Cold Chain Market by Type (Refrigerated Storage and Refrigerated Transport), Temperature Type (Chilled and Frozen), Application (Dairy & Frozen Desserts, Fish, Meat, and Seafood Products, Bakery & Confectionery Products, Fruits & Vegetables and others) - Global Analysis & Forecast 2019-2030
Report ID : 156 | Published Date : May 2020 | Pages : 220 | Region : Global | Report Code : FB-13
Cold Chain Market Overview and Introduction
Cold chain Market is estimated to be valued at US$ 217 billion in 2019. The market is anticipated to further grow at a CAGR of 7.0% from 2019 to 2030.
The Cold chain is a term used for management and carry out cold storage facilities such as transporting, storing and monitoring products within a recommended temperature range. Most common range for a cold chain in pharmaceutical industries is 2 to 8 °C and it is depend on specific temperature tolerances of product. Moreover, cold chains enable to preserve and ensure the shelf-life of products are maintained, product such as fresh agricultural products, seafood, frozen food, photographic film, chemicals, and pharmaceutical drugs are commonly stored in cold chain for transportation.
The global cold chain market is driven by increasing consumers demand for shelf-life foods, growth of international trade, and expansion of food retail industry have been pivotal in contributing to the extensive growth of the global cold chain market. Moreover, expansion in emerging market such as China, India, and Brazil offers lucrative opportunities, with the growing infrastructure and government initiatives. However, high energy and infrastructure cost is likely to restrain the market to a certain extent.
The global cold chain market has primarily been segmented into the following categories, viz. By Type, By Temperature Type and By Application.
Cold Chain Market By Type
The segment of type can be majorly classified into refrigerated storage and refrigerated transport. The refrigerated storage is anticipated to hold the largest market share in the global cold chain market. Refrigerated storage segment has drastically grown owing to the increased need to reduce wastage of perishable foods.
Cold Chain Market By Temperature Type
The segment of temperature type can be majorly classified into chilled and frozen. The frozen segment is estimated to account for the largest share in the global cold chain market. The large share of this temperature type segment can be attributed to the wide scale application including harvest, collection, packing, processing, storage, transport, and marketing, until it reaches the final consumer.
Cold Chain Market By Application
The segment of application can be majorly classified into dairy & frozen desserts, fish, meat, and seafood products, bakery & confectionery products, fruits & vegetables and others. In terms of market share, the segment of dairy & frozen desserts is estimated to account for the largest market share, owing to increasing economic growth, rapid urbanization, and the use of sophisticated. Similarly frozen fruits & vegetables are often available and easy to open and re-sealable are likely to drive the growth of the segment.
Cold Chain Market By Region
The global cold chain market can be segmented into North America, Europe, Asia Pacific, and Rest of World (ROW). Europe dominated the market of cold chain, followed by Asia Pacific and North America. Europe will continue to dominate the global cold chain market in the forecast period owing to factors such as continuous increase in demand of domestic consumption of high-quality perishable commodities. However, Asia Pacific shows a significant growth for the cold chain industry. Factor such as rise in consumer demand for perishable foods, increasing awareness about the prevention of food wastage before consumption, and government support & initiatives in this sector.
Cold Chain Market Prominent Players
The prominent players in the global cold chain market are Burris Logistics, Americold Logistics, LINEAGE LOGISTICS HOLDING, LLC, NICHIREI CORPORATION., Swire Cold Storag, Agro Merchants Group, Kloosterboer Group B.V., Interstate Cold Storage, Inc., VersaCold Logistics Services, Aamong others.