Cold Chain Logistics Market was valued at USD 293.81 Bn. in 2023, and the total revenue is expected to grow at 7.9% of CAGR through 2024 to 2030, reaching nearly USD 500.28 Bn. More than 70% of the market demand is anticipated to be driven by the growth of e-commerce, improvements in refrigeration technology, and increased awareness of food safety- Says Maximize Market Research
PUNE, India, Aug. 30, 2024 /PRNewswire/ — The global need for perishable foods, medications, and temperature-sensitive products is growing. This demand is expected to propel the growth of the Cold Chain Logistics Market. The market is likely to grow significantly over the forecast period. Significant market penetration is expected for key regions, including North America, Europe, and Asia-Pacific. The nations such as US, China, India, and Germany are leading the way for the development of cold chain logistics market infrastructure.
It is anticipated that the adoption of cutting-edge technology will improve operational effectiveness. Examples of such technology include IoT-enabled monitoring systems and automated storage and retrieval systems which are expected to help cut waste significantly. To further comply with international environmental regulations, eco-friendly measures such as sustainable packaging and energy-efficient refrigeration are expected to witness a rise. These developments are anticipated to fuel the growth of the Cold Chain Logistics Market over the forecast period.
Market Size in 2023
USD 293.81 Billion
Market Size in 2030
USD 500.28 Billion
CAGR
7.9 %
Forecast Period
2024-2030
Base Year
2023
Segment Covered
by Product
by Application
by Temperature
by Region
Key Market Drivers
Increasing demand for fresh foods Growing pharmaceutical sector Increased global trade Technological advancements
Key Market Restraint
High cost of setup Regulatory challenges Infrastructural limitations
Key Market Opportunities
Expansion into emerging markets Advancements in technology Sustainability trend
Report Coverage
Market Share, Size, and Forecast by Revenue | 2024−2030, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis.
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Trends in the Global Cold Chain Logistics Market
The global cold chain logistics market is exhibiting significant growth potential. The technological integration has been an important milestone. The integration of technology such as IoT devices along with smart sensors are used to track the temperature and humidity in real-time. Automated warehouses as well as robotic support for handling and packaging have not only improved efficiency, but have also reduced labor cost.
Companies associated with the cold chain logistics market are opting for eco-friendly practices such as energy-efficient refrigeration and sustainable packaging. Sustainability in picking pace with efforts by key players operating in the Cold Chain Logistics Market to reduce environmental footprint and reducing carbon emission. With growing online grocery shopping trend, the preference for fresh, organic, and perishable foods is also increasing. This calls for effective cold chain systems, in order to deliver fresh produce directly to the consumers.
Cold Chain Logistics Market: Segment Analysis
The global cold chain logistics market is segmented into by Product, Application and by Temperature segment. The Application segment includes dairy & frozen desserts, fish, meat, seafood products, bakery & confectionery products, fruits & vegetables, and others. Countries such as China and Vietnam are incurring significant losses due to lack of cold chain logistics.
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Cold Chain Logistics Market: Regional Analysis
Asia Pacific dominated the cold chain logistics market in 2023 with over 45% of market share. Asian governments are investing in building and improving the cold chain logistics infrastructure. This includes temperature-controlled transportation systems and also storage facilities. With changing lifestyle, the demand for processed foods, frozen dairy products, and meat is increasing in countries like, Japan, South Korea, China, and India. China has launched five-year plan focused on cold chain logistics. By 2025, China aims to create a cold chain logistics network connecting various regions, covering both urban and rural areas. The plan also includes building 100 national cold chain depots in key areas. China aims to make this cold chain logistics unit energy-efficient, in order to meet its carbon reduction goals by 2030 and achieve carbon neutrality by 2060.
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Cold Chain Logistics: Segmentation
by Product
Refrigerated warehousingRefrigerated transport
by Application
Dairy & frozen dessertsFish, meat, and seafood productsBakery & confectionery productsFruits & vegetablesOthers
by Temperature
FrozenChilled
Cold Chain Logistics Market Key Players
Americold Logistics, Inc (US)Lineage Logistics Holdings LLC (US)Burris Logistics (US)United States Cold Storage (US)Tippmann Group (US)NewCold (US)Seafrigo (US)Merchants Terminal Corporation (US)Nordic Logistics (US)Cold Chain Technologies, Inc. (US)Cold Box Express, Inc. (US)Valor Industries (US)Congebec Inc (Canada)Conestoga Cold Storage (Canada)Cryopak Industries Inc. (Canada)Trenton Cold Storage (Canada)VersaCold Logistics Services (Canada)va Q tec AG (Germany)Intelsius (UK)Sofrigam (France)Kloosterboer (Netherlands)Stockhabo (Belgium)Nichirei Corporation (Japan)Coldman (India)Nilkamal Limited (India)
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Key Benefits for Stakeholders:
This report offers a comprehensive analysis of the Microgreen market, combining both quantitative and qualitative insights. It covers segment analysis, current trends, market dynamics, challenges, and forecasts for the industry from 2024 to 2030.Utilizing Porter’s Five Forces framework, the report examines the power of buyers and suppliers, supporting stakeholders in making informed decisions and strengthening supplier-buyer relationships.A detailed look at market segmentation covers key opportunities within the Microgreen sector.Major countries within each region are mapped according to their revenue contributions, highlighting their impact on the global market.Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
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