Cold Chain Packaging Market size is estimated to cross USD 14 Billion by the end of 2033, growing at a CAGR of 7% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of cold chain packaging was USD 7 Billion. 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.
Global cold chain packaging 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.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
~7% |
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Base Year Market Size (2022) |
~USD 7 Billion |
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Forecast Year Market Size (2033) |
~USD 14 Billion |
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Regional Scope |
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Application (Fruits & Vegetables, Meat & Seafood, Dairy Product, Bakery, Pharmaceuticals)
The global cold chain packaging 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.
Our in-depth analysis of the global market includes the following segments:
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By Product |
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By Material |
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By Application |
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Regionally, the global cold chain packaging 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.
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.
Author Credits: Sadaf Naaz, Mohd Shadab
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