New York, NY, July 18, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Cold Chain Market by Type (Refrigerated Storage and Transport), By Temperature Type (Chilled and Frozen), and by Application (Dairy & Frozen Desserts; Meat, Fish, and Seafood, Fruits & Vegetables, Bakery & Confectionery, Pharmaceuticals, and Others) - Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024”.

According to the report, the global cold chain market was valued at around USD 188.42 billion in 2017 and is expected to reach approximately USD 269.61 billion by 2024, growing at a CAGR of around 7.5% between 2018 and 2024.

The cold chain is a system that is used for the management and transportation of temperature sensitive products through refrigerated and thermal methods of packaging. There are various ways in which cold chain products are transported such as railcars, refrigerated trucks, air cargo, and refrigerated ships. The cold chain is a technology that completely depends on the physical means for maintaining appropriate conditions of temperature. The cold chain is also referred to as the temperature controlled supply chain.

Browse through 54 Tables & 21 Figures spread over 110 Pages and in-depth TOC on “Global Cold Chain Market Size, Share 2017 Report: By Industry Type, Growth, Trends, Segments and Forecast 2024”.

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The cold chain industry is among the rapidly growing industries on account of the demand from several regions of the world. In 2017, the global cold chain market was worth around USD 188.42 billion. The cold chain is a type of supply chain industry. The cold chain is temperature controlled storage activity which involves a series of processes such as raw material storage, production, storage of finished products, and distribution of the final product along with equipment and logistics. It includes allied equipment and logistics to maintain cold storage temperature to preserve the products quality and shelf life. The products such as food, pharmaceutical, seafood, photographic films require cold chain storage. The cold chain vehicle is called a cold cargo. The cold cargo is used for transporting products which are perishable or product those who are highly sterile like pharmaceutical chemicals, drugs, etc.  
 
In addition, Good Cold Chain Management Practices (GCCMP) has set a standard for Standard Cold Chain Products (2°C to 8°C) to include the storage and transport of Ambient/Controlled Room Temperature (CRT) products. The rising demand for fresh products and increased shelf life of products are expected to be major drivers for the cold chain market. Government is taking initiatives to develop cold chain industry. Additionally, the investment of major players in the cold chain industry and growing import and export activity are the factors expected to fuel the growth of the cold chain market during the forecast period. 

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Moreover, international trade of perishable products, rising population, and urbanization, and increased demand for processed food and fresh food are responsible for the growth of the cold chain market in the food industry. 

The cold chain market can be segmented in terms of type, temperature, and application. The type segment is expected to witness significant gains over the next six years owing to the rising demand for the chilled and frozen products among the population. The temperature type segment is expected to witness significant growth within the forecast period owing to the high demand for pharmaceutical products and frozen food. 

Browse the full "Cold Chain Market by Type (Refrigerated Storage and Transport), By Temperature Type (Chilled and Frozen), and by Application (Dairy & Frozen Desserts; Meat, Fish, and Seafood, Fruits & Vegetables, Bakery & Confectionery, Pharmaceuticals, and Others) - Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024" report at https://www.zionmarketresearch.com/report/cold-chain-market 

In terms of application, the global cold chain market is categorized by their sales channel namely; dairy & frozen desserts; pharmaceuticals, fruits & vegetables, meat, seafood, and bakery & confectionery. The pharmaceutical segment accounted for a relatively high share among other types of application in 2017. Logistics companies have introduced numerous devices and tracking systems to improve the security of the drugs supplies during cold storage transportation.  

North America displayed the highest growth in 2017 and is projected to attain a significant market share in the global market during the forecast period. This growth is owing to constant advancement in autonomous trucks. Moreover, intelligent warehouse automation and control systems are an imperative factor supporting to build net-zero energy warehouses to achieve less power consumption. Furthermore, the U.S. and Mexico are expected to accelerate the cold chain market growth over the forecast period. Government regulations and custom programs are contributing to overall market growth.

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Europe was the second largest region contributing the global cold chain market growth during the forecast period. The European Cold Storage and Logistics Associations (ECSLA) represent the cold logistics industries at European and International Associations. For instance, on 31 May 2012, the European Cold Storage and Logistics Associations (ECSLA) collaborated with Cool Chain Association to decrease wastage and improve efficiency, quality, and value of the temperature sensitive supply chain by aiding and allowing a horizontal & vertical partnership, education, and innovation amongst their stakeholders and members.

Followed by Europe and North America, Asia Pacific is also projected to attain considerable market share during the forecast period. On 12 November 2017, the Asian Productivity Organization (APO) organized 5 days workshop on cold chain and logistics management for agrifood products in Nadi, Fiji. This workshop was conducted to improve the handling of agrifood products for the benefits of producers and consumers. The experts from APO intend to offer insights on strategies to deal with the specific needs of developing countries in the Asia Pacific.

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Latin America and the Middle East & Africa anticipate attaining considerable growth during the forecast period.

The key players in this industry are AGRO Merchants, Lineage Logistics, Preferred Freezer, Burris Logistics, and Nichirei Logistics, Americold Logistics, Kloosterboer, Interstate Warehousing, VersaCold Logistics, and Swire Cold Storage. The detailed description of players includes parameters such as company overview, financial overview, business strategies, and recent developments of the company.

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This report segments the global cold chain market as follows:

Global Cold Chain Market: Type Segment Analysis

  •  Refrigerated Storage 
  •  Transport 

Global Cold Chain Market: Temperature Type Segment Analysis

  •  Chilled 
  •  Frozen 

Global Cold Chain Market: Distribution Channel Segment Analysis

  •  Dairy & Frozen Desserts
  •  Meat, Fish, and Seafood
  •  Fruits & Vegetables
  •  Bakery & Confectionery
  •  Pharmaceutical 
  •  Others 

Global Cold Chain Market: Regional Segment Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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