According to the current analysis of Reports and Data, the global Cold Chain Market was valued at USD 197.2 Billion in 2018 and is expected to reach the value of USD 358.2 Billion by the end of the year 2026, at a CAGR of 7.7%. The cold chain market is considered to be the backbone of the agricultural industry. The cold chain consists of pre-cooling, refrigerated storage, and refrigerated transport of perishable food products. Despite the increasing importance of cold chain processes in food and pharmaceutical industry, the prevalence of cold chain management is still very weak in most of developing countries. Due to expansion in the food industry coupled with initiatives taken by the government to reduce food wastage, cold chain infrastructure has increased extensively in past years. Developing an undisturbed chain of storage and distribution of perishable products is highly crucial in order to help the farmers gain higher value for their produces and ensure safe and quality product delivery to the end-users.
On the basis of regional perspective, Europe is expected to lead the market in the forecasted period. It reported the value of USD 56,348.2 million in 2018, and is expected to grow at a CAGR of 7.5% to reach the value of USD 100,912 million by the end of the year 2026. Growing demand for consumption of high-quality perishable commodities, and initiative taken by government for the safety of pharmaceutical product in transportation are the driving factors for its growth.
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Key participants include:
- Americold Logistics LLC
- Burris Logistics
- Lineage Logistics Holding
- LLC, Preferred Freezer Services Inc.
- Nichirei Logistics Group Inc.
- Nordic Logistics and Warehousing LLC.
- Swift Transportation
- Trenton Cold Storage
- Interstate Cold Storage Inc.
- Henningsen Cold Storage Co.
- VersaCold Logistics Services
Further key findings from the report suggest
- The cold chain market is growing at a CAGR of 5% in the Asia Pacific region, followed by Europe and North America, with 7.5 % and 7.4% CAGR, respectively. Increase in food spoilage coupled with an increase in demand for high-quality perishable products is expected to drive the growth of the cold chain market.
- Europe is the dominating cold chain with the highest market share of around 28.6% of the global market. European regional market is the chief revenue-generating source for this product segment, followed by Asia Pacific and North American regions.
- With an increase in food-borne diseases, people are more concern about the quality and the safety of the food product. Various techniques are deployed in order to test the quality of the frozen food product. For example, gas chromatography is performed on the food product to ensure it meets the quality standards throughout the delivery process.
- Apart from the food industry, cold chain logistics play a crucial role in the pharmaceutical industry. If a particular medicine is kept in a temperature range, that exceeds its ‘safe range’, the medicine will lose its effectiveness and in some cases, jeopardize the health of a patient.
- Cold chain logistics companies are introducing facilities for the consumers to track their package product in every facet of logistic process in order to make this possible; no weak-links in the logistic process must be present to enable maximum satisfaction to the customers.
- Cold-storage service helps in extending the shelf-life of perishable food products by retaining the moisture content in them and thus provide prevention from drying along with delaying the chemical reaction taking place in the food production leading to spoilage of food.
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Segments covered in the report:
For the purpose of this report, Reports and Data has segmented the Cold chain market on the basis of type, temperature type, application type, technology, and region:
Type (Volume in Thousands Unit; Revenue in USD Million; 2016–2026)
- Refrigerated Storage
- Refrigerated Transport
Temperature Type (Volume in Thousands Unit; Revenue in USD Million; 2016–2026)
- Chilled
- Frozen
Application Type (Volume in Thousands Unit; Revenue in USD Million; 2016–2026)
- Dairy and Frozen Desserts
- Meat and Seafood
- Fruits and Vegetables
- Bakery and Confectionery
- Pharmaceutical
- Others
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Regional Outlook (Volume in Thousands Unit; Revenue in USD Million; 2016–2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
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