Global Cold Chain Market Set For 13.3% Growth, Reaching $679.31 Billion By 2028
Cold Chain Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company’s Early Year-End Sale! Get up to 30% off detailed market research reports—for a limited time only!
LONDON, GREATER LONDON, UNITED KINGDOM, December 20, 2024 /EINPresswire.com/ -- Get a head start with The Business Research Company’s Early Year-End Sale! Avail up to 30% off on detailed market research reports—limited time only!
In recent years, the cold chain market has witnessed significant growth. Data from the 'Cold Chain Global Market Report 2024' indicates that the market size is set to expand from $365.57 billion in 2023 to $411.95 billion in 2024, showcasing a compound annual growth rate CAGR of 12.7%. The robust growth during the historical period can be credited to strong economic growth in emerging markets, the rise in world population, increased food export, and burgeoning demand from end-use industries.
How is the Cold Chain Market Projected to Grow Over the Next Few Years?
The cold chain market size is on the path of rapid growth in the forthcoming years. Market projections reveal that it will touch $679.31 billion in 2028, demonstrating a compound annual growth rate CAGR of 13.3%. The growth during the forecast period can be attributed to increasing global population coupled with urbanization, a surge in e-commerce, rising consumption of packaged food, initiation of food security measures, and augmenting demand from end-use industries.
To get a clear picture of this growth, access the detailed market sample report: https://www.thebusinessresearchcompany.com/sample.aspx?id=4119&type=smp
What are the Key Market Drivers and Trends Developing in the Cold Chain Market?
One of the crucial growth stimulants for the cold chain market is the increasing consumer demand for perishable foods. In the historic period, the demand for such foods like dairy products, fruits, vegetables, and meat amplified with the rising urban population and evolving eating habits. This paradigm shift is towards purchasing perishable items with a longer expiration period, given their perishable nature.
Developing markets in Asia-Pacific and Latin America are witnessing a high demand for such food products. For instance, in 2021, an India-based retail intelligence platform, Bizom, which monitors the sales of 7.5 million retail stores across India, reported a 9.1% increase in the sales of ready-to-eat products in August from July 2021.
Thus, the ballooning consumption of packaged and convenience food is anticipated to drive the cold chain market during the forecast period.
To explore further insights and strategies, visit the full market report: https://www.thebusinessresearchcompany.com/report/cold-chain-global-market-report
Who are the Key Players in the Cold Chain Market?
Notable participants in the cold chain market include Americold Logistics, Burris Logistics, Nichirei Corporation, United States Cold Storage, Lineage Logistics Holdings, VersaCold Logistics Services, Tippmann Group, Congebec Inc, and Snowman Logistics Ltd. It also features players like Conestoga Cold Storage, Cold Box India LLP, Rinac India Limited, Singhania Logistics & Distribution Pvt. Ltd, Sinotrans Shanghai Cold Chain Company, and Kerry Logistics Network Limited. The report encompasses Global Cold Chain Solutions, Valley Food Storage, ACS&T Logistics, VIMA Foods, Logifrio, Cabezuelo Foods, Ebro Foods, CRS IE, Maersk, and Ruzave, among others.
What are the Innovative Trends Surging the Cold Chain Market?
Cold Chain players are veering towards smart warehousing to slash costs and enhance efficiencies. Smart warehousing blends cutting-edge technology to augment productivity and efficiency, while simultaneously reducing errors. This innovative ecosystem automatically acknowledges, receives, organizes, and pulls goods, infusing life into the warehouse by performing tasks without human intervention.
The quality of perishable goods is maintained through temperature-controlled storage with appropriate cooling and heating systems. Such achievements are plausible by integrating a sophisticated warehouse management system that oversees the storage facility and provides real-time data on temperature along with other variables that can impact the goods.
Which are the Key Segments and Regions in the Cold Chain Market?
The cold chain market covered in the report is segmented into:
1 By Type: Refrigerated Warehousing, Refrigerated Transport
2 By Temperature Type: Frozen, Chilled
3 By Industry Vertical: Pharmaceuticals And Healthcare, Food And Beverages, Chemicals, Other Industry Verticals
In terms of regional insights, North America emerged as the largest region in the cold chain market in 2023. However, the Asia-Pacific region is projected to record the fastest growth during the forecast period. The covered regions include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Browse Through More Similar Reports By The Business Research Company:
Cold Chain Packaging Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/cold-chain-packaging-global-market-report
Pharmaceutical Logistics Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/pharmaceutical-logistics-global-market-report
Toiletries Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/toiletries-global-market-report
To learn more about The Business Research Company, we've published over 15000+ reports across 27 industries and 60+ geographies. Our reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at info@tbrc.info
Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Oliver Guirdham
The Business Research Company
4 20 7193 0708
email us here
Visit us on social media:
Facebook
X
LinkedIn
Distribution channels: Business & Economy, Companies, International Organizations, Shipping, Storage & Logistics, World & Regional
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
Submit your press release