Cold Chain Market Synopsis:
The expansion of the cold chain market is primarily fueled by reasons such as rising consumer awareness of the need to reduce food waste and rising desire for organised retail and e-commerce. In addition, the rising demand for perishable items is a result of customers’ inclination for a healthy lifestyle. Moreover, recent technical improvements in cold chain to support the food & beverage sector and prevent food quality degradation are contributing to the expansion of the market’s revenue. Moreover, cold chain is a temperature-controlled supply chain for specialised products, such as dairy & frozen desserts, meat & seafood, fruits & vegetables, bakery & confectionery, pharmaceuticals, and others, which ensures the safety and quality of food items for end-use applications, thereby driving market revenue growth.
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In developing economies, the demand for refrigerated storage is driven by a transition from carbohydrate-rich to protein-rich diets as a result of increased consumer awareness. A consumer-led change in the economy is anticipated to result in a large growth rate in countries such as China during the next few years. With increasing technical advances in warehouse management and refrigerated transport, the market is projected to rise in developing nations.
Increasing government subsidies have also enabled service providers to access these burgeoning markets with novel transportation solutions. The purpose of cold chain services is to ensure that temperature-sensitive products are transported and stored under optimal circumstances. Increasing demand for perishable goods and fast delivery needs in the e-commerce-based food and beverage delivery business have led to a considerable increase in cold chain operations.
Cold Chain Market Dynamic:
Market Drivers: The consumer demand for perishable foods is on the rise: Consumers are becoming increasingly cognisant of their health and well-being, as well as the impact that food components, particularly protein, have on their complete physical and mental development. Consumption patterns for perishable items, such as dairy products, fruits and vegetables, and high-protein animal products, have shifted as a result (such as meat, eggs, fish, and seafood).
Initiative from the federal government to reduce food waste: a number of nations are adopting measures to reduce food and agricultural waste. Increased government subsidies have permitted service providers to access these expanding markets with innovative mobility solutions. Cold chain services are intended to transport and store temperature-sensitive goods under ideal conditions.
Cold chain is required for pharmaceuticals: Due to the rise of pharmaceuticals, which requires precise temperature and time management, logistical support for the cold chain has become a necessity. Hydrotherapy is both a biomedical test and a regulator medication in the form of steam cells, and it is driving the trends in modern medicine that demand temperature management to preserve efficiency and quality.
Expected to propel the market ahead are dairy and frozen desserts: As urbanisation has expanded, so has the demand for simple food products. In addition, the growing demand of consumers for convenience and extended shelf life is helping to the popularity of nutritious frozen meals, which is supporting the expansion of dairy and frozen sweets. Due to the significance of food quality, the dairy and frozen dessert industries are investing heavily in technologies that can help differentiate and support products.
The key players in this industry are AGRO Merchants, Lineage Logistics, Preferred Freezer, Burris Logistics and Nichirei Logistics, Americold Logistics, Kloosterboer, Interstate Warehousing, VersaCold Logistics, and Swire Cold Storage. The detailed description of players includes parameters such as company overview, financial overview, business strategies, and recent developments of the company.
This report segments the Global Cold Chain Market as follows:
Global Cold Chain Market: Product Type Segment Analysis
- Refrigerated Storage
- Refrigerated Transport
Global Cold Chain Market: Temperature Type Segment Analysis
Global Cold Chain Market: Application Segment Analysis
- Fruits & vegetables
- Bakery & confectionery products
- Dairy & frozen desserts
- Fish, meat, and seafood products
- Pharmaceutical & Others
Global Cold Chain Market: Regional Segment Analysis
- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa