Sustainable Solutions Drive Growth in Cold Chain Packaging Market - Forecasted to Attain $54.99 Billion by 2028

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Experiencing rapid growth, the cold chain packaging market is set to elevate from $28.02 billion in 2023 to $31.92 billion in 2024, showcasing an impressive compound annual growth rate (CAGR) of 13.9%. The market's upward trajectory continues, with a forecasted CAGR of 14.6%, propelling it to $54.99 billion by 2028.

Drivers: Rapid Urbanization Fuels Growth

The cold chain packaging market is poised for expansion, propelled by rapid urbanization. Urban development, driven by the increasing global population, triggers higher demand for processed and easily consumable food items. The surge in urbanization, with 4.46 billion people residing in urban areas globally as of 2021, is expected to reach 6.68 billion by 2050. This shift in lifestyle choices boosts the demand for cold chain packaging, particularly for preserving frozen fruits and vegetables, dairy products, seafood, and meat during transit and storage.

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Drivers: Increasing Food Waste Spurs Market Growth

The market's growth is further accelerated by the escalating issue of food waste and spoilage. Cold chain packaging emerges as a solution to combat food loss, preserving the quality and freshness of food products during transportation and storage. Alarming statistics from the Food and Agriculture Organization of the United Nations indicate that approximately 14% of globally produced food, valued at $400 billion annually, is lost before reaching stores. Tackling this challenge, cold chain packaging plays a pivotal role in reducing food waste.

Key Players:

Major companies influencing the cold chain packaging market include Cold Chain Technologies Inc., Cryopak Industries Inc., Sofrigam Company, CCL Industries Inc., Sealed Air Corporation, and others.

Trends: Growth Of Sustainable Cold Chain Packaging Solutions

An emerging trend in the cold chain packaging market is the growing focus on sustainable packaging solutions. Companies are investing in reusable, multi-use, materials-based temperature-controlled packaging solutions. Sustainable packaging not only aligns with environmental regulations but also offers long-term cost benefits by reducing CO2 emissions. Notably, Packaging Technology Group introduced an extended-duration, curbside recyclable thermal shipper, maintaining 2-8 °C for 72 hours.

Region Info: Western Europe Leads in 2023

In 2023, Western Europe claimed the top spot in the cold chain packaging market. The comprehensive market report covers regions such as Asia-Pacific, Eastern Europe, North America, South America, and the Middle East and Africa.

Segments:
The cold chain packaging market covered in this report is segmented -
1) By Product: Crates, Insulated Container And Boxes, Cold Packs, Label, Temperature Controlled Pallet Shippers
2) By Material Type: Expanded polystyrene (EPS), Vacuum insulated panel (VIP) solutions, Polyurethane (PUR)
3) By Application: Fruits And Vegetables, Fruit And Pulp Concentrates, Dairy Products, Fish, Meat And Seafood, Processed Food, Pharmaceuticals, Bakery And Confectionaries

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Cold Chain Packaging Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Cold Chain Packaging Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on cold chain packaging market size, cold chain packaging market drivers and trends, cold chain packaging market major players, competitors' revenues, cold chain packaging market positioning, and cold chain packaging market growth across geographies. The cold chain packaging market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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