Cold chain logistics Market 2023

The global cold chain logistics market was valued at $202.17 bn in 2020 and is projected to reach $782.27 bn by 2030, registering a CAGR of 14.6% from 2021-2030

NEW YORK CITY, NEW YORK, UNITED STATE, January 11, 2023 /EINPresswire.com/ -- Cold chain logistics Market is the technology and procedure that enables temperature-sensitive goods and products to be transported safely throughout the supply chain. Science is crucial in understanding the relationship between temperature and perishability. An efficient cold chain keeps temperature-sensitive products within optimum temperature ranges and in the appropriate states from beginning to end. Product waste can result from products that aren't kept in a cold chain. The global cold chain logistics market was valued at $202.17 billion in 2020, and is projected to reach $782.27 billion by 2030, registering a CAGR of 14.6% from 2021 to 2030.

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Cold chain logistics is the technology and process that allows safe transport of temperature-sensitive goods and products such as fresh agricultural products, seafood, frozen food, photographic film, chemicals, and pharmaceutical drugs along with the supply chain. It is a factor in every stage of a supply chain, from purchase through transportation, storage, and delivery to the last mile. Refrigerated trucks, railcars, refrigerated freight, and air cargo are some of the transportation options used for product supply. The process further involves utilization of temperature-controlled warehouses for storage and cold-insulated transport vehicles for product distribution. Cold chains are vital for marketing expansion, preventing over-capacity, reducing transport bottlenecks in peak periods, maintaining product quality, and for maintaining product quality.

Key Market Segments

Type

Refrigerated Storage
Cold Chain Logistics

Application

Food and Beverages
Healthcare

Key Market Players included in the report:

Nichirei Logistics Group
AmeriCold Logistics
Lineage Logistics
OOCL Logistics
Burris Logistics
VersaCold Logistics Services
JWD Group
Swire Group
Preferred Freezer Services
Swift Transportation
AGRO Merchants Group LLC
XPO Logistics
CWT Limited
Kloosterboer
NewCold Coperatief U.A.
DHL
SCG Logistics
X2 Group
AIT
Gruppo Marconi Logistica Integrata

The industry is expected to grow due to the growing need to control temperature to prevent food losing, the increased penetration of connected gadgets and automation of refrigerated storage warehouses, and the increasing global demand for perishable items among consumers. There is also a rise in the number of organized retail outlets in developing countries which are driving increased demand for cold chains solutions.

Transport usually takes place using refrigerated cargo. Cold chain logistics uses roads, airlines and railways. A storage facility that has an insulated warehouse for temperature control is ideal. Increased production of goods has led to an increase in cold chain logistics. This technology has helped companies capture larger markets for their products. Logistics or cold chain supply is vital for maintaining quality in various food products and drugs.

Logistics services were greatly affected by the pandemic because of a total lockdown in various countries. Different regions saw a reduction in movement. This affected the cold storage logistics market. Various industries were closed down due to restrictions on transportation during the pandemic. The lack of row material for various goods was also a result of restricted movement. The market has seen steady growth since the pandemic. Many companies have introduced new policies to help generate sales and recover the losses from the pandemic.

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Drivers:

Consumers are now more aware of the impact of nutrients on physical and mental development, especially protein. They also care more about their health and well-being. Consuming perishable foods such as dairy, fruits, and vegetables has changed the way people consume them (e.g. meat, eggs and fish).

Emerging Asia Pacific and Latin American countries are highly in demand for perishable food items. The countries' rapid urbanization, changing consumer preferences and increasing disposable income can explain this. These countries have lower adoption rates which means that there is a lot of potential market for frozen and processed food products. These countries are seeing a rise in demand for frozen foods like desserts and pizzas. A cold storage system is essential for frozen food products in order to preserve their chemical composition even after months. Due to increased international trade in these foods products, there will be an increase in the demand for cold storage systems over the next few years.

Restraining Factors

The development of cold chain industries places significant pressure on the environment as refrigeration is a major source of greenhouse gases. It is also energy-intensive. Refrigerated road transport is in huge demand worldwide due to its increasing popularity. It is crucial to keep products cool throughout transportation (like trains and ships) in order to preserve shelf life and maintain product quality. About 7% of the world's total hydrofluorocarbon consumption (HFCs), is accounted for by refrigeration.

Diesel-powered reefer trucks and trailers consume 21% more power than nonrefrigerated diesel trucks. This has important implications for climate change as cold chain infrastructure is becoming almost universal in developing countries. The cold chain logistics market is expected to slow down due to environmental concerns about greenhouse gas emissions.

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