The global Cold Chain Market is anticipated to exhibit a healthy CAGR during the forecast period, according to a report available on Million Insights. Cold chain refers to temperature-controlled supply chain technique that involves refrigerated production, storage, and distribution of various products. Specially designed equipment is used in logistics to ensure constant temperature and to maintain shelf life of stored products. Such products include frozen food, seafood, chemicals, and pharmaceutical drugs.
Rising demand for processed or frozen food owing to convenience is anticipated to propel cold chain industry growth. Growing need for non-seasonal vegetables and fruits among consumers require long term storage of seasonal products. Vegetables and fruits are highly perishable in nature and offer short shelf life. Thereby, wholesale distributors of fruits and vegetables have to adopt cold storage method to perverse the stock from contamination. Advent of technologically advanced storage and transportation solutions to maintain high quality of products is driving the market. Stringent food safety regulations by governments across various nations regarding focus on construction of warehouses will drive the cold chain market over the forecast period.
Full Research Report On Global Cold Chain Market Analysis available at: https://www.millioninsights.com/industry-reports/cold-chain-market
To cater to rising demand for advanced cold chain solutions, manufacturing companies are investing in R&D to develop innovative methods. For instance, in May 2019, Nordic launched drain safe gel packs for cold chain packaging. The pack is filled with new developed refrigerant that is supposed to break down in waste stream. Consumers can open the gel pack and throw the refrigerant into sink and flush it using running water.
Based on type, the cold chain industry can be categorized into monitoring components, transportation, and storage. Storage segment is anticipated to hold largest market share attributed to growing need for packaged food. Changing consumer’s lifestyle and eating habits is driving demand for frozen food. This factor will drive demand for advanced storage solutions over the forecast period.
Transportation segment, on the other hand, is also expected to witness significant growth in the coming years owing to rising demand for connected refrigerated trucks and insulated containers. In addition, increasing use of vehicles for cross-product transportation will boost segment’s growth in the coming years.
On the basis of packaging, the cold chain market can be classified into product and materials. Product segment includes insulated containers, cold packs, crates, temperature-controlled pallet shippers, and labels. Materials segment includes refrigerants and insulating materials. Temperature controlled packaging (TCP) is expected to be the most used element in refrigerated storage market. TCP is designed according to set standards, which are required to maintain product quality at specific temperature for mentioned time period. The system includes refrigerated boxes and pallet shippers that run on lithium battery.
In terms of equipment, the market can be bifurcated into transportation equipment and storage equipment. Storage segment is further divided into off-grid and on-grid. Technologically advanced storage equipment help in maintaining quality of food by increasing its shelf life. Such equipment include deep freezers, refrigerators, vaccine carriers, and others.
Based on application, the cold chain industry can be classified into dairy products, fruit pulp & concentrates, fruits & vegetables, fish, meat, and seafood, processed food, pharmaceuticals, bakery & confectionary, and others. The processed food segment is expected to exhibit highest growth over the forecast period. This is attributed to technological advancements in packaging materials to increase shelf life of food.
Regional segmentation includes Europe, Asia Pacific, North America, South America, and Middle East and Africa. North America is anticipated to dominate and account for largest market share over the forecast period. This is attributed to rising consumer base and growing penetration of connected devices in the region.
Asia Pacific, on the other hand, is also expected to witness significant growth in the coming years owing to rising demand for warehouse management systems in the region. Technological advancements in processing, storage, and packaging of food will drive regional growth.
Some of the key players in the cold chain market are Lineage Logistics; Al Rai Logistica K.S.C; Agro Merchants Group LLC; Americold Logistics LLC; and Swire Group.
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Cold Chain Type Outlook (Revenue, USD Million, 2014 – 2025)
• Reefer Containers
• Monitoring components
• RFID devices
• Networking devices
Cold Chain Packaging Outlook (Revenue, USD Million, 2014 – 2025)
• Insulated containers & boxes
• Cold chain bags/vaccine bags
• Corrugated boxes
• Payload size
• Large (32 to 66 liters)
• Medium (21 to 29 liters)
• Small (10 to 17 liters)
• X-small (3 to 8 liters)
• Petite (0.9 to 2.7 liters)
• Cold packs
• Temperature-controlled pallet shippers
• Insulating materials
• Cryogenic tanks
• Others (insulating pouches, hard cased thermal boxes, and active thermal systems)
Cold Chain Equipment Outlook (Revenue, USD Million, 2014 – 2025)
• Storage equipment
• Walk-in coolers
• Walk-in freezers
• Ice-lined refrigerators
• Deep freezers
• Solar chillers
• Milk coolers
• Solar powered cold boxes
• Others (solar refrigerators and products related to solar panels)
• Transportation equipment
Cold Chain Application Outlook (Revenue, USD Million, 2014 – 2025)
• Fruits & vegetables
• Fruit pulp & concentrates
• Dairy products
• Ice cream
• Fish, meat, and seafood
• Processed food
• Blood banking
• Bakery & confectionary
• Others (ready-to-cook, poultry)
Cold Chain Regional Outlook (Revenue, USD Million, 2014 – 2025)
• North America
• Asia Pacific
• South Korea
• Middle East
• Saudi Arabia
• South Africa
• South America
Related Reports of This Category Available at Million Insights: https://www.millioninsights.com/industry/food-processing
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