Gel Ice Pack Market Report 2024 - Market Size, Growth Rate, Major Drivers And Key Trends

"The Business Research Company recently released a comprehensive report on the Global Gel Ice Pack Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The gel ice pack market size has grown rapidly in recent years. It will grow from $10.66 billion in 2023 to $12.5 billion in 2024 at a compound annual growth rate (CAGR) of 17.2%. The growth in the historic period can be attributed to increasing efforts in educating consumers, growing number of clinical trials to validate the efficacy, higher rates of road accidents, rising popularity of fitness activities, and increasing investments in research and development.

The gel ice pack market size is expected to see rapid growth in the next few years. It will grow to $23.7 billion in 2028 at a compound annual growth rate (CAGR) of 17.4 The growth in the forecast period can be attributed to rising consumer awareness about health and wellness, efforts to reduce manufacturing costs, strengthening distribution networks, expansion of online retail platforms, and expansion of medical tourism. Major trends in the forecast period include hybrid packs, nanotechnology Integration, biodegradable gel packs, integrating antimicrobial properties into gel materials, and implementing carbon-neutral production processes.

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Market Drivers and Trends:

The increasing use of ice packs in chronic pain is expected to propel the growth of the gel ice packs market going forward. Chronic pain cases are increasing due to factors such as an aging population, sedentary lifestyles, obesity, and the rising prevalence of conditions like arthritis and diabetes. Gel ice packs are useful in managing chronic pain by reducing inflammation, numbing painful areas, and alleviating discomfort through localized cooling therapy. For instance, in the April 2023, Center for Disease Control and Prevention (CDC), a US-based national public health agency, during 2021, approximately 20.9% of U.S. adults (51.6 million people) reported experiencing chronic pain, and 6.9% (17.1 million people) experienced high-impact chronic pain, which significantly limits daily activities. Therefore, increasing use of ice packs in chronic pain is driving the growth of the gel ice packs market.

Major companies operating in the gel ice pack market are developing compostable gel packs to address environmental concerns and meet the growing demand for sustainable packaging solutions. Compostable gel packs are eco-friendly cooling packs that decompose naturally, making them ideal for sustainable shipping perishable goods. For instance, in August 2022, Pelton Shepherd Industries, a US-based provider of dependable and sustainable cold chain shipping solutions, including gel packs, introduced Terra Ice. Terra Ice is the first 100% compostable gel pack made from BPI-certified compostable film and natural gelling agents. Terra Ice eliminates the need to open the pouch, recycle, or rinse the gel pack, providing a more convenient and sustainable disposal option than traditional gel packs.

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Major Key Players of the Market:

Medline Industries LP, Ace Hardware Corporation, Sonoco Products Company, Sigma - Aldrich, Intco Medical Technology, Cold Chain Technologies LLC, Lifoam Industries LLC, Ranpak Holdings Corp., Cryopdp, Cryopak Industries Inc., Polar Tech Industries, Nordic Cold Chain Solutions, Pelton-Shepherd Industries Inc., Stream Peak International Pte Ltd, Valor Industries, Sammons Preston, Insulated Products Corp., Techni Ice, Satyog Engineering Industries, Polar Bear Coolers, Cold Ice Inc., Inuteq, M/s Innova Global, Kalyani Enterprises, Gelpackdirect

Gel Ice Pack Market 2024 Key Insights:

• The gel ice pack market size is expected to see rapid growth in the next few years. It will grow to $23.7 billion in 2028 at a compound annual growth rate (CAGR) of 17.4%.
• Growing Demand For Gel Ice Packs Driven By Rising Chronic Pain Cases
• Innovation in Sustainable Ice Pack Solutions
• North America was the largest region in the gel ice pack market in 2023

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