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Cold Chain Packaging Market Size to Reach USD 39.45 Billion by 2027; Usage of Reusable Pallet & Parcel Delivery Bins to Spur Growth, Says Fortune Business Insights™

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Pune, Nov. 23, 2020 (GLOBE NEWSWIRE) — The global cold chain packaging market size to gain traction from the rising adoption of reusable cold chain pallet and parcel delivery bins. These are helping multiple pharmaceutical manufacturers in transporting high-value products efficiently worldwide. This information is given by Fortune Business Insights™ in a new study, 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, 2020-2027.” The study further mentions that the cold chain packaging market size was USD 17.79 billion in 2019 and is projected to reach USD 39.45 billion by 2027, exhibiting a CAGR of 10.7% during the forecast period.
High Demand for Medicines & Food to Spur Growth amid COVID-19 PandemicThe emergence of the COVID-19 pandemic has disrupted supply chains of a wide range of industries across the globe. Cold chain packaging, however, was considered to be an essential service by regulatory bodies of various countries. The high demand for food and medicines amid this pandemic is set to bolster growth. Numerous cold chain associations are taking the necessary precautions to battle the current situation. Our authentic reports would help you gain more insights into the market. You can select the strategy of your choice to generate more sales.
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List of top players profiled in the cold chain packaging market are:Cold Chain Technologies (USA)Pelican BioThermal (USA)Sonoco ThermoSafe (USA)Softbox Systems (UK)Sealed Air Corporation (USA)CREOPACK (Canada)Sofrigam (France)Intelsius (UK)Nordic Cold Chain Solutions (USA)Tempack (Spain)Cryopak (USA)
Drivers & RestraintsIncreasing Usage to Pack Temperature-Sensitive Pharmaceutical Products will Aid GrowthVarious cold chain packaging products are experiencing high demand from the pharmaceutical industry. They are extensively used to pack temperature-sensitive pharmaceutical products and ingredients. The products or drugs can often lose their properties if exposed to high temperatures. Hence, they require special temperature-controlled transportation systems and packaging for preserving their functional and chemical values. These factors are expected to accelerate the cold chain packaging market growth in the coming years. However, the high cost associated with cold chain packaging solutions may hamper their demand.
SegmentPallet Shippers Segment to Lead Stoked by Rising Usage in Transporting Farm ProduceBased on product type, the pallet shippers segment generated 36.6% in terms of cold chain packaging market share in 2019. The segment is anticipated to retain its leading position throughout the forthcoming years backed by their increasing usage in universal and seasonal temperature protection coverage. Besides, they are adopted for controlled, refrigerated, or frozen room temperature shipments, specifically for transporting pharmaceutical drugs, processed agricultural products, and farm produce.
This Report Contains the Following:Tracking of competitive developments, such as expansions, mergers & acquisitions, collaborations, partnerships, agreements, and new product developments.Market size with respect to five significant regions, namely, Europe, Asia Pacific, Latin America, North America, and the Middle East & Africa.In-depth analysis of the competitive landscape for renowned players.Detailed information about micro markets with respect to contributions, prospects, and trends.
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Regional AnalysisRising Development of Cold Storage Projects to Favor Growth in Asia PacificGeographically, Europe procured USD 5.85 billion in terms of revenue in 2019. It would grow rapidly owing to the major contributions of Spain, Italy, the U.K., France, and Germany. Based on application, the food segment held 58.7% in the German market on account of the increasing import activities by this country. It mainly imports milk products, fish, meat, vegetables, and fruits.Asia Pacific, on the other hand, is set to be the fastest-growing region in the coming years fueled by the higher usage of cold chain packaging solutions and the increasing development of cold storage projects in the region. In North America, the market for cold chain packaging is expected to grow significantly because of the presence of a well-established supply chain and technological advancements in the U.S.
Competitive LandscapeKey Players Focus on Unveiling Eco-friendly Products & Acquisition Strategy to Cater to Consumer DemandThe market for cold chain packaging is fragmented with a wide range of local and global companies. Owing to the rising competition from local companies, the global ones are aiming to broaden their consumer base by launching novel cold chain packaging products.
Below are the two latest industry developments:October 2020: Softbox unveiled Tempcell™ ECO, its new innovation in the U.S. This temperature control parcel shipper is 100% recyclable. It contains a plastic-free design and corrugated cardboard.February 2020: Pelican BioThermal acquired NanoCool to surge its BioThermal product portfolio. The addition of the latter’s customers, product technologies, and segments would enable Pelican to broaden its access to last-mile players, laboratories, and patients.
Browse Detailed Summary of Research Report with TOC:https://www.fortunebusinessinsights.com/cold-chain-packaging-market-102829
Detailed Table of Content:IntroductionResearch ScopeMarket SegmentationResearch MethodologyDefinitions and AssumptionsExecutive SummaryMarket DynamicsMarket DriversMarket RestraintsMarket OpportunitiesKey TrendsKey InsightsLatest Technological DevelopmentsKey DevelopmentsInsights on Regulatory ScenarioPORTER’s Five Forces AnalysisGlobal Top 10 Pharmaceuticals Market OverviewGlobal Top 10 Food Market OverviewCOVID-19 Impact AnalysisSupply Chain ChallengesSteps Taken by Companies to combat COVID-19Potential Opportunities due to COVID-19 OutbreakTOC Continued…!
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About Us:Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.Contact Us:Fortune Business Insights™ Pvt. Ltd.308, Supreme Headquarters,Survey No. 36, Baner,Pune-Bangalore Highway,Pune – 411045, Maharashtra, India.Phone:US: +1 424 253 0390UK: +44 2071 939123APAC: +91 744 740 1245Email: sales@fortunebusinessinsights.com

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