Cold chain packaging plays an important role in supply chain management for transportation and storage of temperature-sensitive products. Expanding trade of perishable products is anticipated to drive the demand for cold chain packaging over the forecast period. Companies operating in the market for cold chain are adopting alternative energy solutions such as wind and solar to minimize overall operating cost. Among cold chain packaging, refrigeration packaging is use to increase the product’s shelf life and to maintain quality of products.
Increasing technological advancements in process such as packaging, processing, and storage of seafood products are anticipated to contribute in the growth of the global cold chain packaging market. Increasing trend of strict regulation over food safety such as the Food Safety Modernization Act that needs growing concern toward construction of cold storage warehouse is expected to contribute in the growth of the market. Growing trend of adoption of environmental audit systems such as Building Research Establishment Environmental Assessment Method (BREEAM) or Leadership in Energy and Environmental Design (LEED) make able to evaluate designs at initial stage. Thus, rough these audit system operational performance of completed buildings can be assessed. Temperature-controlled warehouses are highly energy-sensitive as they incorporate refrigeration and ventilation systems that require high power consumption. Moreover, better design can help to build net-zero energy warehouses with reducing power consumption.
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Global cold chain packaging market is segmented on the basis of material type, product type and application type. On the basis of material type, the market is fragmented into expanded polystyrene (EPS), vacuum insulated panel (VIP) solutions, polyurethane (PUR) and other material type. Further expanded polystyrene is divided into fabricated EPS and molded EPS market. On the basis of product type the market is categorised into phase change materials (PCMs), gel packs & bricks, insulated shipping containers, temperature loggers and others. Further insulated shipping containers market is dividing into parcel containers and pallet containers. On the basis of application type the market is fragmented into pharmaceutical packaging, health care & clinical trial distribution, medical device packaging and other application type market. Due to increasing demand for pharmaceuticals product, it is anticipated that pharmaceutical packaging market will lead the market during the forecast period.
North America is projected to lead the cold chain market. The major driver of the region is increasing innovation in autonomous trucks. Further, Mexico is expected to witness exponential growth over the forecast period. Key drivers for the same are rise in investments for the development of logistics infrastructure and penetration of warehouse management systems.
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Key players operating in the global cold chain packaging market include Cloverleaf Cold Storage (U.S.), Agro Merchant Group (U.S.), Henningsen Cold Storage (U.S.), Preferred Freezer Services, LLC (U.S.) and Nordic Logistics and Warehousing, LLC (U.S.). Cold chain service providers have invested aggressively to add onboard tracking equipment to refrigeration units for real-time location and temperature data to shippers and third-party logistics. It further make them able to increased visibility and opportunity to mitigate or prevent losses.
The Cold Chain Packaging market has been segmented as follows:
Global Cold Chain Packaging Market, by Material Type
• Expanded polystyrene (EPS)
o Fabricated EPS
o Molded EPS
• Vacuum insulated panel (VIP) solutions
• Polyurethane (PUR)
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Global Cold Chain Packaging Market, by Product Type
• Phase Change Materials (PCMs)
• Gel Packs & Bricks
• Insulated shipping containers
o Parcel Containers
o Pallet Containers
• Temperature Loggers
Global Cold Chain Packaging Market, by Application Type
• Pharmaceutical Packaging
• Health care & clinical trial distribution
• Medical device Packaging
Global Cold Chain Packaging Market, by Geography
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o Rest of Asia Pacific