Dublin, May 10, 2024 (GLOBE NEWSWIRE) -- The "North America Cold Chain Market Report by Service Type, Temperature, End User, and Country 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The North America cold chain market size reached US$ 71.9 Billion in 2023. Looking forward, the market is projected to reach US$ 127.6 Billion by 2032, exhibiting a growth rate (CAGR) of 6.58% during 2023-2032.
The increasing demand for temperature-controlled storage, stringent regulations and quality standards, advancements in refrigeration technology, growth of e-commerce, and the importance of maintaining food safety and quality in the meat and seafood industries, are among the key factors driving the market growth.
Cold chain refers to a system of maintaining a controlled temperature environment throughout the transportation, storage, and handling of temperature-sensitive products, such as food, pharmaceuticals, and vaccines, from their point of origin to the end-user. The primary objective of the cold chain is to preserve the quality, efficacy, and safety of these perishable goods. The cold chain typically involves a combination of refrigeration, freezing, and insulated packaging technologies, along with specialized equipment, such as refrigerated trucks, warehouses, and cold chain facilities.
It also requires strict adherence to temperature monitoring, documentation, and quality control procedures. By maintaining the required temperature range, the cold chain prevents the growth of microorganisms, slows down enzymatic and chemical reactions, and minimizes the degradation of sensitive products. This ensures that perishable items reach consumers or patients in optimal condition, with their potency, freshness, and nutritional value intact.
The increasing demand for temperature-controlled storage and transportation of perishable goods is a major driver. As the population grows and consumer preferences shift toward fresh and frozen food products, there is a higher need for maintaining the quality and safety of these items throughout the supply chain. Additionally, the expanding e-commerce sector contributes to the growth of the market. With the rise of online grocery shopping and direct-to-consumer deliveries, there is a need for efficient cold chain and last-mile temperature-controlled transportation to maintain the freshness of perishable items. Besides this, advancements in refrigeration and cold chain technologies are driving market growth.
Innovations, such as real-time temperature monitoring systems, GPS tracking, and improved insulation materials enhance the efficiency and reliability of the cold chain. These technologies enable better control and management of temperature-sensitive products, reducing losses and ensuring product quality. Moreover, growing consumer awareness about food safety and the increasing demand for organic and natural products also drive the cold chain market. Consumers are more conscious about the quality, safety, and traceability of the products they purchase, leading to an increased emphasis on maintaining a cold chain to deliver fresh and safe goods.
Increasing demand for temperature-controlled storage and transportation systems
The rising population and changing consumer preferences have escalated the demand for fresh and frozen food products. Consumers now expect access to a wide variety of perishable goods, including fruits, vegetables, meats, and dairy, regardless of the season. This has resulted in an increased need for efficient cold chain systems to maintain the quality, nutritional value, and safety of these products throughout the supply chain. Without proper temperature control, perishable items can spoil, resulting in significant financial losses for businesses and compromised consumer health.
Stringent regulations and quality standards
Governments and regulatory bodies in North America have implemented strict regulations and quality standards to ensure the safety and efficacy of pharmaceuticals, vaccines, and food products. For example, the United States Food and Drug Administration (US FDA) and Health Canada have established guidelines and requirements for storing, handling, and transporting practices. Compliance with these regulations necessitates the adoption of advanced cold chain technologies and practices to maintain the integrity of temperature-sensitive products. Non-compliance can result in legal consequences, product recalls, and damage to a company's reputation.
Advancements in refrigeration and cold chain technologies
The continuous advancements in refrigeration and cold chain technologies have significantly contributed to the market growth of the cold chain. Innovations, such as real-time temperature monitoring systems, GPS tracking, improved insulation materials, and more energy-efficient refrigeration units, have enhanced the efficiency, reliability, and visibility of the cold chain.
These advancements enable better control and management of temperature-sensitive products, reducing losses, ensuring product quality, and extending shelf life. Furthermore, the integration of data analytics and automation in cold chain processes allows for better optimization, risk mitigation, and proactive maintenance, enhancing overall operational efficiency and cost-effectiveness.
Competitive Landscape
Numerous key players are expanding their existing cold chain facilities or establishing new ones to meet the increasing demand. This includes constructing larger warehouses, adding more temperature-controlled storage units, and investing in advanced technologies for efficient operations. Additionally, companies are investing in innovative technologies to enhance their cold chain capabilities. This includes implementing real-time monitoring systems, automation solutions, and advanced inventory management systems to improve efficiency, reduce energy consumption, and ensure better product tracking and traceability.
Besides this, key players are actively pursuing strategic partnerships and acquisitions to expand their market presence and enhance their service offerings. These partnerships may involve collaborations with logistics companies, e-commerce platforms, or food producers to create a comprehensive cold chain network and offer end-to-end solutions.
Other than this, various companies in the cold chain market are prioritizing sustainability by implementing energy-efficient practices and utilizing eco-friendly refrigeration systems. This includes adopting renewable energy sources, optimizing insulation materials, and implementing waste reduction measures.
Key Questions Answered in This Report
- What was the size of the North America cold chain market in 2023?
- What is the expected growth rate of the North America cold chain market during 2024-2032?
- What has been the impact of COVID-19 on the North America cold chain market?
- What are the key factors driving the North America cold chain market?
- What is the breakup of the North America cold chain market based on the service type?
- What is the breakup of the North America cold chain market based on the temperature?
- What is the breakup of the North America cold chain market based on the end user?
- What are the key regions in the North America cold chain market?
- Who are the key players/companies in the North America cold chain market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 125 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $71.9 Billion |
| Forecasted Market Value (USD) by 2032 | $127.6 Billion |
| Compound Annual Growth Rate | 6.5% |
| Regions Covered | North America |
Some of the major players include:
- Americold Logistics
- Lineage Logistics
- United States Cold Storage, Inc.
- VersaCold Logistics Services
- AGRO Merchants Group
- Interstate Warehousing Inc.
North America Cold Chain Industry Segmentation
Breakup by Service Type:
- Refrigerated Storage
- Refrigerated Transport
- Airways
- Roadways
- Seaways
- Railways
Breakup by Temperature:
- Chilled
- Frozen
Breakup by End User:
- Meat and Seafood
- Fruits and Vegetables
- Bakery and Confectionery
- Dairy and Frozen Products
- Pharmaceuticals
- Others
Breakup by Country:
- United States
- Canada
For more information about this report visit https://www.researchandmarkets.com/r/4065jp
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