05 March 2021
Visiongain has published a new report on US Cold Chain Packaging Market Report to 2031: Forecasts By Type (Refrigerated Warehouse and Refrigerated Transportation (Road Transport, Sea Transport, Rail Transport, Air Transport)), By Application (Dairy & Frozen Desserts, Meat & Seafood, Fruits & Vegetables, Bakery & Confectionery and Others), PLUS Profiles of Leading U.S Cold Chain Packaging Manufacturing Companies and Regional and Leading National Market Analysis, PLUS COVID-19 Recovery Scenarios.
The U.S Cold Chain Packaging market was valued at US$ xx billion in 2020 and is projected to reach a market value of US$ xx billion by 2031. Rising demand for different packaging solution is a major factor resulting to the rise in the demand for cold chain packaging. Further inclination of the consumers towards ready to eat food items is also a major factor triggering the market growth cold chain packaging.
COVID-19 Impact on Cold Chain Packaging Market
COVID-19 impacted positively upon the cold chain packaging market owing to the rise in the demand for cold storage medical products that are used in the healthcare industry. Further the pandemic will strengthen the international cooperation and development of policies for the online supply and purchases. In addition to this, online purchasing as an alternative to physical purchase is also triggering the demand for cold chain packaging.
Growing demand for processed food items
There is a growing demand for processed food items which is a major factor resulting to the rise in the demand for U.S cold chain packaging. Processed foods such as frozen fruits, dairy products, vegetables, meat and seafood are preferred by consumers due to the busy and hectic lifestyle. Processed food is sold through several distribution channels such as supermarkets, wholesalers/distributors, export, distribution to retailers among others. In Mexico, supermarkets accounted for 42% of the processed food products in Mexico.
Rise in the demand for online grocery
Online grocery shopping is gaining popularity among the consumers in recent years due to the rising number of tech-savvy consumers. For instance, sales of packaged food products is contributing significantly towards the online Amazon grocery.
Rise in demand for safe packaging solution from pharmaceutical industry
There is increasing focus towards safety and security of temperature controlled clinical results, medications during transportation which is triggering the overall demand for cold chain packaging. These solutions enable proper packaging and shipping of products that are temperature sensitive. Therefore, this is generating new opportunity to U.S cold chain packaging market during the forecast period.
Some of the major companies operating in the global U.S cold packaging market are Cascades inc., Cold Chain Technologies, Creopack, Cryopak A TCP Company, Intelsius, Pelican Products, Inc., Softbox, Sofrigam, Sonoco ThermoSafe, va Q tec among others. The market is fragmented in nature and consists of several small and medium players. Companies are actively engaging upon merger & acquisition, new product developments and launches in order to grab more number of customer attention. For instance, in 2019, Sealed Air announced its strategic acquisition of Automated Packaging Systems Inc. who is one of the leader in automated bagging systems. Earlier in 2018, Softbox Systems Ltd. Acquired TPC Global which is a provider of thermal protection covers for the healthcare industry.
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Rising demand for different packaging solution is a major factor resulting to the rise in the demand for cold chain packaging. Further inclination of the consumers towards ready to eat food items is also a major factor triggering the market growth cold chain packaging.
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