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At 9.2% CAGR, Cold Chain Market Size Set to Register 490.12 Billion USD by 2027

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Latest Study on “Cold Chain Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2027”.

The global Cold Chain market size is expected to be worth around US$ 490.12  billion by 2027, according to a new report by Nova One Advisor .

The global Cold Chain market size was valued at US$ 233.25 billion in 2020 and is anticipated to grow at a CAGR of 9.2% during forecast period 2021 to 2027.

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Growth Factors:

The growing penetration of connected devices and automation of refrigerated warehouses across the globe is anticipated to spur the industry growth over the forecast period. An increasing number of organized retail stores in emerging economies are leading to increased demand for cold chain solutions. Moreover, trade liberalization, government efforts to reduce food waste, and expansion of retail chains by multinational companies are expected to boost industry growth over the forecast period. The World Trade Organization (WTO) and bilateral free trade agreements, such as the European Union Free Trade Agreement (FTA) and the North America Free Trade Agreement (NAFTA), have created opportunities for exporters in the U.S. and Europe to increase trade of perishable foods in a manner that is free of import duties.

In developing economies, the refrigerated storage market is driven by a shift from carbohydrate-rich diets to protein-rich foods, owing to rising consumer awareness. Countries, such as China, are expected to portray a significant growth rate over the coming years due to a consumer-led transition in the economy. With growing technological advancements in warehouse management and refrigerated transportation, the market is likely to expand in developing economies.

Furthermore, growing government subsidies have enabled service providers to tap these emerging markets with innovative solutions to overcome complex transportation. Cold chain services are designed to provide ideal transportation and storage conditions for temperature-sensitive products. Increasing demand for perishable products and fast delivery requirements associated with the e-commerce-based food and beverages delivery market has created a significant boost in cold chain operations.

Highlights of the Report:

  • In the commercial segment, the demand for cold storage systems in the retail stores, supermarkets and hypermarkets are estimated to contribute significantly towards the growth of the cold chain market.
  • In the public sector, the Cold Chain Market is also expected to grow remarkably because of the increasing Government investments to develop advanced cold storage facilities.
  • By Geography, North America leads the Cold Chain Market by revenues share because of its massive demand for the perishable food products.

Market Dynamics:

Driver:

Consumers are now more aware of health and wellness, as well as the effect that food nutrients, especially protein, have on overall physical and mental growth and development. This has resulted in a change in the consumption pattern of perishable foods, such as dairy products, fruits and vegetables, and high-protein animal-based products (such as meat, eggs, and fish and seafood).

Emerging economies in the Asia Pacific and Latin America are witnessing a high demand for perishable food products. This can be attributed to the rapid urbanization, changing tastes and preferences, and the rising disposable income of consumers in these countries. The market potential for processed and frozen food products is also high in these countries due to their lower adoption rates.

Restraint:

Cold chain development places a significant burden on the environment since refrigeration is energy-intensive and is a source of greenhouse gases. Keeping products cold throughout the transportation phase of the cold chain (such as trucks, ships, and trains) accounts for around 7% of the global consumption of hydrofluorocarbons (HFCs). Also, diesel-powered transportation refrigeration units consume up to 21% more power than non-refrigerated diesel-powered trucks. This has significant implications on climate change, as the development of cold chains becomes more ubiquitous in developing countries.

Opportunity:

The development of retail channels and chains in the form of supermarkets, hypermarkets, and convenience stores is a major factor driving the growth of the cold chain market. Also, retail chains have developed to an extent where some of the producers have their own in-house refrigerated warehousing facilities. Large food retail chains such as Walmart, Tesco, Spar, and 7-Eleven are expanding their outlets in developed countries such as the UK, Germany, and the US, and in emerging markets such as China, Brazil, and Argentina. For instance, Walmart is the largest American multinational retail corporation with over 11,000 stores across 27 countries. It has a large fleet for the transportation of perishable goods and an effective distribution network. It also hires 3PL refrigerated warehousing service providers to efficiently transport perishable foods to its retail outlets.The emergence of such large retailers and their expanding operations in international trade are creating growth opportunities for the refrigerated warehousing and refrigerated transportation market.

Regional analysis:

North America held the largest revenue share of more than 35.2% in 2020 and will retain the dominant position throughout the forecast period as the region has significant growth opportunities for the companies planning to invest for a long haul. Increasing penetration of connected devices and a large consumer base are also expected to fuel market growth over the forecast period. However, Asia Pacific is anticipated to be the fastest-growing regional market over the projected period owing to increasing government investments for logistics infrastructure development and penetration of Warehouse Management Systems (WMS).

China is the major contributor to the APAC regional market. The market growth in China is attributed to factors, such as technological advancements in packaging, processing, and storage of seafood products. Rising demand and growing cold chain infrastructure development have made China a top market for cold chains. Currently, China is undergoing a rapid transition from a construction- & manufacturing-led economy to a consumer-led economy. Rising innovations in the pharmaceutical sector in China are also expected to boost the demand for cold chain solutions. Another major factor driving the market includes the rapid expansion of biopharma in the region.

Download This Full Research Report (Single User License US$ 3500)https://www.novaoneadvisor.com/report/checkout/6026

Recent report on the Cold Chain market, with the help of a comprehensive outlook, provides readers with an assessment of the global market landscape. This study on the Cold Chain market analyzes the scenario for the period of 2017 to 2027, wherein, 2021 is the base year and 2020 is historical data. This report enables readers to make important decisions with regard to their business, with the help of a wealth of Information enclosed in the study. The report also provides the compound annual growth rate (CAGR) of the global Cold Chain market for the forecast period of 2021–2027. This data can help readers interpret quantitative growth aspects of the global market during the forecast period. It presents a wealth of information on key market dynamics, including drivers, market trends, and challenges, as well as the structure of the global market across the globe.

The report analyzes the historical and present-day scenario of the global Cold Chain market to accurately gauge its growth potential. The study presents detailed information about important growth factors, restraints, and key trends that are creating the landscape for growth of the global market in order to identify opportunities for stakeholders.

The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments in the scope of the study. Moreover, the report sheds light on the changing competitive dynamics in the Cold Chain market. These indices serve as valuable tools for existing market players as well as for entities interested in participating in the market.

The report delves into the competition landscape of the global Cold Chain market. Key players operating in the market have been identified and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the Cold Chain market that are profiled in this report.

Y-o-Y growth comparison, volume and revenue comparison, and market share comparison of various market segments are provided in the report. The Cold Chain market is analyzed at both regional and country levels.

Some of the prominent players in the Cold Chain Market include:  Americold Logistics, Lineage Logistics Holdings, Nichirei Corporation , Burris Logistics , Agro Merchants Group , Kloosterboer , United States Cold Storage , Tippmann Group , VersaCold Logistics Services , Henningsen Cold Storage Co., Coldman, Congebec Inc. , Conestoga Cold Storage , NewCold, Hanson Logistics , Confederation Freezers , Seafrigo

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2027 and covers subsequent region in its scope:

By Temperature Type

  • Frozen
  • Chilled

By Type

  • Refrigerated warehousing
  • Refrigerated transport

By Application

  • Dairy & frozen desserts
  • Fish, meat, and seafood products
  • Bakery & confectionery products
  • Fruits & vegetables
  • Others

Research Methodology

A unique research methodology has been utilized to conduct a comprehensive research on the growth of the global Cold Chain market and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions. Secondary sources referred to by analysts during the production of the global market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of our study on the market as a primary source.

These primary and secondary sources provided exclusive information during interviews, which serves as a validation from mattress topper industry leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global Cold Chain market with accuracy. The study also uses the top-down approach to assess the numbers for each segment and the bottom-up approach to counter-validate them. This has helped to estimates the future prospects of the global market more reliable and accurate.

Key Questions are

  • What are the key factors influencing the Cold Chain market in each region?
  • How much value will the global market generate by the end of the forecast period?
  • What will be the CAGR of the global market between 2021 and 2027?
  • What would be the Y-o-Y growth trend of the global market between 2021 and 2027?
  • What is the future scope and current trends in technologies of the global market?
  • What is the revenue of the global market based on segments?
  • Which key strategies are used by top players of the global market?
  • Which are the leading companies in the global market?
  • What are the essential strategies by key stakeholders in the market to expand their geographic presence?
  • What are the major advancements witnessed in the global market?

Why should you invest in this report?

If you are aiming to enter the global Cold Chain market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for Cold Chain are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2027 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

Purchase Full Research Report (Single User License US$ 3500)@https://www.novaoneadvisor.com/report/checkout/6026

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