The cold chain packaging refrigerants market is projected to grow from USD 2.01 billion in 2025 to USD 4.28 billion by 2034, driven by a 7.7% CAGR. The market covers segments like Gel Packs, Dry Ice, and Foam Bricks, serving industries such as Food & Beverage, Pharmaceuticals, and Industrial. Key regional insights include North America 37% market share in 2021, leading advancements in cold chain infrastructure and the shift towards sustainable refrigerants. Companies like Cold Chain Technologies, Sonoco Thermosafe, and Cryopak dominate this space.
Key Players Shaping the Cold Chain Packaging Refrigerants Market: Industry Leaders and Innovators
Recent Developments in the Cold Chain Packaging Refrigerants Market: Innovations and Strategic Advancements
- In March 2021, CHARLOTTE, N.C., announced a joint venture agreement with Watsco to buy Temperature Equipment Corporation (TEC), the Midwest largest Carrier distributor.
- In July 2021, Elanpro, one of India leading Commercial Refrigeration firms, recently merged with Icold Refrigeration Pvt. Ltd., a Cold storage company.
- In March 2022, Cold Chain Technologies, a portfolio company of Aurora Capital Partners and a leading global provider of thermal packaging solutions for the transport of temperature-sensitive products in the life sciences industry, announced today the acquisition of packaging Technology Group, an established manufacturer of sustainable, curbside-recyclable thermal packaging solutions in the life sciences industry.
- In July 2022, NewCold announced the acquisition of Frigoservice in Lisbon, expanding its service in a new market.
- In November 2023, Tower Cold Chain announced a new collaboration with ELPRO, a global pioneer in advanced monitoring systems for the pharmaceutical and life sciences industries.
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