Industry Background:
An instant cold pack is a device that consists of two bags; one containing water, inside a bag containing ammonium nitrate, calcium ammonium nitrate, or urea. When the inner bag of water is broken by squeezing the package, it dissolves the solid in an endothermic reaction. This reaction absorbs heat from the surroundings, quickly lowering the pack's temperature. Instant cold packs are a convenient direct replacement for crushed ice used as first aid on sports injuries and can be carried as first aid to remote or wilderness areas where ice is unavailable.
According to AMA Research, the market for Instant Cold Packs is expected to register a CAGR of 5.6% during the forecast period to 2030. This growth is primarily driven by Unavailability of Ice at Emergency Situations
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | K Units |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Health Care Supplies sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Pfizer, Inc. (United States), Halyard Health (United States), Carex Health Brands (United States), BSN medical (Germany), Ice Power (Denmark), Dynarex (United States), Rapid Aid (Canada), Breg, Inc. (United States), Medtronic plc (Ireland), 3M (United States), Medline Industries, Inc. (United States), Cryopak (United States), Medline Industries (United States), Cardinal Health (United States), Mueller Sports Medicine (United States) and Yishun Icepack (China), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In December 2021, Ranpak Holdings Corp. acquired Recycold Cool Solutions BV, a manufacturer of sustainable cool packs.
In February 2021, Sofrigam announced its partnership with Logmore to create smart temperature-controlled packaging that prevents spoiling of the COVID-19 vaccines.The market is highly competitive due to the presence of several prominent vendors. Some vendors are adopting some organic and inorganic strategies such as merger, acquisition, partnership, product launches, among others in order to gain leading share within the market. Moreover, some of the players are focusing on technological advancements in order to cater the products as per the market necessities.
Influencing Trend:
Trend towards Online Sales
Market Growth Drivers:
Unavailability of Ice at Emergency Situations, The Rising Demand for Instant Cold Packs due to Lightweight and portable Nature and Growing Sports Injuries across the Globe
Challenges:
Availability of Substitutes Such As Gel or Clay Packs
Restraints:
Instant Cold Packs are not Reusable
Opportunities:
Upsurging Demand For Personal Use During Trekking
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Instant Cold Packs Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Instant Cold Packs Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Instant Cold Packs players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Instant Cold Packs Study Sheds Light on
The Instant Cold Packs Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Instant Cold Packs industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Instant Cold Packs industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.