The
global cold chain market size is estimated to reach USD
447.50 billion by 2025, according to a new study conducted by Grand View
Research, Inc., exhibiting a CAGR of 15.0% during the forecast period.
Technological advancements in packaging, processing, and storage of seafood
products are expected to drive the market over the forecast period.
Cold chain solutions have become an integral part of
supply chain management for transportation and storage of temperature-sensitive
products. Increasing trade of perishable products is anticipated to drive
market demand over the forecast period. Players operating in the marketplace
for cold chain are increasingly adopting alternative energy solutions such as
wind and solar to minimize overall operating cost.
Among cold chain solutions, the refrigeration system is
used to prolong shelf life and maintain quality of products. Refrigerants used
in refrigeration systems pose a threat to the environment because of their high
Global Warming Potential (GWP) and Ozone Depletion Potential (ODP).
Growing stringent food safety regulations, such as the
Food Safety Modernization Act that requires increased attention toward
construction of cold storage warehouse, is slated to benefit the market.
Adoption of environmental audit systems such as Leadership in Energy and
Environmental Design (LEED) or Building Research Establishment Environmental
Assessment Method (BREEAM) can evaluate designs at initial stage. Thus,
operational performance of completed buildings can be assessed through these
audit systems.
Temperature-controlled warehouses are highly
energy-sensitive as they incorporate refrigeration and ventilation systems that
require high power consumption. However, better design can reduce power
consumption and can help build net-zero energy warehouses. Intelligent
warehouse automation and control systems are one of the factors assisting
buildings to achieve net-zero energy to become self-sustainable. Less energy
consumption notably lowers operating expenditure, eventually contributing to
protection of ecology and climate.
The North America region is anticipated to dominate the market
for cold chain in terms of revenue owing to continuing innovation in autonomous
trucks. Mexico is expected to have exponential growth over the forecast period
owing to the rising investments for the development of logistics infrastructure
and increasing penetration of warehouse management system.
In South America, Brazil is a major contributor to market
growth. Implementation of dietary guidelines on usage of fresh food products
over processed food led by the Brazilian government is expected to boost the
cold chain market. These guidelines would necessitate development of cold
chains to meet requirements for storage, transportation, and packaging of fresh
food.
Key companies operating in the cold chain market include
Agro Merchant Group (U.S.), Cloverleaf Cold Storage (U.S.), Henningsen Cold
Storage (U.S.), Nordic Logistics and Warehousing, LLC (U.S.), and Preferred
Freezer Services, LLC (U.S.). Cold chain service providers have invested
aggressively in adding onboard tracking equipment to refrigeration units. This
provides real-time location and temperature data to shippers and third-party
logistics. It further helps them with increased visibility and opportunity to
mitigate or prevent losses.
Along with the aforementioned players, cold chain
packaging companies such as Cold Chain Technologies, Inc. (U.S.); Cryopack
Industries, Inc. (U.S.); Creopack (Canada); and Cold Box Express, Inc. (U.S.)
contribute significantly to market growth.
Full Research Report On Cold Chain Market Analysis:
Further
key findings from the report suggest:
·
Connected products help companies develop
closer customer relationships through product differentiation and moving away
from price competition
·
Due to a shift in focus from increase in
productivity to providing better transport and storage facilities, the market
has gained prominence in developing countries such as China and India
·
Cold chain monitoring, smart packaging,
sample lifecycle management, men and material tracking, and connected equipment
are among IoT applications of key importance for the pharmaceuticals industry
·
Radio Frequency Identification (RFID)-enabled
supply chain provides higher efficiency and has opened up new opportunities by
offering product level visibility
·
Globalization and growing number of
pharmaceutical and food safety counterfeit incidents have compelled governments
to tighten regulations on production and supply. Rising trend of buying food
products online and adoption of e-commerce in China are key demand drivers
·
The Government of India remains keen on
supporting development of the cold chain industry and is encouraging private
participation by launching subsidy schemes and offering grants. In 2012, it
permitted 100% FDI in cold storage under automatic route.
View
More Reports Of This Category By Grand View Research At: https://www.grandviewresearch.com/industry/ready-to-eat-processed-and-frozen-foods
Grand View Research has segmented the global cold chain
market on the basis of type, packaging, equipment, application, and region:
Cold
Chain Type Outlook (Revenue, USD Million, 2014 - 2025)
·
Storage
o Warehouses
o Reefer
Containers
·
Transportation
o Road
o Sea
o Rail
o Air
·
Monitoring Components
o Hardware
o Sensors
o RFID
Devices
o Telematics
o Networking
Devices
o Software
o On-premise
o Cloud-based
Cold
Chain Packaging Outlook (Revenue, USD Million, 2014 - 2025)
·
Product
o Crates
o Dairy
o Pharmaceutical
o Fishery
o Horticulture
o Insulated
Containers & Boxes
o Type
o Cold
Chain Bags/Vaccine Bags
o Corrugated
Boxes
o Others
o Payload
Size
o Large
(32 to 66 liters)
o Medium
(21 to 29 liters)
o Small
(10 to 17 liters)
o X-small
(3 to 8 liters)
o Petite
(0.9 to 2.7 liters)
o Cold
packs
o Labels
o Temperature-controlled
Pallet Shippers
·
Materials
o Insulating
Materials
o EPS
o PUR
o VIP
o Cryogenic
Tanks
o Others
(Insulating Pouches, Hard-cased Thermal Boxes, and Active Thermal Systems)
o Refrigerants
o Fluorocarbons
o Inorganics
o Ammonia
o CO2
o Hydrocarbons
Cold
Chain Equipment Outlook (Revenue, USD Million, 2014 - 2025)
·
Storage Equipment
o On-grid
o Walk-in
Coolers
o Walk-in
Freezers
o Ice-lined
Refrigerators
o Deep
Freezers
o Off-grid
o Solar
Chillers
o Milk
Coolers
o Solar
Powered Cold Boxes
o Others
(Solar Refrigerators and Products Related to Solar Panels)
·
Transportation Equipment
Cold
Chain Application Outlook (Revenue, USD Million, 2014 - 2025)
·
Fruits & Vegetables
·
Fruit Pulp & Concentrates
·
Dairy Products
o Milk
o Butter
o Cheese
o Ice
Cream
·
Fish, Meat, and Seafood
·
Processed Food
·
Pharmaceuticals
o Vaccines
o Blood
Banking
·
Bakery & Confectionary
·
Others (Ready-to-cook, Poultry)
Cold
Chain Regional Outlook (Revenue, USD Million, 2014 - 2025)
·
North America
o U.S.
o Canada
o Mexico
·
Europe
o U.K.
o Germany
o Italy
o Spain
o France
·
Asia Pacific
o India
o China
o Singapore
o South
Korea
o Japan
·
Middle East
o UAE
o Saudi
Arabia
o Israel
·
Africa
o South
Africa
o Nigeria
o Egypt
o Kenya
·
South America
o Brazil
Access Full Press Release of this Report:
https://www.grandviewresearch.com/press-release/global-cold-chain-market
https://www.grandviewresearch.com/press-release/global-cold-chain-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research
and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For
more information: https://www.grandviewresearch.com/
