Cold Chain Packaging Market Is Estimated To Witness High Growth |...

Cold Chain Packaging Market Is Estimated To Witness High Growth

Posted 2023-11-02 05:51:22

The Cold Chain Packaging Market is estimated to be valued at US$ 24.32 Bn in 2022 and is expected to exhibit a CAGR of 9.70% over the forecast period 2022-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Cold chain packaging helps maintain the structural integrity and temperature-sensitive condition of pharmaceutical products, food, and other commodities during transport and storage. It utilizes different types of insulation materials, refrigerants, and temperature monitoring devices. These packaging systems play a crucial role in keeping medical products and perishable items fresh during transportation without breaking the cold chain.

Key Takeaways

The global cold chain packaging market is expected to witness high growth, exhibiting CAGR of 9.70% over the forecast period, due to increasing demand for perishable food products and temperature-sensitive pharmaceuticals. Rapid urbanization and growth of organized retail is fueling demand for fresh produce driving need for cold chain packaging.

Regional analysis:

North America dominated the cold chain packaging market in 2021 with a share of over 30%, owing to stringent regulations around food safety and presence of major cold chain companies. Asia Pacific is poised to be the fastest growing market, expanding at a CAGR of 11.2% during the forecast period. Increasing consumer health awareness and rising spending on food and healthcare in China and India will propel regional growth.