Europe Cold Chain Logistics Market Emerging Analysis, Future Growth and Business Opportunities 2025
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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.
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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.
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.
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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.
COVID-19 impact analysis
The fruits & beverages segment of the Europe cold chain logistics market was slightly affected due to the lockdown and lack of transportation services globally.
Attributed to the COVID-19 pandemic, important supply chains in the logistics and transportation industry are hampered, though differently across the air, freight, and sea sectors. In addition, logistics firms, which are involved in the movement, storage, and flow of goods, have been directly affected by the COVID-19 pandemic.
In February 2021, the second wave of COVID-19 hit hard more than the earlier wave of COVID-19, and is expected to impact the overall economic outlook negatively in the coming months.
For the Europe cold chain logistics market, the year 2020 witnessed decline in terms of revenue and growth, owing to the negative demand and supply outlook due to COVID-19 restrictions for end users, including manufacturers and suppliers of food & beverages, health & nutrition products, bakery, flower-related products, and many others.
From October 2020, due to rebound in exports and strong consumption rate, the European economy witnessed boost, and is expected to continue in the coming years. Growing trade activities and increasing movement of goods are expected to support the growth of the Europe cold chain logistics market.
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As an integral part of value chains, both within and across international borders, logistics firms facilitate trade & commerce and help businesses get their products to customers. Therefore, the supply chain disturbance created by COVID-19 is expected to impact the competitiveness, economic growth, and jobs lost in the logistics industry.
Key Findings Of The Study
Based on mode of transportation, the roadways segment generated the highest revenue in 2015.
By temperature type, the frozen segment was the highest revenue contributor in 2015.
By end-use industry, the meat & sea food segment was the highest revenue contributor in 2015.
By country, Germany contributed the highest revenue, followed by the UK, France, and the rest of Europe in 2015.
The key players analyzed in the report include Kuehne+Nagel, Noatum Logistics, MSC Mediterranean Shipping Company, Lineage Logistics Holdings, Blue Water Shipping, Kloosterboer, Deutsche Post AG (DHL Group), GEODIS, AGRO Merchants Group, and DSV.
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