Cold Chain Logistics Market Size USD 801.26 Bn by 2030
Cold Chain Logistics Market Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022-2030
The value of the global cold chain logistics market is expected to exceed USD 801.26 billion by 2030 at a compound annual growth rate of over 14.07 percent, from an estimated USD 279.48 billion in 2022, according to Canada-based Precedence Research.
The Asia Pacific region is expected to have a dominant position in the global cold chain logistics market. This region shall have the largest market share due to rapid industrialization and urbanization. As there is an increase in the investment to the government for developing the infrastructure for cold chain logistics this region will dominate the market in the coming years. There shall be a good growth in the Asia Pacific region due to a growing demand for different types of processed food as well as frozen meat and different types of dairy products through the nations like India, China, South Korea as well as Japan.
These countries will drive the market growth in the coming years. Increasing investment through the government shall drive the market growth in this region also there shall be an increase in the FDI that will lead to a growth in the market. As there is an increase in the amount of activities that are promoting the pharmaceutical business in this region the cold storage logistics market is expected to grow well in the coming years.
This sector shall lead to the growth of the market due to its increased use or increasing demand for cold storage logistics. During the pandemic there has been an increasing demand for cold storage transport for various vaccination drives. Investments that are helpful in improving the health care of these nations shall also lead to a growth in the market.
Apart from these nations other developing nations like Africa Middle East as well as Latin America will also see a growing demand for coal chain logistics. Increase in the purchasing power and growing demand for food products that are easy to consume and cook shall lead to the growth of the market. Dual income households and hectic lifestyle has changed the consumption pattern of the consumers in these developing nations which shall drive the market growth for cold storage market.
Cold Chain Logistics Market Key Takeaways:
- In 2021, North America cold chain logistics market was valued at USD 97.7 billion
- Europe region is expected to drive growth at a CAGR of 15.8% from 2022-2030
- In 2021, the dairy and frozen desserts application segment has garnered 24% market share
- In 2021, the fruits and vegetables application segment accounted market share of 20%
- In 2021, the refrigerated warehouse type segment hit market share of 61%
- In 2021, the refrigerated transportation type segment accounted market share of around 39%
Download Access to a Free Copy of Our Latest Sample Report@ https://www.precedenceresearch.com/sample/1873
Cold Chain Logistics Market Scope
|Market Size by 2030||USD 801.26 Billion
|Growth Rate from 2022 to 2030||CAGR of 14.07%|
|Asia Pacific Market Share in 2021||39%|
|Refrigerated Warehouse Segment Market Share in 2021||67%|
|Forecast Period||2022 to 2030|
|Segments Covered||Type, Temperature Type, Technology, Process, Application, Geography|
Cold Chain Logistics Market Report Highlights
- On the basis of the type, the warehouse segment has dominated the market in the past and is expected to grow in the coming years. There’s an increased demand for practice food across the globe which has led to an increased demand for storage options. Frozen food products of different types need or temperature-controlled warehouse.
- On the basis of application, the dairy and frozen desserts will have a larger market share in the coming years. As there’s an increased consumption of these products in the developing as well as the developed nations the market is expected to grow well in the coming years. There has been an increased use of cold chain transport system for different types of food products when it comes to meat, poultry, fish, pork.
Cold Chain Logistics Market Dynamics
As there is an increase in the demand for various perishable foods the market for cultural logistics is expected to grow there is an increase in the infrastructure of different types of warehouses that have cold storage systems will also lead to the growth of the market. Advanced technology which helps in controlling the temperature of these warehouses will drive the market growth. As there is an increase in the awareness of the consumers regarding the food nutrients that are maintained in these various types of foods do to proper transport and storage will drive the market growth in the coming years.
As there is a growth in the different types of retail stores of the organized type the market is expected to grow Walmart, Spar Vectra are they organized stores that are expanding in various nations. These stores are present in 24 countries which need cold storage warehouses and transport systems in order to increase their reach. The expansion of these organized stores will provide better opportunities for growth in the coming years.
Read Also: Fundamental Knowledge of Liquefied Petroleum Gas
Refrigerators give out a lot of greenhouse gases that happen per day environment. As there’s an increase in the use of cold chain logistics in various industries there is a great increase in the emission of these greenhouse gases which happens to be extremely harmful for the environment. It also consumes a lot of energy which is another restraint in the growth of the market. There has been no massive growth and a large amount of demand for cold storage as well as cold transportation.
In order to increase the shelf life of various products and to help in preserving the quality of various food products during their transportation there is an increased use of cold chain logistics. Increased use of cold chain logistics puts greater impact on the climate. The amount of energy consumed in the cold storage transport is higher as compared to the ones that are non refrigerated transport systems. About 21% of more energy is used in different types of transport that make use of diesel.
the increased use of the RFID technology in this market will drive the market during the forecast period. In various developing nations there is an increase in the use of this technology that has provided growth opportunities. There has been an improvement in the supply chain of different types of perishable items due to the use of this technology which has helped in tracking the location of different packages.
The most important challenge in the cold chain industry is that of the lack of accreditations as well as the standards in this industry. In order to upgrade any industry that needs to be specific standards and policies that help in developing the industry. There is also a lack of trained personnel in handling of different types of products and due to all of these reasons the market growth shall be hampered in the coming years period
- Maersk had entered into a partnership with Novo Nordisk in December 2020. This partnership aims at providing roadways and waterways transport in the cold chain logistics.
Key market players
- Lineage Logistics Holdings LLC
- Snowman Logistics Ltd.
- AmeriCold Logistics LLC
- Nichirei Corporation
- Preferred Freezer Services Inc.
Segments covered in the report
- Refrigerated Transport
- Refrigerated Warehouse
By Temperature Type
- Dry Ice
- Gel Packs
- Eutectic Plates
- Liquid Nitrogen
- Pre-Cooling Facilities
- Cold Storage
- Refrigerated Carriers
- Information Management System
- Dairy and frozen desserts
- Fruits and vegetables
- Bakery and confectionery
- Process food
- North America
- South Korea
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- North Africa
- South Africa
- Rest of the Middle East & Africa
Why should you invest in this report?
If you are aiming to enter the global cold chain logistics market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for cold chain logistics 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 2022-2030 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.
Buy this Premium Research Report@ https://www.precedenceresearch.com/checkout/1873
Call: +1 9197 992 333
Email: [email protected]