Overview and Scope
Cold chain refers to the process of controlling the temperature of perishable goods from the point of origin through the distribution network to the final consumer to ensure quality and safety. These services are used for the management and transportation of temperature-sensitive products through refrigeration, thermal packaging, and other methods.
Sizing and Forecast
The cold chain market size has grown rapidly in recent years. It will grow from $365.57 billion in 2023 to $411.95 billion in 2024 at a compound annual growth rate (CAGR) of 12.7%. The growth in the historic period can be attributed to strong economic growth in emerging markets, growth in world population, increase in food export and increasing demand from end-use industries.
The cold chain market size is expected to see rapid growth in the next few years. It will grow to $679.31 billion in 2028 at a compound annual growth rate (CAGR) of 13.3%. The growth in the forecast period can be attributed to global population growth and urbanization, rapid growth in ecommerce, increasing consumption of packaged food, food security initiatives and increasing demand from end-use industries. Major trends in the forecast period include focusing on sustainability initiatives, focusing on quality and product sensitivity, leveraging internet of things (iot), focusing on smart warehousing, outsourcing processes to third-party logistics and focusing on strategic investments.
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Segmentation & Regional Insights
The cold chain market covered in this report is segmented –
1) By Type: Refrigerated Warehousing, Refrigerated Transport
2) By Temperature Type: Frozen, Chilled
3) By Industry Vertical: Pharmaceuticals And Healthcare, Food And Beverages, Chemicals, Other Industry Verticals
North America was the largest region in the cold chain market in 2023. Asia-Pacific region is projected to record the fastest growth over the forecast period. The regions covered in the cold chain market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
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. For instance, in 2021, according to India-based retail intelligence platform, Bizom, which tracks the sales of 7.5 million retail stores across India, sales of ready-to-eat products increased by 9.1% in August from July 2021. Hence, the increasing consumption of packaged and convenience food is expected to drive the cold chain market in the forecast period. Thus, growing consumer demand for perishable foods supported the cold chain market.
Key Industry Players
Major companies operating in the cold chain market report are Americold Logistics, Burris Logistics, Nichirei Corporation, United States Cold Storage, Lineage Logistics Holdings, VersaCold Logistics Services, Tippmann Group, Congebec Inc, Snowman Logistics Ltd, Conestoga Cold Storage, Cold Box India LLP, Rinac India Limited, Singhania Logistics & Distribution Pvt. Ltd, Sinotrans Shanghai Cold Chain Company, Kerry Logistics Network Limited, Global Cold Chain Solutions, Valley Food Storage, ACS&T Logistics, VIMA Foods, Logifrio, Cabezuelo Foods, Ebro Foods, CRS IE, Maersk, Ruzave, FREJA Transport & Logistics, Priority Freight, Dropex, Internel Sp. z o.o, NATANEX, PUH Jamax, Fructus Transport, Artrans Transport, DH Warehousing & Fulfillment Ltd, Belleair Storage, Sysco EastTexas LLC, Freedom Warehousing and Solutions, Sam Dune Enterprises, Des Moine Cold Storage Co, Paige Logistics Ltd, N&N Logistics Inc, XPO Logistics, Legacy Logistics, Localfrio S/A, Brado Logistica S/A, ComFrio, Friozem Armazens Frigorificos Ltda, Martini Meat S/A, Agility, Al Futtaim, RSA Cold Chain, Sharjah cold stores, Tameem logistics, APG Logistics, GEFCO South Africa, Value Logistics, Transnova, KAP Industrial Holdings Limited, Tsiko Africa Group, Bakers SA Limited
The cold chain market report table of contents includes:
1. Executive Summary
2. Cold Chain Market Characteristics
3. Cold Chain Market Trends And Strategies
4. Cold Chain Market – Macro Economic Scenario
5. Global Cold Chain Market Size and Growth
…
32. Global Cold Chain Market Competitive Benchmarking
33. Global Cold Chain Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Cold Chain Market
35. Cold Chain Market Future Outlook and Potential Analysis
36. Appendix
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