North America Insulated Packaging Materials Market
No. of Pages: 93 | Report Code: TIPRE00025866 | Category: Chemicals and Materials
No. of Pages: 93 | Report Code: TIPRE00025866 | Category: Chemicals and Materials
North America constitutes major economies such as the US, Canada, and Mexico. The insulated packaging materials companies are continuously improving the overall business processes to meet the customers' demand for superior quality products and services. Several domestic and multinational companies already have a strong foothold in North American countries such as the US and Canada. North America has a significant proportion of the global pharmaceuticals market. Most of the world's largest pharmaceuticals companies are headquartered in the region. North America produces a lot of pharmaceuticals, which propels the need for insulated packaging materials. The rise in demand for temperature-sensitive products has increased regulatory attention. Regulatory agencies ensure that the food and pharmaceuticals industries adhere to regulations and the items are transported within allowed temperature limits. Sofrigam manufactures vacuum insulated panels (VIP), which have a high heat conductivity. It is great for transporting heat-sensitive products in difficult situations, such as extended periods and intense heat. Within the specified temperature range, the products can be stored for 7 to 10 days. Furthermore, Sealed Air offers customized packaging solutions, such as custom-fabricated shipping boxes and automated packaging and bagging systems, for the distribution of medical equipment, face masks, and test kits. It also aids vaccine distribution and administration by offering a wide range of temperature assurance materials for packing vials that require a cool supply chain, particularly during the crucial last mile of delivery. The growing demand for temperature-sensitive packaging drives the growth of the insulated packaging materials market in North America.
In case of COVID-19, North America is highly affected specially the US, followed by Canada and Mexico. The unprecedented rise in the number of COVID-19 cases across the US and Canada, along with the subsequent lockdown of production facilities in the countries, has negatively influenced the growth of the various markets. The market for insulated packaging materials has been impacted due to ineffective supply of raw materials such as polyurethane along with a significant impact upon the production processes. Additionally, hike in crude oil prices have led to the fluctuation in raw material prices of insulated packaging materials, creating challenges in the market growth. However, the market has also witnessed significant investment and growth due to the rapid growth of various end use industries such as food & beverages, e-commerce, and pharmaceuticals. With the state of economic recovery, several industrial sectors are strategically planning to invest in advanced and bio-based insulated packaging materials with the rising need for advanced insulated packaging systems across food & beverages, medical and pharmaceuticals, chemicals, and other such facilities. This is expected to provide an impetus to North America insulated packaging materials market growth.
Strategic insights for the North America Insulated Packaging Materials provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 2,803.50 Million |
| Market Size by 2028 | US$ 3,964.73 Million |
| Global CAGR (2021 - 2028) | 5.1% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Material Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America Insulated Packaging Materials refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The North America insulated packaging materials market is expected to grow from US$ 2,803.50 million in 2021 to US$ 3,964.73 million by 2028; it is estimated to grow at a CAGR of 5.1% from 2021 to 2028. Retailers are adopting digital technologies and investing in e-commerce infrastructure upgrades owing to the increasing demand for cross-border trade and the rising adoption of smartphones. This is further creating new opportunities for product manufacturers to generate revenue through e-commerce. Prime e-commerce markets the US and Canada across the region. The growth of e-commerce is expected to offer opportunities for the food and beverages product manufacturers, pharmaceuticals companies, and electronic products manufacturers to explore the market through online retailers. The expanding middle-class population is making a significant contribution to the growth of e-commerce across the region. The rising adoption of e-commerce has led to an increase in the number of e-commerce websites and expansion of sales channels from traditional company websites to online retailers. Owing to the surging adoption of online shopping for groceries and medicines, along with the increasing online food ordering trend, the demand for insulated packaging is on a rise to maintain the quality of the perishable products during transportation and storage. Hence, the growing e-commerce industry across the region is expected to create lucrative opportunities for the North America insulated packaging materials market during the forecast period.
In terms of material type, the corrugated cardboard segment accounted for the largest share of the North America insulated packaging materials market in 2020. In terms of type, the reusable segment held a larger market share of the North America insulated packaging materials market in 2020. Further, the food and beverages segment held a larger share of the North America insulated packaging materials market based on end user in 2020.
A few major primary and secondary sources referred to for preparing this report on the North America insulated packaging materials market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Cascades inc., ICEE Containers Pty Ltd, Insulated Products Corporation, Sealed Air, TemperPack, and The Wool Packaging Company Limited.
The North America Insulated Packaging Materials Market is valued at US$ 2,803.50 Million in 2021, it is projected to reach US$ 3,964.73 Million by 2028.
As per our report North America Insulated Packaging Materials Market, the market size is valued at US$ 2,803.50 Million in 2021, projecting it to reach US$ 3,964.73 Million by 2028. This translates to a CAGR of approximately 5.1% during the forecast period.
The North America Insulated Packaging Materials Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Insulated Packaging Materials Market report:
The North America Insulated Packaging Materials Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Insulated Packaging Materials Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Insulated Packaging Materials Market value chain can benefit from the information contained in a comprehensive market report.
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