A cold chain can be called a temperature-controlled supply chain. Cold chain management includes all the means to ensure a constant temperature for a product that is not heat stable from the time it is manufactured until the time it is used. The market has become an integral part of the supply chain management for excellent storage and transportation of temperature sensitive products. This market is anticipated to propel in the coming years. The expansion of cold chain is responsible for the declination of wastage of consumable commodities which is vital for the growth of the food sector. Moreover, governments across the globe provide key services, such as public infrastructure and legislation, and these services will help in facilitating the refrigerated storage development.
By product, this market is segmented into refrigerated transportation and refrigerated warehousing. The refrigerated warehousing market accounted for the major market share and dominated the cold chain market in 2016. The growth of this segment is due to the growth in organized retail sector, increasing demand for frozen food, and the rising concerns regarding wastage of food contributes to the development of this industry segment over the forecast period. Classified by application, global cold chain market is segmented into bakery & confectionery, healthcare, dairy & frozen desserts, fruits, vegetables, & beverages, meat, fish, and seafood. The dairy & frozen desserts segment is predicted to be the largest segment of this year 2017.
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The growth of this segment is attributed to factors such as the need for constant temperature control for temperature sensitive products, dust, and exposure to sunlight. This segment is witnessing high demand due to economic growth and drastic urbanization, and expansion of marketing channels which have led to significant changes in dietary patterns of consumers worldwide. On the other hand, health workers are often responsible for maintaining the cold chain systems for e.g. while vaccines are stored in vaccine stores or while they are being transported to other areas, and while they are being used during immunization sessions. In another way, it is the logistician’s responsibility to manage the cold chain as a part of the supply chain.
This cold chain market is driven by initiatives taken by governments globally for the development of cold chain infrastructure. However, the lack of funds and the unfledged cold chain infrastructure in numerous emerging economies results in restraining this market. Divided by region, this market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. According to this research study, North America will be the chief revenue contributor to this market during the forecast period.
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The high amount of revenue generated in this region is owing to its massive growing population with high disposable income and the increased demand for vegetables & fruits, which will drive market growth. In Europe, Germany is one of the largest markets due to the increased consumption of frozen foods. Global Cold Chain Market is expected to flourish at a CAGR of 6.8% during the forecast period from 2017 to 2025. Some of the key players of Global Cold Chain Market are Americold Logistics, Lineage Logistics, Preferred Freezer Services, John Swire & Sons, and Swift Transportation.
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