The Cold Chain Packaging Market will rise from USD 35.320 billion in 2025 to USD 52.199 billion in 2030, with an 8.13% compound annual growth rate (CAGR).
As the world is getting more and more globalized, the trade of all kinds of products has been increasing across the world, including products that have to be kept at a certain temperature, which is anticipated to have a positive impact on the cold chain packaging market growth. Furthermore, the healthcare industry has been growing across the world, with an increase in the number of patients and an increased healthcare expenditure by several nations. According to the data from the OECD, healthcare spending in Germany has increased from 5,670.6 US dollars per capita in 2016 to 6,518 US dollars per capita in 2019. Similarly, other nations have been increasing their healthcare spending which is boosting the demand for cold storage of medicines from the healthcare sector. This is anticipated 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 projected to bolster the market growth during the forecast period.
The cold chain packaging market is expected to surge over the forecast period owing to the increasing demand for processed food and the consequent growing consumption in many parts of the world. As the world is getting more and more urbanized, the diet patterns of the consumers have been changing. With the upsurge of busy lifestyles of people with the increase in urbanization, industrialization, and corporate culture, more and more consumers now look for ready-made, packed, and processed foods. As many processed food requires them to be at a specific temperature in order to maintain their optimum quality, the demand for cold chain packaging has been increasing with the increased demand for processed foods.
According to the World Obesity Federation, the consumption of ultra-processed food products in Central and East Asia has increased from nearly 40 kg per capita in 2010 to around 42 kg per capita in 2016. As per the data from WOF, the consumption of processed foods in both Latin America & the Caribbean and North Africa & Middle East regions has increased from around 20 kg per capita in 2002 to more than 30 kg per capita in 2016. The consumption of processed foods is further expected to continue in the coming years as well and is projected to propel the growth of the cold chain packaging market during the forecast period.
The Cold Chain Packaging Market is analyzed into the following segments: