The Pharmaceutical Cold Chain Packaging Market is expected to reach US$ 46.9 Bn by 2031, likely to surge at a vigorous 15% CAGR during the assessment period.
The existence of multiple companies has fragmented the worldwide pharmaceutical cold chain packaging market. However, the majority of the major producers are concentrated in India, China, and the United States.The market is likely to increase significantly as new players build manufacturing facilities in developing countries such as India, Brazil, and Malaysia. The market penetration is so low that it will expand tenfold in the future years.
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Key Takeaways from Pharmaceutical Cold Chain Packaging Market
- By packaging format, active packaging is expected to grow by 5xtimes by 2031.
- By product, the demand for large sized pallet containers is expected to increase at a CAGR of 6%during the period of 2021-2031.
- By material, paper is expected to create an incremental opportunity of US$ 10.5 Bnduring the forecast period.
- By application, vaccine and diagnostics segment is expected to hold a value market share of 1%in 2021.
- By end use, vaccine packaging industry is expected register Y-o-Y growth of 1% in 2021.
- The U.S. pharmaceutical cold chain market is expected to reach a market value of US$ 7.0 Bnby 2031.
- India is expected to be the most lucrative market across South Asia
- China and Germany are expected to spearhead the growth of East Asia and Europe market during the forecast period.
Several market companies have been drawn to Asian countries by low production costs, simple access to labour, and cheap availability of raw materials. In the pharmaceutical cold chain packaging market, this trend is also evident.
Demand for safe packaging materials is increasing in the pharmaceutical industry. Expansion of pharmaceutical delivery chains has fuelled the demand for solutions to allow storage of products in the prescribed cold temperature so that they don’t undergo any chemical reaction or change their formulation, which could be dangerous for the consumers. These factors are expected to bode well for the market.
“Sales of sustainable pharmaceutical cold chain packaging solutions are driven by the need for more ecological packaging with improved tracking. Steered by increasing demand, market players are expected to focus on strategic collaborations. This also will help them expand their footprint globally” says FMI analyst.
Commencement of Inoculation Across the Globe will Improve the Pharmaceutical Cold Chain Packaging Market Demand
With the pressure to distribute the COVID-19 vaccine worldwide and to address the seasonal demand for flu shots, pharmaceutical companies are largely depending on cold chain packaging companies to deliver their products in a faster, convenient and hassle-free manner. It is improving the value of the cold chain packaging market and giving rise to innovations and technological advancements.
Collaborations and Integrations Among Key Players to Boost Market Demand
Due to the slight disruption in supply chain due to COVID-19, pharmaceutical companies are involving multiple players to fulfil delivery across the globe. With multiple companies involved, multiple touchpoints for delivery are created and the product could be easily tracked in this process. Several companies are integrating with logistic providers to create a special logistic chain that can carry the processes like warehousing, logistics, delivery and shipment with lower costs.
Market Landscape
Sonoco ThermoSafe, Cold Chain Technologies, Sealed Air Corporation, Nordic Cold Chain Solutions, Cryopak, CSafe Global LLC, TemperPack Technologies, Inc., Insulated Product Corp., Global Cooling, Inc., Envirotainer AB, va-Q-tec AG, EMBALL’ISO, Softbox Systems, Sofrigam SAS, DGP Intelsius LLC, Tempack Packaging Solutions SL, TOWER Cold Chain Solutions, Pelican BioThermal LLC, Blue Star Limited, BIOBASE Group, Andores New Energy Co., Ltd., Haier Biomedical Co. Ltd., Tamai Kasei Co., Ltd., Dhruvraj Syndicate, Valor Industries, KODIAKOOLER, WoolCool Ltd., and Allwin Roto Plast are few of the market players in the pharmaceutical cold chain packaging market.
Tier one market players hold 10% to 15% of the total global pharmaceutical cold chain packaging market. As per FMI, tier-1 players include Sonoco ThermoSafe, Sealed Air Corporation, and Nordic Cold Chain Solutions. Sonoco ThermoSafe is expected to contribute approximately 3 to 4% to the total pharmaceutical cold chain packaging market share.
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Pharmaceutical Cold Chain Packaging Market by Category
By Packaging Format:
- Passive Packaging
- Single Use or One Way Use Packaging
- Multiple Use or Re-Usable Packaging
- Active Packaging
- Reefer Trucks and Containers
- Active Pallet Containers
By Product:
- Small Boxes
- Pallets
- Single Pallets
- Double Pallets
- Large sized Pallet Containers
By Material:
- Polymer
- Polyethylene
- Polypropylene
- PET
- EPS
- Polyurethane
- Others
- Metal
- Paper
By Application:
- Biologics and Biological Samples
- Vaccines and Diagnostics
- Others
By End-Use:
- Diagnostic Centers
- Clinical Research Organization
- Blood Banks
- Vaccines Packaging Industry
- Pharmaceuticals
- Other Healthcare Units
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