Pune, May 08, 2023 (GLOBE NEWSWIRE) -- “The Cold Chain Market had an estimated value of USD 275 billion in 2022, and it is projected to expand to USD 1033 billion by 2030, with a compound annual growth rate (CAGR) of 18% during the forecast period from 2023 to 2030, as per SNS Insider.”
Market Overview
The cold chain refers to the process of managing and transporting temperature-sensitive products, such as food, pharmaceuticals, and vaccines, from one point to another while maintaining a specific temperature range to preserve their quality and safety. This is achieved through a series of temperature-controlled storage and transportation facilities, including refrigerated trucks, warehouses, and specialized packaging. The cold chain plays a crucial role in ensuring that perishable goods reach consumers in good condition and prevent spoilage or contamination that could result in health hazards or financial losses.
Market Analysis
With the rise of e-commerce and online grocery shopping, the need for efficient cold chain logistics has become even more critical. Cold chain logistics plays a vital role in ensuring the safe and hygienic transport of temperature-sensitive goods such as fresh produce, frozen foods, and pharmaceuticals. As a result, there is an increasing demand for reliable and effective cold chain solutions to maintain the integrity of these products. In response to these trends, the industry is rapidly evolving, with new technologies and innovations driving efficiency, cost-effectiveness, and sustainability. The use of advanced analytics, the Internet of Things (IoT), and artificial intelligence (AI) is helping to optimize the cold chain logistics process, reducing waste and improving efficiency. All such factors boosting the cold chain market growth.
Get a Sample Report of Cold Chain Market@ https://www.snsinsider.com/sample-request/2688
Key Company Profiles Listed in this Report Are:
- Cold Chain technologies
- Vestfrost Solutions
- Godrej
- Arctic Refrigeration
- Sofrigam
- CoolMed Ltd
- Pelican BioThermal LLC
- Softbox
- Sealed Air Corporation & Others
Impact of Recession on Cold Chain Market Growth
The impact of a recession on the cold chain market can be both positive and negative. While it can lead to a decline in demand, supply chain disruptions, and reduced efficiency, it can also create opportunities for growth, innovation, and market expansion. Therefore, the key to success for cold chain companies during a recession is to adapt to changing market conditions, leverage technology and automation, and focus on delivering high-quality services to their customers.
Cold Chain Market Report Scope & Coverage:
| Report Attributes | Details |
| Market Size in 2022 | US$ 275 Bn |
| Market Size by 2030 | US$ 1033 Bn |
| CAGR | CAGR of 18% From 2023 to 2030 |
| Base Year | 2023-2030 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Cold Chain Market: Key Segmentation | • By Product (Refrigerators, Ultra-low Temperature Freezers, Shipping Solutions, Refrigerants, Insulated Containers, Temperature Monitoring Products, Packaging, Others) • By End Users (Logistics & Warehouse Companies, Food & Beverages Companies, Pharmaceutical Companies, Cosmetics Companies, Others) |
| Key Regional Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
Key Regional Developments
The global cold chain market is expected to experience significant growth over the forecast period, with North America retaining its position as the dominant regional market. This can be attributed to the region's substantial growth opportunities, making it an attractive investment destination for companies looking to establish a long-term presence. Additionally, the increasing adoption of connected devices and a large consumer base are expected to contribute to the growth of the market in the region. Meanwhile, the Asia Pacific region is projected to be the fastest-growing market for cold chain solutions. This is due to the increasing government investments in logistics infrastructure development and the widespread adoption of Warehouse Management Systems (WMS) in the region.
Enquiry about Cold Chain Market Report@ https://www.snsinsider.com/enquiry/2688
Key Takeaway from Cold Chain Market Study
- The refrigerator segment has emerged as the dominant player in the market. The increasing demand for temperature-controlled storage and transportation of perishable products such as food, pharmaceuticals, and chemicals has led to a surge in the adoption of refrigeration technology in the logistics industry.
- The logistics and warehouse companies segment plays a vital role in the market, ensuring that temperature-sensitive products are transported and stored under optimal conditions. Their expertise and capabilities enable them to meet the stringent requirements of the cold chain industry, making them essential partners for manufacturers, distributors, and retailers alike.
Recent Developments Related to Cold Chain Market
- Celcius Logistics, a leading player in the cold chain logistics sector, has successfully secured Series A funding of Rs 100 Crores to further enhance its innovative cold chain technologies. The funding was provided by a group of investors who recognize the tremendous potential of Celcius Logistics in transforming the cold chain logistics industry.
- Balmer Lawrie & Co, a renowned logistics and travel services provider, has recently signed a Memorandum of Understanding (MoU) with the Central Warehousing Corporation to collaborate on cold chain logistics operations. The partnership aims to leverage the expertise and resources of both organizations to provide end-to-end temperature-controlled logistics solutions to clients across India.
Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Cold Chain Market Segmentation by Product
9. Cold Chain Market Segmentation by End Users
10. Regional Analysis
11. Company Profile
12. Competitive Landscape
13.Used Cases and Best Practices
14. Conclusion
Buy Single-User PDF of Cold Chain Market Report@ https://www.snsinsider.com/checkout/2688
[For more information or need any customization related to this research study mail us at info@snsinsider.com]
About Us:
SNS Insider is one of the leading market research and consulting agencies that dominate the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
Complete Report Details Available@ https://www.snsinsider.com/reports/cold-chain-market-2688
