Reusable Icepacks Market Is Expected To Reach US$ 2,785.1 Mn by 2026

According to the latest report published by Acute Market Reports, Inc. “Reusable Icepacks Market – Growth, Future Prospects, and Competitive Analysis, 2018-2026,” The reusable icepacks market accounted for US$ 1,381.7 million in 2017, reaching US$ 2,785.1 million by 2026, with a CAGR of 8.1 per cent from 2018 to 2026.

Market Insights

Global reusable icepacks amounted to US$ 1,381.7 million in 2017, with CAGRs growing by 8.1 per cent during the forecast period from 2018 to 2026. Reusable icepacks have become a vital part of hot and cold therapy as a proven method of significantly reducing pain and swelling compared to other treatments such as balms and ointments, among others. Cold pack treatment does not involve invasive treatment and is completely non-addictive for joint pain and muscle relaxation. These cold packs help to reduce the flow of blood to the affected part of the body, effectively reducing soreness and inflammation.

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In the same way, hot packs are widely used for pain relief treatments as the heated pack promotes blood circulation. Increased circulation of blood helps to ease the pain and stiffness of muscles, tendons, and ligaments. Icepack manufacturers have been conducting research to ensure the optimum design and functionality of reusable icepacks that can provide maximum comfort. Advances in medical technology and the introduction of new chemical formulations have significantly boosted the ability of reusable icepacks to retain their temperature for longer periods of time. This encouraged consumers to upgrade from homemade ice packs and conventional ice packs to reusable icepacks.

Growing demand for reusable icepacks in the healthcare and pharmaceutical industries is mainly driving the global market. Sports athletes, including professional bodybuilders, marathon runners and fitness professionals, have extensive use of reusable icepacks for homeostasis of body temperature during their resting and recovery periods. This helps their bodies recover faster and avoids the possibility of tissue damage during their training. In addition, these ice packs are also used for veterinary applications, especially for the comfort of post-operative and diseased animals. In addition, refrigeration plays a vital role in the preservation and transport of food and beverages. A variety of food products, such as milk and dairy products, raw meat & fish and fruit & vegetables, require a specific temperature to prevent spoilage. Refrigeration of perishable food is easy with refrigerators and freezers, but the quality of food products is difficult to maintain under on-the-go conditions. In order to overcome such problems during transport, a number of end-use verticals associated with the food and beverage industry use reusable icepacks for food preservation.

Reusable icepacks manufacturers are engaged in the development of new and improved ice packs for efficient, flexible and safe applications. The most commonly used composition is a mixture of water and ammonium nitrate fertilizer, which provides a temperature drop of approximately 35 ° Fahrenheit for a period of 10 to 15 minutes. However, this composition is toxic and can not be used in applications such as food preservation. Companies trying new chemical compositions to overcome the above-mentioned problem by developing ice packs with more stable and non-toxic chemicals capable of maintaining the required temperature for a longer period of time. Although there are no direct market challenges for reusable icepacks, there are factors that may pose a roadblock to the growth of the market for reusable icepacks. Most of the chemical compositions used in reusable icepacks such as Ammonium Nitrate, Urea, Sodium Polyacrylate, Silica Gel, and Diethylene Glycol are toxic in nature and can not be used for various applications such as open wound treatment and food preservation. Limiting a safe and effective cooling medium can be a major challenge to overall market growth. However, the growing demand for reusable icepacks from emerging and developing economies serves as a market opportunity during the forecast period.

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The global market for reusable icepacks has been segmented by product type, application, and geography. Ice / dry ice packs held the largest market share in the global reusable ice pack market by product type in 2017. Increased demand for food is mainly driven by the segment of ice / dry packs during the forecast period. The refrigerant gel-based pack segment is estimated to be the fastest-growing segment due to the fact that it lasts longer compared to ice / dry ice packs. By application, the food and beverage segment held the largest market share and is expected to remain dominant during the forecast period. Refrigeration in the food & beverage and chemical industries is crucial, as certain foods such as specialty chemicals, raw meat, and dairy products, among others, must be stored at certain temperatures that could otherwise be quickly spoiled. By geography, North America had the largest market share. Prominent factors driving market growth include the widespread use of reusable icepacks in multiple end-use industries, such as healthcare and food & drinks. In addition, various regulations implemented by the Perishable Cargo Regulations (PCR) manuals on the handling and packaging of temperature-sensitive goods are being implemented in various regions of Europe and North America in order to harmonize manufacturing, processing, and distribution. This, in turn, creates a favorable environment for the growth of reusable icepacks in the North American region over the forecast period.

List of Companies Covered:

• King Brand Healthcare Products
• Techniice USA
• Lloyds Pharmacy Limited
• Cardinal Health
• S.E.A. Olympus Marketing, Inc.
• 3M Company
• Microban Products Company

Market Segmentation:

By Product Type Segment

• Refrigerant Gel Based Icepacks
• Ice/dry Icepacks
• Chemical-based Icepacks

By Application Segment

• Food & Beverage
• Medical & Healthcare
• Chemicals

By Geography Segment Type

• North America (the U.S., Rest of North America)
• Europe (U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, Japan, India, Rest of Asia Pacific)
• Rest of the World (the Middle East & Africa, Latin America)

Key questions answered in this report

• Who are the distributors, traders and dealers of reusable icepacks market?
• What are expected largest product type and application segments in the market during the forecast period from 2018 to 2026?
• What are the fastest growing segments in the market for the forecast period?
• What are the current market trends in the reusable icepacks market and valuable opportunities for the players?
• How the regulatory framework affects the global as well as the regional markets?
• Which are the key players operating in the global market and what are the strategies adopted by them?
• What are sales, revenue, business strategy and product portfolio of top manufacturers of reusable icepacks market?
• What is the market size and trend in emerging and developed markets?

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