Cold Chain Packaging Market Size Analysis, Industry Share, Growth, Trends, Segmentation, and Regional Demand Forecast by 2027

 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.

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 packaging 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)

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 market growth in the coming years. However, the high cost associated with cold chain packaging solutions may hamper their demand.

Browse Complete Summary of research Report: https://www.fortunebusinessinsights.com/cold-chain-packaging-market-10282

Segment

Pallet Shippers Segment to Lead Stoked by Rising Usage in Transporting Farm Produce

Based on product type, the pallet shippers segment generated 36.6% in terms of cold chain packaging market share in 2019. The segment is anticipated to retain its leading position throughout the forthcoming years backed by their increasing usage in universal and seasonal temperature protection coverage. Besides, they are adopted for controlled, refrigerated, or frozen room temperature shipments, specifically for transporting pharmaceutical drugs, processed agricultural products, and farm produce.

Regional Analysis

Rising Development of Cold Storage Projects to Favor Growth in Asia Pacific

Geographically, Europe procured USD 5.85 billion in terms of revenue in 2019. It would grow rapidly owing to the major contributions of Spain, Italy, the U.K., France, and Germany. Based on application, the food segment held 58.7% in the German market on account of the increasing import activities by this country. It mainly imports milk products, fish, meat, vegetables, and fruits.

Asia Pacific, on the other hand, is set to be the fastest-growing region in the coming years fueled by the higher usage of cold chain packaging solutions and the increasing development of cold storage projects in the region. In North America, the market for cold chain packaging is expected to grow significantly because of the presence of a well-established supply chain and technological advancements in the U.S.