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The global cold chain packaging market size is expected to exhibit strong growth by reaching USD 47.46 billion by 2029. 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, 2022-2029” observes that the market size in 2021 stood at USD 20.89 billion and reached USD 22.97 billion by 2022. The market exhibited a CAGR of 10.9% during the forecast period. The development of products and services and the adoption of recyclable materials may elevate market progress.
Ranpack Expanded its Cold Chain Offerings with the Acquisition of Recycold Cool Solutions BV
Ranpack expanded its cold chain offerings by acquiring Recycold Cool Solutions BV in December 2021. The companies merged to offer sustainable packaging solutions for the cold chain industry. This strategy may enable the company to enhance its product portfolio.
Restrictions on Trade to Impede Market Progress
This market was negatively affected during the COVID-19 pandemic due to trade restrictions. The sudden spike in COVID-19 patients led to the closure of manufacturing activities, thereby hindering the supply chain. Furthermore, transport restrictions resulted in raw material shortages. However, companies adopt automated production techniques, advanced sanitization methods, and reduced capacities to enhance sales. These factors may drive the industry’s progress.
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Strong Demand from the Pharmaceutical Industry to Foster Industry Progress
Cold chain packaging involves the packaging and shipping of products requiring specific temperatures. Strong demand for the product from the pharmaceutical industry may enhance adoption. The packaging method is used to transport medicines, vaccines, injections, and other items requiring certain temperatures. As per the information provided by the Pharmaceutical Commerce Analysis of IQVIA, 2018, cold chain packaging accounts for 18% of total investments in pharmaceutical products. In addition, increasing pharmaceutical product trade may enhance packaging technique adoption. These factors may boost the cold chain packaging market growth.
Prominent Players Employ Acquisitions to Elevate Brand Image
Prominent companies operating in the market adopt acquisitions to boost their brand image. For example, CSafe Global acquired Softbox Systems in 2021. This strategy was undertaken to dominate the industry as a supplier of cold packaging solutions to pharmaceuticals. Both companies shall offer one-stop solutions for temperature-sensitive products. Further, players adopt partnerships, mergers, product launches, and acquisitions to dominate their market position globally.
Key Industry Development
List of Key Players Profiled in the Report
Further Report Findings
Report Scope & Segmentation
Value (USD Billion)
By Product Type, Application, and Geography
By Product Type