Dublin, Feb. 09, 2024 (GLOBE NEWSWIRE) -- The "Cold Chain Logistics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F" report has been added to ResearchAndMarkets.com's offering.
Emerging consumer preferences for perishable goods and the globalization of food supply chains are fueling the expansion of the Cold Chain Logistics Market, which is estimated to achieve a compound annual growth rate (CAGR) of 15.7% through 2028. According to the report, this sector demonstrates significant growth potential with an emphasis on technological innovations and governmental support.
Escalating Demand for Perishable Goods Amplifies Market Potential
A surge in demand for fresh produce, dairy, meats, seafood, and sensitive pharmaceuticals is driving the need for an efficient global cold chain. As the population grows and lifestyles evolve, the ubiquity of e-commerce has made convenient access to quality perishable items a consumer expectation, thereby increasing reliance on sophisticated cold chain logistics.
Globalized Food Chains Propel Cold Chain Logistics Development
The expanding appetite for diverse food products year-round is a challenge that cold chain logistics is poised to meet. From tropical fruits to specialized dairy, the industry plays a crucial role in maintaining the quality and safety of goods from producer to consumer despite geographic boundaries.
Key Challenges in the Market
While the market outlook is promising, several challenges must be navigated effectively:
- Temperature Maintenance: Ensuring consistent and precise temperature control during transit and storage remains a prime concern for stakeholders.
- Infrastructure Gaps: Inadequate infrastructure, including cold storage and energy supply, acts as a barrier to efficient operations.
Developing technological solutions, such as IoT-based monitoring systems, prove critical in overcoming these challenges.
Government Initiatives to Underpin Market Ascendancy
Government pledges to develop infrastructure, standardize regulation, and foster technological adoption are significantly contributing to the vitality of the cold chain logistics market. These moves, designed for the betterment of food security and healthcare provisions, ensure market growth aligned with public and environmental well-being.
Segmental Insights Reveal Opportunities Across Multiple Industry Verticals
Segments like seafood, meat, fruits & vegetables, and dairy products are poised for significant growth in the cold chain logistics arena due to the essential need for controlled temperatures. Frozen goods dominate the temperature type segmentation, reflecting their extensive use across the industry.
Asia Pacific Reigns as Leading Regional Market
With substantial market share, Asia Pacific stands as a leader in cold chain logistics. The region's rapid growth is driven by governmental investments in infrastructure, burgeoning demands for varied food products, and enhancements in healthcare logistics.
A selection of companies mentioned in this report includes:
- Americold Logistics, LLC
- Burris Logistics
- Cold Box
- Conestoga Cold Storage
- Congebec
- Lineage Logistics Holding, LLC
- Nichirei Corporation
- Tippmann Group
- United States Cold Storage
- VersaCold Logistics Services
For more information about this report visit https://www.researchandmarkets.com/r/3vof90
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