The cold chain packaging market was valued at USD 132.6 billion in 2019 and is expected to reach USD 346.3 billion by 2025, at a CAGR of 17.35% over the forecast period 2020 – 2025.
Cold Chain Packaging – A Market Overview and Forecast 2020 – 2025, This report presents a profound evaluation of basic elements of Cold Chain Packaging industry such as production scale and profit generation. Market driving factors, newly adopted technologies, latest business methodologies have been discussed in this report. The report also forecasts the potential of the market and reviews thorough analysis of vital segments and regional markets.
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Minimizing wastage of food and food produces in the logistics has been a challenge for the end-users and has been a factor that has driven the market. For instance, according to a report by YesBank, in 2018, India witnesses nearly 4.6-15.9% wastage in fruits and vegetables annually, due to lack of modern harvesting technologies and cold chain infrastructure.
– The rise in consumer demand for perishable food items, growth of international trade due to trade liberalization, and expansion of the organized food retail industry are some of the factors driving the growth of the market.
– Moreover, Online grocery shopping is gaining popularity in line with increasing penetration of the Internet and the subsequent rise in the number of tech-savvy consumers. For instance, sales of packaged food products are contributing significantly toward Amazon.com, Inc.s online grocery sales in the United States.
The cold chain packaging market is consolidated due to a few players are having a large share in the market. Some of the major players are Cold chain Technologies, Sonoco Thermosafe, Sofrigram, Softbox Systems, Cryopak, Sealed Air Corporation, DGP Intelsius LLC., Amcor Plc, among others.
– April 2019 – Softbox, a provider of temperature control packaging for the life science and logistics industries, introduced a new concept to bring IoT and connected digital transformation to the pharmaceutical and clinical trial cold chain distribution. Softbox is leveraging emerging technologies and incorporating them into its temperature control packaging systems for day-to-day cold chain distribution. These technologies can help make better and quicker decisions, reduce waste in the supply chain and ultimately provide pharmaceutical companies and patients with medications on time, and in the best condition possible.
Scope of the Report
A cold chain product is defined as any temperature-sensitive product, such as frozen foods, research samples, or pharmaceuticals. Cold chain packaging, is vital for maintaining the thermal integrity of temperature-sensitive products during transport. Cold chain packaging can use active or passive packaging methods. Active packaging configurations are usually leased containers that employ a power source, batteries or electricity, and a thermostat to control heating or cooling within the shipping container. Passive packaging configurations are manufactured containers that utilize insulated packaging such as polystyrene, polyurethane, or vacuum insulated panels and phase change materials (PCM) to maintain a desired temperature inside the shipping container.
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Furthermore, this study will help to solve the following issues:
- Cyclical dynamics-Report foresees dynamics of industries by using core analytical and unconventional market research approaches.
- Identifying key cannibalizes– Strong substitute of a product or service is that the most prominent threat. Report includes key cannibalizes of a market, by procuring marketing research. This helps in aligning new product development/launch strategies before.
- Spotting emerging trends– Report helps to identify upcoming hot market trends. Report also track possible impact and disruptions which a market would witness by a specific emerging trend.
- Interrelated opportunities–This report will allow making decisions based on data, thereby increasing the chances that the strategies will perform better.
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