Cold Chain Market To Surpass USD 490.76 Billion By 2030: Reports and Data

According to the current analysis of Reports and Data, the global cold chain market was valued at USD 253.00 Billion in 2021 and is expected to reach the value of USD 490.76 Billion by the end of the year 2030, at a CAGR of 7.6%. The cold chain market is considered to be the backbone of the agricultural industry. The cold chain consists of pre-cooling, refrigerated storage, and refrigerated transport of perishable food products. Despite the increasing importance of cold chain processes in food and pharmaceutical industry, the prevalence of cold chain management is still very weak in most of developing countries. Due to expansion in the food industry coupled with initiatives taken by the government to reduce food wastage, cold chain infrastructure has increased extensively in past years. Developing an undisturbed chain of storage and distribution of perishable products is highly crucial in order to help the farmers gain higher value for their produces and ensure safe and quality product delivery to the end-users. The key market players in the market are developing various strategies in order to sustain in the competitive market and increase their market shares like expansion, the launch of new products, partnerships, mergers and acquisitions. For example, in May 2019, Americold, a key player in the cold chain market, acquired Lanier Cold Storage, in order to further expand and strengthen its business in poultry segment. The company is expected to experience extensive growth in the urban areas of developing and developed countries.

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Considering factors such as increased customer demand for quality products, increasing in trading of perishable products, rise in disposable income, increase in the middle-class population, rise in demand for frozen products and increase in health concerns and demand for healthy and safe food products are expected to drive the market growth for cold chain processes. Further, development in the distribution channel is expected to increase the market in the coming years.

On the basis of regional perspective, Europe is expected to lead the market in the forecasted period. It reported the value of USD 56,348.2 million in 2018, and is expected to grow at a CAGR of 7.5% to reach the value of USD 100,912 million by the end of the year 2026. Growing demand for consumption of high-quality perishable commodities, and initiative taken by government for the safety of pharmaceutical product in transportation are the driving factors for its growth.

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Further key findings from the report suggest

• The cold chain market is growing at a CAGR of 5% in the Asia Pacific region, followed by Europe and North America, with 7.5 % and 7.4% CAGR, respectively. Increase in food spoilage coupled with an increase in demand for high-quality perishable products is expected to drive the growth of the cold chain market.

• Europe is the dominating cold chain with the highest market share of around 28.6% of the global market. European regional market is the chief revenue-generating source for this product segment, followed by Asia Pacific and North American regions.

• With an increase in food-borne diseases, people are more concern about the quality and the safety of the food product. Various techniques are deployed in order to test the quality of the frozen food product. For example, gas chromatography is performed on the food product to ensure it meets the quality standards throughout the delivery process.

• Apart from the food industry, cold chain logistics play a crucial role in the pharmaceutical industry. If a particular medicine is kept in a temperature range, that exceeds its 'safe range', the medicine will lose its effectiveness and in some cases, jeopardize the health of a patient.

• Cold chain logistics companies are introducing facilities for the consumers to track their package product in every facet of logistic process in order to make this possible; no weak-links in the logistic process must be present to enable maximum satisfaction to the customers.

• Cold-storage service helps in extending the shelf-life of perishable food products by retaining the moisture content in them and thus provide prevention from drying along with delaying the chemical reaction taking place in the food production leading to spoilage of food.

• Key participants include Americold Logistics LLC, Burris Logistics, Lineage Logistics Holding, LLC, Preferred Freezer Services, Inc., Nichirei Logistics Group Inc, Nordic Logistics and Warehousing LLC, Swift Transportation, Trenton Cold Storage, Interstate Cold Storage Inc, Henningsen Cold Storage Co., and VersaCold Logistics Services.

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Segments covered in the report:

For the purpose of this report, Reports and Data has segmented the Cold chain market on the basis of type, temperature type, application type, technology, and region:

Type Outlook (Revenue, USD Billion; 2019 - 2030)

• Refrigerated Transportation
• Refrigerated Warehouse

Technology Outlook (Revenue, USD Billion; 2019 - 2030)

• Blast Freezing
• Vapor Compression
• Programmable Logic Controller
• Evaporative Cooling
• Cryogenic Systems
• Others

Application Outlook (Revenue, USD Billion; 2019 - 2030)

• Dairy and Frozen Desserts
• Meat and Seafood
• Fruits and Vegetables
• Bakery and Confectionery
• Pharmaceutical
o Others

Regional Outlook (Revenue, USD Billion; 2019 - 2030)

• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o U.K.
o France
o Italy
o Spain
o Sweden
o BENELUX
o Rest of Europe
• Asia-Pacific
o China
o India
o Japan
o South Korea
o Rest of APAC
• Latin America
o Brazil
o Rest of LATAM
• Middle East & Africa
o Saudi Arabia
o UAE
o South Africa
o Israel
o Rest of MEA

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