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PACKAGING

Cold Chain Packaging Materials Market Analysis by Product (Crates, Insulted Containers & Boxes, Cold Packs, Labels, and Others); by Material (Paper & Paperboard, Refrigerants, Polyurethane, Expanded Polystyrene, and Others); and by Application (Fruits & Vegetables, Meat & Seafood, Dairy Product, Bakery, Pharmaceuticals, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • Mondi plc to build strategic collaboration with Heiber + Schroder. The collaboration between these companies is placed to launch eComPack, a high-performance machine, for automated packaging. The machine is developed to provide work efficiency with mid to large-size eCommerce operations.
  • Amcor plc’s Amcor Rigid Packaging (APR) unit to unveil a new line of packaging, DairySeal, featuring ClearCor. The DairySeal Line has been developed and launched for the ready-to-drink and other dairy alternatives to receive more sustainable packaging.

Global Cold Chain Packaging Materials Market Size, Forecast, and Trend Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~7%

Base Year Market Size (2022)

~USD 7 Billion

Forecast Year Market Size (2033)

~USD 14 Billion

The global cold chain packaging materials market is estimated to garner a revenue of ~USD 14 million by the end of 2033 by growing at a CAGR of ~7% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 7 million in the year 2022. The growth of the market can primarily be ascribed to the growing consumption of meat across the globe. For instance, in 2021, about 300 million metric tons of meat were consumed worldwide.

Cold-Chain-Packaging-Materials-Market-Analysis

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Global cold chain packaging materials market trends such as, rising consumption of seafood and remarkable surge in disposable income are projected to influence the growth of the market positively over the forecast period. For instance, in 2021, the sales of fresh shrimp were estimated to rise by approximately 10% in the USA. Additionally, the spiking utilization of cold chain packaging in bakeries and growing population across the globe are further expected to flourish the growth of the market during the forecast period. It was observed that around USD 25 billion are generated by the baking industry every year.

Global Cold Chain Packaging Materials Market: Growth Drivers and Challenges

Growth Drivers

  • Growing Demand for Fresh Vegetables

As of 2022, the export volume of fresh and processed vegetables from India was estimated to be approximately USD 800 million and USD 400 million respectively.

Fresh vegetables are consumed by the global population at a high scale since it consists of low calories and countless health properties. Vegetables are mixed in various types of cuisines and dishes to improve their appearance and quality. it has been found that consuming a rich diet of fruits and vegetable reduces the risk of blood pressure, stroke, heart disease, cancer, and eye disorders.

  • Rising Export and Import Volume of Fruits

For instance, in 2022, fresh fruits worth nearly USD 850 million were exported across the globe while the total export volume of processed fruits was estimated to be around USD 750 million.

  • Increasing Consumption of Milk  

In 2021, the total consumption of milk in India was estimated to be around 80,000 metric tons, additionally, the United States accounted for approximately 20,000 metric tons, and for the EU the figure reached nearly 22,000 metric tons.

  • Skyrocketing Demand for Cold Chain Packaging in Pharmaceutical Industry  

The total revenue generated by the pharmaceutical industry was estimated to be around USD 1.5 trillion in 2021.

Challenges

  • Possibility of Negative Impact on the Environment
  • Negative Government Initiatives regarding Cold Chain Packaging 
  • High Cost Associated with the Manufacturing

The global cold chain packaging materials market is segmented and analyzed for demand and supply by application into fruits & vegetables, meat & seafood, dairy product, bakery, pharmaceuticals, and others, out of which, the dairy product segment is projected to witness noteworthy growth over the forecast period. The growth of the segment can be accounted to the higher consumption of milk and other dairy product in household settings on a daily basis. For instance, in 2020, milk production across the globe was estimated to reach approximately 900 million tonnes.

Global Cold Chain Packaging Materials Market Regional Synopsis

Regionally, the global cold chain packaging materials market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in the Asia Pacific region is projected to hold the largest market share by the end of 2033. The growth of the market can be ascribed to the rising population boosting the demand for daily purchases of dairy products, vegetables, meat, and others. As of 2018, the total Asian population was projected to reach approximately 45 million. Additionally, the growing export volume of vegetables and rising disposable income are further anticipated to hike the growth of the market in the region over the forecast period. Hence, all these factors are projected to flourish the market growth during the forecast period.  

Cold-Chain-Packaging-Materials-Market-Scope

The global cold chain packaging materials market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global cold chain packaging materials market includes the following segments:

By Product

  • Crates
  • Insulted Containers & Boxes
  • Cold Packs
  • Labels
  • Others

By Material

  • Paper & Paperboard
  • Refrigerants
  • Polyurethane
  • Expanded Polystyrene
  • Others

By Application

  • Fruits & Vegetable
  • Meat & Seafood
  • Dairy Product
  • Bakery
  • Pharmaceuticals
  • Others

Top Featured Companies Dominating the Global Cold Chain Packaging Materials Market

  • Sonoco Products Company
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Huntsman International LLC
  • Vericool Inc.
  • The Dow Chemical Company
  • Covestro AG.
  • BioPak Pty Limited
  • Armstrong Brands, Inc.
  • Mondi plc
  • Amcor plc
  • Novolex Holdings, LLC

 

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