Cold Chain Packaging Refrigerants Market Size Analysis
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.
Modern logistics that assure the product’s safety and quality throughout shipment depend heavily on temperature control and monitoring. The major market participants in cold chain packaging are investing in creating innovative and effective solutions that can successfully address the difficulties and complexity involved in cold chain logistics.
Effective hard chain packing may lower accidental losses, maintain product quality, and boost profit margins.
Market Dynamic
CHANGING LIFESTYLE DRIVES THE MARKET
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.
Market 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
-
-
- Ammonia
- Carbon Dioxide (CO2)
- Hydrocarbon
By Application:
- Fruits & Vegetables
- Fruit & Pulp Concentrates
- Dairy Products
- Milk
- Butter
- Cheese
- Ice Cream
- Fish, Meat & Seafood
- Processed Food
- Pharmaceuticals
- 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)
Segment-Wise Analysis
Which product segment of Cold Chain Packaging Refrigerants is projected to dominate the market?
In 2021, the insulated container and boxes sector dominated the market and commanded more than 59.0% of total sales. The increased need for reusable insulated containers in various industries, including food processing, fruits, and vegetables, is to blame for this high share.
Why are the fish, meat, and seafood application segment expected to expand the fastest during the forecast period?
In 2021, the fish, meat, and seafood application dominated the market and brought in more than 27.0% of total revenue. 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.
Region-Wise Analysis
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, the Middle East, and Africa.
- It is predicted that 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.
- Due to the high economic expansion of emerging nations, the Asia Pacific area is predicted to grow at the quickest rate. It is anticipated that emerging economies like India, Singapore, Thailand, and China will help the regional market expand. Due to the aging population, high medication demand would help boost the Asia Pacific pharmaceutical market.
Competition Analysis
Numerous local businesses dominate the market, which is extremely fragmented, particularly in the North American area. These businesses actively pursue mergers and acquisitions to stay ahead of the competition. These businesses prioritize growing their regional footprint and diversifying their product offering.
Some of the key developments that have taken place in the Cold Chain Packaging Refrigerants Market include:
- In Ma 2019, One of the top producers of automated bagging systems, Automated Packaging Systems, Inc. (U.S.), was acquired by Sealed Air. With the purchase, Sealed Air would be able to increase its protective packaging offerings and profit from market cross-selling potential.
- In June 2018, One of the top producers of automated bagging systems, Automated Packaging Systems, Inc. (U.S.), was acquired by Sealed Air. With the purchase, Sealed Air would be able to increase its protective packaging offerings and profit from market cross-selling potential.
A list of some of the key suppliers present in the market are:
- Cascades Inc.
- Cold Chain Technologies
- Creopack
- Cryopak A TCP Company
- Intelsius
- Pelican Products, Inc.
- Softbox
- Sofrigam
- Sonoco ThermoSafe
- VA-Q-tec
Global Cold Chain Packaging Refrigerants Market 2022-2032: Report Coverage and Highlights
- Assessment of the historical and current market size (2017-2021), market projections (2022-2032), and its contribution to the parent market
- Key drivers, restraints, opportunities, and key emerging trends impacting market growth
- Predictions on critical supply, demand, and technological trends and changes in consumer behavior
- Value chain analysis (list of manufacturers, distributors, end-users, average profitability margins, etc.)
- Segment-wise, country-wise, and region-wise market analysis
- Competition mapping, market share analysis, key strategies adopted by top players, and competitive tactical intelligence
- Key product innovations and regulatory framework
- Covid-19 impact on the market and how to navigate
- Strategic market analysis and recommendations on crucial winning strategies
| Research Scope |
Details |
| Forecast period |
2022-2032 |
| Historical data available for |
2017-2021 |
| Market analysis |
USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032 |
| Key regions covered |
North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa |
| Key countries covered |
US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt |
| Key segments covered |
By Product, Material, Application, and Region |
| Customization scope |
Available upon Request |
| Pricing and purchase options |
Available upon Request |
- Report Includes
Market Size Data
- Global market size data, historical (2018 to 2022) and forecast (2023 to 2033), by each segment and region
- Regional level market size data, historical (2018 to 2022) and forecast (2023 to 2033), by each segment and country
- Country level market share data, historical (2018 to 2022) and forecast (2023 to 2033), by each segment
- Market attractiveness analysis based on market share index and CAGR index for each of the segments and regions
- Incremental dollar opportunity generated in the forecast period would be indicated
- Key Takeaways, Recommendations, and key investment pockets for the relevant segments would be highlighted
Market Background
- Macroeconomic factors that impact the market developments
- Market dynamics (Drivers, Restraints, Opportunities) that positively or negatively influence market growth
- Supply Side and Demand Side trends – trends witnessed from buyers and suppliers side
- Production and Consumption Gap Analysis – analysis of gap between production and consumption in any geography to fulfil unmet demand
- Trade analysis and analysis of key supply and demand hubs
- Identification of hotbed opportunities existing in the market
- Porter’s and PEST analysis to understand the business environment of the geography
- Regulatory scenario – Identification of key sector specific and trade regulations, and assessment of whether it helps or hinder market development & growth
Pricing Analysis
- Regional-level product pricing analysis to set and benchmark your current or future product offerings across each product type
- Historical and projected pricing trends of the product which helps in determining the product’s price and/or services beneficial for companies product lifecycle
- Cost teardown analysis and key factors impacting pricing
Value Chain Analysis
- Country-wise list of raw material suppliers
- Raw material price trends and buyers’ sentiment
- Overview of Intelligent Sourcing Technique
- Raw material procurement requirements
- Vendor selection criteria
- Country-wise list of product manufacturers
- Country-wise list of distributors/traders
- Country-wise list of end-users
- End-Users/Customers consumption mapping
- Key End-Users/Customers client list
- Country-wise list of other key channel partners
- Average profitability margins
- Regional value chain dynamics
Competition Analysis
- Market shares and production capacities of key players
- Tier structure analysis of market
- Comprehensive competition dashboard representing the top 10-15 players in the market
- Individual company profiles of top 15 to 20 manufacturers
- Business Overview
- Product Portfolio
- Key Financials
- Recent Developments
- SWOT Analysis
- Strategies
Country Coverage
North America: U.S., Canada
Latin America: Brazil, Mexico, Argentina, Central America, Rest of Latin America
Western Europe: Germany, Italy, France, UK, Spain, Poland, Romania, Rest of Western Europe
Eastern Europe: Russia & Belarus, Balkan Countries, Baltic Countries, Central Asia, Rest of Eastern Europe
Middle East & Africa: KSA, UAE, Turkey, Israel, Northern Africa, South Africa, Rest of Middle East & Africa
East Asia: China, Japan, South Korea
South Asia & Pacific: India, ASEAN, Australia & New Zealand, Rest of South Asia & Pacific
Why Choose CVC Market Research?;
- Specialized market research company
- Impeccable and deep industry expertise
- Wide range of offerings
- Robust research methodology and statistical models with least deviation
- Extensive reports and full-service consulting
- Expert panel sanctioned industry outlook
- Growth dynamics for calculated investments
- Tri-level quality guarantee
- 6 months unlimited post-sales support
- Regular planned and contracted report updates
Frequently Asked Questions
In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 8.2%.
One of the key elements driving cold chain packaging across various applications is the growing population, rising personal discretionary income, and changing consumer lifestyle.
Major global Cold Chain Packaging Refrigerants Market players are Cascades Inc, Cold Chain Technologies, Creopack, Cryopak A TCP Company, Intelsius, Pelican Products, Inc, Softbox, Sofrigam, Sonoco ThermoSafe, and va-Q-tec.
The infrastructure for creating cold chain packaging requires a significant initial investment. The market for cold chain packaging is primarily constrained by high material prices and the scalability of various packaging techniques.
The North American region is expected to account for the largest market revenue share in the Global Cold Chain Packaging Refrigerants market.
