Cold Chain Market Size, Share & Industry Analysis, By Technology (Programmable Logic Controller, Vapor Compression, Blast Freezing, Others), By Type (Transport , Refrigerated Storage), By Application (Bakery & Confectionary, Processed Food, Dairy & Frozen Food, Fruits & Vegetables, Meat & Seafood) And Regional Forecast, 2024-2032

Region :Global | Report ID: FBI104317 | Status : Ongoing

KEY MARKET INSIGHTS

Cold chain market is a proficient system that involves refrigerated and thermal packaging methods to ensure the safety of temperature-sensitive products while transportation. Cold chain is widely used across the global food & beverage industry to protect the products from any damage caused due to temperature.

Advancements in refrigerated and warehouse technology, coupled with a growing number of specialized retail stores and adoption of innovative technologies by cold chain service providers are further expected to fuel the growth of the cold chain market during the forecast period.

Cold chain market is projected to expand crucially over the forecast period, owing to increasing trade, demand, and consumption of perishable food products across the globe. Rising governmental focus on the development and improvement of cold chain infrastructure, coupled with increased strictness on food safety regulations are expected to propel the growth of the global cold chain industry in the forthcoming years.

However, negative environmental impacts posed by cold chain systems, such as the emission of harmful greenhouse gases, can restrain the growth of the global cold chain market in the upcoming years.

Key Market Driver -

Increasing Trade and Demand for Perishable Foods

Key Market Restraint -

Negative Environmental Impact of Cold Chain

Key Players Covered:

The key companies operating in the global cold chain market are

Agro Merchants Group LLC

Americold Logistics LLC.

Burris Logistics Inc.

Swire Group

Al Rai Logistica K.S.C.

Swire Cold Storage

Cold Chain Technologies Inc.

VersaCold Logistics Services

Nichirei Corporation

Lineage Logistics.

Among type, refrigerated storage segment is expected to expand exponentially over the forecast period, due to changing lifestyle and diet of global population and their rising preference towards frozen, packaged, and convenience food. Overall growth in the food & beverage industry has led to increased trade of food and beverage among countries that is leading to the increased demand for insulated containers, high-cube refrigerated trailers, advanced refrigerated trucks, and other vehicles for the transportation of products. This is a significant reason that can efficiently push the growth of the transport segment in the global cold chain market during the forecast period.

Processed food is expected to be the leading application segment for the cold chain market, due to their rising demand and adaptation of innovative packaging materials in the packaging of processed food such as barrier packaging.

Fruits & vegetables segment is expected to be growing smoothly due to the anticipated increase in their trade-in in upcoming years. According to the Agricultural & Processed Food Products Export Development Authority (APEDA), India, which is the second-largest producer of fruits and vegetables, exported fruits & vegetables of worth USD 1.45 billion in the year 2017-18.

Regional Analysis:

North America is projected to be leading the global cold chain market during the forecast period, due to the higher demand for fresh products by the population of the region. According to research findings, in 2017, the cold warehouse capacity of the United States witnessed a rise of 4.6 percent due to higher reliance on cold chain systems for food & beverage storage and distribution.

Asia Pacific is expected to rise swiftly in the global cold chain market during the forecast period, owing to rising penetration and adoption of advanced warehouse management tools and systems by the region. The presence of a well-established agriculture sector in countries such as India and China are expected to create great scope for export of products and hence expected to boost the growth of the cold chain industry of the region.

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Cold Chain Market Segmentation Analysis

ATTRIBUTE	DETAILS
By Technology	Programmable Logic Controller Vapor Compression Blast Freezing Others
By Type	Transport Refrigerated Storage
By Application	Bakery & Confectionary Processed Food Dairy & Frozen Food Fruits & Vegetables Meat & Seafood
By Geography	North America (U.S., Canada, and Mexico) Europe (Germany, France, Italy, Spain, U.K., Russia, and Rest of Europe) Asia Pacific (China, India, Japan, Australia, and Rest of Asia Pacific) South America (Brazil, Argentina, and Rest of South America) Middle East & Africa (South Africa, UAE, and Rest of ME&A)

Key Industry Developments

In November 2018, Lineage Logistics Holdings LLC., announced the successful acquisition of Yearsley Group Limited, a UK based leading frozen food distributor and temperature-controlled logistics service provider. This step was a strategic step by Lineage to improve their market prominence in UK along with enhancing their international reach.

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PUBLISHING STATUS: Ongoing
BASE YEAR: 2023
HISTORICAL DATA: 2019-2022

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