Global Cold Chain Market Size 2024, Forecast To 2033
11 Mar, 2024
The cold chain market size has grown rapidly in recent years. It will grow from $365.57 billion in 2023 to $411.95 billion in 2024 at a compound annual growth rate (CAGR) of 12.7%. The growth in the historic period can be attributed to strong economic growth in emerging markets, growth in the world population, an increase in food export and increasing demand from end-use industries. The cold chain market size is expected to see rapid growth in the next few years. It will grow to $679.31 billion in 2028 at a compound annual growth rate (CAGR) of 13.3%. The growth in the forecast period can be attributed to global population growth and urbanization, rapid growth in e-commerce, increasing consumption of packaged food, food security initiatives and increasing demand from end-use industries. Major trends in the forecast period include focusing on sustainability initiatives, focusing on quality and product sensitivity, leveraging the Internet of Things (IoT), focusing on smart warehousing, outsourcing processes to third-party logistics and focusing on strategic investments.
Global Cold Chain Market Key Driver
The cold chain market has experienced growth propelled by the rising consumer demand for perishable foods, particularly driven by changing urban population dynamics and dietary habits. The demand for perishable goods such as dairy products, fruits, vegetables, and meat has increased significantly, with consumers opting for products with a longer shelf life. Notably, in 2021, Bizom, an India-based retail intelligence platform, reported a 9.1% increase in sales of ready-to-eat products from July to August 2021. Developing markets in the Asia-Pacific and Latin America are witnessing a surge in demand for perishable food products, contributing to the growth of the cold chain market. Thus, the increasing consumption of packaged and convenience foods is expected to be a driving force for the cold chain market in the forecast period, with market size values for 2023, 2024, and 2028 pivotal in understanding and sustaining this growth trend.
Get A Free Sample Of The Global Cold Chain Market ReportGlobal Cold Chain Market Segments
The cold chain market covered in this report is segmented –
1) By Type: Refrigerated Warehousing, Refrigerated Transport
2) By Temperature Type: Frozen, Chilled
3) By Industry Vertical: Pharmaceuticals And Healthcare, Food And Beverages, Chemicals, Other Industry Verticals
By Geography:The regions covered in the cold chain market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
North America was the largest region in the cold chain market in 2023. Asia-Pacific region is projected to record the fastest growth over the forecast period. The regions covered in the cold chain market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Cold Chain Industry Players
Americold Logistics, Burris Logistics, Nichirei Corporation, United States Cold Storage, Lineage Logistics Holdings, VersaCold Logistics Services, Tippmann Group, Congebec Inc, Snowman Logistics Ltd, Conestoga Cold Storage, Cold Box India LLP, Rinac India Limited, Singhania Logistics & Distribution Pvt. Ltd, Sinotrans Shanghai Cold Chain Company, Kerry Logistics Network Limited, Global Cold Chain Solutions, Valley Food Storage, ACS&T Logistics, VIMA Foods, Logifrio, Cabezuelo Foods, Ebro Foods, CRS IE, Maersk, Ruzave, FREJA Transport & Logistics, Priority Freight, Dropex, Internel Sp. z o.o, NATANEX, PUH Jamax, Fructus Transport, Artrans Transport, DH Warehousing & Fulfillment Ltd, Belleair Storage, Sysco EastTexas LLC, Freedom Warehousing and Solutions, Sam Dune Enterprises, Des Moine Cold Storage Co, Paige Logistics Ltd, N&N Logistics Inc, XPO Logistics, Legacy Logistics, Localfrio S/A, Brado Logistica S/A, ComFrio, Friozem Armazens Frigorificos Ltda, Martini Meat S/A, Agility, Al Futtaim, RSA Cold Chain, Sharjah cold stores, Tameem logistics, APG Logistics, GEFCO South Africa, Value Logistics, Transnova, KAP Industrial Holdings Limited, Tsiko Africa Group, Bakers SA Limited
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Cold Chain Market Overview
Cold chain refers to the process of controlling the temperature of perishable goods from the point of origin through the distribution network to the final consumer to ensure quality and safety. These services are used for the management and transportation of temperature-sensitive products through refrigeration, thermal packaging, and other methods.
Cold Chain Global Market Report 2023 provides data on the global cold chain market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The cold chain market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.