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Cold Chain Packaging Market to Exhibit 10.8% CAGR by 2028; Increasing Application in Pharmaceutical Products Transportation to Augment Market Growth

July 22, 2021 | Chemicals & Materials

The global cold chain packaging market size is expected to gain momentum by reaching USD 43.40 billion by 2028, owing to the extensive usage of such packaging in the pharmaceutical industry. Fortune Business Insights in its report 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, 2021-2028.”, mentions that the market stood at USD 19.36 billion in 2020 and is projected to exhibit a CAGR of 10.8% during the forecast period. 


Sonoco Thermosafe Collaborates with ACL Airshop to Strengthen their Market Prospects


Sonoco Thermosafe, a leading global provider of cold packaging for healthcare and life sciences, signed an agreement with ACL Airshop, a leader in cargo equipment and logistic solutions for various airlines. This agreement is being undertaken to repair ThermoSafe Peayasus ULD bulk temperature-controlled containers as these containers are the world’s first passive bulk temperature used in the pharmaceutical industry. Additionally, the container is Federal Aviation Administration Approved and it provides real-time data and temperature. 


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/cold-chain-packaging-market-102829


Growing Demand for Cold Chain Solutions in Pharmaceutical Industry to Drive Market Growth


The use of cold chain solutions is extensive in the pharmaceutical industry for temperature-sensitive drugs, vaccines, and other products. Pharmaceuticals packaging includes containers, crates, boxes used for vaccines, infusions/injections, biologics, hormones, insulin, antibiotics, cellular therapies These products lose their properties if not stored at optimum temperature. Thus to keep its quality intact, the pharma sector drives cold chain packaging market growth. According to a report by Pharmaceutical Commerce Analysis of IQVIA, 2018, cold chain transportation and packaging costs account for around 18% of the total pharma spend. Moreover, the dramatic rise of cold chain providers is expected to positively promote the market in upcoming years. 


Key Players Focus on Product Launch to Brighten Their Market Prospects


The market is experiencing healthy competition among key players focusing on developing and introducing advanced cold chain packaging solutions to expand their product portfolio and further boost sales revenues. Additionally, the other major companies are striving to maintain their presence by adopting strategies such as merger and acquisition, partnership, and collaboration that will contribute to the growth of the market in the forthcoming years.


Industry Development



  • April 2020: Cryopak launched a new recyclable and sustainable cold packaging line named Solversa. This product is ready to replace other insulator packaging in the market. 


List of Key Players Profiled Cold Chain Packaging:



  • 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)


Further Report Findings



  • Europe is expected to hold the largest cold chain packaging market share during the forecast period. This is attributable to the increased import of food and beverages in Germany. The region stood at USD 6.40 billion in 2020.

  • In the Middle East countries, the market is expected to showcase a significant rise owing to their infrastructure and high-income generating businesses, and varying temperature profiles in the region. 

  • Based on product type, the pallet shippers held a market share of about 36.4% in 2020 and is expected to remain at the forefront during the forecast period. This is owing to the extensive utilization of these types of packaging solutions for their effectiveness and reusable nature.


Table of Segmentation














































  ATTRIBUTE



  DETAILS



Study Period



2017-2028



Base Year



2020



Forecast Period



2021-2028



Historical Period



2017-2019



Unit



Value (USD Billion)



Segmentation



By Product Type; By Application; and By Geography



By Product Type




  • EPS Containers

  • PUR Containers

  • Pallet Shippers

  • Vacuum Insulated Panels

  • Others



By Application




  • Pharmaceuticals

  • Food

  • Industrial 



By Geography




  • North America (By Product Type, By Application, By Country)

    • The U.S. (By Application)

    • Canada (By Application)



  • Europe (By Product Type, By Application, By Country)

    • Germany (By Application)

    • UK (By Application)

    • France (By Application) 

    • Scandinavia (By Application) 

    • Rest of Europe (By Application)



  • Asia Pacific (By Product Type, By Application, By Country)

    • China (By Application)

    • India (By Application)

    • Japan (By Application)

    • ASEAN (By Application)

    • India (By Application)

    • Rest of Asia Pacific (By Application)



  • Latin America (By Product Type, By Application, By Country)

    • Brazil (By Application)

    • Mexico (By Application)

    • Rest of Latin America (By Application)



  • The Middle East & Africa (By Product Type, By Application, By Country)

    • Middle East (By Application)

    • Africa (By Application)




Global Cold Chain Packaging Market
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  • 2017-2019
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