The global cold chain packaging market size to gain traction from the rising adoption of reusable cold chain pallet and parcel delivery bins. These are helping multiple pharmaceutical manufacturers in transporting high-value products efficiently worldwide. This information is given by Fortune Business Insights™ in a new study, titled, “Cold Chain Packaging Market Size, Share & COVID-19 Impact Analysis, By Product Type (EPS Containers, PUR Containers, Pallet Shippers, Vacuum Insulated Panels and Others), By Application (Pharmaceuticals, Food and Industrial), and Regional Forecast, 2020-2027.” The study further mentions that the cold chain packaging market size was USD 17.79 billion in 2019 and is projected to reach USD 39.45 billion by 2027, exhibiting a CAGR of 10.7% during the forecast period.
High Demand for Medicines & Food to Spur Growth amid COVID-19 Pandemic
The emergence of the COVID-19 pandemic has disrupted supply chains of a wide range of industries across the globe. Cold chain packaging, however, was considered to be an essential service by regulatory bodies of various countries. The high demand for food and medicines amid this pandemic is set to bolster growth. Numerous cold chain associations are taking the necessary precautions to battle the current situation. Our authentic reports would help you gain more insights into the market. You can select the strategy of your choice to generate more sales.
Owing to the lockdown announced by the government agencies to curb the spread of the novel coronavirus, several industries have been on a standstill with zero operational activities. However, a collective effort from the government, as well as the industries is anticipated to bring the economy back on track and aid in resuming industrial activities.
Cold chain packaging or temperature-controlled packaging is adopted across several industries such as pharmaceuticals, food & beverage, and other packaging sectors. These solutions ensure that the product being transported maintain a specific temperature to prevent from external damages. In addition to this, the pacakaging solutions involve three primary components that include storage, transport equipment, and trained personnel.
List of top players profiled in the cold chain packaging market are:
- Cold Chain Technologies (USA)
- Pelican BioThermal (USA)
- Sonoco ThermoSafe (USA)
- Softbox Systems (UK)
- Sealed Air Corporation (USA)
- CREOPACK (Canada)
- Sofrigam (France)
- Intelsius (UK)
- Nordic Cold Chain Solutions (USA)
- Tempack (Spain)
- Cryopak (USA)
Browse Complete Summary of research Report: https://www.fortunebusinessinsights.com/cold-chain-packaging-market-102829
Drivers & Restraints
Increasing Usage to Pack Temperature-Sensitive Pharmaceutical Products will Aid Growth
Various cold chain packaging products are experiencing high demand from the pharmaceutical industry. They are extensively used to pack temperature-sensitive pharmaceutical products and ingredients. The products or drugs can often lose their properties if exposed to high temperatures. Hence, they require special temperature-controlled transportation systems and packaging for preserving their functional and chemical values. These factors are expected to accelerate the cold chain packaging