New York (US), May 31, 2023 (GLOBE NEWSWIRE) -- Perishable Goods Transportation Market Overview
Market Research Future (MRFR) 's report highlights “Perishable Goods Transportation Market Information By Product Type, Mode Of Transport, And Region - Forecast till 2030"; the market is projected to grow from USD 14.22435 Billion in 2023 to USD 22.32 Billion by 2030 at a 5.47% CAGR.
Market Synopsis
Transporting perishable goods entails shipping products that are susceptible to climatic changes. A suitable ventilation system is needed to move these kinds of goods from one location to another. Perishable goods must be transported using a specific mode of transportation, which is determined by the product's type, distance, and environmental requirements. To achieve this, specialized containers are used. Vegetables, fruits, meats, poultry, fish and shellfish, dairy products, baked goods, blossoms, and pharmaceuticals are among the items that can be transported. Air cargo, sea freight, reefer containers, and refrigerated trucks are a few of the frequently used modes of transportation. Transporting perishable goods is frequently used to preserve product quality, guarantee safety, increase shelf life, and avoid spoilage, damage, deterioration, and foodborne illnesses. It is an affordable and highly effective service that helps meet consumer demands, reduce wastage, and facilitate the international trade of perishable goods. Additionally, it improves customer satisfaction, expands profit margins, and encourages economic growth.
It also increases the availability of fresh goods. The market for the transportation of perishable goods is heavily influenced by population growth. The exponential increase in population is driving up demand for everyday necessities. Perishable goods include several items that people need daily. Although most of these goods are produced outside urban and semi-urban areas, urban areas account for most of their demand. Daily transportation of these items is necessary. These are the driving forces behind the transportation of the perishable goods market. To combat the growing food shortage, longer-term food preservation is required to prevent food spoilage. Fish and meat goods are transported in vehicles with insulation and refrigeration systems that can maintain temperatures below zero degrees for frozen foods and less than 45 degrees F for iced seafood. Additionally, the design of these shipping vehicles properly facilitates the chilled air over what is being stored.
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Market Competitive Landscape:
The prominent contenders in the perishable goods transportation market are:
- Kerry Logistics,
- Yusen Logistics,
- TNT Express,
- FedEx,
- UPS,
- DHL,
- DB Schenker,
- Kuehne+Nagel,
- Joulon Services,
- Reefer Express Logistics
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | 2030: USD 22.32 Billion |
| CAGR | 2030: 5.47% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Historical Data | 2019 & 2020 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product Type, Mode Of Transport, And Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
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Market U.S.P. Covered:
Market Drivers:
The growing popularity of electric vehicles (EVs), which are economical, environmentally friendly, have a low carbon footprint, and support green transportation, is also positively impacting the market's expansion. Additionally, implementing Internet of Things (IoT) technology for monitoring the location, moisture, and temperatures of perishable goods in real-time allows suppliers to monitor the quality of goods throughout the supply chain, bolstering the market's expansion. Breakfast cereals, milk and cheese, meat, poultry, fish, and vegetables are the main categories of processed food. In the meantime, people's spending habits have changed as disposable income has increased. They strongly desire to sample and experience various food varieties regardless of cost.
Additionally, trade liberalizations have aided in transporting different processed foods, like tinned vegetables and packaged meals, which fuels the demand for transporting perishable goods. Due to this rising demand, the perishable goods transportation marketplace will expand during the forecast period. Additionally, the market expansion is aided by implementing numerous government initiatives to guarantee food safety and encourage the establishment of cold-chain infrastructure. Other factors, such as the significant expansion of the e-commerce sector, rising consumer spending power, the quickening growth of international trade, and the adoption of cutting-edge technologies like blockchain, autonomous driving, and drones, will contribute to market expansion.
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Market Restraints:
The FDA established rules for pharmaceuticals and drugs, including those for Prescription Drug Marketing and Drug Sample Storage and Handling Requirements. While transporting various types of goods, a standard temperature scale must be used. Such onerous regulations might prevent the transportation of perishable goods from expanding during the anticipated period.
COVID 19 Analysis
Market vendors should concentrate more on the growth potential clients in the fast-growing sections while maintaining their spots in the slow-growing parts to take advantage of the chances and recover from the post-COVID-19 impact.
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Market Segmentation
The market is divided into fresh and frozen food products based on the product type. The market can be divided into three categories based on the modes of transportation: roads, railroads, and airways.
Regional Insights
Asia-Pacific is the region with the fastest growth rate for transporting perishable goods. Transport services for perishable goods are in high demand due to the region's expanding economies and increasing expenditures in the food sector. The region is anticipated to grow strongly during the forecast period due to rising food product demand, particularly in China and India. Over the forecast period, growth in the perishable products transportation market in APAC will be aided by the demand for convenient, processed, fresh, and packaged foods. Due to the high demand for nutritious food products, Europe is the second-largest regional market for transporting perishable goods, with major players having a significant presence there.
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