Cold Chain Logistics Market Scope Emerging Trends, Analysis and Forecast 2030-Burris Logistics Inc., AGRO Merchants Group (US), Tippmann Group (US), Preferred Freezer Services, Congebec Logistics Inc.

Cold chain logistics technology allows the transportation of temperature sensitive equipments and goods along the supply chain. Medical supplies, meat, sea food, pharmaceuticals, the consumable products which are perishable in normal temperature and are to be transported must be preserved and therefore, cold chain logistics are demanded. Due to different temperature standards for different types of goods, it gives modern businesses the flexibility to develop global supply chains. Seafood and meat is exported at -28 to -30 degree Celsius, whereas, for pharmaceuticals, 2 to 8 degree Celsius is required, this temperature range has been possible due to new techniques and technologies that help in achieving the ideal temperature for specific products.

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Lucrative Demand in Pharmaceutical Industries

Rising demand of all kind of drugs and medicines for chronic illnesses or health problems makes pharmaceutical industry a huge market for cold chain logistics. For ensuring that the transportation, and delivery of perishable drugs and injections are safe, the cold chain logistics are applied. For instance, insulin is a biologic needing utmost logistical production to delivery. Other than that, these biologics are expensive, their production, transportation and deployment cost huge sum and therefore, taking care of it reaching to the patient perfectly, without damage and slight misalignment is a major factor to focus on. Presently, covid-19 vaccines are reported to be kept extremely cold, for example, Pfizer vaccine needs to be kept at -70 degree Celsius whereas, Moderna claims their vaccine can be kept at -20 degree Celsius, thus, requiring cold chain logistics for transportation with varied range.

IoT Enabled Cold Chain Management to Boost the Market

Utilisation of IoT enabled sensors to monitor and manage the surroundings of temperature sensitive products to prevent spoilage and waste. With the help of temperature sensors in cold chain management solutions, the sensor can alert the issues in refrigeration, or any other potential etc. anywhere, anytime. With the remote tracking, shipment can always be tracked and therefore, leaving very less chances of temperature sensitive package to get lost or perished. The above factors, can help in maintaining the quality of products, such as foods, chemicals, drugs, agricultural produce or any photographic film, etc.

High Investment and Energy Costs making it Difficult for Emerging Economies

To prevent spoilage of food, frozen products, meat or pharmaceuticals it is necessary for the companies to invest in cold chain logistics. However, regions where energy costs are high are constantly concerned regarding the costs. Utilisation of fluorescent light fixtures in refrigerators, escalating fuel prices in developing countries, are the concerns which may restrain the growth during the forecast period. Other than that, some Asian and African countries lack proper infrastructure, proper food storage facilities and transportation facilities and therefore imply for inhibiting the growth of cold chain logistics.

Competitive Landscape

Key players from the market include Burris Logistics Inc., AGRO Merchants Group (US), Tippmann Group (US), Preferred Freezer Services, Congebec Logistics Inc. (Canada), Conestoga Cold Storage (Canada), Lineage Logistics Holdings, LLC (US), Americold Logistics (US), VersaCold Logistics Services (Canada), Henningsen Cold Storage Co. (US), Coldman (India), Trenton Cold Storage (Canada), Stockhabo (Belgium), Kloosterboer (Netherlands), NewCold (Netherlands), United States Cold Storage (US), Hanson Logistics (US), Seafrigo (France), Merchants Terminal Corporation (US), Trenton Cold Storage (Canada), Nicherei Corporation (Japan), etc.

In March 2020, Agro Merchants Group, global leader in cold storage and logistics launched a new drayage service in California. The service provides help to the customers to provide additional value and escalates their supply chain. The drayage service collects the customer freight from the port terminals in Los Angeles, delivers to AGRO’s temperature controlled distribution centre in Carson, CA. Also the service offers handling of their products within the DC. The company already provides the service in ports of Savannah, Oakland, Philadelphia and Charleston. And now, is expanding the services in other parts as well.

Americold Logistics (US) acquired Nova Cold logistics, Canadian firm from Brookfield Business Partners L.P. in January 2020. The company has also completed the acquisition of two cold storage facilities owned by MHW group Inc., in Maryland and Pennsylvania respectively. The company aims to expand their business in Canada and Mid-Atlantic US for enhancing the company’s position as a leading global owner and operator of temperature controlled infrastructure.

Also in December 2020 Americold Logistics have acquired Agro Merchants Group in a transaction acquiring 46 facilities accounting for 236 million refrigerated cubic feet located in 10 countries. The company have also issued 14.2 million of common shares to funds managed by Oaktree Capital management, L.P. and Agro management.

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Regional Outlook

North America has been leading in improvements in technological advancements in processing, packaging and storage processes. Technological advancements such as multi temperature monitoring from the cab of refrigerated truck by Transicold is being adopted in the region. Increase in construction of new warehouses, expansion of Panama Canal, allowing larger vessels with container loads, new technologies, etc. demonstrates the need of investments in Cold chain logistics. Increasing agriculture exports in US leading to trade in Mexico and Asian Countries is one of the factors leading the market higher.

Asia Pacific is expected to have a significant growth during the forecast period due to rapid shift in distribution of food products from traditional markets to super markets and stores. It is reported that 80-90% of food in Southeast Asia gets wasted during transportation. Also, Covid-19 has made a huge impact on the cold chain logistics sector in supply, operations and regulations, etc. Cold chain companies are distributing covid-19 vaccines. The companies in different countries are boosting their capacity to transport vaccines all over the country. For e.g. Snowman Logistics, ltd., a cold chain logistics company is boosting their cold storage from 31 to 33 cold storages which will be able to store 1,20,000 pallets accounting for 6000 vaccines in one pallet. Furthermore, e-commerce business and have significantly increased in Asia and frozen food being available online has creates the demand for cold chain infrastructures.

European cold chain logistics market is also projected to have a significant growth with the government regulations and improvements. European Cold Storage and Logistics Association focus reports that 33% of food gets wasted every year due to spoilage and therefore, it is necessary to maintain specific temperature for a product. Growth in e-commerce since many years, adoption of automation in cold storage warehouses in Europe is higher than in America therefore scaling the market higher. Furthermore, ECSLA are adopting natural refrigerants in cold chain logistics to reduce the environmental pressure and reducing the carbon footprints. Investments can be made in natural refrigerants, containing ammonia, CO2, etc. is projected to have a positive impact on market growth.

Segmentation

Based on Type

Refrigerated Transport
Refrigerated warehousing
Based on Temperature

Chilled
Frozen
Based on End User Industry

Frozen food
Bakery
Diary
Meat, fish and sea food
Pharmaceutical drugs and injections
Based on Region

North America
Europe
Asia Pacific
Middle East and Africa
Key Questions Answered​

Who are the leading players responsible for the market growth?Tippmann Group (US), Preferred Freezer Services, Congebec Logistics Inc. (Canada), Conestoga Cold Storage (Canada), Lineage Logistics Holdings, LLC (US), Americold Logistics (US), etc.
What are the major end user industries anticipated to grow cold chain logistics?Bakery, frozen food, meat, pharmaceuticals, injections, dairy products, etc.
Which temperature segment is projected to have lucrative growth during the forecast period?Frozen segment makes the food more inert and also preserves the taste, texture, and nutritional value of the products.
Which application is anticipated to surge the market growth?Diary and frozen products and pharmaceuticals.
Which region in expected to have the dominating share during the forecast period?North America due to technological advancements.
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