Dublin, Sept. 14, 2022 (GLOBE NEWSWIRE) -- The "Cold Chain Packaging Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
The global cold chain packaging market is expected to grow from $21.73 billion in 2021 to $24.54 billion in 2022 at a compound annual growth rate (CAGR) of 12.94%. The cold chain packaging market is expected to reach $39.89 billion in 2026 at a CAGR of 12.92%.
Western Europe was the largest region in the cold chain packaging market in 2021. The regions covered in the cold chain packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Rapid urbanization is expected to propel the growth of the cold chain packaging market during the forecast period. Urbanization over the past years has led to urban development as cities and other urban areas require a new and much greater amount of resources to keep up with the increasing population and their demands. While the rising population is triggering demand for food products, changing lifestyles are prompting consumers to opt for processed and easy-to-eat food items.
Processed food items such as frozen fruits and vegetables, dairy products, seafood, and meat have high demand across the world. Such food items require efficient packaging in transit and storage which is done with the help of cold chain packaging. For instance, as of 2021, nearly 4.46 billion people live in urban areas globally. This urban population is expected to grow to 6.68 billion by 2050. Thus, rapid growth in urbanization will drive the market growth.
The increasing focus on sustainable cold chain packaging is a key trend gaining popularity in the cold chain packaging market. Companies have invested in CO2-efficient transport methods but are losing about 20% because of inefficient cooling methods that are not fully sustainable. Major cold chain packaging companies are investing in reusable, multi-use, materials-based temperature-controlled packaging solutions.
Sustainable packaging products are cheap in the long term because they can be reused and offer environment-friendly options with fewer CO2 emissions, which is beneficial with governments setting regulations to reduce carbon emissions. For instance, in January 2022, Packaging Technology Group (PTG), a provider of thermal packaging solutions and services for the biopharmaceutical and life sciences sector announced the cold chain industry's first extended-duration, a curbside recyclable thermal shipper that maintains 2-8C for 72 hours.
In March 2022, Cold Chain Technologies LLC, a US-based packaging company acquired Packaging Technology Group, LLC for an undisclosed amount for environmentally sustainable packaging including cold chain packaging. The acquisition is expected to strengthen Cold Chain Technologies' portfolio and deliver a broader suite of innovative solutions to customers around the globe. Packaging Technology Group LLC is a US-based company founded in 2005 that designs and manufactures sustainable packaging for the biopharmaceutical and life sciences industry.
1) By Product: Crates; Insulated Container And Boxes; Cold Packs; Lable; Temperature Controlled Pallet Shippers
2) By Application: Fruits And Vegetables; Fruit And Pulp Concentrates; Dairy Products; Fish, Meat And Seafood; Processed Food; Pharmaceuticals; Bakery And Confectionaries
3) By Material Type: Expanded polystyrene (EPS); Vacuum insulated panel (VIP) solutions; Polyurethane (PUR)
Key Topics Covered:
1. Executive Summary
2. Cold Chain Packaging Market Characteristics
3. Cold Chain Packaging Market Trends And Strategies
4. Impact Of COVID-19 On Cold Chain Packaging
5. Cold Chain Packaging Market Size And Growth
6. Cold Chain Packaging Market Segmentation
7. Cold Chain Packaging Market Regional And Country Analysis
8. Asia-Pacific Cold Chain Packaging Market
9. China Cold Chain Packaging Market
10. India Cold Chain Packaging Market
11. Japan Cold Chain Packaging Market
12. Australia Cold Chain Packaging Market
13. Indonesia Cold Chain Packaging Market
14. South Korea Cold Chain Packaging Market
15. Western Europe Cold Chain Packaging Market
16. UK Cold Chain Packaging Market
17. Germany Cold Chain Packaging Market
18. France Cold Chain Packaging Market
19. Eastern Europe Cold Chain Packaging Market
20. Russia Cold Chain Packaging Market
21. North America Cold Chain Packaging Market
22. USA Cold Chain Packaging Market
23. South America Cold Chain Packaging Market
24. Brazil Cold Chain Packaging Market
25. Middle East Cold Chain Packaging Market
26. Africa Cold Chain Packaging Market
27. Cold Chain Packaging Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Cold Chain Packaging Market
29. Cold Chain Packaging Market Future Outlook and Potential Analysis
Cold Chain Technologies
Cryopak Industries Inc.
Sealed Air Corporation
For more information about this report visit https://www.researchandmarkets.com/r/ie5hmm
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