Request Sample
Request Methodology
Description
Cooler Box Market Size is expected to reach USD 4,852.9 million in 2021, with a strong CAGR of 10.3 percent expected from 2022 to 2028. The cooler box market is growing due to expansion in the pharmaceutical sector, continuous COVID-19 vaccination programs, and technological developments in the cooler box business to ship packaged and dairy products, fresh fruits, vegetables, and other perishable food goods. The increase in the need for temperature control to prevent food loss and potential health hazards is one of the main aspects driving the cooler box market. Additionally, the high usage for the transportation of processed and fresh fruits, vegetables, dairy products, and other perishable food products, growth in population, rapid urbanization, change in lifestyle, and research and development activities positively affect the cooler box market. Furthermore, increased demand for insulated packaging, technological advancements, and growth in the organized retail sector extends profitable opportunities to the cooler box market players in the forecast period. The reusable cooler box segment is expected to develop at the fastest CAGR during the projection period. In 2021, the reusable cooler box segment held the largest proportion of the cooler box market. Reusable cooler boxes on the market are becoming more durable on the outside, with hard shells replacing the cardboard and foam of disposable cooler boxes. These cooler boxes are primarily utilized in the pharmaceutical business, where preserving product temperature for more extended periods is crucial.
Recent Market Developments:
In April 2021, B Medical Systems, the Luxembourg-based international leader in medical-grade refrigeration and vaccine cold chain equipment, announced that it is partnering with Cold Chain Technologies, one of the most comprehensive providers of reusable and single-use thermal packaging solutions for the shipment of temperature-sensitive material, to bring end-to-end thermal shipping and medical storage solutions to the life sciences market. Under the agreement, Cold Chain Technologies will be offering B Medical Systems Ultra-low freezers, Laboratory/Pharmacy Refrigerators, Laboratory Freezers, and medical transport boxes to their customers.
In March 2022, Cold Chain Technologies, LLC a portfolio company of Aurora Capital Partners and a leading global provider of thermal packaging solutions for the transportation of temperature-sensitive products for the life sciences industry, announced that it has acquired Packaging Technology Group, LLC a leading provider of sustainable, curbside-recyclable thermal packaging solutions for the life sciences industry
Reviews
There are no reviews yet.