![]() ![]() For instance, in September 2021, Lifoam Industries LLC launched a new Bioflex technology-based insulated shipper. To garner market presence, key players strategically introduce new products in the global market. Further, it leads to the development of reliable supply chains and helps gain more profit margins. ![]() Advanced packaging possesses great potential to minimize miscellaneous losses. Thus, leading manufacturers associated with cold chain logistics providers are focusing on developing new products that can efficiently tackle the technical problems in cold chain transport. In cold chain logistics, temperature monitoring is an essential process to keep product quality intact. The rising trade of temperature-sensitive products, including food and pharmaceuticals, is pushing demand for cold packaging products for temperature monitoring. The type of packaging used to maintain sensitive products at suitable temperatures is termed cold chain packaging. Based on our analysis, the global market exhibited a decline of 3.0% in 2020 as compared to 2019. The global COVID-19 pandemic has been unprecedented and staggering, with cold chain packaging experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The global cold chain packaging market size was valued at USD 20.89 billion in 2021 and is projected to grow from USD 22.97 billion in 2022 to USD 47.46 billion by 2029, exhibiting a CAGR of 10.9% during the forecast period. ![]()
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