Cold Chain Market earned USD 246

Gmiseo22
Gmiseo22 7/11/2023 1:15:58 PM

Cold Chain Market earned
USD 246.2 billion in 2021
and to reach USD 469.4 billion in 2029


A method of transporting and storing temperature-sensitive goods, such as food, pharmaceuticals, and chemicals, in a controlled environment to preserve their quality and integrity is referred to as the cold chain market. It includes a sequence of refrigerated coordinated operations and capacity exercises to guarantee that the items are kept inside unambiguous temperature ranges all through the inventory network, from creation to utilization. The value of cold chain market is estimated as 246.2 billion USD in 2021 and is expected to touch 469.4 billion USD in the year 2029 . Whereas the market is expected to have a CAGR of 8.4 % from 2022 -2029, due to the increase in demand for convinced food products with high shelf life.

Various factors such as perishable food items, rise in the organized retail outlets in developing countries, and growing awareness among consumers about reducing food wastage are boosting the growth of Global Cold Chain Market. As people are getting more concerned about their health and fitness and started to recognise the importance of nutrients for overall health. Consumption of fruits, vegetables and dairy products has increased which is increasing the demand of cold chain market.  Worldwide the government is launching policies to reduce food and agriculture waste to support cold chain market. The government of India had launched a PM Kisan SAMPADA Yojana. The main motive of this yojana is to reduce the food and agriculture waste and the increase the demand of food processing industry in India.  Under this PM Kisan SAMPADA Yojana scheme some of the components focuses on establishing integrated cold chain, mega food parks, expanding food processing and value addition infrastructure and preservation capacities in India.

The increasing need for temperature control to avoid wastage across the globe. the reason for increasing food wastage is lack of cold chain during processing, packaging, distribution, and consumption. according to the UNEP report 2021 17% of the food produced for human consumption is wasted which cost 936 billion USD every year worldwide. Due to the lack of proper refrigeration 26 billion tons of food produced is getting wasted which is 12% of global food production as per the International Institute of Refrigeration 2021. According to the UNEP 2022 the Indian farmers are facing a loss of 12520MN per year due to inadequate cold chain facilities and lack of energy infrastructure. To provide financial help for establishing the cold storage and to reduce the gap between the available resources and cold storage the Indian government had launched several programmes such as Mission for integrated development of horticulture and PM Kisan SAMPADA Yojana. 

 In food and beverage industry cold chain is getting popularity as it helps in maintaining the food quality and prevent it from spoiling which contributing towards the growth of the cold chain market. now a days consumers are shifting towards online plant form rather than offline as online stores are 24*7 available and offers   great variety of products with the benefit of home delivery which result in the growth of e-commerce platform and online grocery stores that is opening a new opportunity and challenges in the cold chain market. these challenges and opportunities are engrossing the demand for innovative solutions for last mile delivery, increasing need for automated warehouse to manage inventories and moder temperature monitoring system to ensure safety of food. Whereas some rising concerns regarding environment related to greenhouse gas emission may hinder the growth of cold chain market. factors such as lack of standardization, extensive operational and infrastructure cost might hinder the growth of the market. 

Based on Type, the Refrigerated Storage segment is expected to grow at the largest market share during the forecast period

Several factors such as demand for high cube, refrigerated trailers , advance refrigerated trucks and vehicles for transportation of product are boosting the segment growth in the trade of perishable commodities in the country .increasing preferences for packed food ,along with dietary pattern and changed lifestyle of consumers are propelling the demand of frozen food market. It is helping to the growth for storage solution across the globe. 

Based on Temperature Type, the Chilled segment is projected to increase during the forecast period

Chilling process plays an important role for chilled products which are going through cold chain, as it slow down the rate of microbial action that helps to protect the food from spoiling. However cold chain offers uninterrupted handling of products and maintain the temperature according to the needs of products.

Based on Application, the Dairy & Frozen Desserts segment is expected to hold the largest market share

Cold chain logistics are used to transport dairy and frozen products as it maintains the temperature between -18 *C to 4 *C and maintain the quality of the product. several technologies such as blast freezing, vapor compression, programmable logic controller, evaporating cooling and cryogenic systems are used in global cold chain market. the most efficient, affordable, and easy to operate system is evaporating cooling storage.  

In the forecast period the food and vegetable segment are expected to have a fastest rate of growth which is increasing the need of maintaining the quality and freshness of fruits and vegetables during the transportation. factors like increasing demand for organic produce, globalization of trade, growing need for fresh produce and reduction in the wastage of food are accelerating the market growth of fruits vegetables and freshly produced.

Based on Region, APAC region is expected to dominate the market

Across India, China and Australia, Asia – Pacific cold chain logistics market is experiencing a rapid growth. Factors like increasing industrialization, increasing adoption of advance warehouse tools, and presence of large agriculture production are supporting to the growth of the market. Moreover, increasing demand for perishable goods and several government initiatives are driving the demand of the market. Some of the major leading players like Nichirei Corporation, Lineage Logistics Holding, LLC, Swire Groups, are thinking to expand the product portfolio in this region , which is expected to have a positive impact on the market .increasing demand for fresh fruits and vegetables and rising penetration of connecting devices are the key factors that are driving the North – American cold chain market .

Market Segmentation

Segmentation by Type


  • Refrigerated Storage

  • Refrigerated Transport

Segmentation by Temperature Type


  • Chilled

  • Frozen

Segmentation by Application


  • Dairy & Frozen Desserts

  • Fish, Meat and Seafood Products

  • Fruits & Vegetables

  • Bakery & Confectionery Products

  • Others

Segmentation by Technology


  • Blast Freezing

  • Vapor Compression

  • Programmable Logic Controller (PLC)

  • Evaporating Cooling

  • Cryogenic Systems

  • Others

Segmentation by Region


  • Asia Pacific

    • China

    • Japan

    • India

    • Rest of APAC



  • North America

    • United States of America

    • Canada



  • Europe

    • United Kingdom

    • Germany

    • France

    • Spain

    • Rest of Europe



  • RoW

    • Brazil

    • South Africa

    • Saudi Arabia

    • UAE



About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: https://www.gmiresearch.com/

 

 






























Gmiseo22
Written by

Gmiseo22

Post a comment