Fort Collins, Colorado, April 22, 2024 (GLOBE NEWSWIRE) --
Rise in global population and disposable income to drive industry demand
The growing global population and increasing disposable incomes have spurred a notable surge in the demand for fresh and top-quality perishable goods. With consumers becoming increasingly health-conscious and favoring nutrient-rich, minimally processed foods, the transportation market for perishable goods is experiencing significant growth. As per the United Nations projections, the world population is anticipated to reach USD 9.7 billion by 2050, further intensifying the need for efficient and dependable transportation of perishable products. Moreover, the rapid expansion of e-commerce platforms has facilitated easier access to a diverse range of perishable goods for consumers, contributing further to the market's expansion.
The globalization of supply chains and the expansion of international trade have profoundly affected the transportation market for perishable goods. As businesses endeavor to procure products from various regions across the globe, the demand for efficient cold chain logistics solutions has escalated significantly. Despite the challenges presented by the COVID-19 pandemic, the World Trade Organization reports a 4.7% increase in global merchandise trade volume in 2021. This surge in international trade has underscored the importance of developing sophisticated transportation networks to preserve the quality and safety of perishable goods throughout transit. Consequently, this trend has created opportunities for logistics providers to broaden their operations and invest in advanced technologies to meet the market's evolving needs.
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Segmentation Overview:
The perishable goods transportation market has been segmented into product, transportation mode, and region.
Road transportation registered massive growth in 2023.
- Based on the market segmentation by transportation mode, road transportation was the largest segment in the perishable goods transportation market in 2023. The extensive road network in developed regions, coupled with the flexibility and cost-effectiveness of road transportation, has made it the preferred mode for short to medium-distance delivery of perishable goods.
Poultry and seafood segments accounted for a significant market share in 2023.
- Based on the market segmentation by product, the meat, poultry & seafood segment held the largest market share in 2023 This can be attributed to the rising global consumption of animal-based proteins and the increasing demand for processed meat products. The high share of this segment is further supported by the stringent regulations governing the transportation of meat and seafood products to ensure food safety and prevent the spread of foodborne illnesses.
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Perishable Goods Transportation Market Report Highlights:
- The perishable goods transportation market growth is anticipated at a CAGR of 7.1% by 2032.
- Technological advances in the logistics industry drive the transportation market for perishable goods.
- North America is the largest regional market for transporting perishable goods and is projected to dominate in the forecast period.
- Some prominent players in the perishable goods transportation market report include DHL Perishable Logistics, FedEx, Kuehne + Nagel, Maersk, CMA CGM, Americold Logistics, Lineage Logistics, United Parcel Service (UPS), C.H. Robinson, XPO Logistics, and Burris Logistics.
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