Newark, Feb. 28, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 264.3 billion in 2023 food cold chain market will reach USD 555.3 billion by 2033. A vital link in the worldwide supply chain, the food cold chain handles the shipping, storage, and preservation of perishable food items at regulated temperatures. It includes a range of procedures and facilities intended to preserve food products' quality, safety, and freshness throughout their journey from the place where they are manufactured to the point of consumption. Preventing the growth of microbes, delaying enzymatic reactions, and extending the shelf life of perishable commodities are the main objectives of the food cold chain.
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Key Insight of the Food Cold Chain Market
Asia Pacific is anticipated to expand at the fastest CAGR of 14.9% over the projection period.
Asia Pacific is expected to grow at the fastest CAGR of 14.9% over the forecast period. The demand from consumers in the Asia-Pacific area for fresh and superior food products has increased. The need for a strong food cold chain has grown as consumer preferences and lifestyles change, moving toward convenience and a wider variety of food options. Additionally, a variety of agricultural and seafood products, including fruits, vegetables, meat, and seafood, are produced in the region. For these products to remain fresh and of high quality while they are transported from production facilities to distribution locations, effective cold-chain logistics are necessary.
In the food cold chain market, the fruits and vegetables segment is anticipated to expand at the highest CAGR of 13.7% over the projection period.
The fruits and vegetables segment is anticipated to expand at the highest CAGR of 13.7% over the projection period. The necessity for logistics in the cold chain has grown in line with the rising demand for fresh produce to preserve its quality and freshness throughout storage and transit. To satisfy the growing demand for fresh produce of the highest caliber, cold chain logistics is essential to preserving the nutritional content and flavor of fresh fruit. In general, the vegetable and fruit category in the cold chain industry is being driven by the increasing demand for organic products, a decrease in food waste, the growing need for fresh produce, and the globalization of commerce.
In the food cold chain market, the frozen segment is anticipated to expand at the highest CAGR of 13.1% over the projection period.
The frozen segment is anticipated to expand at the highest CAGR of 13.1% over the projection period. Freezers in cold storage facilities specifically designed for frozen goods normally keep temperatures below -18 degrees Celsius, or -0.4 degrees Fahrenheit. Many frozen items, such as vegetables, fruits, ice cream, meat that is frozen, and ready-to-eat meals, are kept at these facilities. Additionally, the frozen food industry frequently uses flash-freezing methods to rapidly freeze food items. This procedure keeps the food' texture, flavor, and nutritional value intact by briefly subjecting them to extremely low temperatures.
In the food cold chain market, the online segment is anticipated to expand at the highest CAGR of 15.4% over the projection period.
The online segment is anticipated to expand at the highest CAGR of 15.4% over the projection period. In the food cold chain, online merchants and e-commerce sites have grown to be significant actors. Online platforms offer a vast array of perishable commodities for consumers to peruse and buy, such as dairy products, seafood, meat, and frozen goods. Additionally, customers may order a range of food products conveniently online due to specialized online grocery delivery services. From product procurement to last-mile delivery, these services oversee the complete cold chain, guaranteeing that goods arrive in ideal condition.
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Market Dynamics
Driver
The need for fresh and nourishing food options is fueled in part by shifting dietary preferences, such as the adoption of healthy eating practices. These goods are distributed in line with wellness and health trends due to the cold chain. The development of the food cold chain has also been aided by the increasing number of supermarkets and retail chains, which provide a wide variety of perishable commodities. For these shops to consistently have a supply of fresh goods, effective cold chain operations are necessary.
Opportunity
Expanding and enhancing the cold chain can be supported by governments and regulatory agencies. Market expansion can be facilitated by offering incentives, subsidies, and legislative frameworks that support effective and sustainable cold chain operations. Also, cold chain suppliers have a chance to meet the growing demand for fresh and frozen foods delivered directly to consumers thanks to the expansion of e-commerce and online grocery shopping.
Some of the major players operating in the food cold chain market are:
• Americold Logistics
• Lineage Logistics Holdings, LLC.
• Nichirei Corporation
• Burris Logistics
• A.P. Moller Maersk
• United States Cold Storage
• Tippmann Group
• VersaCold Logistics Services
• Coldman
• Congebec Inc.
• Conestoga Cold Storage
• NewCold
• Confederation Freezers
• Seafrigo
• Trenton Cold Storage
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Key Segments cover in the market:
By Application
• Dairy & Frozen products
• Fish, meat & Seafood
• Fruits & Vegetables
• Bakery & Confectionary
By Temperature Type
• Chilled
• Frozen
By Distribution Channel
• Offline
• Online
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About the report:
The market is analyzed based on value (USD Trillion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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