)--The global reusable icepacks market is expected to post a CAGR of around 8% during the period 2020-2024, according to the latest market research report by Technavio. https://www.technavio.com/talk-to-us'report=IRTNTR40024
As per Technavio, the increasing adoption of environmental-friendly icepacks will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2020-2024.Global Reusable Icepacks Market: Increasing Adoption of Environmental-Friendly Icepacks
Many corporates and manufacturing facilities are undertaking eco-friendly initiatives to increase the use of biodegradable plastics in packaging. In addition, factors such as growing environmental concerns and government regulations are compelling vendors to focus on the development of biopolymer-based plastics. Biopolymers are made of renewable materials derived from corn, wheat, and sugarcane. The use of bio-based plastics is also helping vendors reduce emissions and overall carbon footprint. The emergence of bioplastics is expected to have a positive influence on the growth of the global reusable icepacks market during the forecast period.“Apart from the increasing adoption of environmental-friendly icepacks, growing outsourcing of pharmaceutical manufacturing and rapid industrialization and economic growth in emerging markets are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.Register for a free trial today and gain instant access to 10,000+ market research reports.
by product (ice/dry icepacks, refrigerant gel-based icepacks, and chemical-based icepacks), application (food and beverage, medical and healthcare, and chemicals), and geography (APAC, Europe, MEA, North America, and South America).
The North America region led the market in 2019, followed by APAC, Europe, South America, and MEA, respectively. During the forecast period, the North America region is expected to maintain its dominance over the global market. This is due to the high domestic production of fruits and vegetables and meat in the region.Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.