North America Temperature Controlled Packaging Market to Grow at a CAGR of 6.6% to reach US$ 2,208.45 million from 2022 to 2028
The North America temperature controlled packaging market is expected to grow from US$ 1,421.31 million in 2021 to US$ 2,208.45 million by 2028; it is estimated to grow at a CAGR of 6.6% from 2022 to 2028.
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.
Impact of COVID-19 Pandemic on 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.
Market Insights:
Rising Investments in Cold Storage Packaging
Rising Investments in Cold Storage Packaging
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.
Packaging Type Segment Insights
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.
North America Temperature Controlled Packaging market, by Packaging Type (% share)
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End User Industry Segment Insights
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.
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North America Temperature Controlled Packaging Market: Strategic Insights
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
North America Temperature Controlled Packaging Market: Strategic Insights
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Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
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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:
- In February 2021,Cryopak Industries has announced plans to expand in Montreal in 2021. The latest extension, which brings the facility's overall square footage to 170,000 square feet, follows a previous expansion in 2015 that increased the area from 30,000 to 100,000 square feet.
- In April 2021, UPS has announced the start of construction of a 40,000-square-meter built-to-suit healthcare logistics facility in Rome, Italy. The validated and GMP-compliant facility, which will contain numerous verified controlled temperature conditions, is expected to launch in July 2022.
The report segments the North America Temperature Controlled Packaging market as follows:
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.
North America Temperature Controlled Packaging Market – Company Profiles
- Sonoco Products Company
- AmerisourceBergen Corporation
- Cold Chain Technologies, Inc
- Inmark LLC
- Pelican Biothermal LLC
- Cryopak A TCP Company
- FedEx Corporation
- United Parcel Service
- American Aerogel Corporation
- ACH Foam Technologies, LLC.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Temperature Controlled Packaging Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. North America Temperature Controlled Packaging Market – Key Industry Dynamics
5.1 Market Drivers
5.1.1 Surge in Demand from Healthcare and Pharmaceuticals Industries
5.1.2 Rising Investments in cold storage packaging
5.2 Market Restraints
5.2.1 High Investment and material cost
5.3 Market Opportunities
5.3.1 Specializing in niche market offerings along with competitively priced solutions
5.4 Future Trends
5.4.1 Providing hybrid temperature-controlled packaging solutions
6. North America Temperature Controlled Packaging Market –Regional Market Analysis
6.1 North America Temperature Controlled Packaging Market Overview
6.2 North America Temperature Controlled Packaging Market Forecast and Analysis
6.3 Market Positioning – Global Key Players
7. North America Temperature Controlled Packaging Market Analysis – By Packaging Type
7.1 Overview
7.2 North America Temperature Controlled Packaging Market, By Packaging Type (2021 and 2028)
7.3 Active
7.3.1 Overview
7.3.2 Active: North America Temperature Controlled Packaging Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Passive
7.4.1 Overview
7.4.2 Passive: North America Temperature Controlled Packaging Market – Revenue and Forecast to 2028 (US$ Million)
7.4.3 Single Use: North America Temperature Controlled Packaging Market – Revenue and Forecast to 2028 (US$ Million)
7.4.3.1 Overview
7.4.3.2 Single Use: North America Temperature Controlled Packaging Market – Revenue and Forecast to 2028 (US$ Million)
7.4.4 Multi Use: North America Temperature Controlled Packaging Market – Revenue and Forecast to 2028 (US$ Million)
7.4.4.1 Overview
7.4.4.2 Multi Use: North America Temperature Controlled Packaging Market – Revenue and Forecast to 2028 (US$ Million)
8. North America Temperature Controlled Packaging Market Analysis – By End User
8.1 Overview
8.2 North America Temperature Controlled Packaging Market, By End User (2021 and 2028)
8.3 Pharmaceutical
8.3.1 Overview
8.3.2 Pharmaceutical: North America Temperature Controlled Packaging Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Healthcare
8.4.1 Overview
8.4.2 Healthcare: North America Temperature Controlled Packaging Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: North America Temperature Controlled Packaging Market – Revenue and Forecast to 2028 (US$ Million)
9. North America Temperature Controlled Packaging Market Analysis – By Country
9.1 Overview:
9.2 North America Temperature Controlled Packaging Market – Revenue and Forecast to 2028 (US$ Million)
9.3 North America: Temperature Controlled Packaging Market, by Key Country
9.3.1 US: Temperature Controlled Packaging Market – Revenue and Forecast to 2028 (US$ Million)
9.3.1.1 US: Temperature Controlled Packaging Market, By Packaging Type
9.3.1.2 US: Temperature Controlled Packaging Market, By Passive Type
9.3.1.3 US: Temperature Controlled Packaging Market, By End User
9.3.2 Canada: Temperature Controlled Packaging Market – Revenue and Forecast to 2028 (US$ Million)
9.3.2.1 Canada: Temperature Controlled Packaging Market, By Packaging Type
9.3.2.2 Canada: Temperature Controlled Packaging Market, By Passive Type
9.3.2.3 Canada: Temperature Controlled Packaging Market, By End User
9.3.3 Mexico: Temperature Controlled Packaging Market – Revenue and Forecast to 2028 (US$ Million)
9.3.3.1 Mexico: Temperature Controlled Packaging Market, By Packaging Type
9.3.3.2 Mexico: Temperature Controlled Packaging Market, By Passive Type
9.3.3.3 Mexico: Temperature Controlled Packaging Market, By End User
10. Impact of COVID-19 Pandemic on North America Temperature Controlled Packaging Market
10.1 Overview
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 Merger and Acquisition
11.4 New Development
12. Company Profiles
12.1 Sonoco Products Company
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 AmerisourceBergen
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Cold Chain Technologies, Inc.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Pelican BioThermal LLC
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Cryopak A TCP Company
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 FedEx Corporation
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 United Parcel Service of America, Inc.
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Inmark Global Holdings, LLC
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 ACH Foam Technologies, LLC
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 American Aerogel
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. North America Temperature Controlled Packaging Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. US: Temperature Controlled Packaging Market, By Packaging Type –Revenue and Forecast to 2028 (US$ Million)
Table 3. US: Temperature Controlled Packaging Market, By Passive Type –Revenue and Forecast to 2028 (US$ Million)
Table 4. US: Temperature Controlled Packaging Market, By End User –Revenue and Forecast to 2028 (US$ Million)
Table 5. Canada: Temperature Controlled Packaging Market, By Packaging Type –Revenue and Forecast to 2028 (US$ Million)
Table 6. Canada: Temperature Controlled Packaging Market, By Passive Type –Revenue and Forecast to 2028 (US$ Million)
Table 7. Canada: Temperature Controlled Packaging Market, By End User –Revenue and Forecast to 2028 (US$ Million)
Table 8. Mexico: Temperature Controlled Packaging Market, By Packaging Type –Revenue and Forecast to 2028 (US$ Million)
Table 9. Mexico: Temperature Controlled Packaging Market, By Passive Type –Revenue and Forecast to 2028 (US$ Million)
Table 10. Mexico: Temperature Controlled Packaging Market, By End User –Revenue and Forecast to 2028 (US$ Million)
Table 11. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Temperature Controlled Packaging Market Segmentation
Figure 2. North America Temperature Controlled Packaging Market Segmentation – By Geography
Figure 3. North America Temperature Controlled Packaging Market Overview
Figure 4. Active Segment held the Largest Share of North America Temperature Controlled Packaging Market
Figure 5. Multi Use Segment held the Largest Share of North America Temperature Controlled Packaging Market
Figure 6. Pharmaceuticals Segment held the Largest Share of North America Temperature Controlled Packaging Market
Figure 7. North America – PEST Analysis
Figure 8. North America Temperature Controlled Packaging Market– Ecosystem Analysis
Figure 9. North America Temperature Controlled Packaging Market: Impact Analysis of Drivers and Restraints
Figure 10. North America Temperature Controlled Packaging Market – Geographic Analysis
Figure 11. North America Temperature Controlled Packaging Market Forecast and Analysis (US$ Million)
Figure 12. North America Temperature Controlled Packaging Market Revenue Share, by Packaging Type (2021 and 2028)
Figure 13. Active: North America Temperature Controlled Packaging Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. Passive: North America Temperature Controlled Packaging Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. Single Use: North America Temperature Controlled Packaging Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. Multi Use: North America Temperature Controlled Packaging Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. North America Temperature Controlled Packaging Market Revenue Share, by End User (2021 and 2028)
Figure 18. Pharmaceutical: North America Temperature Controlled Packaging Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Healthcare: North America Temperature Controlled Packaging Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Others: North America Temperature Controlled Packaging Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. North America Temperature Controlled Packaging Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. North America: Temperature Controlled Packaging Market Revenue Share, by Key Country (2021 and 2028)
Figure 23. US: Temperature Controlled Packaging Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. Canada: Temperature Controlled Packaging Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. Mexico: Temperature Controlled Packaging Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Impact of COVID-19 Pandemic in North America
- Sonoco Products Company
- AmerisourceBergen
- Cold Chain Technologies, Inc
- Pelican BioThermal LLC
- Cryopak A TCP Company
- FedEx Corporation
- United Parcel Service of America, Inc
- Inmark Global Holdings, LLC
- ACH Foam Technologies, LLC
- American Aerogel
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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