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Europe Cold Chain Logistics Market Statistics 2027: Major Factors that can Increase the Global Demand
Europe Cold Chain Logistics Market
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The Europe cold chain logistics market was valued at $22.48 billion in 2015, and is projected to reach $79.16 billion by 2025, registering a CAGR of 19.2% from 2020 to 2025. By mode of transportation, the roadways segment was the highest revenue contributor in 2015, accounting for $9.09 billion, and is estimated to reach $28.94 billion by 2027, registering a CAGR of 18.30% during the forecast period.
Presently, Germany dominates the market, followed by France and the UK in terms of revenue. However, France and Spain are expected to grow at a higher CAGR during the forecast period.
Factors, such as growing penetration of e-commerce in the logistics industry, rising number of refrigerated warehouse, and the growing pharmaceutical sector, drive the growth of the Europe cold chain logistics market.
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Moreover, poor infrastructure, standardization, higher logistics costs, and lack of control of manufacturers and retailers on logistics service hamper the growth of the Europe cold chain logistics market. However, surge in use of IT solutions & automated software for cold chain logistics, cost cutting, and lead time reduction due to the adoption of multi-modal system and RFID technologies for cold chain applications are expected to offer lucrative opportunities for the growth of the Europe cold chain logistics market.
In addition, attributed to rise in globalization, various activities related to trade are experiencing increased growth. Moreover, the development of the overseas market is a significant factor that fuels the growth of the market.
Furthermore, the factors that drive the Europe cold chain logistics market include the growing penetration of e-commerce in the FMCG industry, changing lifestyles, rapidly evolving consumer habits, increasing disposable income, rising tech-driven logistics services, and escalating adoption of IoT-enabled connected devices.
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