Covid-19 impact on North America And Europe Cold Chain Packaging Materials Market Size to surge at 7.1% CAGR is expected to reach $21.2 Billion in 2025

The North America and Europe cold chain packaging materials market size is expected to reach USD 21.2 billion by 2025, accelerating at a CAGR of 7.1% over the forecast period, according to a new report by Grand View Research, Inc. Rising demand for perishable foods including meat & seafood and fruits & vegetables while maintaining their quality is expected to propel the demand for cold chain packaging materials in North America and Europe.

A wide range of pharmaceuticals, vaccines, bioengineered drugs, and biologics are traded through temperature-controlled distribution channels. Extended geographic coverage, stringent regulations, increasing risk of damage to products, and intense cost pressure are driving the demand for cold chain packaging materials in pharmaceuticals and life science industries.North America and Europe cold chain industry is witnessing growth on account of the rising demand for premium quality food products and advanced temperature-sensitive pharmaceuticals.

Major players in the market position themselves through product and process innovation. Modern technologies related to manufacturing of cold chain packaging materials, including recycled non-woven textiles and wood fibers, along with developed technologies for recycling these products to reduce carbon footprint have a major impact on the North America and Europe cold chain packaging materials market growth. In addition, technological innovations to improve product safety, low-cost storage & distribution, and self-promotion are driving the demand for cold chain packaging materials in North America and Europe.

The market is characterized by the presence of a large number of manufacturers in North America and Europe. Development of international cold chains, increasing infrastructural investments, and export promotion strategies of the organizations are expected to boost the competition among the manufacturers over the forecast period. Major players are involved in manufacturing biodegradable, reusable, compostable, or easily recyclable materials. They focus on real-time data monitoring and advanced logistics system to gain a share in the market.

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www.grandviewresearch.com/industry-analysis/north-america-europe-cold-chain-packaging-materials-market

Further key findings from the report suggest:

• Synthetic materials segment accounted for a revenue share of 62.9% in the market for cold chain packaging materials in North America and Europe in 2018. This can be attributed to their durability and ability to retain high temperature as compared to eco-friendly natural packaging solutions
• Recycled non-woven textiles segment in the market for cold chain packaging materials in North America and Europe is expected to grow at a CAGR of 8.7% from 2019 to 2025. This can be attributed to cost-effective, lightweight, and environment-friendly characteristics of packaging materials such as cotton, denim, and wool
• Cold chain packing solutions in pharmaceutical industry accounted for USD 2.5 billion in 2018 on account of stringent temperature requirements for products such as vaccines, serums, tissues, and blood
• The packaging solutions market in Europe is expected to grow at a CAGR of 7.4% over the forecast period on account of extended export transactions of pharmaceutical products and meat & seafood to Asian countries.