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. In its report titled “Cold Chain Packaging Market, 2022-2029.”, Fortune Business Insights mentions that the market stood at USD 19.36 billion in 2020.

Source: https://www.fortunebusinessinsights.com/cold-chain-packaging-market-102829

The demand for complex biological-based medicines, vaccines, hormones, and complex proteins has increased due to the rising prevalence of chronic diseases in recent years. Besides their storage, the shipments require cold chain refinements for transportation purposes at optimum temperature. Therefore, the demand for the product is expected to surge in the forthcoming years.