The North American Insulated Shipping Container Market will register a CAGR of 6.72% during the forecast period. Storage containers are frequently protected against extreme temperature swings by insulating transport containers. Many different kinds of fruits and vegetables are grown utilizing organic methods all around the world. These packing materials are, therefore, widely employed to keep fruit fresh during transportation.
- To protect from infection, Chemicals, medicines, fresh vegetables, beverages, and frozen goods require precise temperature control, as the air entering and leaving the containers must be filtered. In this situation, insulation plays a significant role. By completely closing off a shipping container from the outside, it aids in maintaining the condition of the conveyed products.
- Since they are made to lower the risk of moisture considerably, thermal packing insulated shipping container liner kits are the most economical way to protect products in storage. Perishable commodities that mandatorily be transported at a steady temperature, such as food, beverages, and medicines, can also be preserved using liners.
- Expanded polystyrene (EPS) containers are among the most frequently used insulated transportation containers in the food and pharmaceutical industries. EPS coolers provide several benefits, including thermally insulating, lightweight, and affordable. Due to their negative environmental effects and lack of biodegradability, polystyrene foam products are prohibited in over 100 counties, which include Los Angeles, Portland, New York, and Washington, DC.
- The environment in which medicine is located significantly impacts how quickly it changes temperature. When left unprotected and exposed to heat or cold, a vaccination can leave the necessary temperature range within a short period. Because of these variances, the usage of insulated shipping containers is fueling market expansion.
- The market saw a sizable number of food products chilled in warehouses. For instance, the US Department of Agriculture reports that as of December 31, 2021, there were over 2.3 billion pounds of frozen vegetable cold held in warehouses in the US, followed by dairy goods (1,6 billion pounds) and frozen potatoes (1.0 billion pounds), among other things. The demand for insulated shipping containers is anticipated to rise due to this demand for frozen goods.
- With the outbreak of COVID-19, High-quality cold transport containers have become important in the transportation of pharmaceuticals, guaranteeing that pharmaceutical companies can overcome the many shipping obstacles and container makers are abiding by stringent regulatory standards for the benefit of the general population. The Food and Drug Administration and other regulatory authorities have strict rules governing pharmaceutical substances, goods, and the containers used to carry them.
Key Market Trends
Lifesciences and Pharmaceutical Segment Holds Significant Share
- In the United States, many temperature-sensitive medications are produced and shipped, including expensive, highly specialized cancer therapies and vaccines against infectious diseases. AS medication's demand and supply chain must be kept at a certain temperature to be safe and effective. Insulated shipping containers will therefore be crucial in preventing the loss of expensive drugs due to temperature variations.
- Rising demands for handling temperature-sensitive pharmaceuticals will fuel sales increase for insulated shipping containers. A growing regulatory emphasis on compliance with storage temperature standards will promote demand in medicine and medical applications.
- Due mostly to its investment in biomedical research, the United States has emerged as a global leader in drug discovery and development, with a sizable number of manufacturers. The demand for these containers is considerable and is expected to continue to rise with the increase of production in the U.S. and Canada, which have notable life sciences and pharmaceutical industries.
- For Instance, in November 2021 - OtterBox announced a thermally efficient Liviri container series, which aims to transform seasonal wine shipment into year-round, sustainable shipping. The new Liviri Vino 6-bottle hard-sided wine crates keep wine at safe temperatures for five days while transported by ground, even during the hottest and coldest months.
United States is Expected to Register Highest Growth Rate
- North America is considered One of the important markets for insulated shipping containers, with the United States making up a sizeable portion of that market. The substantial presence of numerous vendors, exports, and imports can be linked to the nation's great demand. U.N. Comtrade reports that the value of fresh, chilled, or frozen pork exported from the United States in 2021 was USD 5.96 billion, up USD 1.93 billion from 2015. The use of insulated shipping will see substantial prospects as a result of this expansion in export trade.
- Additionally, there are government laws in the nation. For instance, the Food and Drug Administration in the United States heavily regulates the industry of food-contact packaging. The rules are anticipated to encourage the use of insulated shipping containers in the nation because food is one of the most delicate things to move and store.
- The market is expanding, as seen by the announcement of a new USD 355 million bacon manufacturing facility made by Tyson Foods, Kentucky Governor Andy Beshear, and Bowling Green city leaders in February 2022. The 450 workers at the 400,000 square-foot plant, scheduled to debut in late 2023, will help meet the company's growing demand for its Jimmy Dean and Wright brands. These developments increase the demand for insulated shipping containers for moving food.
- The U.S. Department of Commerce's Census.gov website reports that e-commerce sales in the U.S. have been rising steadily for more than ten years, with notable gains in the two years prior. Total e-commerce sales in the U.S. increased by 14.3%, from USD 759.6 billion in 2020 to USD 870.7 billion in 2021. Such situations will increase demand for the necessary insulated transport containers.
North America Insulated Shipping Containers Market is slightly fragmented due to the presence of many players such as Polar Tech Industries, Sonoco Thermosafe, Custom Pack, Inc., TemperPack, Sofrigam, etc., which are making the market competitive.
- August 2022 - TemperPack Technologies, a manufacturer of sustainable thermal insulation for cold chain packaging, has announced acquiring KTM Industries; with the agreement, TemperPack will be able to offer customers an expanded product line and increased market coverage by expanding its footprint in sustainable, protective materials.
- February 2022 - Cascades has announced an expansion plan for the isothermal packaging market with the distribution of products with a new production facility in the western United States, in Tacoma, Washington.
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