Market Trends of North America Insulated Shipping Containers Industry
This section covers the major market trends shaping the North America Insulated Shipping Containers Market according to our research experts:
Lifesciences and Pharmaceutical Segment Holds Significant Share
- In the United States, many temperature-sensitive medications are produced and shipped, including expensive, highly specialized cancer therapies and vaccines against infectious diseases. AS medication's demand and supply chain must be kept at a certain temperature to be safe and effective. Insulated shipping containers will therefore be crucial in preventing the loss of expensive drugs due to temperature variations.
- Rising demands for handling temperature-sensitive pharmaceuticals will fuel sales increase for insulated shipping containers. A growing regulatory emphasis on compliance with storage temperature standards will promote demand in medicine and medical applications.
- Due mostly to its investment in biomedical research, the United States has emerged as a global leader in drug discovery and development, with a sizable number of manufacturers. The demand for these containers is considerable and is expected to continue to rise with the increase of production in the U.S. and Canada, which have notable life sciences and pharmaceutical industries.
- For Instance, in November 2021 - OtterBox announced a thermally efficient Liviri container series, which aims to transform seasonal wine shipment into year-round, sustainable shipping. The new Liviri Vino 6-bottle hard-sided wine crates keep wine at safe temperatures for five days while transported by ground, even during the hottest and coldest months.
Understand The Key Trends Shaping This Market
Download Sample
United States is Expected to Register Highest Growth Rate
- North America is considered One of the important markets for insulated shipping containers, with the United States making up a sizeable portion of that market. The substantial presence of numerous vendors, exports, and imports can be linked to the nation's great demand. U.N. Comtrade reports that the value of fresh, chilled, or frozen pork exported from the United States in 2021 was USD 5.96 billion, up USD 1.93 billion from 2015. The use of insulated shipping will see substantial prospects as a result of this expansion in export trade.
- Additionally, there are government laws in the nation. For instance, the Food and Drug Administration in the United States heavily regulates the industry of food-contact packaging. The rules are anticipated to encourage the use of insulated shipping containers in the nation because food is one of the most delicate things to move and store.
- The market is expanding, as seen by the announcement of a new USD 355 million bacon manufacturing facility made by Tyson Foods, Kentucky Governor Andy Beshear, and Bowling Green city leaders in February 2022. The 450 workers at the 400,000 square-foot plant, scheduled to debut in late 2023, will help meet the company's growing demand for its Jimmy Dean and Wright brands. These developments increase the demand for insulated shipping containers for moving food.
- The U.S. Department of Commerce's Census.gov website reports that e-commerce sales in the U.S. have been rising steadily for more than ten years, with notable gains in the two years prior. Total e-commerce sales in the U.S. increased by 14.3%, from USD 759.6 billion in 2020 to USD 870.7 billion in 2021. Such situations will increase demand for the necessary insulated transport containers.
Get Analysis on Important Geographic Markets
Download Sample
