Reusable Icepacks Market to grow at a CAGR of 6.38% during 2024-2028
The Reusable Icepacks Market is expected to grow at a CAGR of 6.38% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 418.7 million. The reusable icepacks market in emerging economies, including China, India, Brazil, South Africa, and Indonesia, is projected to experience substantial expansion during the forecast period. China is anticipated to lead the global reusable icepacks market, primarily due to the robust demand from sectors such as food and beverage and medical and healthcare. The growth of industries, particularly food and beverage and fast-moving consumer goods (FMCG), is fueling the need for reusable icepacks in food packaging. This growth is driven by the rising disposable incomes and increasing economic activities in these emerging markets, specifically China.
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Technavio analysts predict that the Ice/dry icepacks subsegment will lead the Product segment during 2024 and 2028 In the realm of temperature control solutions, reusable ice/dry packs represent a significant innovation. These packs are engineered using non-woven textiles that encapsulate a specially formulated dry ice component. The dry ice is derived from expanding liquid carbon dioxide (CO2) at atmospheric pressure, resulting in a solid material that remains at a temperature of 109.3°F. This material, a combination of CO2 snow and gas, is ideal for maintaining the chill in various applications, including the transportation of perishable goods such as meat, medical supplies, seafood, and biological materials. The ice/dry reusable packs feature a unique one-way perforation technology on their surfaces, enabling them to absorb water for enhanced cooling efficiency.
Here are the various ways based on which the market is segmented:
Key Companies and Market Insights
Some of the key companies in the Global Reusable Icepacks Market include:
There are several factors that are causing the market to flourish increasing demand for packaged food and beverages
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Reusable ice packs have gained significant popularity in recent years as consumers increasingly prioritize eco-friendly and sustainable products. With growing environmental awareness, the demand for reusable products in various industries, including sports, fitness, healthcare, and consumer goods, is on the rise. These versatile cold therapy solutions offer a more sustainable alternative to single-use plastics, reducing energy consumption and plastic waste. In healthcare and medical settings, reusable ice packs are used extensively for physiotherapy, pain relief, and injury recovery. Medical professionals and mail order pharmacies are embracing eco-friendly alternatives, making reusable ice packs a must-have in their inventory. These reusable ice packs come in various shapes and sizes, often made of non-toxic materials like high-density polyethylene. They can be microwaved for heat therapy or stored in a freezer for cold therapy. Some even come with a lightweight shape and a storage bag for easy transport. By choosing reusable ice packs, eco-conscious consumers can contribute to environmental sustainability while enjoying the benefits of effective cold therapy solutions.
The Reusable Icepacks Market encompasses a fragmented industry with intricate supply chains. Key players involve raw material suppliers, metal container manufacturers utilizing steel, aluminum, and tin, glass container producers using borosilicate, neutral glass, soda-lime-silica glass, treated soda-lime glass, de-alkalized soda-lime glass, and regular soda-lime glass, and plastic container manufacturers providing high-density polyethylene (HDPE), low-density polyethylene (LDPE), polyethylene terephthalate (PET), polypropylene (PP), and polyvinyl chloride (PVC). The value chain incorporates raw material procurement, research and development, large-scale production, and distribution through various channels to end-users.
The Reusable Icepacks Market is experiencing significant growth, fueled by the increasing demand for packaged food and beverages. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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