The global cold
chain market is
anticipated to reach USD 381.68 billion by 2025, according to a new report by
Grand View Research, Inc. The expansion of trade over the years has arisen the
necessity of making improvements in the packaging of crops as such, the
materials used for packaging play a major role in enhancing the storage life.
The development of cold chain is
largely responsible for the reduction of wastage of perishable commodities and
is vital for the growth of the food sector. Governments across globe provide
key services, such as public infrastructure and legislation, which help in
facilitating the refrigerated storage development. Furthermore, service
providers train employees to enhance technical expertise in the operation and
maintenance of specialized facilities.
Emerging countries such as India,
Brazil, China, and Mexico are currently undergoing a rapid transition to a
consumer-led economy. The retailers in these regions have ample opportunities
to expand and grow, owing to the prevailing large number of middle-class income
consumers. Advancements in the technology have enabled service providers to
penetrate the emerging markets with innovative solutions to help solve issues
relating to complex transportation.
Investment in warehouse
automation has been increasing over the past years to meet the customer requirements.
High capital investment, running costs, and scalability of different picking
methods are the key factors that restrain the market players to automate the
warehouses. Furthermore, the growing application of telematics in logistics and
transportation is likely to spur the refrigerated transportation market demand.
The retailers and franchise
customer have vertical integration with the cold chain service providers to
ensure the safety and quality of the product. The lack of cold chain facilities
in less-developed economies made retailers to invest heavily in developing own
cold chain logistics systems.
The increasing penetration of
connected devices and growing usage of RFID, barcode scanners in the
refrigerated warehouse is anticipated to drive the monitoring components
segment demand over the projected period. The service providers are focusing on
adopting new technologies such as cloud technology to enhance the overall
logistics performance.
U.S. cold chain market, by application, 2014 - 2025 (USD
Billion)
Browse full research report on Cold Chain Market
Further key findings from the report suggest:
- The storage
type segment dominates the market in terms of revenue
- The
containerization of perishable products is expected to increase the demand
for refrigerated containers over the forecast period
- The rapid
detection methods, such as nucleic acid-based, immunological-based, and
biosensor-based foodborne detection methods, are gaining traction in the
market
- The processed
food application is expected to register a high CAGR of 12.1% over the
projected period
- The Asia
Pacific region is expected to portray a high growth rate over the forecast
period
- The rising
popularity of quick-service restaurants, technological advancements in
food packaging, and modern retail trade are driving the processed food
application
- The key
market players include Lineage Logistics (U.S.), Nordic Logistics (U.S.),
Swire Group (UK ), and Wabash National Corporation (U.S.)
For more information: http://www.grandviewresearch.com
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