Cold Chain Market Emerging Trends and Developments

The global cold chain market size is estimated to be valued at USD 233.8 billion in 2020 and is projected to reach USD 340.3 billion by 2025, recording a CAGR of 7.8%. The growing demand for organized retail, as well as the increase in awareness among consumers to mitigate food wastage, are propelling the demand for cold chain. With the advancement of recent technologies, the usage of cold chains in the food and beverage sector helps in preventing the degradation of food quality. The development of technology has contributed to the growth of cold chain market around the world. The Asia Pacific region is growing fastest owing to modern technologies, government support, and an increase in the export of food and beverages.

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'By temperature type, the chilled segment is projected to grow with the highest CGAR in the forecasted period'

Chilled products going through the cold chain involves chilling the products by reducing the food temperatures to below ambient temperatures, but above -1°C. Chilling food products between 0°C to +5°C is an effective tool for preserving food for shorter durations. It is because it retards many of the microbial, physical, chemical, and biochemical reactions that lead to food spoilage and deterioration. The use of chilling to slow down the rate of growth of microorganisms reduces food spoilage and improves food safety and quality. The Asia Pacific region is the dominant market for chilled cold chain, with a share of 31.5 % in 2019.

'By application, dairy & frozen desserts segment is projected to account for the largest share in the cold chain market by form during the forecast period'

The prime concern with transporting dairy and frozen desserts is constant temperature control, dust, and exposure to sunlight. Cold chain transportation services help overcome these problems by ensuring low temperatures (-18°C to 4°C) or (-0.4°F to 39.2°F) to extend their shelf-life. Milk and dairy products have been associated with foodborne illnesses for centuries. They are one of the most regulated foods. Cold chain logistics are essential for maintaining the quality of dairy products. The cold chain ensures that low temperature is maintained, as required by dairy products, throughout the supply chain.

'Asia Pacific is projected to account for the fastest growing and largest market with CAGR of 13.1% during the forecast period'

The cold chain market in this region is estimated to witness robust growth propelled by the economic developments of countries such as China, India, Japan, and Australia. The shift of industrialization and investments in Asia Pacific regions has grown substantially over the past decade, especially in China and India, which contributes to rapid economic growth. Therefore, several key market players in the region, such as AmericaCold Logistics (US), Lineage Logistics (US), Nichirei Corporation (Japan), and Agro Merchants Group (US), have been emphasizing on developments to provide a large product portfolio in the cold chain. The region also hosts a strong agricultural production base, which is a key factor for the growth of the cold chain market.

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Key Market Players:
Americold Logistics (US), Lineage Logistics Holdings (US), Nichirei Corporation (Japan), Burris Logistics (US), Agro Merchants Group (US), Kloosterboer (Netherlands), United States Cold Storage (US), Tippmann Group (US), VersaCold Logistics Services (Canada), Henningsen Cold Storage Co. (US), Coldman (India), Congebec Inc. (Canada), Conestoga Cold Storage (Canada), NewCold (Netherlands), Hanson Logistics (US), Confederation Freezers (Canada), Seafrigo (France), Trenton Cold Storage (Canada), Merchants Terminal Corporation (US), and Stockhabo (Belgium) are the leading cold chain market vendors.

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