by Cold chain packaging refers to the technologies and solutions that are used to maintain the recommended temperature conditions throughout the supply chain for temperature-sensitive products such as vaccines, biologicals, pharmaceuticals, and food. The products require careful handling in a controlled temperature environment between farm to distribution and points of consumption to prevent spoilage and retain their efficacy.
The global Cold Chain Packaging Market is estimated to be valued at US$ 31.04 Bn in 2024 and is expected to exhibit a CAGR of 8.9% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing demand for temperature-sensitive pharmaceutical products has been a key driving factor for the cold chain packaging market. Pharmaceutical products such as vaccines need to be maintained at certain temperatures throughout their journey from manufacturer to the end-user. Thus, cold chain packaging solutions such as insulated shippers, phase change materials, and refrigerants are gaining significant importance. They help extend the shelf life of pharmaceutical products by ensuring a temperature-controlled environment without fluctuations. Additionally, with the rapid expansion of the pharmaceutical industry worldwide amidst the COVID-19 pandemic, the demand for medical cold chain packaging solutions has witnessed exponential growth over the recent past.
SWOT Analysis
Strength: The demand for cold chain packaging is rising rapidly due to the growing pharmaceuticals and food & beverage industry across the globe. This will drive the growth of the cold chain packaging market.
Weakness: High costs associated with maintaining the cold chain can limit the growth of the market to some extent. Adoption of alternative packaging solutions can also restrain the market growth.
Opportunity: Increasing healthcare spending and demand for vaccines in developing regions offer lucrative growth opportunities. Growing need for perishable food deliveries provides new opportunities.
Threats: Strict government regulations regarding material disposal post usage can hamper market revenues. Volatility in raw material prices is another threat.
Key Takeaways
Global Cold Chain Packaging Market Size is expected to witness high growth. The market size was valued at US$ 31.04 Mn in 2024 and is projected to reach 48.12 Mn by 2031, expanding at a CAGR of 8.9% during the forecast period.
Regional analysis – North America dominated the cold chain packaging market in 2024 and is expected to continue its dominance over the forecast period. This is attributed to robust healthcare infrastructure and high demand for temperature-sensitive drugs & vaccines in the region. The Asia Pacific market is anticipated to exhibit the fastest growth over the forecast period supported by expanding pharmaceutical and food industries in India and China.
Key players analysis – Key players operating in the cold chain packaging market are SHINVA MEDICAL INSTRUMENT CO., LTD., Sonoco Thermosafe, Cryopak, Cold Chain Technologies, Envirotainer AB,va-Q-tec AG, Deutsche Post AG (DHL), FedEx Corp., AmerisourceBergen Corp., and Sofrigam SA Ltd. These players are focusing on new product launches and expansions to consolidate their market presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
