(MENAFN- GlobeNewsWire - Nasdaq) Dublin, April 01, 2024 (GLOBE NEWSWIRE) -- The "North America Insulated Shipping Containers - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029" report has been added to ResearchAndMarkets's offering.
The North American market for insulated shipping containers is poised for significant growth, with projections placing its value at USD 2.37 billion by 2029. This expansion reflects a compound annual growth rate (CAGR) of 6.46% from 2024 to 2029.
The market is driven by the heightened necessity for safe transportation of temperature-sensitive products across sectors such as pharmaceuticals, chemicals, food, and beverages. Rigorous regulatory compliance standards and the demand for reliable and efficient shipment options in the light of COVID-19 add impetus to market growth.
Industry Highlights
Advancements in the pharmaceutical and life sciences sectors are prominent contributors to the market's upward trajectory. The need to uphold the integrity of delicate medical products during shipping underscores the utility of insulated containers. The U.S. leads in drug discovery and development, amplifying the demand for effective thermal protective solutions in the distribution of pharmaceuticals. Trends and Forecasts
Eco-conscious thermal packaging alternatives and innovations like OtterBox's thermally efficient Liviri container series are reshaping the market with sustainable options. Regional analysis highlights the United States as the segment poised for the highest growth, bolstered by a strong network of vendors, stringent food and drug regulations, and an increasing tilt towards e-commerce.
Market Dynamics
The industry showcases a slightly fragmented landscape with key players such as Polar Tech Industries and Sonoco Thermosafe intensifying competition. Recent expansions by companies like TemperPack Technologies and Cascade's new production facility in Tacoma, Washington mark significant developments within the market space. With the constant advancement in thermal shipping technologies and regulatory mandates ensuring safe transport of perishable products, the North America insulated shipping containers market is set to witness robust growth in the forthcoming years.
A selection of companies mentioned in this report includes, but is not limited to:
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
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North America Insulated Shipping Containers Market Global Biopharma Cold Chain Logistics Spending From 2016 To 2024
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