• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Reusable Packaging News

Pallet and reusable packaging news, resources and suppliers

Shuert Industries
  • Pallet and Container Playbook
  • Pallets 101
    • PLASTIC PALLET VENDORS
      • CORRUGATED PALLET VENDORS
    • IBC/Bulk Container Suppliers
      • PALLET PACK VENDORS
      • IBC/BULK CONTAINER GUIDE 2019
      • IBC/BULK CONTAINER POOLERS
  • Reusable Packaging 101
  • About Us
    • PRIVACY POLICY: REUSABLE PACKAGING NEWS
    • ADVERTISING & PARTNERSHIP INFORMATION
    • SUBMISSIONS
  • Español
You are here: Home / Cold Chain Packaging / Cold Chain Packaging Market is Set to Continue to Expand at a CAGR of 14.8% Between 2023 and 2033

Cold Chain Packaging Market is Set to Continue to Expand at a CAGR of 14.8% Between 2023 and 2033

February 22, 2023 By Rick LeBlanc

The cold chain packaging industry is expected to be dominated by Europe. The region is predicted to account for about 28% of global sales. Distribution of pharmaceuticals and food products throughout the region has increased the need for dependable cold chain packaging solutions. Worldwide, reusable packaging formats are projected to exhibit a CAGR of 15.0% between 2023 and 2033.

cold chain packaging, pharmaceutical packaging
Cold chain packaging file photo: Credo Go Small

In 2023, FMI predicts that the market for cold chain packaging willreach US$ 26.1 billion. It is estimated to continue expanding between 2023 and 2033 at a CAGR of 14.8%. In 2033, the market is projected to be worth more than US$ 103.7 billion.

Temperature-sensitive pharmaceutical products must be safeguarded throughout shipping against rough handling, harsh weather, and other unforeseen circumstances. They need to be maintained with a stable temperature range.

Pharmaceuticals have a complicated supply chain that necessitates attention to numerous small aspects during transit and delivery. Pharmaceutical supplies must be transported to warehouses at specific temperatures.

They must also be properly assembled and sorted before being delivered to the appropriate pharmacies. Adopting cold chain packaging solutions for transporting temperature-sensitive goods allows for flexibility in routing and simplicity in handling. It can also reduce the risk of transit-related damage.

Numerous companies are set to launch different types of measures to track vaccine waste at the national level. These initiatives concentrate on the safe handling and delivery of vaccines. Third-party logistics service providers have adopted several cold chain packaging solutions; as a result, thereby boosting the market.

The global pharmaceutical sector is expanding quickly due to rapid globalization and the development of low-cost medications. Government agencies from all over the world are urging individuals to shift to generic medications and bio-equivalent pharmaceuticals. This mainly occurs as they are substantially less expensive but still necessitate cold chain packaging and transportation.

Key Takeaways of the Cold Chain Packaging Market

  • The insulated containers segment by product type is anticipated to hold more than 1/3rd of the cold chain packaging market share by 2023.
  • Reusable packaging formats are projected to exhibit a CAGR of 15.0% between 2023 and 2033.
  • The polymer segment by material type will likely account for around 3/5th of the cold chain packaging market share in 2033.
  • By end user, the food segment is estimated to create an incremental opportunity of US$ 17 billion in the forecast period.
  • Germany’s cold chain packaging market is likely to surge 3.6 times its present rate in the assessment period.

“Lightweight shippers that provide high volume efficiency tend to offer financial benefits such as low transportation cost due to low shipping weight. To reduce overall cost, manufacturers should select shippers with high payload capacity. Reusable cold chain packaging helps in reducing cost per use and enhances profitability margins for manufacturers,” says a lead analyst at Future Market Insights.

Efficient Pallet Shippers to Become an Ideal Choice for Manufacturers to Fulfil Ultra Low-Temperature Requirements

Numerous pharmaceutical treatments designed to treat uncommon diseases frequently contain valuable components with a limited shelf life. They also contain severe temperature specifications, such as a temperature range of -40 to -150 degrees Celsius. Demand for pallet shippers that provide safe delivery of such materials is hence anticipated to increase as the use of medicinal products with ultra-low temperature ranges increases.

Businesses can take advantage of this opportunity to the fullest by creating packaging options tailored to this product category and gain a sizable competitive edge. Pallet shippers are traditional heavy-duty metal boxes that are actively handled and have substantial transportation issues for lengthy multi-modal routes.

They are utilized for air freight shipping. Nevertheless, numerous businesses have recently released passive pallet shippers that make use of high-density polyurethane insulation technology.

For bulk shipments, this results in convenience, dependability, and value. Key cold chain packaging solution providers have a significant opportunity in this market to produce effective passive pallet shippers as active competitors are expensive and insufficient for remote transportation needs.

Expansion of Rental Businesses to Create New Opportunities for Cold Chain Packaging Companies

The market has recently seen a trend where companies offering cold chain packaging solutions rapidly broaden their rental business. They are relatively less focused on new product sales.

Purchasing these still constitutes an unfeasible and environmentally unsound option for numerous end users. This is due to the high costs of insulated containers and shippers, as well as the environmental risks associated with their disposal.

In a few nations, especially Germany, it is illegal to dispose of expanded polystyrene and polyurethane rigid foam. Doing so incurs additional costs. For cold chain packaging, various end users choose to lease or rent shippers or containers.

Manufacturers of shippers and containers, on the other hand, experience high returns on their investments and low cost of ownership. It can lead to high-profit margins. But, this technique is still not cost-effective unless a business has a closed-loop system. Establishing depots in numerous areas is necessary for the firm to succeed.

For instance,

  • Together with Yusen Logistics Pte. Ltd., Va-Q-tec AG developed a temperature-controlled container leasing facility in Singapore.
  • Credo on demand is indeed a pallet shipper renting program that was established by Pelican Biothermal.

Competition Landscape: Cold Chain Packaging Market

Sonoco ThermoSafe, Pelican Products, Inc., Sofrigam SAS, Sealed Air Corporation, Cryopak Industries Inc., and CSafe Global, LLC are key players operating in the cold chain packaging market.

Few of the other noticeable players in the market include Softbox Systems Ltd., TOWER Cold Chain Solutions, DGP Intelsius LLC, TemperPack Technologies, Inc., Tempack Packaging Solutions SL, Dokasch Temperature Solutions, Cold Chain Technologies, Insulated Products Corporation., Engineered Packaging, Inc. dba Chill-Pak, CoolPac, Orora Packaging Solutions, and others. Tier 1 players in the market hold 10% to 15% of the share in the global cold chain packaging market.

Source: FMI

Related Articles

Advanced Packaging Tools and Materials for the Cold Chain

Cold Chain Technologies Acquires Packaging Technology Group

Sustainable Orion Rental Packaging Meets Growth for Pharmaceutical Supply Chains in the UK

Filed Under: Cold Chain Packaging, Reusable Packaging

Primary Sidebar

JOIN OUR NEWSLETTER

Shuert
Orbis
CONPearl
https://reuseabletranspack.com
Schaefer
RPPContainers.com
www.filmloc.com
SolarPowerSystems.org
Litco.com

SEARCH

Categories

Archives

COPYRIGHT © 2023 PACKAGINGREVOLUTION.NET · Log in