Fort Collins, Colorado, Sept. 24, 2023 (GLOBE NEWSWIRE) -- DataHorizzon Research Published a report titled, "Cold Chain Market Size, Growth, Share, Statistics Report, By Type (Storage, Transportation, Monitoring Components), By Packaging (Crates, Insulated Containers & Boxes, Materials), By Equipment, By Application, By Region Forecasts, 2023-2032."
According to DataHorizzon Research, The cold chain market size was valued at USD 281.1 Billion in 2022 and is expected to have a market size of USD 1,297.2 Billion by 2032 with a CAGR of 16.6%. The global report on the chatbot market comprehensively analyzes the latest trends and market conditions. It also covers the latest insights from the industry and discusses market opportunities in detail.
The growing prominence of the cold chain to maintain food quality and prevent bacterial growth for perishables such as meat, dairy, and fruits & vegetables is an imperative factor driving market growth. In the perishable products supply chain, time and temperature are critical components for agriculture perishables and post-slaughter and collection for meat and seafood. The product conditions deteriorate faster at a higher temperature than it does at a lower temperature. Additionally, various aspects such as moisture content, texture, flavor, and nutritional value of perishables diminish with a temperature rise. Cold chain automation and digitization enable the preservation of perishables' quality, contributing to their increased demand.
Furthermore, the increasing global mean temperature is another factor leading to a surge in demand for refrigeration systems for perishables. According to The National Oceanic and Atmospheric Administration agency U.S., in 2022, the surface temperature was 0.86°C more than the mean temperature of the 20th century was the sixth warmest year to date. Perishable products such as agricultural produce, meat, seafood, and pharmaceutical products are highly susceptible to the impacts of climatic changes.
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Report Snapshot:
| Report Title | Cold Chain Market |
| Market Size in 2022 | USD 281.1 Billion |
| Market Size by 2032 | USD 1,297.2 Billion |
| CAGR from 2023 to 2032 | 16.6% |
| Largest Market | North America |
| Forecast Period | 2023 to 2032 |
| Historic Period | 2021 |
| Base Year | 2022 |
| Report Scope & Coverage | Market Size, Market Estimations, Competitor Analysis, Trends, and Growth Factors |
| By Type | Storage, Transportation, and Monitoring Components |
| By Packaging | Crates, Insulated Containers & Boxes and Materials |
| By Equipment | On-grid, Off-grid and Transportation Equipment |
| By Application | Fruits & Vegetables, Fruit Pulp & Concentrates, Dairy Products, Fish, Meat, and Seafood, Processed Food, Pharmaceuticals, Bakery & Confectionary and Others |
| Region | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. |
| Countries Covered | U.S., Canada, U.K., Germany, France, China, Japan, India, South Korea, Brazil, Mexico, UAE, Saudi Arabia, South Africa, among others. |
| Major Market Players | Lineage Logistics, United States Cold Storage, Inc., Nichirei Logistics Group, Inc., Emergent Cold LatAm, Agro Merchant Group, Americold Logistics LLC, Burris Logistics, Inc., Cryopak Industries Inc., Creopack, Cold Box Express, Inc., Constellation Cold Logistics, A.P. Moller Maersk, Tippmann Group, VersaCold Logistics Services, Coldman, Congebec Inc., Conestoga Cold Storage, and Trenton Cold Storage |
Segmentation Overview:
The global cold chain market has been segmented based on type, packaging, equipment, application, and region. Storage is leading in the type segment owing to the popularity of storage systems in the logistics industry. Insulated containers accounted for a significant share in terms of packaging in recent years.
The North American cold chain market accounted for a significant share in 2022. This can be attributed to the pharmaceutical industry's significant demand for cold chain storage in 2022. Moreover, several startups offer third-party assistance with cold storage. Therefore, this will attract more growth in the forthcoming years. On the other hand, Asia Pacific is a fast-growing market and is projected for a significant share in the forthcoming years. Rapid growth in e-commerce and the availability of cold chain logistics for the marine industry is projected to impel market developments in Asia Pacific.
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Cold Chain Market Report Highlights:
- The global cold chain market is anticipated to be valued at 1,297.2 Billion at a CAGR of 16.6% by 2032.
- The growing demand for perishable goods significantly drives the cold chain market growth. The marine and pharmaceutical industry has a huge need for effective distribution of goods to the end-user market.
- The storage systems registered a huge growth in 2022 and are expected to remain dominant in the forthcoming years due to their popularity and efficiency in logistics.
- North America accounted for a significant market share in 2022 and is projected to dominate the global market owing to the high demand in the pharmaceutical industry.
- Some of the prominent players in the cold chain market report include Lineage Logistics, United States Cold Storage, Inc., Nichirei Logistics Group, Inc., Emergent Cold LatAm, Agro Merchant Group, Americold Logistics LLC, Burris Logistics, Inc., Cryopak Industries Inc., Creopack, Cold Box Express, Inc., Constellation Cold Logistics, A.P. Moller Maersk, Tippmann Group, VersaCold Logistics Services, Coldman, Congebec Inc., Conestoga Cold Storage, and Trenton Cold Storage.
Key Developments in the Industry:
- In 2023, the European Union (EU) and the United States (US) will be approving 23 novel cell and gene therapy products, which are projected to impact the quality of treatment in patients positively. Moreover, in line with this development, there will be a huge demand for proper storage and transportation systems to determine the precision and viability of these treatments.
- The COVID-19 crisis and the need for effective and efficient storage have deeply impacted the industry systems for vaccine transportation. Due to logistical and supply-chain issues, industry experts have highlighted how only a fraction of COVID-19 doses were available in poor nations. Therefore, the need for effective administration in the cold chain industry would suffice the need, as highlighted by the industry leaders.
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Cold Chain Market Report Segmentation
Cold Chain Market, By Type (2023-2032)
- Storage
- Transportation
- Monitoring Components
Cold Chain Market, By Packaging (2023-2032)
- Crates
- Insulated Containers & Boxes
- Materials
Cold Chain Market, By Equipment (2023-2032)
- On-grid
- Off-grid
- Transportation Equipment
Cold Chain Market, By Application (2023-2032)
- Fruits & Vegetables
- Fruit Pulp & Concentrates
- Dairy Products
- Fish, Meat, & Seafood
- Processed Food
- Pharmaceuticals
- Bakery & Confectionary
- Others
Cold Chain Market, By Region (2023-2032)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
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