Cold Chain Packaging Market Scope and Opportunities Analysis 2023-2029
The global cold chain packaging market size is expected to 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 Packaging Market, 2021-2028.”, Fortune Business Insights mentions that the market stood at USD 19.36 billion in 2020.
The demand for complex biological-based medicines, 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 and food 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:
https://www.fortunebusinessinsights.com/cold-chain-packaging-market-102829
Market Segmentation:
Based on product type, the market for cold 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 is divided 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 a detailed 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.
