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Cold Chain Market Insights | Key players: Americold Logistics, Burris Logistics, Lineage Logistics, Nichirei Logistics

11-28-2018 08:03 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: MarketsandMarkets™

MarketsandMarkets

MarketsandMarkets

According to the research report, "Cold Chain Market by Type (Refrigerated Storage and Transport), Temperature Type (Chilled and Frozen), Application (Dairy & Frozen Desserts; Meat, Fish, and Seafood, Fruits & Vegetables, Bakery & Confectionery), and Region - Global Forecast to 2023", published by MarketsandMarkets™. The global cold chain market is estimated to account for USD 203.14 Billion in 2018 and is projected to reach USD 293.27 Billion by 2023, at a CAGR of 7.6%. The global cold chain market is expanding with considerable growth potential for over the next five years. The growth of this market can be attributed to the growth of international trade of perishable foods, technological advancements in refrigerated storage & transport, government support for the infrastructural development of the cold chain industry and increase in consumer demand for perishable foods. Also, expansion of food retail chains by multinationals will enhance international trade and impact the growth of the cold chain market.

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Browse 83 market data Tables and 49 Figures spread through 175 Pages and in-depth TOC on "Cold Chain Market - Global Forecast to 2023"

Asia Pacific to be the largest market for refrigerated storage during the forecast period

The two main types of cold chain infrastructure are refrigerated transport and refrigerated storage. The refrigerated storage market is estimated to be dominated by the Asia Pacific region. Refrigerated storage capacities are growing in the Asia Pacific due to the increased need for reducing wastage of perishable foods. In North America and Europe, the refrigerated transport industry is booming, mainly due to the advancement of technology in refrigerated trucks, vans, trailers, and maritime reefer containers.

Dairy & frozen desserts segment estimated to be the largest in 2017

Dairy & frozen desserts are estimated to account for the largest market share in the frozen cold chain market in 2018, due to their need for constant temperature control (being temperature-sensitive products), dust, and exposure to sunlight. Dairy & frozen desserts are witnessing high demand due to economic growth and rapid urbanization, along with sophisticated marketing channels, which have led to significant changes in dietary patterns. Government guidelines in China state that milk is a major source of calcium and protein, and recommend regular milk consumption, which has led to milk and dairy products being incorporated into the daily diet of consumers.

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Frozen products: The most widely consumed type of products preferred in cold chain application

The frozen products segment accounted for the largest share in the cold chain market, in terms of value in 2017. A wide variety of products such as ice cream, meat, and seafood are stored at freezing temperatures that range between -18 °C to -24 °C (-0.4 °F to -11.2 °F). Freezing preserves the taste, texture, and nutritional value of foods better than other preservation methods. Cold chain for frozen foods provides uninterrupted handling of the product within a low-temperature environment during the steps of the value chain, which include harvest, collection, packing, processing, storage, transport, and marketing until it reaches the final consumer.

This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading companies such as Americold Logistics (US), Preferred Freezer Services (US), Burris Logistics (US), Lineage Logistics (US), and Nichirei Logistics (Japan).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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