The global cold chain packaging market size is expectedto gain momentum by reaching USD 43.40 billion by 2028 while exhibiting a CAGR
of 10.8% between 2021 to 2028. In its report titled “Cold Chain PackagingMarket, 2021-2028.”, Fortune Business Insights mentions that the marketstood at USD 19.36 billion in 2020.
The demand for complex biological-basedmedicines, vaccines, hormones, and complex proteins has increased due to the
rising prevalence of chronic diseases in recent years. Besides their storage,
the shipments require cold chain refinements for transportation purposes at
optimum temperature. Therefore, the demand for the product is expected to surge
in the forthcoming years.
COVID-19 Impact
The pandemic has put the pharma andfood industry under immense pressure. These sectors were put under essential
services by the governments. Thus, the role of the cold supply chain became
important to maintain their quality. However, the market suffered a moderate
loss due to cross-border restrictions and disruptive logistic services during
the lockdown. For instance, a report published by the United States Department
of Agriculture GAIN report, in 2020, states that leading milk producers in
Europe such as Germany and France were negatively impacted in terms of
production as well as consumption. This in turn affected the cold chain
logistics, as milk is one of the key materials of cold chain logistics.
Source:
Market Segmentation:
Based on product type, the market forcold chain packaging is divided into EPS containers, PUR containers, pallet
shippers, vacuum insulated panels, and others.
- Based on the product type, the pallet shippers segment held a market share of about 36.40 % in 2020. The segment is expected to
experience considerable growth backed by its large shipping capacity
systems that are effective as well as reusable. Additionally, these
provide universal temperature protection coverage, thereby giving it an
advantage over the other cold packaging solutions.
By its application the market isdivided into, Finally, based on region, the market is categorized into Europe,
North America, Asia-Pacific, Latin America, and the Middle East and Africa.
What does the Report Provide?
The global market report provides adetailed analysis of several factors such as the key drivers and restraints
that will impact growth. Additionally, the report provides insights into the
regional analysis that covers different regions, contributing to the growth of
the market. It includes the competitive landscape that involves the leading
companies and the adoption of strategies by them to introduce new products,
announce partnerships, and collaborate that will further contribute to the
market growth.
