The Global Cold Chain market is expected to grow at a considerable rate by 2030, with a growing CAGR (compound annual growth rate) of 7.5% from 2022 to 2030.
The term cold chain refers to a network of supply lines with low temperature control. An unbroken cold chain is a continuous sequence of refrigerated production, storage, and distribution activities, together with related equipment and logistics, which maintain quality by maintaining a desired low-temperature range. It is used to preserve, extend, and ensure the shelf life of products like fresh agricultural produce, seafood, frozen food, photographic film, chemicals, and pharmaceuticals.
In contrast to other items or commerce, cold chain goods are perishable and always en route towards end use or destination, even when housed temporarily in cold stores. As a result, “”cargo”” is widely used to describe cold chain goods throughout their full logistical cycle. In example, adequate cold storage may be essential to preventing both quantitative and qualitative food losses.
Key Market Trends: Growth Determinants And Restraints
The Global Cold Chain Market is developing at a quicker pace with significant development rates throughout the most recent couple of years and is assessed that the market will fill essentially in the gauge period for example 2022 to 2030.
The increased prevalence of connected devices and automation of refrigerated warehouses around the globe is predicted to fuel the industry expansion over the forecast period. The demand for cold chain solutions is rising as organised retail outlets proliferate in emerging economies.
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Additionally, over the course of the forecast period, sector growth is anticipated to be aided by trade liberalisation, government initiatives to reduce food waste, and the expansion of retail chains by multinational corporations.
The World Trade Organization (WTO) and bilateral free trade agreements, including the North American Free Trade Agreement (NAFTA) and the Free Trade Agreement with the European Union (FTA), have made it possible for exporters in the United States and Europe to expand the trade of perishable foods without paying import taxes.
Segmentation Analysis Of Global Cold Chain Market:
Based on product type
- Refrigerated storage
- Refrigerated transport
- Others
Based on temperature type
- Chilled
- Frozen
- Others
Based on application
- Fruits and vegetables
- Bakery and confectionary products
- Dairy and frozen desserts
- Fish, meat, and seafood products
- Pharmaceutical
- Others
Asia-Pacific is expected to hold the largest market share
North America, Europe, Latin America, Asia Pacific, and Middle East and Africa are the major regions constituting the geographical landscape of Global Cold Chain market. Asia-Pacific dominates the market with the largest market share among others.
Competitive Landscape:
The Key players in the Global Cold Chain Market are AGRO Merchants, Lineage Logistics, Preferred Freezer, Burris Logistics and Nichirei Logistics, Americold Logistics, Kloosterboer, Interstate Warehousing, VersaCold Logistics, and Swire Cold Storage.
Major Development:
The Global Cold Chain market is expected to increase at a significant rate during the figure time period, somewhere in the range of 2022 to 2030. In 2020, the market was developing at a consistent rate and with the increasing reception of systems by key players, the market is supposed to ascend over the projected skyline.
Major Questions Answered In This Report:
- What is the growth rate of this Market?
- What are the primary growth determinants of the Global Cold Chain market?
- Which are the major regions constituting the geographical landscape of Global Cold Chain Market?
- Which are the prominent companies operating in Global Cold Chain Market?
Key Takeaways From The Report:
- The Global cold chain market registers a growing CAGR of 7.5% from 2022 to 2030.
- The increased prevalence of connected devices and automation of refrigerated warehouses around the globe is predicted to fuel the industry expansion over the forecast period.
- Asia-Pacific hold the largest market share, and is expected to grow further in the upcoming years.
- Some popular companies are AGRO Merchants, Lineage Logistics, Preferred Freezer, Burris Logistics and Nichirei Logistics, Americold Logistics, Kloosterboer, Interstate Warehousing, VersaCold Logistics, and Swire Cold Storage.
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