Pune, Sept. 13, 2023 (GLOBE NEWSWIRE) -- Maximize Market Research a leading Automotive and Transportation research firm has published a market intelligence report on the Cold Chain Market. As per the report, the total market opportunity by 2029 is expected to be USD 489.79 Bn. The total market was valued at USD 274.9 Bn. in 2022 and it is expected to grow at a CAGR of 8.6 percent during the forecast period.
| Market Size in 2022 | USD 274.9 Bn. |
| Market Size in 2029 | USD 489.79 Bn. |
| CAGR | 8.6 % (2023-2029) |
| Forecast Period | 2023-2029 |
| Base Year | 2022 |
| Number of Pages | 287 |
| No. of Tables | 116 |
| No. of Charts and Figures | 115 |
| Segment Covered | Type, Packaging, Equipment, and Application. |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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Cold Chain Market Report Scope and Research Methodology
The Cold Chain Market Report provides a complete analysis of the global cold chain industry, which includes the storage, transportation and handling of temperature-sensitive goods. The report's scope comprises an in-depth examination of market trends, drivers, challenges, and opportunities in various sectors such as food and pharmaceuticals. The research methodology involves extensive data collection from primary sources such as interviews with industry experts, secondary sources such as market databases, and thorough quantitative analysis.
Additionally, the report assesses the market size, growth projections, and regional variations in cold chain infrastructure and logistics. It also explores emerging technologies and innovations in cold chain management. This report serves as a valuable resource for stakeholders in the cold chain industry, including logistics providers, food manufacturers, pharmaceutical companies, and policymakers, offering insights to make informed decisions and investments in this critical sector that ensures the safe and efficient transport of perishable goods.
Cold Chain Market Overview
The cold chain is a technique that is effective and that uses refrigerated and thermal packaging to keep temperature-sensitive goods safe throughout transportation. The food and beverage sector has utilized the cold chain frequently to preserve food items and to keep the food items safe against temperature harm. Further, The Cold Chain Market is segmented by Type, Packaging, Equipment, Application, and Region.
Cold Chain Market Dynamics
The consumer demand for perishable goods is increasing due to the impact of the food that builds physical and mental development. Perishable goods, such as dairy products, fruits and vegetables, and high-protein animal-based products such as meat, eggs, fish, and seafood have changed consumption patterns. Wastage of food is a concern for the government and hence government is taking the initiative to reduce food and agriculture waste. Cold chain services are designed to carry and store temperature-sensitive products in optimal circumstances while transporting foods.
Dairy and frozen desserts are expected to drive the industry forward as the need for easy food products has increased as urbanization has increased. The preference of customers is increasing for convenience and longer shelf life to the acceptance of healthy frozen meals, which include dairy and frozen sweets.
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Cold Chain Market Regional Insights
The Asia Pacific region dominated the market with the largest market share accounting for 50.64% in the year 2022 and is expected to witness significant growth at a CAGR of 13.1% through the forecast period. Asia Pacific region has more than 60% of the global population and has a large market base for healthcare and food product providers. The rising population of elders has produced a lot of spending on healthcare and it is growing rapidly and remains critical to international pharmaceutical and biotechnology businesses' future prospects. As a result, demand for temperature-sensitive healthcare products such as vaccines, biopharmaceuticals, clinical trial materials, and other such items has increased and hence, the growth of the market has also increased.
Cold Chain Market Segmentation
By Type
- Storage
- Warehouses
- Reefer Containers
- Transportation
- Road
- Sea
- Rail
- Air
- Monitoring Components
- Hardware
- Software
The storage category accounted for more than 60.3 % of revenue in the year 2022 and is expected to maintain its dominance during the forecast period. The growth can be attributed to an increasing preference for packaged foods across the globe. The increasing demand of the frozen meals is driven by the changing consumer dietary patterns and lifestyles. The change in dietary patterns and lifestyles of consumers are driving the demand for frozen foods. Hence, the storage segment has dominated the market.
By Packaging
- Product
- Material
By Equipment
- Storage Equipment
- Transportation Equipment
By Application
- Fruits & Vegetables
- Fruit Pulp & Concentrates
- Dairy Products
- Milk
- Butter
- Cheese
- Ice-cream
- Fish, Meat, and Seafood
- Processed Food
- Pharmaceuticals
- Bakery & Confectionary
The fish, meat, and seafood category dominated the market in the year 2022, accounting for 26.8 % of total market revenue, and is expected to dominate the market during the forecast period. Advancements in technology for seafood processing, packaging, and storage are supposed to drive the market. Processed foods are expected to be the fastest-growing segment during the forecast period. The advancements in packaging materials increase the life of foods and hence this has increased the sales of processed foods over the past few years.
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Cold Chain Market Key Competitors include:
- Americold Logistics
- Lineage Logistics Holdings
- Nichirei Corporation
- Burris Logistics
- Agro Merchants Group
- Kloosterboer
- United States Cold Storage
- Tippmann Group
- VersaCold Logistics Services
- Henningsen Cold Storage Co.
- CWT Pte Limited
- Orient Overseas (International) Limited
- JWD Group Inc.
- Swire Cold Chain Logistics Co. Ltd
- XPO Logistics Inc.
- Wabash National Corporation
- NewCold
- Sonoco ThermoSafe (Sonoco Products Company)
- United Parcel Service of America, Inc
- A.P. Moller - Maersk
Key questions answered in the Cold Chain Market are:
- What is the expected CAGR of the Cold Chain Market during the forecast period?
- What was the Cold Chain Market size in 2022?
- What is the expected Cold Chain Market size in 2029?
- What are the global trends in the Cold Chain Market?
- What are the upcoming industry applications and trends for the Cold Chain Market?
- What recent industry trends can be implemented to generate additional revenue streams for the Cold Chain Market?
- What growth strategies are the players considering to increase their presence in the Cold Chain Market?
- What major challenges could the Cold Chain Market face in the future?
- Who held the largest market share in the Cold Chain Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2017 to 2022)
- Past Pricing and price curve by region (2017 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by Type, Packaging, Equipment, and Application
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Maximize Market Research is leading Information Automotive and Transportation research firm, has also published the following reports:
Cold Chain Packaging Refrigerants Market - The market size is expected to reach USD 2.37 billion by 2029 at a CAGR of 7.9 percent during the forecast period. Asia Pacific region dominated the global Cold Chain Packaging Refrigerants market with the largest share during the forecast period. Developing countries in this region such as India, China, Japan, and South Korea are driving the growth of this region.
Cold Chain Logistics Market - The market size is expected to reach USD 463.72 billion by 2029 at a CAGR of 7.9 percent during the forecast period. The Asia Pacific region dominated the market with a 45% market share in 2022. There has been an increase in funding from the governments of various countries for building the cold chain logistics infrastructure.
Healthcare Cold Chain Logistics Market - The market size is expected to reach USD 21.46 Billion by 2029 at a CAGR of 6.2 percent during the forecast period. Cold chain healthcare logistics plays an important role in solving the current issue regarding food storage and food security which boosts the growth of the market.
Cold Storage Market- The market size is expected to reach USD 337.68 Billion by 2029 at a CAGR of 13.6 percent during the forecast period. Cold storage technologies offer useful features, such as advanced refrigeration technologies and monitoring and tracking systems of various products like fruits and vegetables, significantly lessening the possibility of wastage of temperature-sensitive goods driving the market growth.
Refrigerated Sea Transportation Market - The market size is expected to reach USD 13.81 Billion by 2029 at a CAGR of 6.9 percent during the forecast period. An increase in surcharges and costs, such as results in reduced detention fees, has also been brought on by unreliable scheduling and port congestion. These are the factors that can hamper the market.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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