The global cold chain market size will grow by USD 173.82 billion during 2019-2023. This market report provides a detailed analysis of the market by type (refrigerated warehouse and refrigerated transportation), application (meat, fish, and seafood, dairy and frozen desserts, fruits, vegetables, and beverages cold, bakery and confectionary, and healthcare), and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including AGRO Merchants Group, AmeriCold Logistics LLC, John Swire & Sons Ltd., Knight-Swift Transportation Holdings Inc., and Lineage Logistics Holding LLC.
Some of the key findings from our cold chain market forecast report are summarized below
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Global Cold Chain Industry Overview
The cold chain industry is increasingly adopting IoT to enhance the effectiveness and efficiency of supply chains. IoT sends real-time notifications about the condition of products to enterprises and allows them to remotely control and monitor the temperature settings of the vehicle or warehouse. Moreover, by allowing enterprises to focus on descriptive and predictive analytics, IoT helps in maintaining the quality and integrity of food and medicines throughout the transportation or storing process. Restaurant owners can also ensure proper food safety procedures by accurately monitoring the temperature of food storage facilities through IoT. These benefits of IoT have encouraged market vendors to integrate IoT solutions with cold chain. The increasing use of IoT with cold chain has been identified as one of the critical cold chain market trends fueling market growth in the coming years.
Trade corridors are integrated transport networks that are designed to stimulate economic development by connecting cities or countries through integrated infrastructures, such as railroads and highways. Several countries and regions are investing heavily in trade corridors to generate economic benefits and aid in development, such as economic growth, jobs, reduce poverty, and economic resilience. Enterprises use these economic corridors to transport perishable and temperature-sensitive products, such as fruits, vegetables, and fish across borders. The increasing number of trade corridors will boost the demand for refrigerated transportation, consequently fueling the growth of the cold chain market at a CAGR of almost 15% during the forecast period.
Top Cold Chain Companies Covered in this Market Research Report
The global cold chain market is fragmented. To help clients improve their market position, this report provides an analysis of the competitive landscape and provides information on the services offered by companies. Moreover, this cold chain market research report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of their future growth opportunities.
The report offers a detailed analysis of several leading cold chain companies, including:
- AGRO Merchants Group
- AmeriCold Logistics LLC
- John Swire & Sons Ltd.
- Knight-Swift Transportation Holdings Inc.
- Lineage Logistics Holding LLC
Cold Chain Market Segmentation Based on Application
- Meat, fish, and seafood
- Dairy and frozen desserts
- Fruits, vegetables, and beverages cold
- Bakery and confectionary
During the forecast period, the meat, fish, and seafood segment will account for the highest cold chain market share. The increasing demand for frozen meat, fish, and seafood will boost the need for cold chain logistics and storage in this segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the cold chain market size.
Cold Chain Market Segmentation Based on Geographic Region
- North America
- South America
With a complete study of the growth opportunities for companies, it has been identified that North America accounted for the highest share of the cold chain market in 2018. However, the APAC region is expected to emerge as the market leader by the end of the forecast period. The strong presence of food and healthcare product suppliers and consumers, increasing demand for organic food products, and growing government support are some of the factors responsible for cold chain market growth in APAC.
Key Highlights of the Global Cold Chain Market Forecast Report for the Period 2019-2023
- CAGR of the market during the forecast period 2019-2023
- Detailed information on factors that will accelerate the growth of the cold chain market during the next five years
- Precise estimation of the global cold chain market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the cold chain industry across APAC, Europe, MEA, North America, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details of factors that will challenge the growth of cold chain companies
Read more- https://www.technavio.com/report/global-cold-chain-market-industry-analysis