Cold Chain Packaging Refrigerants Market to Reach $1,991.4 Million by 2027; Rising Need for Advanced Cold Refrigerants Solutions to Favor Growth

The global cold chain packaging refrigerants market size is expected to reach USD 1,991.4 million by 2027. The increasing development of customized sustainable refrigerants products by companies to cater to the needs of customers will enable speedy expansion of the market, mentioned in a report, titled “Cold Chain Packaging Refrigerants Market Size, Share & COVID-19 Impact Analysis, By Product type (Gel Packs, Foam Bricks, and Others), By Application (Pharmaceuticals, Food, and Industrial) and Regional Forecast, 2020-2027.” The market size stood at USD 1,093.8 million in 2019 and is expected to exhibit a CAGR of 8.0% between 2020 to 2027.

Acquisition of TP3 Global by Softbox to Strengthen Growth of the Market

Softbox, a major leader and provider of cold chain packaging systems announced the acquisition of TP3 Global, the world’s leading manufacturers of thermal protection covers for the pharmaceutical industry and globally recognized for its ‘SilverSkin’ brand with operations in the EMEA, South Asia, Asia Pacific, and American region. The integration of industry-leading passive temperature control packaging systems, temperature sensitive products, and thermal protection products will reinforce the establishment of the companies. The increasing requirements for cold chain packaging solutions will urge companies to expand their capacity, which, in turn, will boost the growth of the market in the forthcoming years.

Moreover, the combined capabilities, geographic coverage, and client relationships through this joint venture can support the steady distribution of temperature-controlled solutions, thus enabling the growth of the market. In addition, the combined outstanding technical capabilities can enrich business and cater to the demand for sensitive product protection solutions for various industries.

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

https://www.fortunebusinessinsights.com/cold-chain-packaging-refrigerants-market-104287

Adoption of Sustainable Solutions to Propel Global Market

The increasing innovation and advancement in the chain packaging refrigerants will bolster the healthy growth of the market. The growing adoption of sustainable practices and solutions by pharmaceutical and healthcare industries will encourage the healthy growth of the market. According to the 2020 Biopharma Cold Chain Logistics Sustainability Survey conducted by Pelican Biothermal, 66% of the industry respondents agreed that sustainability is important for their organization. 45% considered the sustainability factor into cold chain purchasing decisions and 80% considered choosing cold chain packaging that advances sustainability for their organization as extremely vital if combined.

Besides, the introduction of sustainable and eco-friendly refrigerants by companies can promote the growth of the market in the forthcoming years. For instance, in May 2019, Nordic Cold Solutions introduced the world’s first drain-friendly gel pack refrigerant. These gel packs can completely be reused or disposed of as per the customer’s discretion.  

Development of Innovative Product Solutions by Major Companies to Consolidate Business

The market is dominated by major companies such as Cold Chain Technologies (USA), Blowkings (India), and others. The focus on customized and innovative product solutions among manufacturers to serve the food & beverage and pharmaceutical industries will reinforce lucrative trade openings in the near future. Moreover, the adoption of various strategies such as acquisitions, product launches, and partnerships by prominent companies can have a profound effect on the market.

The Report Lists the Key Players in the Cold Chain Packaging Refrigerants Market:

•  Cold Chain Technologies (USA)


•  Blowkings (India)


• Sonoco Thermosafe (USA)


• THERMOCON (Germany)


• Sofrigam (France)


• Creative Packaging Company (USA)


•  Nordic Cold Chain Solutions (USA)


• Tempack (Spain)


• Cryopack (USA)


• Coolways (The Netherlands)


•  Pelton Shepherd Industries (USA)


• Cryolux America (USA)


• Therpack (USA)


• Sancell (Australia)

Further Report Findings:

• Regional Analysis: The market in Europe is expected to dominate the global market during the forecast period owing to the increasing demand for perishable goods. The increasing consumption of frozen foods and packaged ready meals will bolster the healthy growth of the market in the region.


• Leading Segment: The food industry is expected to account for the lion’s share in the global market owing to the growing demand for refrigerants to regulate the temperature range during food transportation. The pharmaceutical segment is expected to hold a significant share owing to the increasing trade of medicines, vaccines, and other medical drugs.

The Cold Chain Packaging Refrigerants Market is Segmented into: