Overview and Scope
Perishable goods sea transportation refers to the transportation of temperature-sensitive goods by sea in refrigerated ships outfitted with proper air circulation systems and temperature-controlled intermodal cargo containers.
The perishable goods sea transportation market size has grown strongly in recent years. It will grow from $1.93 billion in 2023 to $2.09 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to globalization of supply chains, increased demand for fresh and frozen foods, stringent quality and safety standards, rise in consumption of exotic foods, government initiatives supporting export, growing importance of cold chain logistics..
The perishable goods sea transportation market size is expected to see strong growth in the next few years. It will grow to $2.84 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to evolving consumer preferences for freshness, expansion of emerging markets, introduction of advanced packaging solutions, global efforts to reduce food waste, rising demand for organic and locally sourced products.. Major trends in the forecast period include technology integration, direct-to-consumer trends, digital platforms for booking and tracking, risk mitigation strategies, adoption of smart technologies in cold chain management, integration of real-time monitoring systems..
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Segmentation & Regional Insights
The perishable goods sea transportation market covered in this report is segmented –
1) By Type: Domestic Transportation, Outbound Transportation
2) By Order Type: Export, Import
3) By Application: Meat Chicken, Fish And Shellfish, Vegetables And Fruits, Bread Candy And Snacks, Dairy Products And Frozen Desserts, Other Applications
North America was the largest region in the perishable goods sea transportation market in 2023. Asia-Pacific is expected to be the fastest-growing region in the perishable goods sea transportation market report during the forecast period. The regions covered in the perishable goods sea transportation 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
The rising demand for processed food across the globe is expected to propel the growth of the perishable goods sea transportation market forward. Processed foods refer to any foods that have been altered in some way during preparation from their natural states, such as being washed, heated, pasteurized, canned, cooked, frozen, dried, dehydrated, mixed, baked, or packaged. Perishable goods sea transportation is used to transport processed food in refrigerated ships that are fully equipped with air circulation systems to ensure the freshness of the food. For instance, in 2022, according to an article shared by Soocial, a US-based branding firm specializing in slogans, premium domain names, and brand naming, one in every five people in the UK consumes prepared meals every week. The market share for ready-to-eat food in North America was 41.4% last year. Therefore, the rising demand for processed food across the globe is driving the growth of the perishable goods sea transportation market forward.
Key Industry Players
Major companies operating in the perishable goods sea transportation market are developing advanced technologies such as freight movement technology to meet larger customer bases, more sales, and increase revenue. Freight movement technology refers to the application of advanced technological solutions and systems to enhance the efficiency, visibility, and management of the transportation of goods and cargo across the supply chain. For instance, in March 2023, ArcBest Corporation, a US-based transport company, launched Vaux, an advanced combination of hardware and software designed to revolutionize and modernize the processes of loading, unloading, and transferring freight. Distinguished by its unique features, Vaux facilitates the rapid unloading of an entire trailer in less than five minutes, providing comprehensive visibility into freight movement across warehouse facilities, on the dock, and during road transport. The Vaux Freight Movement System, comprising the Vaux MP and MP Coupler, allows freight handling operators to achieve swift loading and unloading of full trailers. Seamlessly integrating into warehouse operations, this technology is powered by the Vaux OS—a proprietary software suite encompassing warehouse orchestration, operator fulfillment, and MP Tracker, ensuring extreme efficiencies and seamless coordination in warehouse operations.
The perishable goods sea transportation market report table of contents includes:
1. Executive Summary
2. Perishable Goods Sea Transportation Market Characteristics
3. Perishable Goods Sea Transportation Market Trends And Strategies
4. Perishable Goods Sea Transportation Market – Macro Economic Scenario
5. Global Perishable Goods Sea Transportation Market Size and Growth
…
31. Global Perishable Goods Sea Transportation Market Competitive Benchmarking
32. Global Perishable Goods Sea Transportation Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Perishable Goods Sea Transportation Market
34. Perishable Goods Sea Transportation Market Future Outlook and Potential Analysis
35. Appendix
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