Europe Cold Chain Packaging Market Trends & Growth By 2030

Europe Cold Chain Packaging Market Overview:
The cold chain packaging market in Europe is expected to grow at a profitable rate, with a predicted value of USD million by 2030, up from USD 22,256.4 million in 2022. Over the projection period of 2023-2030, the market is expected to develop at a CAGR of 14.2%. One of the main end markets for cold chain packaging is the pharmaceutical sector. The cold chain packaging industry is expanding along with the growing need for medications that are temperature sensitive. As more and more people buy perishable goods online, the advent of e-commerce has increased demand for cold chain packaging. The market value of cold chain packaging has expanded as a result of the growing requirement for packaging solutions that can keep items at a consistent temperature during transportation.

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Market Dynamics:
It's crucial to maintain a consistent temperature range while shipping temperature-sensitive goods like pills, shots, and capsules. These items should also be shielded from shocks, jostling, rough handling, inclement weather, and other unforeseen circumstances. Temperature monitoring devices should be included in all vaccine shipments in accordance with WHO guidelines on the international packaging and delivery of vaccines in order to document whether temperature restrictions have been exceeded. Vaccines are exposed to incorrect storage temperatures by 17% to 37% of HCPs. The market for cold chain packaging has increased as a result of this contributing element, which also led to an increase in its usage.

The growth of the cold chain packaging market is expected to be constrained by rising raw material costs. Polyurethane (PU) and polystyrene are the two primary basic ingredients used to make a cold chain packaging solution (PS). Comparing the first quarter of 2022 to the fourth quarter of 2021, the price of polystyrene increased quickly by 13%. On the European market, polystyrene was priced in June at 2895 USD/MT per MT GPPS FD Hamburg, Germany. Hence, the growth of the cold chain packaging market is hampered by the rising cost of raw materials.

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Market Geographical Share:
Germany's need for cold chain packaging is being driven by the pharmaceutical industry's growing demand for longer shelf lives and increased safety. Germany had the largest market share for cold chain packaging in 2022. Due to the rise in infectious diseases and chronic illnesses, growing pharmaceutical and medical technology companies are driving Germany's cold chain packaging market demand. As per the United Nations COMTRADE database on international trade, Germany's pharmaceutical exports were valued at US$126.01 billion in 2022. Therefore, cold chain packaging is becoming more popular in Germany as a means of delivering these goods and preserving their long shelf life.

Major Key Players:
Key players are Saint-Gobain, Cryopak Industries Inc, Cold Chain Technologies, Inc., Americold Logistics, Dgp Intelsius LLC., Burris Logistics, CCL Industries, Intelsius, Softbox Systems, Sonoco Thermosafe.

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