Cold Chain Packaging Market Trends

Growth Drivers

• Growing Demand for Fresh Vegetables - As of 2022, the export volume of fresh and processed vegetables from India was estimated to be approximately USD 800 million and USD 400 million respectively.

Fresh vegetables are consumed by the global population at a high scale since it consists of low calories and countless health properties. Vegetables are mixed in various types of cuisines and dishes to improve their appearance and quality. it has been found that consuming a rich diet of fruits and vegetable reduces the risk of blood pressure, stroke, heart disease, cancer, and eye disorders.

• Rising Export and Import Volume of Fruits- For instance, in 2022, fresh fruits worth nearly USD 850 million were exported across the globe while the total export volume of processed fruits was estimated to be around USD 750 million.

• Increasing Consumption of Milk  - In 2021, the total consumption of milk in India was estimated to be around 80,000 metric tons, additionally, the United States accounted for approximately 20,000 metric tons, and for the EU the figure reached nearly 22,000 metric tons.

• Skyrocketing Demand for Cold Chain Packaging in Pharmaceutical Industry  - The total revenue generated by the pharmaceutical industry was estimated to be around USD 1.5 trillion in 2021.

Challenges

• Possibility of Negative Impact on the Environment
• Negative Government Initiatives regarding Cold Chain Packaging 
• High Cost Associated with the Manufacturing

The global cold chain packaging materials market is segmented and analyzed for demand and supply by application into fruits & vegetables, meat & seafood, dairy product, bakery, pharmaceuticals, and others, out of which, the dairy product segment is projected to witness noteworthy growth over the forecast period. The growth of the segment can be accounted to the higher consumption of milk and other dairy product in household settings on a daily basis. For instance, in 2020, milk production across the globe was estimated to reach approximately 900 million tonnes.