The Cold Chain Global Market Report 2023 by The Business Research Company, provides cold chain market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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https://www.thebusinessresearchcompany.com/report/cold-chain-global-market-report
According to The Business Research Company’s Cold Chain Global Market Report 2023, the global cold chain market size will grow from $270.55 billion in 2022 to $295.42 billion in 2023 at a compound annual growth rate (CAGR) of 9.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The size of cold chain market is expected to grow to $426.62 billion in 2027 at a CAGR of 9.6%.
Growing consumer demand for perishable foods contributed to the growth of the cold chain market in the historic period. The demand for perishable foods such as dairy products, fruits, vegetables, and meat is growing with the increasing urban population and changes in the eating habits of the populace. Consumers are shifting towards the purchase of perishable goods that have a long time until expiration, owing to the nature of perishability. Developing markets in the Asia-Pacific and Latin America are observing high demand for perishable food products.
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The cold chain market is segmented:
1) By Type: Refrigerated Warehousing, Refrigerated Transport
2) By Temperature Type: Frozen, Chilled
3) By Industry Vertical: Pharmaceutical, Healthcare, Food & Beverages, Chemical, Other Industry Verticals
Top Major Players:
Agro Merchants Group LLC
Americold Logistics
Lineage Logistics LLC
Nichirei Corporation
Burris Logistics Inc
North America was the largest region in the cold chain market in 2022.
Major companies operating in the cold chain market are continuously investing in automation solutions to survive in the competitive business environment. For instance, in January 2020, Kloosterboer, a Netherlands-based company engaged in providing innovative and sustainable solutions in the supply chain for temperature-controlled food products, invested in an automated and extremely sustainable reefer container terminal in its place in the port of Vlissingen. It was connected with 1020-reefer plugs and under the name of Kloosterboer container terminal Vlissingen. The container terminal was expected to be operational by mid-2020. The expectation is to process 250,000 TEU annually and was the first container terminal to use automatic cranes. In another instance, in 2020, US based cold chain provider FreezPak Logistics announced its plan to build a 140,000sq ft facility in New Jersey, which will be equipped with an automated storage and retrieval system, using 12 robots to store and retrieve products. The new facility aims at speeding up the distribution process and cutting lead times for customers.
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The cold chain market report table of contents includes:
1. Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
……………………………………………..
19. Company Profiles
20. Key Mergers and Acquisitions
21. Market Opportunities And Strategies
22. Cold Chain Market, Conclusions And Recommendations
23. Appendix
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