Dublin, May 02, 2024 (GLOBE NEWSWIRE) -- The "Global Cold Chain Market Outlook, 2029" report has been added to ResearchAndMarkets.com's offering.
Global Cold Chain Logistics market is anticipated to cross USD 740 Billion by 2029, increasing from USD 338.01 Billion in 2023. The market is expected to grow with 14.33% CAGR by 2024-29.
Advanced technologies, including IoT sensors and GPS tracking, enable real-time temperature monitoring during transit. This ensures that any deviations from the specified temperature range can be quickly identified and addressed. The cold chain is a linchpin for the global food industry. It facilitates the year-round availability of seasonal fruits and vegetables, allowing consumers to enjoy a diverse range of produce regardless of the local climate.
The cold chain logistics industry has a significant economic impact. It not only enables the growth of specific sectors like pharmaceuticals and food but also generates employment opportunities in areas such as transportation, storage, and technology development. Even space missions require cold chain logistics. NASA, for example, employs specialized containers and temperature-controlled environments to transport and store scientific samples collected during space exploration missions. Sustainable practices are gaining traction in the cold chain logistics industry. Companies are exploring eco-friendly refrigeration technologies, energy-efficient transportation, and packaging innovations to reduce their environmental footprint.
Cold chain logistics plays a critical role in emergency response situations, such as the rapid distribution of vaccines during disease outbreaks or natural disasters. The ability to maintain the integrity of temperature-sensitive medical supplies is vital in such scenarios. Even the floral industry relies on cold chain logistics to transport and preserve cut flowers. Maintaining a controlled temperature during transportation helps extend the freshness and shelf life of delicate blooms. The last mile of delivery, where products reach their final destination, poses unique challenges for cold chain logistics. Maintaining temperature control in the often unpredictable and uncontrolled environment of the last mile is a continual focus for the industry.
Market Drivers
- Increasing Demand for Perishable Goods: The growing global population, coupled with changing consumer preferences, has led to an increased demand for perishable goods such as fresh produce, dairy products, and frozen foods. Consumers today seek a wider variety of fresh and high-quality products, contributing to the expansion of the cold chain logistics market. This driver has a direct impact on the need for a reliable and efficient cold chain infrastructure to ensure the safe transportation and storage of perishable goods, driving growth in the market.
- Rising Pharmaceutical Innovations: Advancements in the pharmaceutical industry, including the development of biologics and vaccines, have significantly increased the demand for temperature-sensitive transportation and storage. These products often require strict temperature control to maintain their efficacy and integrity. The pharmaceutical sector's reliance on cold chain logistics is a major driver, as it necessitates specialized solutions to ensure the safe and effective delivery of temperature-sensitive medications, contributing to the market's expansion.
Market Challenges
- Temperature Variability and Control: Managing temperature variations during transportation and storage poses a significant challenge for the cold chain logistics industry. External factors such as weather conditions, especially in long-distance shipments or during international transit, can impact the integrity of the cold chain. Any deviation from the required temperature range can compromise the quality and safety of the products, leading to spoilage or reduced efficacy, particularly in the pharmaceutical and food industries.
- Stringent Regulatory Compliance: The cold chain logistics industry is subject to stringent regulatory standards, especially in sectors like pharmaceuticals and healthcare. Adhering to these regulations requires meticulous planning, monitoring, and documentation throughout the supply chain. Non-compliance with regulatory standards can result in legal consequences, product recalls, and damage to the reputation of companies involved in cold chain logistics, making regulatory compliance a critical challenge.
Market Trends
- Adoption of Technology and IoT: The integration of technology, particularly the Internet of Things (IoT), is a prominent trend in the cold chain logistics market. IoT sensors and devices are used for real-time monitoring of temperature, humidity, and other environmental factors during transportation and storage. This trend enhances visibility, transparency, and control over the cold chain, allowing stakeholders to proactively address issues and ensure the quality and safety of temperature-sensitive products.
- Green Cold Chains and Sustainability: Sustainability is gaining importance in the cold chain logistics industry, leading to the development of eco-friendly practices and technologies. Companies are exploring energy-efficient transportation, alternative refrigeration methods, and environmentally friendly packaging solutions. The adoption of green practices not only aligns with global sustainability goals but also meets the increasing demand from consumers and businesses for environmentally responsible supply chain solutions.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 208 |
| Forecast Period | 2023 - 2029 |
| Estimated Market Value (USD) in 2023 | $338.01 Billion |
| Forecasted Market Value (USD) by 2029 | $740 Billion |
| Compound Annual Growth Rate | 14.3% |
| Regions Covered | Global |
Competitive Landscape
- Competitive Dashboard
- Business Strategies Adopted by Key Players
- Key Players Market Share Insights and Analysis, 2022
- Key Players Market Positioning Matrix
- Porter's Five Forces
Company Profiles
- Americold Realty Trust, Inc.
- Company Overview
- Financial Highlights
- Geographic Insights
- Business Segment & Performance
- Product Portfolio
- Key Executives
- Strategic Moves & Developments
- Lineage Logistics
- Nichirei Corporation
- Burris Logistics
- Snowman Logistics Limited
- Kloosterboer
- CEVA Logistics
- FRIGO Coldstore Logistics GmbH & Co. KG
- VersaCold
- DSV A/S
- A.P. Moller - Marsk A/S
- FedEx Corporation
- Kuehne + Nagel International AG
- United Parcel Service
- DHL
- Tippmann Group
- Prime inc.
- Sinotrans Limited
- Culina Group Limited
- Yamato Holdings Co., Ltd
By Class
- Small UAVs
- Tactical UAVs
- Strategic UAVs
- Combat UAVs
By Type
- Fixed Wing
- Rotary Wing
- Hybrid
By Application
- Military
- Commercial
- Government & Law
- Consumer
By Range
- Visual Line Of Sight (VLOS)
- Extended Visual Line Of Sight (EVLOS)
- Beyond Visual Line Of Sight (BVLOS)
By Mode of Operation
- Remotely Piloted
- Optionally Piloted
- Fully Autonomous
By MTOW(Maximum Take Off Weight)
- < 25 KG
- 25-170 KG
- >170 KG
By System
- Platform
- Payload
- Datalink
- Ground Control Station
- Launch & Recovery System
For more information about this report visit https://www.researchandmarkets.com/r/j2q84k
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
