As per the published report, the global cold chain packaging market size is estimated to arrive at USD 63.1 billion by 2027. It is projected to develop with 19.4% CAGR from 2020 to 2027.
The important drivers causing the enlargement of the market for cold chain packaging comprises a considerable advancement in the requirement for cold chain packaging way out from the pharmaceutical manufacturing. The transportation as well as the business of the temperature susceptible medications, drugs, along with the test samples is considerably rising, between the current Covid-19 pandemic.
The packaging market together with the pharmaceuticals market is expected to observe major expansion. The general growth of the market is strongly affected by the elevated global demand for the unpreserved items along with the supply of frozen and fresh food items.
The rising attractiveness regarding e-commerce like a means for buying the fresh supplies propels the expansion of the market. The increasing handling of the mobile apps, in addition to e-commerce websites, has facilitated clients to purchase every day meals, fresh vegetables, dairy goods, and preserved foodstuff by ordering it online. Digital selling has made possible the clients to obtain goods from anyplace they wish for.
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Further key findings from the report suggest:
• The companies are growing their provincial attendance by way of mergers & acquisitions, as well as joint ventures via setting up a system of distributors, positioned in diverse areas. Such as, Pelican Products, Inc. contain an association of traders situated in Europe (DS Smith), South America (Nat Bio), and Asia Pacific (Pharmaserv Express, Giddi Pharma, and others),
• The rising stress on low global warming potential (GWP) gases and low ozone depletion potential (ODP) is anticipated to increase demand for usual as well as inorganic refrigerants like carbon dioxide and ammonia
• The governments of various nations are stressing to make available sufficient medical stock to the healthcare amenities, throughout the ongoing COVID-19 pandemic. By way of the growing daily tests, the transportation of blood samples is, moreover, escalating. Thus raising the necessity for the dependable temperature controlled packaging resolution, in the healthcare as well as pharmaceutical industry.
• Due to the escalating demand for the fresh fruits and vegetables from the global customers, the fruits & vegetable sector is anticipated to develop by major, above 20% CAGR, during the forecast period.
• The advancement of the smart technologies, like smart temperature-controlled packaging solutions or smart boxes, which offers instantaneous information on the deviation in air pressure, temperature, and humidity, is estimated to impel the potential expansion of the cold chain packaging market
Million Insights segmented the global cold chain packaging market based on Application, Material, Product, and Region.
Cold Chain Packaging Product Outlook (Revenue, USD Million, 2016 - 2027)
• Insulated Container & Boxes
• Cold Packs
• Temperature Controlled Pallet Shippers
Cold Chain Packaging Material Outlook (Revenue, USD Million, 2016 - 2027)
• Insulating Material
• Expanded Polystyrene (EPS)
• Polyurethane rigid foam (PUR)
• Vacuum Insulated Panel (VIP)
• Cryogenic Tanks
• Carbon Dioxide (CO2)
Cold Chain Packaging Application Outlook (Revenue, USD Million, 2016 - 2027)
• Fruits & Vegetables
• Fruit & Pulp Concentrates
• Dairy Products
• Ice Cream
• Fish, Meat & Seafood
• Processed Food
• Blood Banking
• Bakery & Confectionaries
Cold Chain Packaging Regional Outlook (Revenue, USD Million, 2016 - 2027)
• North America
• The U.S.
• The U.K.
• Asia Pacific
• South America
• Middle East
Various companies for cold chain packaging market are:
• Pelican Products, Inc.
• Cryopak A TCP Company
• Cold Chain Technologies
• Sonoco Thermo Safe
• Cascades Inc.