North America Insulated Packaging Materials Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Material Type (Plastic, Wood, Corrugated Cardboard, and Others), Type (Single Use and Reusable), and End User (Pharmaceutical, Food and Beverages, Cosmetic, Industrial, and Others)
Market Introduction
North America constitutes major economies such as the US, Canada, and Mexico. The insulated packaging materials companies are continuously improving the overall business processes to meet the customers' demand for superior quality products and services. Several domestic and multinational companies already have a strong foothold in North American countries such as the US and Canada. North America has a significant proportion of the global pharmaceuticals market. Most of the world's largest pharmaceuticals companies are headquartered in the region. North America produces a lot of pharmaceuticals, which propels the need for insulated packaging materials. The rise in demand for temperature-sensitive products has increased regulatory attention. Regulatory agencies ensure that the food and pharmaceuticals industries adhere to regulations and the items are transported within allowed temperature limits. Sofrigam manufactures vacuum insulated panels (VIP), which have a high heat conductivity. It is great for transporting heat-sensitive products in difficult situations, such as extended periods and intense heat. Within the specified temperature range, the products can be stored for 7 to 10 days. Furthermore, Sealed Air offers customized packaging solutions, such as custom-fabricated shipping boxes and automated packaging and bagging systems, for the distribution of medical equipment, face masks, and test kits. It also aids vaccine distribution and administration by offering a wide range of temperature assurance materials for packing vials that require a cool supply chain, particularly during the crucial last mile of delivery. The growing demand for temperature-sensitive packaging drives the growth of the insulated packaging materials market in North America.
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.
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Market Overview and Dynamics
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. Retailers are adopting digital technologies and investing in e-commerce infrastructure upgrades owing to the increasing demand for cross-border trade and the rising adoption of smartphones. This is further creating new opportunities for product manufacturers to generate revenue through e-commerce. Prime e-commerce markets the US and Canada across the region. The growth of e-commerce is expected to offer opportunities for the food and beverages product manufacturers, pharmaceuticals companies, and electronic products manufacturers to explore the market through online retailers. The expanding middle-class population is making a significant contribution to the growth of e-commerce across the region. The rising adoption of e-commerce has led to an increase in the number of e-commerce websites and expansion of sales channels from traditional company websites to online retailers. Owing to the surging adoption of online shopping for groceries and medicines, along with the increasing online food ordering trend, the demand for insulated packaging is on a rise to maintain the quality of the perishable products during transportation and storage. Hence, the growing e-commerce industry across the region is expected to create lucrative opportunities for the North America insulated packaging materials market during the forecast period.
Key Market Segments
In terms of material type, the corrugated cardboard segment accounted for the largest share of the North America insulated packaging materials market in 2020. In terms of type, the reusable segment held a larger market share of the North America insulated packaging materials market in 2020. Further, the food and beverages segment held a larger share of the North America insulated packaging materials market based on end user in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the North America insulated packaging materials market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Cascades inc., ICEE Containers Pty Ltd, Insulated Products Corporation, Sealed Air, TemperPack, and The Wool Packaging Company Limited.
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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 - Company Profiles
- Cascades inc.
- ICEE Containers Pty Ltd
- Insulated Products Corporation
- Sealed Air
- TemperPack
- The Wool Packaging Company Limited
TABLE OF CONTENTS
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 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection
3.2.2 Primary Interviews
3.2.3 Hypothesis Formulation
3.2.4 Macro-economic Factor Analysis
3.2.5 Developing Base Number
3.2.6 Data Triangulation
3.2.7 Country Level Data
4. North America Insulated Packaging Materials Market Landscape
4.1 Market Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of Substitutes
4.2.4 Threat of New Entrants
4.2.5 Intensity of Competitive Rivalry
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. North America Insulated Packaging Materials Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Demand from Pharmaceuticals Industry
5.1.2 Increasing Demand for Temperature-Sensitive Products
5.2 Market Restraint
5.2.1 Unstable Raw Material Prices
5.3 Market Opportunities
5.3.1 Rising E-Commerce Industry
5.4 Future Trends
5.4.1 Introduction of Bio-Based Insulated Packaging Materials
5.5 Impact Analysis of Drivers and Restraint
6. Insulated Packaging Materials Market – North America Analysis
6.1 North America Insulated Packaging Materials Market Overview
6.2 North America Insulated Packaging Materials Market –Revenue and Forecast to 2028
7. North America Insulated Packaging Materials Market Analysis – By Material Type
7.1 North America Insulated Packaging Materials Market, By Material Type (2020 and 2028)
7.2 Plastic
7.2.1 Overview
7.2.2 Plastic: Insulated Packaging Materials Market – Revenue and Forecast To 2028 (USD Million)
7.3 Wood
7.3.1 Overview
7.3.2 Wood: Insulated Packaging Materials Market – Revenue and Forecast To 2028 (USD Million)
7.4 Corrugated Cardboard
7.4.1 Overview
7.4.2 Corrugated Cardboard: Insulated Packaging Materials Market – Revenue and Forecast to 2028 (USD Million)
7.5 Other Material Type
7.5.1 Overview
7.5.2 Other Material Type: Insulated Packaging Materials Market – Revenue and Forecast To 2028 (USD Million)
7.5.3 North America Other Material Type: Insulated Packaging Materials Market – Revenue and Forecast To 2028 (USD Million)
8. North America Insulated Packaging Materials Market Analysis – By Type
8.1 Overview
8.2 North America Insulated Packaging Materials Market, By Type (2020 and 2028)
8.3 Single Use
8.3.1 Overview
8.3.2 Single Use: Insulated Packaging Materials Market – Revenue and Forecast To 2028 (USD Million)
8.4 Reusable
8.4.1 Overview
8.4.2 Reusable: Insulated Packaging Materials Market – Revenue and Forecast To 2028 (USD Million)
9. North America Insulated Packaging materials Market Analysis – By End User
9.1 Overview
9.2 North America Insulated Packaging materials Market, By End User (2020 and 2028)
9.3 Pharmaceutical
9.3.1 Overview
9.3.2 Pharmaceutical: Insulated Packaging Materials Market – Revenue and Forecast To 2028 (USD Million)
9.4 Food and Beverages
9.4.1 Overview
9.4.2 Food and Beverages: Insulated packaging materials Market – Revenue and Forecast To 2028 (USD Million)
9.5 Cosmetic
9.5.1 Overview
9.5.2 Cosmetic: Insulated Packaging Materials Market – Revenue and Forecast To 2028 (USD Million)
9.6 Industrial
9.6.1 Overview
9.6.2 Industrial: Insulated Packaging Materials Market – Revenue and Forecast To 2028 (USD Million)
9.7 Other End User
9.7.1 Overview
9.7.2 Other End User: Insulated packaging materials Market – Revenue and Forecast To 2028 (USD Million)
10. North America Insulated Packaging Materials Market – Country Analysis
10.1 Overview
10.1.1 North America: Insulated Packaging Materials Market, by Key Country
10.1.1.1 US: Insulated Packaging Materials Market –Revenue and Forecast to 2028 (US$ Million)
10.1.1.1.1 US: Insulated Packaging Materials Market, by Material Type
10.1.1.1.2 US: Insulated Packaging Materials Market, by Type
10.1.1.1.3 US: Insulated Packaging Materials Market, by End User
10.1.1.2 Canada: Insulated Packaging Materials Market –Revenue and Forecast to 2028 (US$ Million)
10.1.1.2.1 Canada: Insulated Packaging Materials Market, by Material Type
10.1.1.2.2 Canada: Insulated Packaging Materials Market, by Type
10.1.1.2.3 Canada: Insulated Packaging Materials Market, by End User
10.1.1.3 Mexico: Insulated Packaging Materials Market –Revenue and Forecast to 2028 (US$ Million)
10.1.1.3.1 Mexico: Insulated Packaging Materials Market, by Material Type
10.1.1.3.2 Mexico: Insulated Packaging Materials Market, by Type
10.1.1.3.3 Mexico: Insulated Packaging Materials Market, by End User
11. Impact of Coronavirus Outbreak on North America Insulated Packaging Materials Market
11.1 North America: Impact Assessment of COVID-19 Pandemic
12. Company Profiles
12.1 Sealed Air
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 The Wool Packaging Company Limited
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 Cascades 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 ICEE Containers Pty Ltd
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 TemperPack
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 Insulated Products 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
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. North America Insulated Packaging Materials Market –Revenue and Forecast to 2028 (US$ Million)
Table 2. US Insulated Packaging Materials Market, by Material Type – Revenue and Forecast to 2028 (US$ Million)
Table 3. US Insulated Packaging Materials Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 4. US Insulated Packaging Materials Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 5. Canada Insulated Packaging Materials Market, by Material Type – Revenue and Forecast to 2028 (US$ Million)
Table 6. Canada Insulated Packaging Materials Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 7. Canada Insulated Packaging Materials Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 8. Mexico Insulated Packaging Materials Market, by Material Type – Revenue and Forecast to 2028 (US$ Million)
Table 9. Mexico Insulated Packaging Materials Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 10. Mexico Insulated Packaging Materials Market, by End User – Revenue and Forecast to 2028 (US$ Million)
Table 11. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Insulated Packaging Materials Market Segmentation
Figure 2. North America Insulated Packaging Materials Market Segmentation – By Country
Figure 3. North America Insulated Packaging Materials Market Overview
Figure 4. North America Insulated Packaging Materials Market, By Type
Figure 5. North America Insulated Packaging Materials Market, By Country
Figure 6. Porter ‘s Five Forces Analysis
Figure 7. North America Insulated Packaging materials Market – Ecosystem Analysis
Figure 8. Expert Opinion
Figure 9. North America Insulated Packaging Materials Market Impact Analysis of Drivers and Restraints
Figure 10. North America: Insulated Packaging Materials Market – Revenue and Forecast to 2028 (US$ Million)
Figure 11. North America Insulated Packaging Materials Market Revenue Share, By Material Type (2020 and 2028)
Figure 12. North America Plastic: Insulated Packaging Materials Market – Revenue and Forecast To 2028 (USD Million)
Figure 13. North America Wood: Insulated Packaging Materials Market – Revenue and Forecast To 2028 (USD Million)
Figure 14. North America Corrugated Cardboard: Insulated Packaging Materials Market – Revenue and Forecast To 2028 (USD Million)
Figure 15. North America Insulated Packaging Materials Market Revenue Share, By Type (2020 and 2028)
Figure 16. North America Single Use: Insulated Packaging Materials Market – Revenue and Forecast To 2028 (USD Million)
Figure 17. North America Reusable: Insulated Packaging Materials Market – Revenue and Forecast To 2028 (USD Million)
Figure 18. North America Insulated Packaging Materials Market Revenue Share, By End User (2020 and 2028)
Figure 19. North America Pharmaceutical: Insulated Packaging Materials Market – Revenue and Forecast To 2028 (USD Million)
Figure 20. North America Food and Beverages: Insulated Packaging Materials Market – Revenue and Forecast To 2028 (USD Million)
Figure 21. North America Cosmetic: Insulated Packaging Materials Market – Revenue and Forecast To 2028 (USD Million)
Figure 22. North America Industrial: Insulated Packaging Materials Market – Revenue and Forecast To 2028 (USD Million)
Figure 23. North America Other End User: Insulated packaging materials Market – Revenue and Forecast To 2028 (USD Million)
Figure 24. North America: Insulated Packaging Materials Market, by Key Country – Revenue (2020) (USD Million)
Figure 25. North America: Insulated Packaging Materials Market Revenue Share, by Key Country (2020 and 2028)
Figure 26. US: Insulated Packaging Materials Market –Revenue and Forecast to 2028 (US$ Million)
Figure 27. Canada: Insulated Packaging Materials Market –Revenue and Forecast to 2028 (US$ Million)
Figure 28. Mexico: Insulated Packaging Materials Market –Revenue and Forecast to 2028 (US$ Million)
Figure 29. Impact of COVID-19 Pandemic in North America
- Cascades inc.
- ICEE Containers Pty Ltd
- Insulated Products Corporation
- Sealed Air
- TemperPack
- The Wool Packaging Company Limited
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