The Global Cold Chain Market is presently worth USD 202.17 billion and is poised to amplify at a CAGR of 14.8% over 2022-2030, thereby amassing a valuation of USD 782.27 billion by end of the assessment timeline.
The combination of supply chain and temperature-controlled surface transportation is referred to as the “cold chain.” It describes freezing procedures intended to maintain the quality and shelf life of goods such fresh vegetables, seafood, frozen foods, photographic film, chemicals, and pharmaceutical medications. For extending marketing periods, avoiding overcapacity, minimising transit bottlenecks during peak hours, and preserving product quality, cold chains are essential. Products are distributed using cold-insulated transport trucks and temperature-controlled warehouses for storage.
During the projected period, industry growth is anticipated to be fueled by the global automation of refrigerated warehouses and the increasing prevalence of connected devices. The demand for cold chain solutions will increase as organised retail outlets proliferate in emerging economies.
Additionally, over the course of the projected period, sector growth is anticipated to be aided by liberalisation, government initiatives to reduce food waste, and the expansion of retail chains by international corporations. Cold chain operations have significantly increased as a result of the rise in perishable product demand and the requirement for speedy delivery related to the e-commerce-based food and beverage delivery business.
However, as energy prices rise, providers of cold chain services are finding it challenging to cut their operating expenses. In addition, it’s anticipated that the process of design and operation will be challenging due to high energy and real estate prices. Another significant obstacle to the market’s expansion is a shortage of qualified personnel.
This cold chain market report details recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, and geographic information. Contact our team for an Analyst Brief to learn more about the Cold Chain market, and we’ll help you make an informed choice to expand your business.
Global Cold Chain Market- Key trends
Growing government subsidies will help the market expansion
Additionally, rising government subsidies have given service providers the opportunity to enter these burgeoning markets with creative transportation-related solutions. For products that need to be transported and stored under optimal temperatures, cold chain services are designed. Cold chain operations have seen a considerable increase due to the rising demand for perishable goods and the quick delivery needs connected with the e-commerce-based food and beverage delivery business.
Rising consumer awareness will drive the market growth
Due to growing consumer awareness, diets that are high in protein are replacing those that are high in carbohydrates in developing economies. Due to a shift in the economy that is being driven by consumers, nations like China are predicted to show a significant growth rate in the upcoming years. The market is projected to rise in developing nations as a result of increasing technological developments in refrigerated transportation and warehouse management.
Global Cold Chain Market- Segmental assessment
By product type
• Refrigerated storage
• Refrigerated transport
By temperature type
• Fruits and vegetables
• Bakery and confectionary products
• Dairy and frozen desserts
• Fish, meat, and seafood products
• Pharmaceutical and others
Global Cold Chain Market- Competitive landscape
The prominent companies defining the competitive terrain of this marketplace are AGRO Merchants, Lineage Logistics, Preferred Freezer, Burris Logistics and Nichirei Logistics, Americold Logistics, Kloosterboer, Interstate Warehousing, VersaCold Logistics, Swire Cold Storage, and others.
Frequently Asked Questions
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What are the major drivers which aid the Global Cold Chain Market?
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