June 24, 2024
Cold Chain Packaging Market

The Global Cold Chain Packaging Market is driven by growing pharmaceutical industry

The cold chain packaging market involves transporting and storing temperature-sensitive products such as pharmaceuticals, food, and chemicals in thermally insulated packaging along the supply chain between manufacturing and end use to extend shelf life. Cold chain packaging ensures safety and quality of products by enabling products to be stored and distributed at recommended temperatures with strict temperature monitoring and control. This has become increasingly important as manufacturing and consumption points have separated geographically requiring international and intercontinental logistics. The global cold chain packaging market plays a vital role in reducing losses due to damage or spoilage and ensures uninterrupted supply of quality products.

The global Cold Chain Packaging Market is estimated to be valued at US$ 31.04 billion  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:
Active and intelligent packaging is gaining increasing traction in the cold chain packaging industry. These types of packages monitor factors like temperature, humidity, shock, gas concentration etc during transit and storage. They are equipped with sensors, tags, and tracking devices that provide real-time data on physical conditions experienced by packages. This allows identifying problems early and taking corrective actions. Big data generated from these packages helps optimize logistics, cold chain infrastructure and ensure highest product quality. Technologies like RFIDs and sensors integrated with IoT and cloud computing are ushering a new era of digitally connected cold chain ecosystem.

Porter’s Analysis
Threat of new entrants: New entrants face high capital requirements to enter this market due to expensive machinery and equipment needed for cold chain packaging.

Bargaining power of buyers: Buyers have moderate bargaining power as they can easily switch to other players offering compatible products at competitive prices.

Bargaining power of suppliers: Suppliers have low to moderate bargaining power as raw materials used in cold chain packaging are widely available.

Threat of new substitutes: Substitutes have low threat as there are limited alternatives that provide the efficiency of cold chain packaging in maintaining the temperature control of perishable goods.

Competitive rivalry: The market rivalry is high owing to the presence of several global players offering a wide range of customized cold chain packaging solutions.

Key Takeaways
The Global Cold Chain Packaging Market Size is expected to witness high growth. The global Cold Chain Packaging Market is estimated to be valued at US$ 31.04 billion  in 2024 and is expected to exhibit a CAGR of 8.9% over the forecast period 2024 to 2031.

Regional analysis comprises Asia Pacific region is expected to witness the fastest growth in the cold chain packaging market during the forecast period owing to increasing demand for temperature-sensitive drugs and vaccines coupled with strengthening healthcare facilities and growing pharmaceutical industry in emerging countries like China and India.

Key players operating in the cold chain packaging market are SHINVA MEDICAL INSTRUMENT CO., LTD; Cryopak A TCP Company; Envirotainer AB; World Courier Group Inc.; DHL International GmbH; va-Q-tec AG; Pelican Biothermal; CSafe Global and Softbox Systems Ltd.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it