DUBLIN, June 1, 2022 /PRNewswire/ — The report “Cold Chain Packaging Market – Forecast 2021 to 2026” has been added to from ResearchAndMarkets.com offer.
The cold chain packaging market is expected to grow at a compound annual growth rate of 16.10% to reach US$72.311 billion by 2026, US$25.427 billion in 2019. As the world becomes more and more global, trade in all kinds of products is increasing across the globe, including products that need to be kept at a certain temperature, which should have a positive impact on cold chain packaging market growth.
In addition, the healthcare industry has grown across the world, with an increase in the number of patients and an increase in healthcare expenditure in several countries. According to OECD data, the health expenditure of Germany increased by US$5,670.6 per capita in 2016 at US$6,518 per capita in 2019.
Similarly, other countries have increased their healthcare spending, which is driving the demand for cold storage of medicines from the healthcare sector. This is expected to have a positive impact on the cold chain packaging market in the coming years. Moreover, the growing consumption of processed foods is another major factor that is expected to support the growth of the market over the forecast period.
Rise in consumption of processed foods
The cold chain packaging market is expected to increase over the forecast period owing to the growing demand for processed foods and the resulting rising consumption in many parts of the world. As the world becomes more urbanized, consumer eating habits have changed. With the resurgence of people’s busy lifestyles with increasing urbanization, industrialization and corporate culture, more and more consumers are now looking for convenience, packaged and processed foods. . As many processed foods require them to be at a specific temperature in order to maintain their optimum quality, the demand for cold chain packaging has increased with the growing demand for processed foods.
According to the World Obesity Federation, the consumption of ultra-processed food products in East Asia increased from almost 40 kg per capita in 2010 to around 42 kg per capita in 2016. According to WOF data, the consumption of processed foods in both Latin America & the Caribbean and North Africa & Middle East increased from around 20 kg per capita in 2002 to more than 30 kg per capita in 2016. The consumption of processed foods is also expected to continue in the coming years and is expected to propel the growth of the chain packaging market cold during the forecast period.
Information on COVID-19
The SARS-COVID-19 virus outbreak has had a positive impact on the market growth. The pandemic has led to an increase in demand for drugs and other pharmaceuticals around the world. With the introduction and growing demand for COVID-19 vaccines, worldwide there has been an increase in the adoption of cold chain packaging services and solutions. Several companies, such as Pfizer and others, had said their vaccines needed to be stored at lower temperatures.
According to the International Federation of Pharmaceutical Manufacturers and Associations, up to December 2020, about 78 COVID-19 vaccines had gone through clinical trials. This number was expected to increase in 2021. The growing preference and demand for refrigerated vaccines, due to their higher yield, has had a positive impact on cold chain packaging suppliers, globally entire.
Additionally, pharmaceutical companies had outsourced cold chain capabilities to contractors around the world. The market is further expected to rise in 2021 as the pace of vaccination has increased, and the opening up of the economy and the lifting of lockdown restrictions have had a positive impact on the global food and beverage sectors, in the whole world.
Market segmentation :
- Isothermal containers and boxes
- Cold compresses
- Fruits and vegetables
- Dairy products
- Processed foods
- health care packaging
- North America
- UNITED STATES
- South America
- Middle East and Africa
- Saudi Africa
- Saudi Arabia
- Asia Pacific
- South Korea
Main topics covered:
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1. Market factors
4.2. Market constraints
4.3. Porter’s Five Forces Analysis
4.4. Industry Value Chain Analysis
5. COLD CHAIN PACKAGING MARKET BY PRODUCT (Million Units) (USD Billion)
5.2. Isothermal containers and boxes
5.3. Cold compresses
6. COLD CHAIN PACKAGING MARKET BY APPLICATION (Million Units) (USD Billion)
6.2. Fruits and vegetables
6.3. Dairy products
6.4. Processed foods
6.5. health care packaging
7. COLD CHAIN PACKAGING MARKET BY GEOGRAPHY (Million Units) (USD Billion)
7.2. North America
7.2.1. North America cold chain packaging market, by product, from 2019 to 2026
7.2.2. North America cold chain packaging market, by application, from 2019 to 2026
7.2.3. By country
188.8.131.52. United States
7.3. South America
7.3.1. South America cold chain packaging market, by product, from 2019 to 2026
7.3.2. South America cold chain packaging market, by application, from 2019 to 2026
7.3.3. By country
7.4.1. Europe cold chain packaging market, by product, from 2019 to 2026
7.4.2. Europe cold chain packaging market, by application, from 2019 to 2026
7.4.3. By country
7.5. Middle East and Africa
7.5.1. Middle East and Africa cold chain packaging market, by product, from 2019 to 2026
7.5.2. Middle East and Africa cold chain packaging market, by application, 2019 to 2026
7.5.3. By country
184.108.40.206. Saudi Arabia
220.127.116.11. South Africa
7.6. Asia Pacific
7.6.1. Asia-Pacific cold chain packaging market, by product, from 2019 to 2026
7.6.2. Asia-Pacific cold chain packaging market, by application, from 2019 to 2026
7.6.3. By country
18.104.22.168. South Korea
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Key Players and Strategic Analysis
8.2. Emerging players and market profitability
8.3. Mergers, acquisitions, agreements and collaborations
9. COMPANY PROFILES
9.1. Sonoco Thermosafe
9.2. Va-q-tec SA
9.5. Softbox Systems, Inc.
9.6. Airline Sealed
9.7. DGP Intelsius LLC.
9.9. American airgel
9.10. Mesa Laboratories
For more information on this report visit https://www.researchandmarkets.com/r/7es9yn
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SOURCE Research and Markets