North America Insulated Packaging Materials Market Dynamics and Trends by 2028

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. The US, Canada, and Mexico are economies in North America. Growing demand from pharmaceuticals industry is expected to fuel the market growth. Rising per capita disposable income, increasing investments in the improvement of cold chain infrastructure, growing end-user industries, and accessibility to medical facilities attribute to the growth of the market. In the past few years, the healthcare and pharmaceuticals industries have witnessed an unprecedented rise in demand for temperature-controlled/insulated packaging due to an increase in the demand and transportation of temperature-sensitive pharmaceuticals products and samples. Various biopharmaceuticals, such as tissue samples, vaccines, gene therapy products, and enzymes, are temperature sensitive and must be kept at specific temperatures during transportation and storage. The pharmaceuticals industry facilitates the demand for insulated packaging, which, in turn, catalyzes the demand for insulated packaging materials. The rising prevalence of diseases and ailments propels the demand for vaccines, medicines, testing kits, and gene therapies, which require insulated packaging as they are sensitive to temperature and humidity. In March 2020, the World Health Organization (WHO) declared COVID-19 a pandemic and since then the demand for medicines for the treatment of COVID-19, COVID-19 testing kits, and COVID-19 vaccines has been on a rise. Prominent COVID-19 vaccine manufacturers are exporting the vaccine to international markets to meet the demand. All countries across the region are focused on getting their entire population fully vaccinated to curb the spread of the novel coronavirus that causes COVID-19 and avoid the emergence of its new variants. However, the target to achieve full vaccination amongst the entire population of the respective countries is still lagging, resulting in potential demand for vaccines across the region. Thus, the lucrative trade of biopharmaceuticals boosts the demand for insulated packaging in the pharmaceuticals industry, which, in turn, drives the growth of the North America insulated packaging materials market.

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.    

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America insulated packaging materials market. The North America insulated packaging materials market is expected to grow at a good CAGR during the forecast period.

North America Insulated Packaging Materials Market Segmentation    

North America Insulated Packaging Materials Market – By Material Type

• Plastic
• Wood
• Corrugated Cardboard
• Others

North America Insulated Packaging Materials Market – By Type

• Single Use
• Reusable

North America Insulated Packaging Materials Market – By End User

• Pharmaceutical
• Food and Beverages
• Cosmetic
• Industrial
• Others

North America Insulated Packaging Materials Market, by Country

• US
• Canada  
• Mexico    

North America Insulated Packaging Materials Market -Companies Mentioned

• Cascades inc.
• ICEE Containers Pty Ltd
• Insulated Products Corporation
• Sealed Air 
• TemperPack
• The Wool Packaging Company Limited

North America Insulated Packaging Materials Report Scope