Refrigeration Packaging Market Size, Share, and Industry Analysis By Material (Paper & Paperboard, Plastic, Metal, and Others), By Product Type (Bags & Pouches, Boxes & Cartons, Bottles & Cans, Films & Wraps, and Others), By End Use (Food & Beverages, Pharmaceuticals, and Others), and Regional Forecast, 2024-2032

Refrigeration packaging is designed to store and transport temperature-sensitive, perishable food products such as fruits, meat, vegetables, and other items. The increasing demand for eco-friendly and reusable bags and pouches for the packaging of food products enhances the market growth. In addition, adopting biodegradable packaging solutions and rising consumer concerns regarding food safety will offer potential opportunities for the global refrigeration packaging market growth.

• For instance, in November 2020, Aldi, in collaboration with Sirane, announced the launch of its innovative 100% recyclable freezer bag. The newly launched ‘eco’ freezer bags are designed with fully recyclable polyethylene (95%) & seafood waste (5%).

The rapid demand for convenient and hygienic food packaging solutions majorly drives the global refrigeration packaging market growth. The increasing consumption of alcoholic and non-alcoholic beverages, ready-to-eat meals, and the rise in popularity of online food delivery services also contribute to the market growth.

The rising government regulations regarding the usage of plastic packaging products are the major factors hampering the global refrigeration packaging market growth. Moreover, the high costs of freezer bags, pouches, and films and the limited availability of such products in underdeveloped and rural areas also restrain market growth.

The COVID-19 pandemic had a critical effect on several end-use industries. The shutdown of business due to the imposed lockdowns negatively impacted the refrigeration packaging industry. However, the rising awareness regarding sustainable packaging solutions and the growing demand for refrigerated food products boosted the market growth during the pandemic period.

SEGMENTATION

 ANALYSIS BY MATERIAL

Based on material, the market is segmented into paper & paperboard, plastic, metal, and others. The plastic segment dominates the global refrigeration packaging market. The material offers rigidity, enhanced dimensional stability, and better chemical resistance. It also protects the food items from deterioration and boosts shelf life, further driving the segmental growth.

ANALYSIS BY PRODUCT TYPE

Based on product type, the market is segmented into bags & pouches, boxes & cartons, bottles & cans, films & wraps, and others. The bags & pouches segment leads the market and is estimated to grow significantly over the forecast period. The ease, convenience, and airtight sealing of the bags and pouches enhance their usage in packaging food, beverages, pharmaceuticals, and life science-related products.

ANALYSIS BY END-USE

Based on end-use, the market is segmented into food & beverages, pharmaceuticals, and others. The food & beverages segment dominates the market and is anticipated to witness prominent growth over the projected period. The thriving disposable income and busy lifestyles have boosted the demand for refrigerated food items such as beverages, fruits, vegetables, and frozen meals. The rapid rise in the demand for such products owing to their convenience and an effective alternative for fresh products is boosting the growth of refrigeration packaging in the food & beverage sector.

KEY INSIGHTS

The report covers the following key insights:

• Recent Advancements in the Refrigeration Packaging Market


• Key Industry Trends


• Regulatory Landscape for the Refrigeration Packaging Market


• Key Industry Developments (Mergers, Acquisitions, and Partnerships)


• Impact of COVID-19 on the Market

REGIONAL ANALYSIS

Based on region, the refrigeration packaging market has been studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is the dominating region of the global refrigeration packaging market. The region mainly includes establishments manufacturing frozen vegetables & fruits, frozen fruit juices, drinks, cocktails, and other frozen food products. The surging demand for frozen food products and the rising consumption of processed food products among the working population boosts the market growth in North America. The development of various food processing technologies, the expansion of food & pharmaceutical industries, and the rising demand for eco-friendly bags propel the Europe refrigeration packaging market growth.

The Asia Pacific market will witness noteworthy growth during the forecast period. The rapidly growing pharmaceutical sector and the demand for flexible bags, pouches, and films for packaging pharmaceutical products, meat & seafood products, and medical devices drive regional growth. Latin America will experience steady growth due to the region's growing food & beverage sectors. Middle East & Africa's refrigeration packaging market will grow moderately over the coming years.

KEY PLAYERS COVERED

The report includes the profiles of key players such as Amcor, Ball Corporation, Crown Holdings, Graphic Packaging International, Pactiv LLC, Sealed Air Corporation, Sonoco Products Company, WestRock, Rutan Poly Industries, Inc., and Great American Packaging, among others.

KEY INDUSTRY DEVELOPMENTS

• In August 2023, Ranpak introduced an innovative and sustainable thermal protection liner. The RecyCold climaliner keeps food products cold for up to 48 hours and reduces food waste and other associated costs.


• In February 2023, C-P Flexible Packaging announced the collaboration with Northwest Frozen, LLC, which launched high-performance packaging for extended shelf-life refrigerated meals.


• In August 2022, Parkside announced the collaboration with Iceland and launched paper recyclable packaging specifically for the supermarket’s Northcoast range of frozen seafood.


• In December 2021, Ranpak declared the expansion of its total solution for cold chain packaging by acquiring a manufacturer of cool packs, Recycold Cool Solutions BV.


• In February 2021, ProAmpac introduced ProActive Recyclable R-2000F material in its pre-made pouches and film for high-speed fill/form/seal lines. The products offer outstanding cold-temperature performance and display features in the freezer case.