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Strong Growth Ahead: Perishable Goods Sea Transportation Market Size To Grow At Arecord 8.4% Cagr By 2029
Perishable Goods Sea Transportation
What Is the Projected Growth of the Perishable Goods Sea Transportation Market?
The marine transportation market for perishable goods has seen significant growth in the past few years. Projections suggest a rise from $2.06 billion in 2024 to $2.22 billion in 2025, reflecting a compound annual growth rate (CAGR) of 7.8%. The expansion during the historic period is linked to factors such as the global integration of supply chains, the rising demand for fresh and frozen edibles, strict quality and safety guidelines, an increased consumption of non-native foods, government measures to aid exports, and the escalating significance of cold chain logistics.
In coming years, a significant expansion is expected in the sea transportation market of perishable goods. It is predicted that by 2029, this market will reach a value of $3.07 billion, growing at a compound annual growth rate (CAGR) of 8.4%. Multiple factors contribute to this anticipated growth within the forecast period, including changing consumer inclination towards freshness, the spread of emerging markets, the implementation of innovative packaging techniques, global initiatives against food wastage, and increasing demand for local and organic goods. Also shaping this future scenario are key market trends like incorporating technology, direct-to-consumer methods, digital platforms for reservations and tracking, strategies to mitigate risk, the use of modern technologies in cold chain control, and the incorporation of real-time observing systems.
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What Are the Emerging Segments Within the Perishable Goods Sea Transportation Market?
The perishable goods sea transportation market covered in this report is segmented -
1) By Type: Domestic Transportation, Outbound Transportation
2) By Order Type: Export, Import
3) By Application: Meat Chicken, Fish And Shellfish, Vegetables And Fruits, Bread Candy And Snacks, Dairy Products And Frozen Desserts, Other Applications
Subsegments:
1) By Domestic Transportation: Inter-Island Transport, Coastal Transport
2) By Outbound Transportation: International Shipping, Cross-Border Transport
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What Long-Term Drivers Are Shaping Perishable Goods Sea Transportation Market Trends?
The global increase in processed food consumption is expected to fuel the expansion of the perishable goods sea transportation market. Processed foods include any food that has undergone some form of alteration from their natural state, such as washing, heating, pasteurization, canning, cooking, freezing, drying, dehydration, blending, baking, or packaging. The perishable goods sea transportation industry employs refrigerated vessels equipped with air circulation systems to maintain the freshness of transported food. For instance, a 2022 report by Soocial - a U.S.-based branding company specializing in slogans, premium domain names, and brand naming - found that one-fifth of UK residents consume pre-prepared meals weekly. In North America, ready-to-eat meals accounted for 41.4% market share last year. Consequently, the global upsurge in processed food consumption is propelling the growth of the perishable goods sea transportation industry.
Who Are the Top Competitors in Key Perishable Goods Sea Transportation Market Segments?
Major companies operating in the perishable goods sea transportation market include A.P. Moller - Maersk A/S, C.H. Robinson Worldwide Inc., CMA CGM Group, Deutsche Post DHL Group, DSV Panalpina A/S, Kuehne + Nagel International AG, Mitsui O.S.K. Lines Ltd., Orient Overseas Container Line, Schenker AG, Nippon Yusen Kabushiki Kaisha, COSCO Shipping Co. Ltd., Hanson Logistics Ltd., Hapag-Lloyd AG, Hellmann Worldwide Logistics SE and Co KG, MSC Mediterranean Shipping Company S.A., Seatrade Reefer Chartering NV, Seaboard Marine Ltd., Swire Pacific Cold Storage Ltd., ZIM Integrated Shipping Services Ltd., Crowley Maritime Corporation, Hamburg Sud
What Perishable Goods Sea Transportation Market Trends Are Gaining Traction Across Different Segments?
Emerging technological advancements in freight management have become a prominent trend in the perishable goods sea transportation industry. Major players in the business are incorporating new technology into their freight management systems for smarter, quicker transportation of perishable goods. Cutting-edge technologies such as the Internet of Things (IoT), radio frequency identification for efficient cargo tracking, sophisticated machine learning, and heightened security solutions based on the cloud are all utilized. For example, Kuehne + Nagel International AG, a Swiss-based transport and logistics firm in the perishable goods sea transportation market, launched the Seaexplorer disruption indicator in January 2022. This tool not only offers valuable insights into sea freight disruptions but also delivers advanced analytics and reports on current global trade situations. The disruption indicator also supplies trending data, improving clients' forecasting and planning capacities for potential future supply chain disruptions and helping them decide on the most suitable course of action.
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Which Regions Are Becoming Hubs for Perishable Goods Sea Transportation Market Innovation?
North America was the largest region in the perishable goods sea transportation market in 2024. Asia-Pacific is expected to be the fastest-growing region in the perishable goods sea transportation market report during the forecast period. The regions covered in the perishable goods sea transportation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Perishable Goods Sea Transportation Market?
2. What is the CAGR expected in the Perishable Goods Sea Transportation Market?
3. What Are the Key Innovations Transforming the Perishable Goods Sea Transportation Industry?
4. Which Region Is Leading the Perishable Goods Sea Transportation Market?
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