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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.
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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.
List of Key Players Profiled Cold Chain Packaging:
Further Report Findings
Table of Segmentation
Value (USD Billion)
By Product Type; By Application; and By Geography
By Product Type