Cold Chain Packaging Refrigerants Market

Cold Chain Packaging Refrigerants Analysis and Opportunity Assessment Market by Product, Material, Application, Region, & Country – Forecast 2022 – 2032

The market is expected to generate an incremental $ opportunity of US$ 1,217.2 Mn between 2022 and 2032

Category: Packaging Published Date : October 2022 ID: CVC-00209 Format: PDF Pages: 300

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.

Cold Chain Packaging Refrigerants Market

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
    • Fluorocarbons
    • Inorganics
      • 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
    • 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)

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 ScopeDetails
Forecast period2022-2032
Historical data available for2017-2021
Market analysisUSD Million for Value and Tons for Volume, and CAGR from 2022 to 2032
Key regions coveredNorth America, Latin America, Europe, Asia-Pacific, Middle East, and Africa
Key countries coveredUS, 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 coveredBy Product, Material, Application, and Region
Customization scopeAvailable upon Request
Pricing and purchase optionsAvailable upon Request