Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, the Global Cold Chain Packaging Refrigerants Market Size is Expected to Grow from USD 1.51 Billion in 2023 to USD 3.29 Billion by 2033, at a CAGR of 8.10% during the forecast period 2023-2033.
Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the Global Cold Chain Packaging Refrigerants Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Gel Packs and Foam Packs), By Application (Pharmaceuticals, Food, and Industrial), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.
Cold chain packaging refrigerants safeguard delicate goods like medications and vaccines by controlling the temperature in passive containers like polyurethane boxes. Temperature-sensitive products, including medicines, biologics, and perishable foods, depend on the worldwide cold chain packaging refrigerants market to maintain the proper temperature range during storage and transit, guaranteeing product efficacy, safety, and quality. The market includes refrigerant choices such as gel packs, dry ice, phase change materials, and specialty cooling agents that are utilized in the packaging and cold chain logistics industries for temperature control and thermal insulation. These products are used in manufacturing, distribution, and adoption. The market for cold chain packaging refrigerants is expected to grow due to the increasing demand for biopharmaceutical products, particularly in emerging markets like Nigeria and South Sudan. For instance, this initiative was put into place by India's Ministry of Food Processing Industries to offer integrated cold chain infrastructure from the farm gate to the end user. Pre-cooling, multi-temperature cold storage, packing facilities, and reefer vans are only a few of the components covered by the program. The growing elderly population and increased understanding of the benefits of packaging refrigerants are also expected to drive market growth. In recent years, there has been a sharp increase in demand for biopharmaceutical products, including medications, vaccines, blood, and more. For instance, increased government funding in high-risk areas has resulted in a surge in the supply of polio vaccines in African nations like Nigeria. However, the global cold chain packaging refrigerants market faces challenges due to high costs, operational expenses, and price sensitivity, but is driven by increasing demand, technological advancements, and consumer awareness.
The gel packs segment is predicted to hold the highest market share through the forecast period.
Based on the product type, the cold chain packaging refrigerants market is classified into gel packs and foam packs. Among these, the gel packs segment is predicted to hold the highest market share through the forecast period. Gel packs are widely used in the food and beverage and pharmaceutical industries because of their non-toxic makeup, effective temperature control, adaptability, reusability, safety, affordability, and convenience of use.
The food segment is anticipated to hold the highest market share during the projected timeframe.
Based on the application, the cold chain packaging refrigerants market is divided into pharmaceuticals, food, and industrial. Among these, the food segment is anticipated to hold the highest market share during the projected timeframe. Refrigerants used in cold chain packaging are essential for maintaining food items' quality and safety during storage and transit. Large end-use sectors like healthcare and pharmaceuticals have been implementing more environmentally friendly goods and services into their everyday logistics operations. For instance, the 2020 Biopharma Cold Chain Logistics Sustainability Survey by Pelican BioThermal revealed that 66% of respondents consider sustainability important, 45% consider it in cold chain purchasing decisions, and 80% prioritize choosing packaging that promotes sustainability, highlighting the importance of innovation.
Asia Pacific is estimated to hold the largest share of the cold chain packaging refrigerants market over the forecast period.
Asia Pacific is estimated to hold the largest share of the cold chain packaging refrigerants market over the forecast period. The Asia Pacific market is expanding due to the rise of the biopharmaceutical sector in China, India, Japan, and South Korea as well as the expanding Indian population. This growth is also being aided by efficient food and pharmaceutical product distribution and management, such as China's investments in cold chain logistics.
North America is predicted to have the fastest CAGR growth in the cold chain packaging refrigerants market over the forecast period. This is due to the growing use of cold chain packaging refrigerants in the distribution of different products. Furthermore, the market will expand due to the region's high need for refrigerants.
Competitive Analysis
Major key players in the cold chain packaging refrigerants market include Cold Chain Technologies, Blowkings, Sonoco Thermosafe, THERMOCON, Sofrigam, Creative Packaging Company, Nordic Cold Chain Solutions, Tempack, Cryopak, Coolways, Pelton Shepherd Industries, Cryolux America, and the pack and Others.
Recent Development
Key Target Audience
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the cold chain packaging refrigerants market based on the below-mentioned segments:
Global Cold Chain Packaging Refrigerants Market, By Product Type
Global Cold Chain Packaging Refrigerants Market, By Application
Global Cold Chain Packaging Refrigerants Market, By Regional Analysis
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