North America Insulated Shipping Containers Market Report 2022: Growth in the Pharmaceutical and Healthcare Sector to Boost Demand - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "North America Insulated Shipping Containers Market - Growth, Trends, COVID-19 Impact, and Forecast (2022 - 2027)" report has been added to ResearchAndMarkets.com's offering.

North America Insulated Shipping Container Market was valued at USD 1,412.68 million in 2021, and it is projected to be worth USD 2,102.47 million by 2027, registering a CAGR of 6.72% during the forecast period, 2022-2027.

Key Highlights

• Pharmaceuticals, fresh vegetables, beverages, frozen goods, and chemicals require precise temperatures to be maintained. They must also be safeguarded from contamination by filtering the air entering and leaving the container. Insulation plays a significant function in this situation. It completely seals a shipping container from the outside and aids in the preservation of the carried products' condition.
• Thermal packing insulated shipping container liner kits are the most cost-effective method of protecting goods in storage since they are designed to reduce the risk of condensation significantly. The liners can also preserve perishable goods, including food, beverages, and pharmaceuticals that need to be transported at a constant temperature.
• Expanded polystyrene (EPS) containers are among the most employed insulated shipping containers in the food and pharmaceutical industries. EPS coolers provide several advantages, including thermally insulating, lightweight, and inexpensive. Over 100 counties, including Los Angeles, Portland, New York, and Washington, DC, have already banned polystyrene foam products due to their environmental effect and non-biodegradability.
• The temperature of drugs varies rapidly depending on the environment in which it is located. A vaccine can go out of the required temperature range after a few minutes when unprotected and exposed to heat or cold. As a result of these variations, insulated shipping containers use is driving the market growth.
• The market witnessed a significant amount of food items cold stored in warehouses. For instance, according to the US Department of Agriculture, Over 2.3 billion pounds of frozen vegetables were cold stored in warehouses in the United States as of December 31, 2021, followed by dairy products (1,6 billion pounds); frozen potatoes (1.0 billion pounds) among others. Such demand for frozen products is expected to increase demand for insulated shipping containers.
• With the outbreak of COVID-19, high-quality cold transport containers became significant in the pharmaceutical transportation process, ensuring that pharmaceutical businesses can overcome the numerous shipping challenges and container manufacturers are adhering to strict regulatory guidelines for the public's benefit. Pharmaceutical chemicals and products, and the containers used to transport them, are subject to stringent regulations imposed by the Food and Drug Administration and other regulatory bodies.

Key Market Trends

Lifesciences and Pharmaceutical Segment Holds Significant Share

• Temperature-sensitive medications, such as high-value specialized cancer drugs and vaccinations for infectious diseases, are widely produced and transported in the United States. They require temperature control throughout the supply chain to assure their safety and efficacy. As a result, insulated shipping containers will play an essential role in preventing the loss of high-value medications due to temperature changes.
• Increased expectations for handling temperature-sensitive pharmaceuticals will drive sales growth for insulated shipping containers. Demand in pharmaceutical and medical applications will be supported by a rising regulatory focus on compliance with storage temperature regulations.
• The United States has become a world leader in drug discovery and development, with a substantial number of manufacturers, primarily to its investment in biomedical research. As the U.S. and Canada have prominent life sciences and pharmaceutical manufacturers, the demand for these containers is high and is further set to grow with the manufacturing expansions.

United States is Expected to Register Highest Growth Rate

• North America is one of the significant markets for insulated shipping containers, with the United States accounting for a substantial share in the region. The country's enormous demand can be attributed to the vast presence of various vendors, Exports, and Imports. According to U.N. Comtrade, In 2021, the Export value of fresh, chilled, or frozen pork in the United States accounted for USD 5.96 billion, increasing by USD 1.93 billion compared to 2015. Such an increase in export trade will bring significant opportunities to the insulated shipping use in the country.
• Also, the government regulations in the country, for instance, the food-contact packaging sector of the United States is highly regulated by the Food and Drug Administration (FDA). With food being one of the most sensitive products to transfer and store, the regulations are expected to promote the adoption of insulated shipping containers in the country.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

5 MARKET DYAMICS

6 MARKET SEGMENTATION

7 COMPETITIVE LANDSCAPE

8 INVESTMENT ANALYSIS

9 FUTURE MARKET OUTLOOK

Companies Mentioned

• Polar Tech Industries
• Sonoco Thermosafe (sonoco Products Company)
• Custom Pack, Inc.
• Temperpack
• Sofrigam
• Intelsius (A DGP Company)
• Cascades Inc.
• Softbox Systems Ltd. (CSAFE Global)
• Insulated Products Corporation
• Chill-Pak
• Airlite Plastics Co (KODIAKOOLER)
• Therapak (AVANTOr Group)
• Thermal Shipping Solution

For more information about this report visit https://www.researchandmarkets.com/r/618426

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