Global “Cold Chain Market” 2022 by Manufacturers, Regions, Type and Application, Forecast to 2028
The global Cold Chain market is expected to register a significant CAGR 7.24% during the forecast period 2022-2028. According to Market growth reports latest research Cold Chain Industry Know-how optimization stages are solutions which deliver an organization the ability to know the requirement of every individual customer and suggestion the best possible experience for them across all touch points.
The cold chain market was valued at USD 182.57 billion in 2022, and is expected to reach USD 277.69 billion by 2028, recording a CAGR of 7.24%, during the forecast period of 2022-2028. The market has been segmented by type (storage and transportation), application, and region.
The increasing trade of perishable products and rising government support for the development of infrastructure for cold chain facilities are anticipated to drive market’s growth, over the forecast period. The cold chain service providers are also adopting cutting-edge technologies, to cater to the increasing demand for food safety, in processed foods. This is expected to offer ample opportunities, thereby boosting the proliferation of numerous multinational vendors into the market, in order to provide better cold chain solutions.
Stringent food safety regulations, such as the Food Safety Modernization Act, which requires increased attention toward construction of a cold storage warehouse, are further expected to benefit the market. However, issues related to environmental concerns regarding the emission of greenhouse gas are estimated to challenge the growth of the market studied.
Dairy and Frozen Dessert Expected to Fuel the Growth
Increasing urbanization has led to an increase in the demand for convenient food products. Moreover, the rising inclination of consumers towards ease of use and improved shelf life are leading to the adoption of healthy frozen meals, thus driving the growth of dairy and frozen desserts. According to the US Census Bureau, the value of the United States’ product shipments of frozen specialty foods has increased by 16%, between 2010 and 2016. As food quality is of paramount importance, the dairy and frozen dessert industry is investing heavily in technologies that can support and create product differentiation.
Moreover, the World Trade Organization (WTO) and bilateral free trade agreements, such as European Union Free Trade Agreement (FTA) and the North America Free Trade Agreement (NAFTA), have created opportunities for exporters in the United States and Europe, to increase trade of perishable foods that are free of import duties. This factor is expected to further drive the demand for better cold chain infrastructure facilities for dairy and frozen desserts, to provide ideal transportation and storage conditions.
Asia-Pacific Expected to Account for a Substantial Market Share
The established Asia-Pacific electronics industry and adoption of innovative technologies have provided the organizations in the region a competitive edge, in the market. Moreover, the region enjoys the presence of several major cold chain vendors, such as Swire Cold Chain Logistics (Shanghai) Co. Ltd (China) and Orient Overseas (International) Limited (Hong Kong), among others.
The rising trend of purchasing perishable food products online has evolved the need for innovative solutions to provide last-mile delivery, automated warehouses to manage inventories, and advanced temperature monitoring devices to maintain the safety of fresh food products. According to the National Statistics Bureau, in , online purchases accounted for about 10.8% of China’s retail sales. In online sales, vegetables and fruits accounted for a share of 55.2%, followed by meat and egg (at 17.4%). This growth has also encouraged around 4,000 companies to build their applications on smartphones, which specialization of fresh food sales, in 2016. Emerging economies (such as China, India, and Thailand) are investing in warehouse automation technologies (i.e., cloud technology, robots, conveyor belts, truck loading automation, etc.,) to maintain the quality of temperature-sensitive products. According to the Global Cold Chain Alliance (GCAA), China has recorded a 41% growth in its refrigerated warehouse capacity, between 2014 and 2016, to reach about 107 million m3.
In addition, the governments across the region are working with industry associations, to introduce a series of policies and standards, to regulate and promote the development of cold chain facilities. In 2016, the Chinese government emphasized the development of cross-region cold chain logistics industry, through pilot projects. Major companies, such as ITC Ltd, are also pursuing long-term strategies, to build cost-effective cold chains that contribute to the reduction of wastage in the food industry, further reinforcing the demand for cold chain facilities, in Asia-Pacific.
Who are some of the Top Manufacture operating in the Cold Chain market and how high is the competition 2022?
- CWT Pte. Limited
- Americold Logistics
- LLC
- Nichirei Corporation
- Lineage Logistics Holdings
- LLC
- Orient Overseas (International) Limited
- VersaCold International Corporation
- AGRO Merchants Group
- LLC
- Burris Logistics Inc.
- JWD Group
- Inc.
- Swire Cold Chain Logistics (Shanghai) Co. Ltd.
- XPO Logistics
- Inc.
- Swift Corporation Company
- DHL International GmbH
And More
{ Impressive Compound annual growth rate (CAGR) 7.24% With Multiple million USD }
Get a Sample PDF of Cold Chain Market 2022
Cold Chain Market Research Report provides exclusive data, information, vital statistics, trends, and competitive landscape details in this niche sector.
The report covers the key players of the business including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin Sales with an exhaustive investigation of the market’s competitive landscape and definite data on vendors and thorough subtleties of elements that will challenge the development of significant market vendors.
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Key questions answered in this report: –
- What will the Cold Chain market size be in 2028 and what will the growth rate be?
- What are the key Cold Chain market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this Cold Chain market space?
- What are the Cold Chain market opportunities and threats faced by the key vendors?
Top countries data covered in this report:
- North America (U.S., Canada, Mexico)
- Europe (U.K., France, Germany, Spain, Italy, Central and Eastern Europe, CIS)
- Asia Pacific (China, Japan, South Korea, ASEAN, India, Rest of Asia Pacific)
- Latin America (Brazil, Rest of L.A.)
- Middle East and Africa (Turkey, GCC, Rest of Middle East)
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With tables and figureshelping analyze Global Cold Chain Market Forecast provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market
Detailed TOC of 2022- 2028 Cold Chain Market Research Report – Regional Analysis, Top Players, Growth, Shares, Revenue
- Introduction
1.1 Study Deliverables
1.2 General Study Assumptions - Research Methodology
2.1 Introduction
2.2 Analysis Methodology
2.3 Study Phases
2.4 Econometric Modelling - Executive Summary
- Market Overview and Trends
4.1 Introduction
4.2 Market Trends
4.3 Porter’s Five Force Framework
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products and Services
4.3.5 Competitive Rivalry within the Industry - Market Dynamics
5.1 Drivers
5.2 Restraints
5.3 Opportunities
5.3.1 Growing Demand
5.3.2 Increasing Demand - Cold Chain Market, Segmentation by Material Type
- Cold Chain Market, Segmentation by Type
- Cold Chain Market, Segmentation by Vehicle Type
- Cold Chain Market, Segmentation by Geography
9.1 North America
9.1.1 United States
9.1.2 Canada
9.1.3 Mexico
9.1.4 Others
9.2 South America
9.2.1 Brazil
9.2.2 Argentina
9.2.3 Others
9.3 Asia-Pacific
9.3.1 China
9.3.2 Japan
9.3.3 India
9.3.4 Others
9.4 Europe
9.4.1 United Kingdom
9.4.2 Germany
9.4.3 France
9.4.4 Others
9.5 Africa and Middle East
9.5.1 UAE
9.5.2 South Africa
9.5.3 Saudi Arabia
9.5.4 Others - Competitive Landscape
10.1 Introduction
10.2 Market Share Analysis
10.3 Developments of Key Players - Key Vendor Analysis (Overview, Products and Services, Strategies)
- Future Outlook of the Market
- Disclaimer
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