North America Temperature Controlled Packaging Market
No. of Pages: 120 | Report Code: TIPRE00028972 | Category: Manufacturing and Construction
No. of Pages: 120 | Report Code: TIPRE00028972 | Category: Manufacturing and Construction
A rapid surge in demand from the healthcare and pharmaceutical industries propels the growth of the North America temperature controlled packaging market. As a result of the COVID-19 pandemic, transporting vaccines throughout the region at optimum temperatures was one of the highest priorities for packaging providers. Due to the pandemic, demand for COVID-19 vaccines and other flu vaccinations increased exponentially. Since cold chain technology is crucial for maintaining required temperature in the safe storage and transportation of vital vaccines, including COVID-19 vaccines, many medications must be kept at ambient temperature, refrigerated, frozen, or deep-frozen, which influences the need for temperature-controlled packaging to preserve these medications. Temperature excursions during distribution can be avoided by keeping the product within the required temperature range during transit. Cold chain transportation with temperature-controlled packaging is also required for perishable items, such as medicines and medical supplies, to protect these products from the impact of high temperature and environmental changes. Pharmaceutical businesses are well-known for the use of sophisticated temperature-control solutions. They need several cold chain systems for pallet shipping to offer the appropriate protection for their pallet carriers. Therefore, temperature-controlled packaging is critical in the pharmaceutical industry. As a result of the increasing need to transport perishable items, the rising demand for temperature-controlled packaging is driving the North America temperature controlled packaging market.
The indirect impact on the pharmaceutical industry in North America can be seen especially in the supply chain activities, which were disrupted due to the COVID-19 pandemic. The steady growth of the pharmaceutical industry and the packaging and distribution of pharmaceuticals were further hampered by the effect of stringent lockdowns and trade restrictions across North America. Supply chain challenges that needed continuous innovative practices and agility pushed many companies to deploy teams specializing in identifying and resolving such challenges. The companies operating in the market resumed logistic delays with emphasized pharmaceutical & healthcare safeguards and planning initiatives by the US government. Since the consumption and demand for pharmaceuticals increased, the COVID-19 pandemic negatively impacted the North America temperature controlled packaging market at the end of 2020 and gradually recovered by early 2021.
Continuous investments in the improvement of cold chain logistics and overall value chain, especially across emerging economies, cumulatively drive the North American temperature-controlled packaging market. Cold chain logistics operations, which mainly involve transporting temperature-sensitive materials and products, require a temperature-controlled packaging. Many products, such as fresh agricultural commodities or pharmaceuticals, can be transported by using temperature-controlled packaging solutions. Temperature change can hinder the quality of medicines and make them unsafe for consumption. Therefore, demand for cold chain logistics to preserve healthcare items is emerging due to the need to preserve the healthcare and biopharma items. Rise in the number of clinical studies being undertaken in North America, which involve numerous temperature-sensitive materials such as blood samples, pharmaceuticals, and tissue samples are undertaken. Given such advancements in the cold chain logistics operations are increasing the demand for the use of temperature-controlled packaging, thereby driving the North America Temperature Controlled Packaging Market.
Based on packaging type, the North America temperature controlled packaging market is segmented into active and passive. The active segment accounted for a major share in the market in 2021. Moreover, it is expected to register a higher CAGR during the forecast period. Active containers may have built-in heating and cooling systems that use dry ice as a coolant to maintain a specified temperature.
Strategic insights for the North America Temperature Controlled Packaging 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$ 1,421.31 Million |
| Market Size by 2028 | US$ 2,208.45 Million |
| Global CAGR (2022 - 2028) | 6.6% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Packaging Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America Temperature Controlled Packaging 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.
Based on end user industry, the North America temperature controlled packaging market is segmented into pharmaceutical, healthcare, and others . The pharmaceutical segment accounted for a major share in the market in 2021. The market for the pharmaceutical segment is anticipated to grow at the fastest CAGR during the forecast period.
Companies operating in the North America temperature controlled packaging market adopt strategies such as mergers and acquisitions and market initiatives to maintain their market positions. A few of the notable developments by key players are listed below:
The North America temperature controlled packaging market, by packaging type, is segmented into active and passive. The active segment led the market with a larger share in 2021. Based on end-user industry, the North America temperature controlled packaging market is segmented into pharmaceutical, healthcare, and others. The pharmaceutical segment led the market with the largest share in 2021. By country, the market is segmented into the US, Canada, and Mexico.
The North America Temperature Controlled Packaging Market is valued at US$ 1,421.31 Million in 2021, it is projected to reach US$ 2,208.45 Million by 2028.
As per our report North America Temperature Controlled Packaging Market, the market size is valued at US$ 1,421.31 Million in 2021, projecting it to reach US$ 2,208.45 Million by 2028. This translates to a CAGR of approximately 6.6% during the forecast period.
The North America Temperature Controlled Packaging 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 Temperature Controlled Packaging Market report:
The North America Temperature Controlled Packaging Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Temperature Controlled Packaging Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Temperature Controlled Packaging Market value chain can benefit from the information contained in a comprehensive market report.
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