The global cold storage tape market, valued at USD 628 million in 2023, is projected to grow at a CAGR of 3.1% over the forecast period, reaching USD 871 million by 2034. This growth is fueled by increasing demand across diverse industries, including floral, pharmaceutical, logistics, and food and beverage sectors.
Key Market Drivers:
- Floral Industry Surge: The global floral industry, particularly in countries with robust hospitality sectors like Thailand, Singapore, and Malaysia, drives significant demand for cold storage tapes. These tapes are crucial for maintaining the aesthetic appeal and quality of flowers during transportation and storage.
- Pharmaceutical Expansion: Post-pandemic, the pharmaceutical industry has expanded rapidly in countries such as India, China, and the UK. Cold storage tapes play a vital role in sealing and labeling medicine bottles, vials, and packages requiring refrigeration, thereby witnessing increased adoption.
- Logistics and Shipping: The logistics and shipping sectors require cold storage tapes to secure and label temperature-sensitive goods during transportation. This demand has surged with the globalization of trade, particularly in countries like China, Brazil, India, and Thailand, where population growth and e-commerce have intensified market pressures.
- Chemical Sector Applications: Cold storage tapes are also extensively used in the chemical industry to seal and label containers, ensuring safe storage and handling of chemical products.
- Customization and Adaptability: Modern cold storage tapes are highly customizable to meet specific industry requirements, enhancing their adoption across various industrial applications.
Key Takeaways from the Market Study
- Cold storage tapes with thicknesses of up to 50 microns dominate the global market with a share of 37% in 2024.
- Based on the end user, the pharmaceuticals segment leads the cold storage tape market with a share of 48% in 2024.
- The cold storage tape market in India is anticipated to grow at a CAGR of 6.7% through 2034.
- The cold storage tape market in China is estimated to rise at a 3.9% CAGR through 2034.
- The cold storage tape market in Thailand has the potential to increase at 4.7% CAGR through 2034.
- The United States cold storage tape market is predicted to rise by 2.1% CAGR through 2034.
- The cold storage tape market in the United Kingdom is very likely to grow at a CAGR of 2.6% through 2034.
Competitive Landscape
With established businesses having a significant presence in the market, there is intense rivalry in the cold storage tape market. These major companies are the primary source of adhesive tapes for the pharmaceutical, food and beverage, chemical, and healthcare sectors. With reduced profit margins and a devoted customer base, there is little to no room for new competitors. These companies’ innovations have a significant impact on the industry because of their strong research and development initiatives.
Among the most well-known businesses in this sector are Lineage Logistics, Americold Logistics, United States Cold Storage, NewCold, and Nichirei Logistics Group.
Recent Developments:
- Distribution Solutions Group announced in March 2023 that it has acquired Hisco, broadening its focus to industrial technology and merging with TestEquity to improve services and market reach.
- For Bonduelle’s plant-based goods, Constantia Flexibles and ExxonMobil introduced reusable freezer films in June 2024. Multi-material films were replaced with a mono-material polyethylene solution, which improved a variety of vegetables’ recyclability and packaging durability.
Key Players in the Cold Storage Tape Industry
- Lineage Logistics
- Americold Logistics
- United States Cold Storage
- NewCold
- Nichirei Logistics Group
- Emergent Cold LatAm
- Interstate Warehousing
- Frialsa Frigorificos
- Constellation Cold Logistics
- Superfrio Logistica Frigorificada
- FreezPak Logistics
- Conestoga Cold Storage
- Congebec Logistics
- METCOLD Supply Network Management
- RLS Partners
- Friozem Armazens Frigorificos
- Magnavale
- Confederation Freezers
- Trenton Cold Storage
- Nor-Am Cold Storage
Access Full Report: https://www.futuremarketinsights.com/reports/cold-storage-tape-market
Key Segments of the Cold Storage Tape Industry
By Thickness:
The cold storage tape market is segmented based on thickness, with options including tapes up to 50 microns, tapes ranging from 51 to 100 microns, and tapes above 100 microns.
By Applications:
In terms of application, cold storage tapes are utilized across various sectors such as food and beverages, personal care and cosmetics, pharmaceuticals, chemicals, and other industrial applications.
By End User:
Based on end-user, the market is classified into food and beverages, personal care and cosmetics, pharmaceuticals, chemicals, and other industrial sectors.
By Region:
Key countries of North America, Latin America, Europe, East Asia, South Asia, Middle East and Africa (MEA), and Oceania have been covered in the report.
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