulated container and box sector dominated the market and commanded more than 59.0% of total sales in 2021. The increased need for reusable insulated containers in various industries, including food processing, fruits, and vegetables, is to blame for this high share.
- The fish, meat, and seafood application dominated the market and brought in more than 27.0% of total revenue in 2021. This high percentage can be attributed to increased beef and poultry shipped from the United States and Brazil. Meat products must be frozen throughout transit and storage because they are susceptible to normal, ongoing, and irreversible bio-physiochemical changes.
- Based on region, North America will continue to lead the market and account for over 35.0% of global revenue throughout the forecast period. Because there are so many big industrial players in the region, there is tremendous market fragmentation, which accounts for the high market share of the area. Additionally, more people consume fresh and organic foods, including fresh green vegetables, organic milk, and organic eggs. It necessitates crucial packaging and handling precautions at each storage stage and transportation to prevent rotting. In turn, this is accelerating the expansion of the local market.
Competition Summary
Key companies covered in the market study are Cascades Inc, Cold Chain Technologies, Creopack, Cryopak A TCP Company, Intelsius, Pelican Products, Inc, Softbox, Sofrigam, Sonoco ThermoSafe, and va-Q-tec.
Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
About ChemView Consulting
ChemView Consulting is a leading information, market intelligence, and business consulting firm serving clients worldwide in Chemical & Materials, Food & Beverage, Oil & Gas, Clean Energy & Power, and Packaging domains. In their business transformation journey, we have been collaborating with global enterprises, including 70% of the largest Forbes 1000 enterprises, helping them deliver on their business ambitions. ChemView Consulting serves clients in approximately 100 countries, with its office in New York, U.S., and Pune, India.
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