cold chain logistics market
The cold chain logistics market is segmented on the basis of the end-use industry, business type, and region.
— Allied Market Research
WILMINGTON, NEW CASTLE, DELAWARE, UNITED STATES, August 23, 2024 /EINPresswire.com/ — The is a temperature-controlled supply chain that provides an uninterrupted chain of distribution and storage activity in which a given temperature is maintained throughout the chain. It is primarily used to maintain & extend the life of products such as fresh agricultural products, seafood, frozen food, photographic film, chemicals, and pharmaceutical products. Rise in refrigerated warehouses and growth of the processed food sector and pharmaceutical sector have boosted the growth of the global cold chain logistics market. However, lack of standardization and high operational cost hinder the market growth. On the contrary, RFID technologies for cold chain applications and adoption of automated software would open new opportunities in the future.
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Factors such as increase in the number of refrigerated warehouses and growth in the pharmaceutical sector are expected to drive the growth of the cold chain logistics market. In addition, growth in the processed food sector boosts the market growth. However, factors such as lack of standardization and high operational cost restrain the market growth. Furthermore, RFID technology for cold chain applications and the adoption of software for cold chain logistics provide lucrative growth opportunities for the market players.
The key players operating in the global cold chain logistics market are Americold Logistics, LLC, Burris Logistics, Cold Box, Conestoga Cold Storage, Congebec, Lineage Logistics Holding, LLC, Nichirei Corporation, Tippmann Group, United States Cold Storage, and VersaCold Logistics Services.
By end user industry, the fruits & vegetable segment held the largest share in 2021, accounting for more than one-fourth of the global cold chain logistics market, owing to rise in transportation of food & vegetables across different countries in temperature-controlled containers. However, the drugs & pharmaceuticals segment is estimated to register the highest CAGR of 17.7% during the forecast period, due to increased developments carried in the medical & healthcare industry.
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In addition, the cold chain logistics market witnessed significant growth in recent years, owing to the massive impact of the COVID-19 pandemic, which resulted in the transformation of buying behavior of consumers & emerged as an essential component for the transportation of vaccines and pharmaceutical products, thus experiencing unwavering demand worldwide. Companies operating in the market have adopted collaboration, cooperation, partnership, product launch, R&D, and acquisition to increase their market share and expand geographical presence. In 2020, Americold Logistics, LLC acquired Agro Merchants Group, the fourth largest cold storage provider, to expand the scale & geographical reach of the organization into Europe & other complementary locations in the U.S., South America, and Australia.
By region, the market across Europe, followed by North America, is anticipated to showcase the highest CAGR of 15.7% during the forecast period, owing to rise in demand for cold chain-based products across the region. However, the global cold chain logistics market size across Asia-Pacific dominated in 2021, accounting for nearly two-fifths of the market, owing to rise in presence of numerous service vendors operating across the region.
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The cold chain logistics market is segmented on the basis of the end-use industry, business type, and region. Based on the end-use industry, the market is segmented into fruits & vegetables; bakery & confectionary; dairy & frozen desserts; meat, fish, & seafood; drugs & pharmaceuticals; and others. Depending on the business type, it is divided into warehousing and transportation. By transportation, it is classified into railways, airways, roadways, and waterways. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By business type, the transportation segment is projected to manifest the highest CAGR of 16.3% from 2021 to 2030, due to presence of several companies that have operation in cold chain logistical movement from one place to another. However, the warehousing segment held the largest share in 2020, accounting for more than two-thirds of the global cold chain logistics market, due to increased warehousing & storage activities carried out across the globe.
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On-demand Logistics Market – https://www.prnewswire.com/news-releases/on-demand-logistics-market-to-reach-80-6-billion-globally-by-2031-at-20-8-cagr-allied-market-research-301680063.html
Europe Cold Chain Logistics Market – https://www.globenewswire.com/news-release/2021/05/18/2231335/0/en/Europe-Cold-Chain-Logistics-Market-to-Generate-79-16-Billion-by-2025-Says-Allied-Market-Research.html
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David Correa
Allied Market Research
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