The Cold Chain Packaging Market is estimated to be valued at US$ 22.39 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:
The cold chain packaging market deals with temperature controlled packaging solutions and transportation for temperature sensitive products such as pharmaceuticals, food, and beverages. These packaging solutions maintain optimum temperatures of perishable products throughout the supply chain and help extend their shelf life. They make use of materials such as gel packs, insulated shippers, refrigerants, and phase change materials to ensure temperature safety during transportation and storage. Growing healthcare and food industries have fueled the demand for cold chain packaging in recent years.

Market key trends:
One of the major trends driving the growth of the cold chain packaging market is enhanced cold chain monitoring. The implementation of advanced tracking technologies allows stock visibility across the supply chain and helps detect temperature fluctuations in real time. Players are increasingly offering smart and digital cold chain packaging solutions integrated with IoT devices, RFID tags, sensors, and mobile apps for remote monitoring of shipments. This helps avoid spoilage due to temperature excursions and improves logistical efficiency. The growing popularity of connected cold chain solutions indicates their rising adoption to enhance cold chain integrity and meet the stringent quality standards of various industries.

Porter's Analysis:

Threat of new entrants: Low capital requirements and established brand loyalty by customers pose low threat to new entrants.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of alternatives and price sensitivity of products.

Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to availability of substitute raw materials and less differentiation in products.

Threat of new substitutes: Low threat as cold chain packaging solutions have few substitutes that can provide the same functionality.

Competitive rivalry: High as the market is fragmented with the presence of several regional and international players.

SWOT Analysis:

Strengths: Thermo-resistant properties and ability to maintain temperature range during transportation are the key strengths.

Weaknesses: High initial costs and complexities in logistics and supply chain management pose challenges.

Opportunities: Increasing demand from food, pharmaceutical and healthcare sectors due to stringent regulations present opportunities.

Threats: Volatility in raw material prices and strictrules pertaining to recyclability and sustainability remain threats.

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 temperature-sensitive drugs and foods. The market size for 2021 was US$ 22.39 Bn.

North America holds the major share of the global cold chain packaging market currently and is expected to continue dominating over the forecast period. This is attributed to stringent regulations regarding food safety and growing demand for processed and packaged foods in the region.

Asia Pacific is projected to grow at the fastest rate owing to rising pharmaceutical and food industries, expanding retail sector, and growing consumer awareness in countries such as India and China.

Key players operating in the cold chain packaging market are Pelican BioThermal LLC, Sonoco Thermosafe, Cold Chain Technologies Inc., Cryopak, Sofrigam Company, Intelsius (A DGP Company), Coolpac, Softbox Systems Ltd, Clip-Lok SimPak, and Chill-Pak.

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https://www.rapidwebwire.com/global-cold-chain-packaging-market-estimated-to-witness-high-growth/